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Machine Tools Market - Industry Dynamics, Market Size, and Opportunity Forecast to 2031

Global Machine Tools Market: By Product (Milling Machines; Lathe Machines, Laser Machines, Drilling Machines, Turning Machines, Grinding Machines, EDMs, Machining Centers); Industry (Automotive, Aerospace, Construction, Energy, Industrial); Automation (CNC Machine, Conventional Machines); Distribution Channel (Dealers & Distributors, Events & Exhibitions); Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)—Industry Dynamics, Market Size, and Opportunity Forecast Until 2031

  • Published Date: Apr-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0921094  | Delivery: 2 to 4 Hours
Machine Tools Market

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Report AttributeDetails
Market Size Value in 2022US$ 72,109.8 Bn
Expected Revenue in 2031US$ 95,169.1 Bn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD MBn)
Segments coveredBy Product, By Automation Type, By Industry, By Sales Channel, By Region
Key Companies                                                                                                             Ace Micromatic Group, Amada Co. Ltd., CHIRON Group, Dalian Machine Tool Group Corporation (DMTG), DMG MORI, Doosan Machine Tools Co. Ltd., Electronica Hitech Engineering Pvt. Ltd., Georg Fischer Ltd, Gleason Corporation, GROB-WERKE GmbH & Co. KG, Haas Automation Inc., Hyundai WIA, JTKET Corporation, Komatsu Ltd.​, MAG IAS GmbH, Makino​, Okuma Corporation​, Schuler AG, Spinner Machine Tools, Yamazaki Mazak Corporation, Other Prominent Players
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This report provides an analysis of the global market for machine tools for the period 2018 to 2031.

Global Machine tools market is growing at a CAGR of 4.7% over the forecast period 2023-2031.

CNC milling, turning machine or the lathe machine, radial drill, cord drills and the pedestal drills and others.

Increasing manufacturing output in various industries as well as demand for superior quality end products that can only be achieved with high precision machine tools and favorable government policies for the manufacturing sector, are expected to propel the global machine tools market forward.

The high costs of purchasing and installing CNC machines, as well as a scarcity of trained and skilled CNC machine operators, may limit the market's growth.

The regulations/standards covered in the report include Occupational Safety and Health Administration (OSHA) regulations, SLAC - Anti-restart devices (ARDs), SLAC- authorization and training for machine and portable tools, ISO 230-3:2020 - Test code for machine tools and others.

Asia Pacific is growing at the highest CAGR of about 5.2% over 2023- 2031.

Global machine tools market is observed to have competitive nature and is projected to shift towards fragmented nature in the forecast period.

The report covers the following segments: product type, automation type, industry, sales channel and region.

Due to the increased adoption of machine tools for the fabrication of transmission housings, engine cylinder heads, gearbox cases, and brake drums, among other automobile components, the automotive category accounted for 29% of the global machine tools market in 2022.

Some key players operating in the machine tools market include AMADA Co., Ltd., CHIRON Group SE, DMG MORI, Doosan Corporation, Georg Fischer Ltd., Makino and Okuma Corporation.