Press release
Machine Tools Market on Steady Growth Path, Set to Reach $101.51 Billion in 2025 with Key Drivers and Emerging Trends
Machine Tools Market Size
What Is The Projected Market Size Of The Global Machine Tools Market And Its Growth Rate?
According to reports, the machine tools market is on an upward trend:
• Grew from $96.5 billion in 2024 to $101.51 billion in 2025, at a CAGR of 5.2%
• Market size projected to reach $129.94 billion in 2029, with a CAGR of 6.4%
• Notable growth drivers include industrial revolution, automotive and aerospace growth, precision engineering, and increasing demand across sectors like medical, renewable energy, and defense
What Is Driving The Growth In The Machine Tools Market?
The expansion of the manufacturing industry is a key player driving the growth of the machine tools market. With these devices being integral in the mechanical parts manufacturing process, their demand is expected to increase in line with the manufacturing industry's growth. For instance, manufacturing industries in Australia have witnessed an increase in EBITDA from 50,446 in 2021 to 51,574 in 2022, as per the Australian Bureau of Statistics.
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Who Are the Key Players Driving Machine Tools Market Growth?
Several key players are contributing to the growth of the machine tools market:
• Amada Co. Ltd.
• DMG Mori Co. Ltd.
• Yamazaki Mazak Corporation
• Haas Automation Inc.
• Okuma Corporation
• GF Machining Solutions
• Makino Milling Machine Co. Ltd.
What Are The Key Trends In The Machine Tools Market?
Key trends in the machine tools market include:
• Automation and robotics integration
• Digitalization and industry 4.0
• Demand for multi-functionality
• Sustainable manufacturing practices
• Adoption of 5-axis machining
What Are The Segments Of The Global Machine Tools Market?
The machine tools market can be segmented as follows:
• Product Type: Milling Machines, Drilling Machines, Turning Machines, Grinding Machines, Electrical Discharge Machines
• Automation Type: CNC Machine Tools, Conventional Machine Tools
• Sales Channel: Direct, Indirect
• Industry: Automotive, Aerospace and Defense, Construction Equipment, Power and Energy, Industrial, Other Industries
Which Region Leads The Machine Tools Market?
The largest region in the machine tools market is Asia-Pacific in 2024, expected to be the fastest-growing region in the forecast period as well. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Machine Tools Market Global Market Report?
- Market Size Analysis: Analyze the Machine Tools Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Machine Tools Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Machine Tools Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Machine Tools Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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