China Machine Tools Market Size & Outlook, 2022-2030
China machine tools market, 2018-2030 (US$M)
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China machine tools market highlights
- The China machine tools market generated a revenue of USD 28,450.9 million in 2022 and is expected to reach USD 48,587.9 million by 2030.
- The China market is expected to grow at a CAGR of 6.9% 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 28,450.9 million |
| Market revenue in 2030 | USD 48,587.9 million |
| Growth rate | 6.9% (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, China accounted for 32.4% 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 Asia Pacific, China machine tools market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,873.2 million by 2030.
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Machine Tools Market Scope
Machine Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 76.43% in 2022. Horizon Databook has segmented the China machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
China has been a prominent contributor to the growth of the machine tools market in the Asia Pacific region. The increasing demand for machine tools across various industries, such as aerospace, automotive, building & construction, among others, is positively influencing the growth of the market.
According to the China Association of Automobile Manufacturers (CAAM), in June 2021, China’s vehicle production and sales increased by 28.2 % and 23.8%, respectively compared to 2020. The government as well as a number of major automobile companies are increasingly investing in the country owing to the growing demand for vehicles.
For instance, in 2021, Volkswagen increased its production and also established a new automobile production facility in China. These factors are expected to lead to growth in the production output of the automobile industry, which, in turn, is expected to drive the demand for machine tools in the automobile sector.
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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 country-level data and insights on the China machine tools market , including forecasts for subscribers. This country databook contains high-level insights into China machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China machine tools market size, by type, 2018-2030 (US$M)
China Machine Tools Market Outlook Share, 2022 & 2030 (US$M)
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