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The global machine tools market reached a value of US$91 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$123 Billion by 2027, exhibiting at a CAGR of 4.91% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Machine tools refer to power-driven metal cutting or forming equipments used for metals or other hard materials. There is a wide variety of machine tools available in the market ranging from small workbench mounted instruments to large devices which are used in modern industries. They perform a range of operations such as cutting, forming, drilling, grinding, abrading and nibbling, which help to enhance product uniformity and reduce the human interaction required in different steps of the process. Over the years, the mode of operation of these tools has evolved from numerical control (NC) to computer numerical control (CNC) and direct numerical control (DNC). Manufacturers are also designing advanced machine tools to attain higher productivity.
Machine tools are used in a number of industries such as automotive, aerospace, electronics, precision engineering, etc. Continuous expansion in these industries along with the exploration of new oil and gas fields are the primary drivers for market growth. Moreover, the incorporation of 3D printing technology has aided in minimizing the amount of materials used for producing these tools in recent years. For instance, Yamazaki Mazak, a Japanese machine tool manufacturer, utilizes 3D printing in the production of its CNC machines. Apart from this, several companies are introducing automation into their manufacturing processes to increase their productivity and meet quality standards. This has led to an increase in their profit margins and positively impacted the regulation of resources. Besides this, vendors are also using modern design and simulation engineering softwares to ensure the sturdiness, accuracy and reliability of the machines.
IMARC Group provides an analysis of the key trends in each sub-segment of the global machine tools market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on tool type, technology type and end use industry.
Breakup by Tool Type:
Breakup by Technology Type:
Breakup by End Use Industry:
Breakup by Region:
The report has also analysed the competitive landscape of the global machine tools market with some of the key players being Allied Machine & Engineering, AMADA Holdings, Dalian Machine Tool Group, DMG MORI, FALCON Machine Tools, 600 Group, Yamazaki Mazak, Trumpf, Komatsu, JTEKT, Doosan Machine Tools, Okuma, HYUNDAI WIA, Makino, Schuler, etc.
|Base Year of the Analysis||2021|
|Segment Coverage||Tool Type, Technology Type, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Allied Machine & Engineering, AMADA Holdings, Dalian Machine Tool Group, DMG MORI, FALCON Machine Tools, 600 Group, Yamazaki Mazak, Trumpf, Komatsu, JTEKT, Doosan Machine Tools, Okuma, HYUNDAI WIA, Makino and Schuler|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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