The United States machine tools market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Machine tools operate using numerical control, which helps in achieving maximum product uniformity. These tools assist in cutting, shaping, forming, drilling, grinding, abrading, and nibbling metals or other hard materials. They also aid in minimizing human efforts required during cutting and enhancing the overall productivity.
The escalating demand for fabricated metals in the United States represents one of the key factors stimulating the market growth. Moreover, a significant demand for electric vehicles (EVs), autonomous cars and self-driven trucks is increasing the utilization of machine tools in the country. Apart from this, advancements in hardware and software components of computer numerical control (CNC) machines, coupled with the introduction of multi-axis and robotic arms, are driving the market growth. Furthermore, the setting up of various manufacturing plants is providing lucrative opportunities to players in the United States.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States machine tools market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on tool type, technology type and end use industry.
Breakup by Tool Type:
- Metal Cutting
- Metal Forming
Breakup by Technology Type:
- CNC (Computerized Numerical Control)
Breakup by End Use Industry:
- Aerospace and Defense
- Electrical and Electronics
- Consumer Goods
- Precision Engineering
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Tool Type, Technology Type, End Use Industry, Region
||Northeast, Midwest, South, West
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Key Questions Answered in This Report:
- How has the United States machine tools market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the United States machine tools market?
- What are the key regional markets?
- What is the breakup of the market based on the tool type?
- What is the breakup of the market based on the technology type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the United States machine tools market and who are the key players?
- What is the degree of competition in the industry?