Global Machine Tools Market

Global Machine Tools Market by Product Type (Milling Machines, Turning Machines, Grinding Machines, EDM), Automation Type (CNC and Conventional), End-User Industry (Automotive, Capital Goods), Sales Channel and Region - Global Forecast to 2030

Report Code: AT 7325 Feb, 2024, by marketsandmarkets.com

[262 Pages Report] The global machine tools market size was valued at USD 78.6 billion in 2023 and is expected to reach USD USD billion by 2030, at a CAGR of 4.2% during the forecast period 2023-2030. The rising demand for manufactured goods across diverse industries catalyzes the growth and evolution of the global machine tools market. This demand fuels the development of more advanced, efficient, and specialized machine tools capable of meeting the intricate and diverse needs of the modern manufacturing process. As the demand for precision, customization, and high-volume production continues to surge, the machine tools market is propelled forward, fostering innovation and technological advancements.

Global Machine Tools Market

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Global Machine Tools Market Opportunities

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Market Dynamics:

Driver: Increasing demand for precision and efficiency

Industries such as automotive, aerospace, electronics, and healthcare sectors have stringent demands for high-precision components. Machine tools need to meet these requirements to ensure the production of intricate parts with minimal error margins. As product designs become more complex and sophisticated, the need for tight tolerances and impeccable quality standards rises. Machine tools with cutting-edge technologies, such as computer numerical control (CNC), provide the precision necessary to meet these exact specifications.

Precision in manufacturing directly correlates with minimized waste and rework. High-precision machine tools ensure that parts are manufactured accurately the first time, reducing material wastage and the need for costly reworking processes. Integrating digital technologies and data-driven solutions in machine tools also allows for predictive maintenance, real-time monitoring, and adaptive control. This integration enhances precision and efficiency while minimizing downtime.

The global machine tools market responds to these demands by continually innovating and developing cutting-edge technologies. Manufacturers invest in research and development to create more precise, efficient, and adaptable tools capable of meeting the evolving needs of modern manufacturing. The focus on precision and efficiency remains a key driver, guiding the market towards advancements that push the boundaries of what is achievable in manufacturing processes.

Restraint: High initial investment costs

The cost of buying advanced machine tools is high. This is a major factor impeding the global machine tool market's expansion. Depending on the brand and model, brand-new CNC lathes and routers can cost thousands of dollars. The expenses incurred by organizations that use CNC machines are subsequently raised by these investments, which also include shipping, installation, operating, and maintenance expenditures. CNC machines have a large weight range of 100 pounds to several tons. Purchase agreements typically cover transportation expenses; if not, customers may have to pay hundreds of dollars in additional fees.

Additionally, CNC machines can be tailored to meet the needs and specifications of final customers. The applications for which CNC machines are intended vary in their requirements. In addition, CNC machines need to be updated, when the manufacturing process or products undergo significant modifications that result in elevated expenses. These high costs associated with the overall operation of CNC machines are the key factors considered in making purchase decisions. They are expected to hinder the adoption of CNC machines, especially across cost-sensitive regions and industries. Therefore, high installation and maintenance costs about machine tools are expected to prove to be a restraining factor for the growth of the global machine tools market.

Opportunity: Increasing adoption of CNC technology

The adoption of computer numerical control (CNC) technology in machine tools has been transformative in the manufacturing industry. CNC technology has revolutionized machining processes by offering precision, efficiency, and automation. CNC technology allows for incredibly precise and accurate machining operations. Machines controlled by computer programs ensure consistent quality, reducing errors and improving the overall precision of manufactured parts.

CNC machines operate continuously and can run multiple tasks without manual intervention, leading to higher productivity. Automated tool changes, faster cutting speeds, and reduced setup times contribute to increased efficiency in production. CNC technology enables the production of intricate and complex parts that might be challenging or impossible to manufacture using conventional methods. This capability is especially crucial in industries like aerospace, automotive, and medical devices. CNC machines are often integrated with Computer-Aided Design (CAD) and Computer-Aided Manufacturing (CAM) software. This integration allows for seamless translation of design specifications into machine instructions, optimizing the manufacturing process. Manufacturers are developing new products. For instance, in April 2023, Okuma Corporation developed the LB3000 EX? CNC lathe and MB-46V ? vertical machining center, which are world-class Green-Smart Machines with high precision and energy-saving performance.

The adoption of CNC technology in machine tools continues to grow as manufacturers seek ways to improve precision, increase productivity, and stay competitive in a rapidly evolving market. The ongoing advancements in CNC technology will likely drive further innovation and expansion of its applications in the manufacturing industry.

Challenge: Absence of standardization in industrial communication protocols and interfaces

There is no single dominant protocol or interface for machine tool communication. Instead, many options exist, including MTConnect, OPC UA, Siemens Sinumerik, Fanuc, and Heidenhain. This variety creates incompatibility issues, making it difficult for different machines and devices to talk to each other. Moreover, integrating new machines and devices into existing systems becomes a complex and time-consuming task due to the lack of standardization. This hinders the potential for creating smart factories and interconnected production lines.

The incompatibility between protocols restricts data exchange and limits the ability to collect and analyze valuable production data. This impedes process optimization and informed decision-making. The lack of standardization also necessitates custom adapters and gateways to bridge the communication gap between different machines. This adds to the overall cost and complexity of implementing industrial automation solutions.

The absence of standardization in industrial communication protocols and interfaces for machine tools presents a significant challenge, but the ongoing efforts towards establishing common ground promise a brighter future for the industry. By embracing open standards and collaborative approaches, the machine tool sector can unlock new levels of efficiency, innovation, and competitiveness in the age of Industry 4.0.

Market Ecosystem

Top Companies in Global Machine Tools Market

CNC machine tools holds the largest market during the forecast period.

CNC machine tools have the largest market share in the global machine tools market. Consumers increasingly demand customized products, which require flexible and agile manufacturing processes. CNC machines can be easily programmed to produce different product variations, making them ideal for meeting customization demands.

Depending on the machining operation, these machines use various cutting tools, including end mills, drills, lathes, and specialized tools. These tools are attached to the machine's tool holder and can be automatically changed during operations. There are various types of machines, such as milling machines, turning machines, electrical discharge machining (EDM) machines, grinding machines, and drilling machines. These machines benefit industries with increased precision, productivity, versatility, and efficiency. Manufacturers are also developing models with advanced features. For instance, in June 2023, Makino Milling Machine Co., Ltd. introduced a horizontal machining center a91nx. This horizontal machining center’s spindle lineup can handle various work materials, such as cast iron and aluminum. Such developments will further drive the demand for CNC machine tools during the forecast period.

Milling machines hold the largest market share during the forecast period.

The milling machine segment is expected to lead the global machine tools market during the forecast period. Industries like aerospace, medical devices, and electronics rely heavily on components with tolerances measured in microns. Traditional machining methods often struggle to achieve such precision, but milling machines excel in this area. Their ability to deliver intricate details and consistently high quality makes them the go-to choice for manufacturers in these demanding sectors. Also, the growing focus on sustainability is shaping the milling machine market. Manufacturers seek machines offering features like reduced energy consumption and minimized waste generation. Modern milling machines are increasingly designed with these factors, incorporating features like optimized cutting paths and eco-friendly coolants, making them more attractive in a sustainability-conscious world. In Addition to this, Manufacturers are developing new products. For instance, in 2023 in India, Lakshmi Machine Works Limited (India) launched the JD I vertical milling machine that is designed for heavy-duty milling with a maximum travel of 1250 x 800 x 760 mm and a table load capacity of 1,500 kg. Such product developments will help various sectors, including manufacturing, automotive and transportation, capital goods, and energy and power, to increase their productivity and accuracy.

Asia Pacific is the largest market for machine tools during the forecast period.

China, Japan, and South Korea lead the Asia Pacific global machine tools market. The region is considered significant in the growth of the global market, both in production and sales. China is the largest machine tools producer and user globally, dominating the market in the region. The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. The increasing population is also attracting companies to invest in the Asia Pacific. Some of the most prominent players in the market space are present, such as DMG MORI (Japan) and Okuma Corporation (Japan). Makino Milling Machine Co., Ltd. (Japan), JTEKT Corporation (Japan), DN SOLUTIONS (South Korea), and others are other major factors driving the market in this region. Manufacturers in the Asia Pacific region are investing in building manufacturing plants. For instance, in June 2023, Nidec Machine Tool launched a new cutting tool factory in India to meet the growing demand for automotive and related components by increasing the production capacity by 1.5 times. Such developments are expected to propel the market growth.

Moreover, all the leading players in the global machine tools market are generating the majority of their revenues from the Asian region only. China, Japan, India, and South Korea have a large customer base. These nations are home to companies prioritizing research and development, further contributing to the industry’s potential. Additionally, this region’s demand for advanced machine tools in sectors such as automotive, aerospace, energy, semiconductors, and medical industries is notably high.

North American Global Machine Tools Market Size, and Share

Key Market Players

The machine tools market is dominated by established players such as Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea), and others. These companies manufacture machine tools and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2030

Base year considered

2022

Forecast period

2023-2030

Forecast units

Value (USD Bn)

Segments Covered

Product Type, Automation, Sales Channel, End-User Industry and Region

Geographies covered

Asia Pacific, Europe, North America and Rest of the World

Companies Covered

Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea) and others.
A total of 29 major company profiles were covered and provided.

This research report categorizes the global machine tools market based on product type, automation, sales channel, end-user industry and region.

Based on Product Type:
  • Milling Machines
  • Drilling Machines
  • Turning Machines
  • Grinding Machines
  • Electrical Discharge Machine
Based on Automation:
  • Conventional Machine Tools
  • CNC Machine Tools
Based on Sales Channel:
  • Events and Exhibitions
  • Dealers and Distributers
  • Direct Sales
Based on End-User Industry:
  • Aerospace
  • Medical
  • Semiconductor
  • Automotive and Transportation
  • Capital Good
  • Energy and Power
  • Sheet Metals
  • Others
Based on the Region:
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Vietnam
    • Malaysia
    • Rest of Asia Pacific
  • North America
    • Canada
    • US
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Switzerland
    • Turkey
  • Rest of the World
    • Russia
    • Brazil

Recent Developments

  • In December 2023, DMG MORI partnered with Wilhelm Blessing GmbH & Co. KG and Walter AG for holistic tool solutions, innovative clamping devices, and data-based quality prediction.
  • Makino Inc. developed a 5-axis machining center, DA500. It improves the productivity of manufacturing equipment parts that require complex three-dimensional shapes, smooth curved shapes, and high machined surface quality.
  • In October 2023, DN Solutions launched 4th-generation vertical machining centers (DNM 4500, DNM 5700, and DNM 6700) with enhanced productivity and reliability. The new DNM Series features thermal displacement compensation as standard to ensure that the machining results never vary regardless of the machine’s environment.
  • In August 2023, Okuma Corporation partnered with EMUGE-FRANKEN for a technology program. The new partnership strategically combines high-performance cutting tool solutions and applications expertise from EMUGE-FRANKEN with leading machine tool technology from Okuma.
  • In June 2023, Makino Inc. introduced a horizontal machining center, a91nx. This horizontal machining center’s spindle line-up can handle various work materials such as cast iron and aluminum.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 30)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           TABLE 1 GLOBAL MACHINE TOOLS MARKET DEFINITION, BY PRODUCT TYPE
           TABLE 2 MARKET DEFINITION, BY AUTOMATION
           TABLE 3 MARKET DEFINITION, BY SALES CHANNEL
           TABLE 4 MARKET DEFINITION, BY END USER INDUSTRY
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    TABLE 5 INCLUSIONS AND EXCLUSIONS FOR MARKET
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
           TABLE 6 CURRENCY EXCHANGE RATES (PER USD)
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA 
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH DESIGN MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                               TABLE 7 LIST OF PARTICIPATING COMPANIES FOR PRIMARY RESEARCH
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.2 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY 
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 6 GLOBALMACHINE TOOLS MARKET: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 7 MARKET: TOP-DOWN APPROACH
                    FIGURE 8 MARKET ESTIMATION NOTES
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.5 ANALYSIS OF FACTORS IMPACTING MARKET 
           2.5.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.6 RECESSION IMPACT ANALYSIS 
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 53)
    FIGURE 10 GLOBAL MACHINE TOOLS MARKET OVERVIEW 
    FIGURE 11 CNC MACHINE TOOLS SEGMENT TO HOLD LARGER MARKET SHARE THAN CONVENTIONAL MACHINE TOOLS SEGMENT FROM 2023 TO 2030 
    FIGURE 12 MILLING MACHINES SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 
    FIGURE 13 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 
    FIGURE 14 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 58)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN GLOBAL MACHINE TOOLS MARKET 
           FIGURE 15 RISING DEMAND FOR MACHINE TOOLS IN ASIA PACIFIC TO DRIVE MARKET
    4.2 MARKET, BY PRODUCT TYPE 
           FIGURE 16 MILLING MACHINES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.3 MARKET, BY AUTOMATION 
           FIGURE 17 CNC MACHINE TOOLS SEGMENT TO HOLD LARGER MARKET SHARE THAN CONVENTIONAL MACHINE TOOLS SEGMENT DURING FORECAST PERIOD
    4.4 MARKET, BY SALES CHANNEL 
           FIGURE 18 DEALERS AND DISTRIBUTORS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.5 MARKET, BY END USER INDUSTRY 
           FIGURE 19 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.6 MARKET, BY REGION 
           FIGURE 20 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 61)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 GLOBAL MACHINE TOOLS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Rising adoption of manufactured goods
                               FIGURE 22 MANUFACTURING INDUSTRY VALUE ADDED GROWTH, 2019–2023
                    5.2.1.2 Increasing demand for precision and efficiency
                               FIGURE 23 APPROACHES FOR INCREASING ENERGY EFFICIENCY OF MACHINE TOOLS
                    5.2.1.3 Increase in automobile production
                               FIGURE 24 VEHICLE PRODUCTION, 2020–2022
                    5.2.1.4 Growing focus on automation
           5.2.2 RESTRAINTS
                    5.2.2.1 High initial investment costs
                    5.2.2.2 Rising popularity of electric vehicles
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Industry 4.0 and digitization
                               FIGURE 25 EVOLUTIONARY HISTORY OF INDUSTRIALIZATION AND MACHINE TOOLS
                    5.2.3.2 Increasing adoption of CNC technology
                    5.2.3.3 Rising implementation of adaptive machining
                               FIGURE 26 ADAPTIVE CONTROL SYSTEMS FOR MACHINE TOOLS
           5.2.4 CHALLENGES
                    5.2.4.1 Absence of standardization in industrial communication protocols and interfaces
                    5.2.4.2 Lack of skilled workforce to operate automated machine tools
                               FIGURE 27 WORKFORCE SKILL GAP BETWEEN 2018 AND 2028
                               TABLE 8 IMPACT OF MARKET DYNAMICS
    5.3 PRICING ANALYSIS 
           5.3.1 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY PRODUCT TYPE
                    TABLE 9 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY PRODUCT TYPE, 2023
           5.3.2 AVERAGE SELLING PRICE TRENDS, BY REGION
                    TABLE 10 AVERAGE SELLING PRICE TRENDS, BY REGION, 2023
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 28 ECOSYSTEM ANALYSIS
           5.4.1 RAW MATERIAL SUPPLIERS
           5.4.2 MACHINE TOOL COMPONENT MANUFACTURERS
           5.4.3 CUTTING TOOL MANUFACTURERS
           5.4.4 SOFTWARE AND DIGITIZATION PROVIDERS
           5.4.5 MACHINE TOOL MANUFACTURERS
           5.4.6 DISTRIBUTORS AND DEALERS
           5.4.7 MAINTENANCE AND REPAIR SERVICE PROVIDERS
                    TABLE 11 ROLE OF COMPANIES IN ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 29 GLOBAL MACHINE TOOLS MARKET: VALU CHAIN ANALYSIS
    5.6 CASE STUDY ANALYSIS 
           5.6.1 CIRCLE GMBH INSTALLED ROEDERS 5-AXIS MACHINING CENTER OF HURCO EUROPE TO PRODUCE MACHINE PROTOTYPES
           5.6.2 JONES NUTTAL INSTALLED PRECISION CNC MACHINES TO IMPROVE OPERATIONAL EFFICIENCY AND RELIABILITY
           5.6.3 P-Q CONTROLS, INC. USED DETRON NEO CNC MACHINE TO REDUCE OPERATING COSTS
           5.6.4 HIGH-PRECISION SOLUTION FOR HYPERION MATERIALS & TECHNOLOGIES
           5.6.5 CUSTOMIZED GRINDING MACHINES FOR MACHINING GEARS
           5.6.6 HIGH-PRECISION GRINDING MACHINE FOR TURBO-COMPRESSORS FOR VARIOUS MODELS OF MARINE ENGINES
    5.7 INVESTMENT AND FUNDING SCENARIOS 
           FIGURE 30 DEALS OF KEY PLAYERS, 2020–2023
           TABLE 12 LIST OF FUNDING, 2021–2023
    5.8 PATENT ANALYSIS 
           TABLE 13 PATENT ANALYSIS (ACTIVE PATENTS), 2022–2023
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 INTRODUCTION
           5.9.2 INCLUSION OF SMART FEATURES AND NETWORKS
                    FIGURE 31 SYSTEM ARCHITECTURE OF INTELLIGENT NUMERICAL CONTROLLER (INC)
           5.9.3 AUTOMATED AND IOT-READY MACHINES
                    FIGURE 32 IOT FOR MACHINE TOOL MONITORING SOLUTIONS
           5.9.4 CNC SOFTWARE ADVANCEMENTS IN MACHINE TOOLS INDUSTRY
           5.9.5 ARTIFICIAL INTELLIGENCE IN MACHINE TOOLS
    5.10 TARIFF AND REGULATORY LANDSCAPE 
           5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 17 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.11 TRADE ANALYSIS 
                    TABLE 18 IMPORT AND EXPORT DATA FOR PRODUCTS UNDER HS CODE 8459, BY KEY COUNTRY, 2022
    5.12 KEY CONFERENCES AND EVENTS 
                    TABLE 19 LIST OF KEY CONFERENCES AND EVENTS, 2024–2025
    5.13 TRENDS & DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
                               FIGURE 33 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN GLOBAL MACHINE TOOLS MARKET
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MACHINE TOOLS, BY PRODUCT TYPE
                    TABLE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR MACHINE TOOLS, BY PRODUCT TYPE
           5.14.2 BUYING CRITERIA
                    FIGURE 35 KEY BUYING CRITERIA FOR MACHINE TOOLS, BY PRODUCT TYPE
                    TABLE 21 KEY BUYING CRITERIA FOR MACHINE TOOLS, BY PRODUCT TYPE
 
6 GLOBAL MACHINE TOOLS MARKET, BY PRODUCT TYPE (Page No. - 98)
    6.1 INTRODUCTION 
           FIGURE 36 MILLING MACHINES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 22 MARKET, BY PRODUCT TYPE, 2019–2022 (USD BILLION)
           TABLE 23 MARKET, BY PRODUCT TYPE, 2023–2030 (USD BILLION)
    6.2 MILLING MACHINES 
           6.2.1 ADVANCEMENTS IN MILLING MACHINE TECHNOLOGY TO DRIVE MARKET
                    TABLE 24 MILLING MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 25 MILLING MARKET, BY REGION, 2023–2030 (USD BILLION)
           6.2.2 MILLING MACHINES MARKET, BY AXIS TYPE
                    6.2.2.1 Milling machines market, by 4-axis
                    6.2.2.2 Milling machines market, by 5-axis
                               TABLE 26 LIST OF 4 AND 5-AXIS MILLING MACHINES
                               TABLE 27 MILLING MACHINE TOOLS MARKET, BY AXIS TYPE, 2019–2022 (USD BILLION)
                               TABLE 28 MILLING MARKET, BY AXIS TYPE, 2023–2030 (USD BILLION)
           6.2.3 UNIVERSAL MILLING MACHINES
           6.2.4 MACHINING CENTERS
    6.3 DRILLING MACHINES 
           6.3.1 RISING DEMAND FOR ACCURATE AND EFFICIENT DRILLING TO DRIVE MARKET
                    TABLE 29 DRILLING MACHINE TOOLS MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 30 DRILLING MARKET, BY REGION, 2023–2030 (USD BILLION)
    6.4 TURNING MACHINES 
           6.4.1 RISING DEMAND FOR ACCURACY AND VERSATILITY IN AUTOMOTIVE INDUSTRY TO DRIVE MARKET
                    TABLE 31 TURNING MACHINE TOOLS MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 32 TURNING MARKET, BY REGION, 2023–2030 (USD BILLION)
           6.4.2 TURNING MACHINES MARKET, BY TYPE
                    6.4.2.1 Turning machines market, by Swiss-type
                    6.4.2.2 Turning machines market, by multi-spindle
                               TABLE 33 TURNING MARKET, BY TYPE, 2019–2022 (USD BILLION)
                               TABLE 34 TURNING MARKET, BY TYPE, 2023–2030 (USD BILLION)
           6.4.3 UNIVERSAL TURNING MACHINES
    6.5 GRINDING MACHINES 
           6.5.1 INCREASING DEMAND FOR PRECISION GRINDING OPERATIONS TO DRIVE MARKET
                    TABLE 35 GRINDING MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 36 GRINDING MARKET, BY REGION, 2023–2030 (USD BILLION)
    6.6 ELECTRICAL DISCHARGE MACHINES 
           6.6.1 RISING DEMAND FOR ADVANCED MICRO EDM TECHNIQUES TO DRIVE MARKET
                    TABLE 37 ELECTRICAL DISCHARGE MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 38 ELECTRICAL DISCHARGE MARKET, BY REGION, 2023–2030 (USD BILLION)
    6.7 KEY PRIMARY INSIGHTS 
 
7 GLOBAL MACHINE TOOLS MARKET, BY AUTOMATION (Page No. - 112)
    7.1 INTRODUCTION 
           FIGURE 37 CNC MACHINE TOOLS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
           TABLE 39 MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
           TABLE 40 GLOBAL MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
    7.2 CNC MACHINE TOOLS 
           7.2.1 RISING DEMAND FOR HIGH-QUALITY, COMPLEX COMPONENTS IN AEROSPACE AND AUTOMOTIVE INDUSTRIES TO DRIVE MARKET
                    TABLE 41 CNC MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 42 CNC MARKET, BY REGION, 2023–2030 (USD BILLION)
    7.3 CONVENTIONAL MACHINE TOOLS 
           7.3.1 LOWER INITIAL INVESTMENT AND OPERATIONAL COST TO DRIVE MARKET
                    TABLE 43 CONVENTIONAL MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 44 CONVENTIONAL MARKET, BY REGION, 2023–2030 (USD BILLION)
    7.4 KEY PRIMARY INSIGHTS 
 
8 GLOBAL MACHINE TOOLS MARKET, BY SALES CHANNEL (Page No. - 118)
    8.1 INTRODUCTION 
           FIGURE 38 DEALERS AND DISTRIBUTORS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 45 MARKET, BY SALES CHANNEL, 2019–2022 (USD BILLION)
           TABLE 46 MARKET, BY SALES CHANNEL, 2023–2030 (USD BILLION)
    8.2 DIRECT SALES 
           8.2.1 GROWING DEMAND FOR CUSTOMIZATION AND AFTER-SALES SUPPORT TO DRIVE MARKET
                    TABLE 47 DIRECT SALES: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 48 DIRECT SALES: MARKET, BY REGION, 2023–2030 (USD BILLION)
    8.3 EVENTS AND EXHIBITIONS 
           8.3.1 PRODUCT VISIBILITY AND PROMOTION FACTOR TO DRIVE MARKET
                    TABLE 49 EVENTS AND EXHIBITIONS: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 50 EVENTS AND EXHIBITIONS: MARKET, BY REGION, 2023–2030 (USD BILLION)
    8.4 DEALERS AND DISTRIBUTORS 
           8.4.1 RISING DEMAND FOR AFTER-SALES SERVICE AND SUPPORT TO DRIVE MARKET
                    TABLE 51 DEALERS AND DISTRIBUTORS: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 52 DEALERS AND DISTRIBUTORS: MARKET, BY REGION, 2023–2030 (USD BILLION)
    8.5 KEY PRIMARY INSIGHTS 
 
9 GLOBAL MACHINE TOOLS MARKET, BY END USER INDUSTRY (Page No. - 125)
    9.1 INTRODUCTION 
           FIGURE 39 AUTOMOTIVE AND TRANSPORTATION SEGMENT TO LEAD MARKET FROM 2023 TO 2030
           TABLE 53 MARKET, BY END USER INDUSTRY, 2019–2022 (USD BILLION)
           TABLE 54 MARKET, BY END USER INDUSTRY, 2023–2030 (USD BILLION)
    9.2 AEROSPACE 
           9.2.1 GROWING ADOPTION OF MACHINE TOOLS FOR PRECISE MANUFACTURING TO DRIVE MARKET
                    TABLE 55 AEROSPACE: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 56 AEROSPACE: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.3 MEDICAL 
           9.3.1 RISING DEMAND FOR HIGHLY PRECISE MEDICAL DEVICES TO DRIVE MARKET
                    TABLE 57 MEDICAL: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 58 MEDICAL: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.4 SEMICONDUCTOR 
           9.4.1 INCREASING DEMAND FOR MACHINE TOOLS IN DIE- AND WIRE-BONDING PROCESSES TO DRIVE MARKET
                    TABLE 59 SEMICONDUCTOR: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 60 SEMICONDUCTOR: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.5 AUTOMOTIVE AND TRANSPORTATION 
           9.5.1 RISING FOCUS ON INCREASING MANUFACTURING EFFICIENCY DURING MASS PRODUCTION TO DRIVE MARKET
                    TABLE 61 AUTOMOTIVE AND TRANSPORTATION: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 62 AUTOMOTIVE AND TRANSPORTATION: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.6 CAPITAL GOODS 
           9.6.1 RISING DEMAND FOR FABRICATED METAL PARTS TO DRIVE MARKET
                    TABLE 63 CAPITAL GOODS: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 64 CAPITAL GOODS: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.7 ENERGY AND POWER 
           9.7.1 INCREASING DEMAND FOR EFFICIENT AND SUSTAINABLE ENERGY SOURCES TO DRIVE MARKET
                    TABLE 65 ENERGY AND POWER: GLOBAL MACHINE TOOLS MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 66 ENERGY AND POWER: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.8 SHEET METAL 
           9.8.1 INCREASING USE OF SHEET METAL IN MANUFACTURING AND GROWING EMPHASIS ON LIGHTWEIGHT MATERIALS TO DRIVE MARKET
                    TABLE 67 SHEET METAL: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 68 SHEET METAL: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.9 OTHERS 
           TABLE 69 OTHERS: MARKET, BY REGION, 2019–2022 (USD BILLION)
           TABLE 70 OTHERS: MARKET, BY REGION, 2023–2030 (USD BILLION)
    9.10 KEY PRIMARY INSIGHTS 
 
10 GLOBAL MACHINE TOOLS MARKET, BY REGION (Page No. - 138)
     10.1 INTRODUCTION 
               FIGURE 40 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
               TABLE 71 MARKET, BY REGION, 2019–2022 (USD BILLION)
               TABLE 72 MARKET, BY REGION, 2023–2030 (USD BILLION)
     10.2 ASIA PACIFIC 
             10.2.1 ASIA PACIFIC: RECESSION IMPACT
                       FIGURE 41 ASIA PACIFIC: MACHINE TOOLS MARKET SNAPSHOT
                       TABLE 73 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                       TABLE 74 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
             10.2.2 CHINA
                       10.2.2.1 Government-led initiatives to promote automation and advanced technologies to drive market
                                   TABLE 75 CHINA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 76 CHINA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.3 JAPAN
                       10.2.3.1 Increasing production of high-precision components for automotive industry to support market growth
                                   TABLE 77 JAPAN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 78 JAPAN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.4 SOUTH KOREA
                       10.2.4.1 Rising demand for advanced machine tools to drive growth
                                   FIGURE 42 MARKET SHARE OF LEADING MACHINE TOOL COMPANIES IN SOUTH KOREA, 2022
                                   TABLE 79 SOUTH KOREA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 80 SOUTH KOREA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.5 INDIA
                       10.2.5.1 Rising economic growth and domestic investments to drive market
                                   TABLE 81 INDIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 82 INDIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.6 THAILAND
                       10.2.6.1 Rising government initiatives to drive market growth
                                   TABLE 83 THAILAND: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 84 THAILAND: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.7 TAIWAN
                       10.2.7.1 Rising investment in high-end equipment to drive market growth
                                   TABLE 85 TAIWAN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 86 TAIWAN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.8 VIETNAM
                       10.2.8.1 Rising economic growth and industrialization to boost demand for machine tools
                                   TABLE 87 VIETNAM: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 88 VIETNAM: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.2.9 MALAYSIA
                       10.2.9.1 Growth in key end-user industries to drive market growth
                                   TABLE 89 MALAYSIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 90 MALAYSIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
               10.2.10 REST OF ASIA PACIFIC
                                   TABLE 91 REST OF ASIA PACIFIC: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 92 REST OF ASIA PACIFIC: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
     10.3 EUROPE 
             10.3.1 EUROPE: RECESSION IMPACT
                       FIGURE 43 EUROPE: MARKET SNAPSHOT
                       TABLE 93 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                       TABLE 94 EUROPE: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
             10.3.2 UK
                       10.3.2.1 Technological advancements in automotive industry to fuel adoption
                                   TABLE 95 UK: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 96 UK: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.3 GERMANY
                       10.3.3.1 Rising investments in advanced manufacturing processes to encourage market expansion
                                   TABLE 97 GERMANY: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 98 GERMANY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.4 FRANCE
                       10.3.4.1 Foreign investments and government-led incentives in electric and hybrid vehicles to boost growth
                                   TABLE 99 FRANCE: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 100 FRANCE: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.5 ITALY
                       10.3.5.1 Rising government support to propel market
                                   TABLE 101 ITALY: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 102 ITALY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.6 SPAIN
                       10.3.6.1 Rise in demand for advanced machine tools to spur growth
                                   TABLE 103 SPAIN: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 104 SPAIN: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.7 SWITZERLAND
                       10.3.7.1 Demand for high-precision components to boost Swiss CNC machines tools market
                                   TABLE 105 SWITZERLAND: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 106 SWITZERLAND: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.3.8 TURKEY
                       10.3.8.1 Metal fabrication and automotive & transportation industries to drive demand for Turkish CNC machine tools market
                                   TABLE 107 TURKEY: MACHINE TOOLS MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 108 TURKEY: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
     10.4 NORTH AMERICA 
             10.4.1 NORTH AMERICA: RECESSION IMPACT
                       FIGURE 44 NORTH AMERICA: MARKET SNAPSHOT
                       TABLE 109 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                       TABLE 110 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
             10.4.2 US
                       10.4.2.1 Rising demand for industrial automation and technological advancements in manufacturing sector to propel market
                                   TABLE 111 US: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 112 US: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.4.3 CANADA
                       10.4.3.1 Increasing production of highly precise components in various industries to spur market expansion
                                   TABLE 113 CANADA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 114 CANADA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.4.4 MEXICO
                       10.4.4.1 Rapid growth of automotive industry to drive market
                                   TABLE 115 MEXICO: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 116 MEXICO: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
     10.5 REST OF THE WORLD 
             10.5.1 REST OF THE WORLD: RECESSION IMPACT
                       FIGURE 45 RUSSIA TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
                       TABLE 117 REST OF THE WORLD: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                       TABLE 118 REST OF THE WORLD: MARKET, BY COUNTRY, 2023–2030 (USD BILLION)
             10.5.2 RUSSIA
                       10.5.2.1 Decrease in import of necessary raw materials and finished machinery impacting the market growth
                                   TABLE 119 RUSSIA: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 120 RUSSIA: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
             10.5.3 BRAZIL
                       10.5.3.1 Emergence in manufacturing sector to drive market
                                   TABLE 121 BRAZIL: MARKET, BY AUTOMATION, 2019–2022 (USD BILLION)
                                   TABLE 122 BRAZIL: MARKET, BY AUTOMATION, 2023–2030 (USD BILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 175)
     11.1 OVERVIEW 
     11.2 KEY PLAYER STRATEGIES 
               TABLE 123 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN MACHINE TOOLS MARKET
     11.3 MARKET RANKING ANALYSIS 
               TABLE 124 MARKET RANKING ANALYSIS, 2023
             11.3.1 MAKINO INC.
             11.3.2 JTEKT CORPORATION
             11.3.3 OKUMA CORPORATION
             11.3.4 DMG MORI
             11.3.5 DN SOLUTIONS
     11.4 COMPANY VALUATION AND FINANCIAL METRICS 
             11.4.1 COMPANY VALUATION, 2023
                       FIGURE 46 COMPANY VALUATION, 2023
             11.4.2 COMPANY FINANCIAL METRICS, 2023
                       FIGURE 47 COMPANY FINANCIAL METRICS, 2023
     11.5 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS 
               FIGURE 48 TOP PUBLIC/LISTED PLAYERS DOMINATING MACHINE TOOLS MARKET, 2018–2022
     11.6 COMPETITIVE SCENARIO 
             11.6.1 NEW PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 125 MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, MARCH 2021–OCTOBER 2023
             11.6.2 DEALS
                       TABLE 126 MARKET: DEALS, APRIL 2021–SEPTEMBER 2023
             11.6.3 EXPANSIONS
                       TABLE 127 MARKET: EXPANSIONS, JUNE 2021–NOVEMBER 2023
     11.7 PRODUCT COMPARISON 
               TABLE 128 MARKET: PRODUCT COMPARISON
     11.8 COMPANY EVALUATION MATRIX 
             11.8.1 STARS
             11.8.2 EMERGING LEADERS
             11.8.3 PERVASIVE PLAYERS
             11.8.4 PARTICIPANTS
             11.8.5 COMPANY FOOTPRINT
                       TABLE 129 MACHINE TOOLS MARKET: COMPANY FOOTPRINT, 2023
                       TABLE 130 MARKET: PRODUCT FOOTPRINT, 2023
                       TABLE 131 MARKET: REGIONAL FOOTPRINT, 2023
                       FIGURE 49 MARKET: COMPANY EVALUATION MATRIX, 2023
     11.9 START-UP/SME EVALUATION MATRIX 
             11.9.1 PROGRESSIVE COMPANIES
             11.9.2 RESPONSIVE COMPANIES
             11.9.3 DYNAMIC COMPANIES
             11.9.4 STARTING BLOCKS
             11.9.5 COMPETITIVE BENCHMARKING
                       TABLE 132 MARKET: KEY START-UPS/SMES
                       TABLE 133 MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
                       FIGURE 50 MARKET: START-UP/SME EVALUATION MATRIX, 2023
 
12 COMPANY PROFILES (Page No. - 196)
     12.1 KEY PLAYERS 
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             12.1.1 MAKINO INC.
                       TABLE 134 MAKINO INC.: COMPANY OVERVIEW
                       FIGURE 51 MAKINO INC.: COMPANY SNAPSHOT
                       TABLE 135 MAKINO INC.: PRODUCTS OFFERED
                       TABLE 136 MAKINO INC.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 137 MAKINO INC.: DEALS
             12.1.2 JTEKT CORPORATION
                       TABLE 138 JTEKT CORPORATION: COMPANY OVERVIEW
                       FIGURE 52 JTEKT CORPORATION: COMPANY SNAPSHOT
                       TABLE 139 JTEKT CORPORATION: PRODUCTS OFFERED
                       TABLE 140 JTEKT CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 141 JTEKT CORPORATION: DEALS
                       TABLE 142 JTEKT CORPORATION: EXPANSIONS
             12.1.3 OKUMA CORPORATION
                       TABLE 143 OKUMA CORPORATION: COMPANY OVERVIEW
                       FIGURE 53 OKUMA CORPORATION: COMPANY SNAPSHOT
                       TABLE 144 OKUMA CORPORATION: PRODUCTS OFFERED
                       TABLE 145 OKUMA CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 146 OKUMA CORPORATION: DEALS
             12.1.4 DMG MORI
                       TABLE 147 DMG MORI: COMPANY OVERVIEW
                       FIGURE 54 DMG MORI: COMPANY SNAPSHOT
                       FIGURE 55 FINANCIAL PERFORMANCE TARGET FOR 2025 (USD BILLION)
                       TABLE 148 DMG MORI: PRODUCTS OFFERED
                       TABLE 149 DMG MORI: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 150 DMG MORI: DEALS
             12.1.5 DN SOLUTIONS
                       TABLE 151 DN SOLUTIONS: COMPANY OVERVIEW
                       FIGURE 56 DN SOLUTIONS: COMPANY SNAPSHOT
                       TABLE 152 DN SOLUTIONS: PRODUCTS OFFERED
                       TABLE 153 DN SOLUTIONS: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 154 DN SOLUTIONS: DEALS
                       TABLE 155 DN SOLUTIONS: EXPANSIONS
             12.1.6 GEORG FISCHER LTD.
                       TABLE 156 GEORG FISCHER LTD.: COMPANY OVERVIEW
                       FIGURE 57 GEORG FISCHER LTD.: COMPANY SNAPSHOT
                       TABLE 157 GEORG FISCHER LTD.: PRODUCTS OFFERED
                       TABLE 158 GEORG FISCHER LTD.: DEALS
                       TABLE 159 GEORG FISCHER LTD.: EXPANSIONS
             12.1.7 AMADA CO., LTD.
                       TABLE 160 AMADA CO., LTD.: COMPANY OVERVIEW
                       FIGURE 58 AMADA CO., LTD.: COMPANY SNAPSHOT
                       FIGURE 59 AMADA CO., LTD.: COMPANY FOOTPRINT
                       TABLE 161 AMADA CO., LTD.: PRODUCTS OFFERED
                       TABLE 162 AMADA CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 163 AMADA CO., LTD.: DEALS
             12.1.8 HYUNDAI WIA CORP.
                       TABLE 164 HYUNDAI WIA CORP.: COMPANY OVERVIEW
                       FIGURE 60 HYUNDAI WIA CORP.: COMPANY SNAPSHOT
                       FIGURE 61 HYUNDAI WIA CORP.: SHARE IN SOUTH KOREAN MACHINE TOOLS MARKET
                       TABLE 165 HYUNDAI WIA CORP.: PRODUCTS OFFERED
                       TABLE 166 HYUNDAI WIA CORP.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 167 HYUNDAI WIA CORP.: DEALS
             12.1.9 YAMAZAKI MAZAK CORPORATION
                       TABLE 168 YAMAZAKI MAZAK CORPORATION: COMPANY OVERVIEW
                       TABLE 169 YAMAZAKI MAZAK CORPORATION: PRODUCTS OFFERED
                       TABLE 170 YAMAZAKI MAZAK CORPORATION: EXPANSIONS
             12.1.10 CHIRON GROUP SE
                       TABLE 171 CHIRON GROUP SE: COMPANY OVERVIEW
                       FIGURE 62 CHIRON GROUP SE: INCOMING ORDERS
                       TABLE 172 CHIRON GROUP SE: PRODUCTS OFFERED
                       TABLE 173 CHIRON GROUP SE: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 174 CHIRON GROUP SE: DEALS
             12.1.11 KOMATSU NTC
                       TABLE 175 KOMATSU NTC: COMPANY OVERVIEW
                       FIGURE 63 KOMATSU NTC: COMPANY GEOGRAPHIC PRESENCE
                       TABLE 176 KOMATSU NTC: PRODUCTS OFFERED
                       TABLE 177 KOMATSU NTC: PRODUCT LAUNCHES/DEVELOPMENTS
             12.1.12 HAAS AUTOMATION, INC.
                       TABLE 178 HAAS AUTOMATION, INC.: COMPANY OVERVIEW
                       TABLE 179 HAAS AUTOMATION, INC.: PRODUCTS OFFERED
             12.1.13 GENERAL TECHNOLOGY GROUP DALIAN MACHINE TOOL CO., LTD.
                       TABLE 180 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: COMPANY OVERVIEW
                       TABLE 181 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: PRODUCTS OFFERED
                       TABLE 182 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 183 GENERAL TECHNOLOGY DALIAN MACHINE TOOL CO., LTD.: EXPANSIONS
             12.1.14 UNITED GRINDING GROUP
                       TABLE 184 UNITED GRINDING GROUP: COMPANY OVERVIEW
                       TABLE 185 UNITED GRINDING GROUP: PRODUCTS OFFERED
                       TABLE 186 UNITED GRINDING GROUP: EXPANSIONS
             12.1.15 INDEX-WERKE GMBH & CO. KG HAHN & TESSKY
                       TABLE 187 INDEX-WERKE GMBH & CO. KG HAHN & TESSKY: COMPANY OVERVIEW
                       TABLE 188 INDEX-WERKE GMBH & CO. KG HAHN & TESSKY: PRODUCTS OFFERED
             12.1.16 CITIZEN MACHINERY CO., LTD.
                       TABLE 189 CITIZEN MACHINERY CO., LTD.: COMPANY OVERVIEW
                       TABLE 190 CITIZEN MACHINERY CO., LTD.: PRODUCTS OFFERED
                       TABLE 191 CITIZEN MACHINERY CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
     12.2 OTHER PLAYERS 
             12.2.1 FFG EUROPEAN & AMERICAN HOLDINGS GMBH
                       TABLE 192 FFG EUROPEAN & AMERICAN HOLDINGS GMBH: COMPANY OVERVIEW
             12.2.2 HMT MACHINE TOOLS LIMITED
                       TABLE 193 HMT MACHINE TOOLS LIMITED: COMPANY OVERVIEW
             12.2.3 SPINNER WERKZEUGMASCHINENFABRIK GMBH
                       TABLE 194 SPINNER WERKZEUGMASCHINENFABRIK GMBH: COMPANY OVERVIEW
             12.2.4 GLEASON CORPORATION
                       TABLE 195 GLEASON CORPORATION: COMPANY OVERVIEW
             12.2.5 GROB-WERKE GMBH & CO. KG
                       TABLE 196 GROB-WERKE GMBH & CO. KG: COMPANY OVERVIEW
             12.2.6 BLASER SWISSLUBE
                       TABLE 197 BLASER SWISSLUBE: COMPANY OVERVIEW
             12.2.7 CASTROL LIMITED
                       TABLE 198 CASTROL LIMITED: COMPANY OVERVIEW
             12.2.8 QUAKER HOUGHTON
                       TABLE 199 QUAKER HOUGHTON: COMPANY OVERVIEW
             12.2.9 SCHULER AG
                       TABLE 200 SCHULER AG: COMPANY OVERVIEW
             12.2.10 ELECTRONICA HI-TECH ENGINEERING PVT. LTD.
                       TABLE 201 ELECTRONICA HI-TECH ENGINEERING PVT. LTD.: COMPANY OVERVIEW
             12.2.11 ACEMICROMATIC GROUP
                       TABLE 202 ACEMICROMATIC GROUP: COMPANY OVERVIEW
             12.2.12 TUNGALOY CORPORATION
                       TABLE 203 TUNGALOY CORPORATION: COMPANY OVERVIEW
             12.2.13 MACHINE TOOLS INDIA LIMITED
                       TABLE 204 MACHINE TOOLS INDIA LIMITED: COMPANY OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
13 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 254)
     13.1 RISING DEVELOPMENT OF CNC MACHINES IN MANUFACTURING PLANTS TO REDUCE OPERATING COSTS AND INCREASE PRODUCTION EFFICIENCY 
     13.2 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 
     13.3 RISING DEMAND FOR ADVANCED TURNING MACHINES TO DRIVE MARKET 
     13.4 CONCLUSION 
 
14 APPENDIX (Page No. - 256)
     14.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
             14.4.1 ADDITIONAL COMPANY PROFILES (UP TO 5)
             14.4.2 MACHINE TOOLS MARKET, BY END USER INDUSTRY, AT COUNTRY LEVEL
             14.4.3 MACHINE TOOLS MARKET, BY AUTOMATION, AT COUNTRY LEVEL
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS 

This research study involved the use of extensive secondary sources, directories, and databases, which were used to classify and gather the facts and figures useful for the technical, market-oriented, and commercial study of the global machine tools market. Primary interviews were conducted to obtain and verify critical inputs on qualitative and quantitative information and to assess the prospects of the machine tools industry. Primary sources mainly included experts from the core and related industries, suppliers, manufacturers, distributors, technology developers, and organizations related to various segments of this industry’s value chain. Detailed interviews were conducted with various primary respondents that included key industry participants, subject matter experts, C-level executives of key market players, and industry consultants.

Secondary Research

In the secondary research process, various secondary sources were used to identify and collect information for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; whitepapers, certified publications; articles from recognized authors, directories, and databases; and articles from recognized associations and government publishing sources. Secondary research has been used to obtain key information about the industry’s value chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from the market- and technology-oriented perspectives.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the global machine tools market scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, trade associations, institutes, R&D centers, and machine tools manufacturers) and supply (machine tools manufacturers, machine tools component manufacturers, and raw material suppliers) sides across four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World. The experts involved in primary interviews are 24% from the demand side, and 76% from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primary interviews. This, along with the in-house subject matter experts’ opinions, led to the findings delineated in the rest of this report.

Global Machine Tools  Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up approach was used to estimate and validate the size of the global machine tools market. In this approach, the machine tools sales statistics were considered at the country level.

  • In terms of value, consumption data of machine tools at the country level was derived to determine the market size. The number of machine tools varied from country to country. The country-level data was summed up to arrive at the region-level data in terms of value. The summation of the country-level market size gave the regional market size, and further summation of the regional market size provided the global machine tools market size.

Global Machine Tools  Market Bottom Up Approach

To know about the assumptions considered for the study, Request for Free Sample Report

The top-down approach was used to estimate and validate the size of the global machine tools market by automation, product type, sales channel, and end user industry. To derive the market size by product type, the global market size in terms of value was divided into milling machines, drilling machines, turning machines, grinding machines, and electrical discharge machines using the penetration and percentage split, respectively. The global market was further segmented at the regional level. A similar approach was used to derive the market size of automation, sales channel, and end user industry segments in terms of value.

Global Machine Tools  Market Top Down Approach

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

Machine tools are stationary, power-driven equipment used to shape or form parts made of metals, alloys, and composites by cutting, grinding, boring, shearing, etc. These machine tools include milling, drilling, turning, grinding, and electrical discharge machines. CNC machine tools are computer-controlled machines, which provide better precision and control than conventional machine tools.

List of Key Stakeholders

  • Automation consultants
  • Companies developing and integrating industrial software
  • Dealers and distributors of machine tools
  • Government regulatory bodies, industry associations, and experts
  • Integrators of automation systems
  • Manufacturers of machine tools
  • Manufacturers of machine tool components
  • Research organizations and consulting companies
  • Technology investors
  • Technology standards organization, forums, alliances, and associations
  • Vendors of CNC machining software

Report Objectives

  • To analyze and forecast the global machine tools market size, in terms of value (USD billion)
  • To define, describe, and project the market based on product type, automation, end user industry, sales channel, and region
  • To analyze and forecast the market, in terms of value, based on product type [milling machines (4-axis, 5-axis, others, universal machines, machining centers), drilling machines, turning machines (Swiss-type, multi-spindle, others, universal machines), grinding machines, and electrical discharge machines]
  • To analyze and forecast the market in terms of value, based on sales channels (events and exhibitions, dealers and distributors, and direct sales)
  • To analyze and forecast the market, in terms of value, based on automation (CNC machine tools and conventional machine tools)
  • To analyze and forecast the market, in terms of value, based on end user industry (automotive and transportation, aerospace, medical, semiconductor, sheet metals, energy and power, capital goods, and others).
  • To analyze and forecast the market across four key regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with major countries in each region.
  • To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with company-specific needs.

  • Additional company profile (Up to 5)
  • Machine tools market, by end user industry, at the country level
  • Machine tools market, by automation, at the country level
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
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Published ON
Feb, 2024
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