U.S. & Global Machine Tools Market Share Statistics Projected to Reach USD 90.55 Billion By 2030

According to the research report, the global machine tools market was valued at USD 62.58 billion in 2021 and is expected to reach USD 90.55 Billion By 2030, growing at a CAGR of 4.8% during the forecast period.

The prominent factors favoring the global industry growth include the increased demand in the emerging industry along with the rising adoption of appliances by various manufacturing industries. Moreover, the increasing industrial automation in manufacturing industries resulting in demand for automated solutions like robots and other products is driving market growth.

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Moreover, automation has resulted in Computer Numerical Control (CNC) systems allowing several industry players to rely on strategic alliances like a partnership, creating a lucrative opportunity for the industry. Thus, the advent of advancements along with the rise in the adoption of automatic tools will augment global industry growth.

Based on type, the lathe is the dominating segment in the global market, owing to its high demand in various applications and its properties of formation as per the required industrial task will boost the segment growth. The laser segment is projected to grow at the fastest rate due to its high efficiency.

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Asia Pacific region holds the largest revenue share in the global market. The adoption & utility of machine tools is growing swiftly, as a result of the rapid growth of the manufacturing sector, along with initiatives taken by the economies towards the promotion of the smart manufacturing sector in the region.

Top Market Players Are:

The key players include AMADA Co., Ltd., Ace Micromatic Group, DMG MORI, CHIRON Group SE, Doosan Corporation, FANUC, Haas Automation India Pvt. Ltd, Komatsu Ltd., Electronica Hitech Engineering Pvt ltd, Georg Fischer Ltd., Gleason Corporation, HYUNDAI WIA CORP., Jtekt, OKUMA, Makino, Schuler AG, and Spinner Machines Tools are operating in the global market.

In June 2021, Innse-Berardi and Ingersoll launched Powermax, a manufacturing tool for titanium and aluminum, improving TCO. Powermax has its application in aeronautical, aerospace, and mechanical engineering sectors and can be scaled up with customized options according to the customer's need for the size of the pieces, materials to be machined, and the level of automation required.

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Polaris market research has segmented the machine tools market report based on type, technology, sales channel, end-use, and region:

Machine Tools, Type Outlook (Revenue - USD Billion, 2018 - 2030)

Lathe
Milling
Laser
Grinding
Welding
Winding
Others

Machine Tools, Technology Outlook (Revenue - USD Billion, 2018 - 2030)

Computer Numerical Control (CNC)
Conventional

Machine Tools, Sales Channel Outlook (Revenue - USD Billion, 2018 - 2030)

Direct
Indirect

Machine Tools, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

Automotive
Aerospace & Defense
Construction Equipment
Power & Energy
Industrial
Others

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