Global Machine Tools Market Size & Outlook, 2024-2030
Global machine tools market, 2018-2030 (US$M)
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Global machine tools market highlights
- The global machine tools market generated a revenue of USD 87,939.9 million in 2022 and is expected to reach USD 137,426.8 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 5.7% by 2030.
- In terms of segment, metal cutting accounted for a revenue of USD 67,785.6 million in 2022.
- Metal Cutting is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2022.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 87,939.9 million |
| Market revenue in 2030 | USD 137,426.8 million |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | Metal cutting |
| Fastest growing segment | Metal Cutting |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metal Cutting, Metal Forming |
Other key industry trends
- In terms of revenue, the North America accounted for 15.7% of the global machine tools market in 2022.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 14,458.1 million by 2030.
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Machine Tools Market Scope
Machine Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global machine tools market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to machine tools market will help companies and investors design strategic landscapes.
Metal cutting was the largest segment with a revenue share of 77.08% in 2024. Horizon Databook has segmented the Global machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Machine Tools Type Outlook (Revenue, USD Million, 2018-2030)
- Metal Cutting
- Machining Centers
- Turning Machines
- Grinding Machines
- Milling Machines
- Eroding machines
- Others
- Metal Forming
- Bending Machines
- Presses
- Punching Machines
- Others
- Metal Cutting
- Global Machine Tools Technology Outlook (Revenue, USD Million, 2018-2030)
- Computer Numerical Control (CNC)
- Conventional
- Global Machine Tools End Use Outlook (Revenue, USD Million, 2018-2030)
- Automotive
- Mechanical Engineering
- Metal Working
- Aerospace
- Electrical industry
- Others
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Our clientele includes a mix of machine tools market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global machine tools market , including forecasts for subscribers. This global databook contains high-level insights into Global machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global machine tools market size, by regions, 2018-2030 (US$M)
Top 10 countries: Machine tools market size, 2024 (US$M)
Global machine tools market share, by technology, 2024 & 2030 (%, US$M)
Machine tools market: Opportunity assessment by country
Global machine tools market, by region, 2024 (US$M)
| Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 13,318.2 | 13,075.2 | 10,651.4 | 13,310.3 | 13,778.2 | 14,270.0 | 14,787.3 | 15,331.6 | 15,935.6 | 16,612.9 | 17,352.9 | 18,173.4 | 19,079.1 | 4.3% |
| Europe | 26,914.8 | 26,781.9 | 19,655.9 | 22,732.8 | 23,787.8 | 24,899.9 | 26,072.7 | 27,309.8 | 28,615.3 | 29,993.6 | 31,449.3 | 32,987.3 | 34,613.1 | 4.8% |
| Asia Pacific | 51,895.7 | 45,835.8 | 38,229.5 | 45,460.9 | 48,388.3 | 51,523.1 | 54,881.1 | 58,479.7 | 62,337.5 | 66,474.6 | 70,913.2 | 75,677.0 | 80,791.7 | 6.7% |
| Latin America | 1,145.8 | 1,110.8 | 859.9 | 1,168.4 | 1,230.5 | 1,296.3 | 1,366.0 | 1,440.1 | 1,518.6 | 1,601.9 | 1,690.5 | 1,784.5 | 1,884.4 | 5.5% |
| MEA | 675.1 | 623.2 | 615.4 | 724.7 | 755.1 | 786.9 | 820.3 | 855.3 | 892.1 | 930.7 | 971.3 | 1,013.9 | 1,058.6 | 4.3% |
| Overall | 93,949.6 | 87,426.9 | 70,012.1 | 83,397.1 | 87,939.9 | 92,776.3 | 97,927.5 | 103,416.5 | 109,299.1 | 115,613.8 | 122,377.2 | 129,636.0 | 137,426.9 | 5.8% |
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