Canada Machine Tools Market Size & Outlook, 2024-2030
Canada machine tools market, 2018-2030 (US$M)
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Canada machine tools market highlights
- The Canada machine tools market generated a revenue of USD 1,374.7 million in 2022 and is expected to reach USD 1,920.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.3% from 2023 to 2030.
- In terms of segment, metal cutting was the largest revenue generating type in 2022.
- Metal Cutting is the most lucrative type segment registering the fastest growth during the forecast period.
Machine tools market data book summary
| Market revenue in 2022 | USD 1,374.7 million |
| Market revenue in 2030 | USD 1,920.8 million |
| Growth rate | 4.3% (CAGR from 2022 to 2030) |
| Largest segment | Metal cutting |
| Fastest growing segment | Metal Cutting |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metal Cutting, Metal Forming |
| Key market players worldwide | AMADA Co Ltd, Dmg Mori Co Ltd, Georg Fischer AG, Hyundai Motor Co, Komatsu Ltd, JTEKT Corp, Okuma Corp, Hurco Companies Inc, Datron AG, DN Solutions, Makino Milling Machine Co Ltd, General Technology Group Dalian Machine Tool Co., Amera-Seiki, Haas Automation |
Other key industry trends
- In terms of revenue, Canada accounted for 1.6% of the global machine tools market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. machine tools market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 2,700.2 million by 2030.
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Machine Tools Market Scope
Machine Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 76.7% in 2024. Horizon Databook has segmented the Canada machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
The electric vehicles market is projected to grow substantially in Canada over the forecast period owing to favorable government initiatives and tax rebates for zero-emission vehicles. In 2021, 303,073 hybrid electric vehicles, 152,685 battery electric vehicles, and 95,896 plug-in electric vehicles were registered.
But 94.9% of all registered light-duty vehicles remained motor gasoline. Advancements in EV technologies, coupled with favorable government initiatives, are anticipated to fuel the growth of electric vehicles market in Canada.
Increasing demand for automated machining with high-quality surface finish of components is anticipated to fuel machine tools market over the forecast period. For instance, in January 2022, Lens Digital partnered with Can Cam CNC Machines to bring exceptional laser products.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada machine tools market , including forecasts for subscribers. This country databook contains high-level insights into Canada machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada machine tools market size, by technology, 2018-2030 (US$M)
Canada Machine Tools Market Outlook Share, 2024 & 2030 (US$M)
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