South Korea Machine Tools Market Size & Outlook, 2022-2030
South Korea machine tools market, 2018-2030 (US$M)
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South Korea machine tools market highlights
- The South Korea machine tools market generated a revenue of USD 3,472.3 million in 2022 and is expected to reach USD 5,527.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6% 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 3,472.3 million |
| Market revenue in 2030 | USD 5,527.7 million |
| Growth rate | 6% (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, South Korea accounted for 3.9% 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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South Korea 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 79.43% in 2022. Horizon Databook has segmented the South Korea machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
According to the U.S. Department of State, South Korea is an attractive investment destination for foreign players largely because of its political stability, logistics, and information & communications infrastructure.
South Korea considers the aerospace industry as something that can bring not only added value to the society but also provide a competitive advantage for businesses. This is a major reason for the ability of private companies like Blue Origin and SpaceX to break into the Korean aerospace industry.
By 2031, South Korea hopes to have developed over 100 small satellites and 14 low-Earth orbit communications satellites. This will help the country prepare for future 6G network technologies, which will be critical for autonomous ship management systems.
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Our clientele includes a mix of machine tools market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea machine tools market , including forecasts for subscribers. This country databook contains high-level insights into South Korea machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea machine tools market size, by type, 2018-2030 (US$M)
South Korea Machine Tools Market Outlook Share, 2022 & 2030 (US$M)
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