Machine Tools Market: Technological Advancements and Market Dynamics

Machine Tools Market Size, Share & Industry Analysis, By Technology (Conventional and CNC (Computerized Numerical Control)), By Product (Metal Cutting and Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, and Others), and Regional Forecast, 2024-2032

The Machine Tools Market 2025 involves equipment used for shaping and machining metal and other materials, including lathes, milling machines, and grinders. The Market 2025 is expanding due to advancements in CNC technology and the growing demand for precision manufacturing across various industries such as automotive, aerospace, and defense.

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List of the Companies Profiled in the Report:

• Yamazaki Mazak Corporation (Japan)
• Doosan Machine Tools Co., Ltd. (South Korea)
• Trumpf (Germany)
• AMADA MACHINE TOOLS CO., LTD (Japan)
• JTEKT Corporation (Japan)
• MAG IAS GmbH (Germany)
• Schuler AG (Germany)
• Makino (Japan)
• Hyundai WIA (South Korea)
• Komatsu Ltd. (Japan)
• Okuma Corporation (Japan)
• FANUC Corporation (Japan)
• Haas Automation Inc. (U.S.)
• Mitsubishi Heavy Industries Machine Tools Co., Ltd. (Japan)

Segmentation:

By Technology

• Conventional
• CNC (Computerized Numerical Control)

By Product

• Metal Cutting
  • Machining Centers
  • Turning Machines
  • Grinding Machines
  • Milling Machines
  • Eroding Machines
  • Others (boring, etc.)
• Metal Forming
  • Bending Machines
  • Presses
  • Punching Machines
  • Others (stamping press, etc.)

By Application

• Automotive
• General Machinery
• Precision engineering
• Transport Machinery
• Others (Construction, etc.)

Machine Tools Market Drivers and Restraints:

Key Drives:

• Increased demand for precision manufacturing across various industries.
• Advancements in automation and CNC technology.

Restraining Factors:

• High costs of advanced machine tools and training for operation.
• Economic downturns affecting investment in manufacturing sectors.

Report Coverage

The global machine tools Industry was valued at USD 120.32 billion in 2023 and is projected to grow from USD 125.75 billion in 2024 to USD 229.46 billion by 2032, exhibiting a CAGR of 7.8% during the forecast period.

The report provides:

• Key growth drivers, challenges, opportunities, and potential barriers in the market.
• Comprehensive insights into regional developments.
• A list of major industry players.
• Key strategies adopted by market leaders.
• Recent industry developments, including product launches, partnerships, mergers, and acquisitions.

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Global Machine Tools Market: Regional Segmentation:-

• North America (USA & Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia & Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia & Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (GCC, South Africa & Rest of Middle East & Africa)

The information in this study is based on both primary and secondary research methods. The major research methodology comprises interactions with service providers, suppliers, and industry experts. The secondary research process entails a thorough search of relevant documents such as corporate annual reports, financial reports, and proprietary databases.

Key Industry Development

August 2020: Hurco introduced a new range of CNC turning centers with live tooling for any turret station. The new CNC system uses a multi-core CPU that allows high resolution graphics on the screen, comparable with those on Hurco’s machining centre control.

May 2020: Mazak Corporation is focusing on expanding its presence across the Portuguese market by establishing a new sales channel. The new sales operation, which will be based in Porto, is aimed to support Mazak’s distributor, Normil.

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