U.S. Machine Tools Market Size & Outlook, 2024-2030
U.S. machine tools market, 2018-2030 (US$M)
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U.S. machine tools market highlights
- The U.S. machine tools market generated a revenue of USD 10,615.6 million in 2022 and is expected to reach USD 14,458.1 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.9% 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 10,615.6 million |
| Market revenue in 2030 | USD 14,458.1 million |
| Growth rate | 3.9% (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, U.S. accounted for 12.1% 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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U.S. 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 76.25% in 2024. Horizon Databook has segmented the U.S. machine tools market based on metal cutting, metal forming covering the revenue growth of each sub-segment from 2018 to 2030.
The manufacturing sector contributed around 12.0% of the U.S.’s GDP in 2021, according to the National Institute of Standards and Technology (NIST). Furthermore, manufacturing sector is expected to grow at an annual rate of about 1.9% over the period between 2014 and 2024 according to the U.S. Bureau of Labor Statistics.
The growth in the manufacturing sector is expected to boost the demand for machine tools in the automotive, aerospace, mechanical engineering, electrical industry among others. The U.S. presented the IPEF (Indo-Pacific Economic Framework) policy in 2021.
which stated that decarbonization & infrastructure, taxation, and anti-corruption policies support economic cooperation, while fair trade and robust supply chains partially address national security concerns.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. machine tools market , including forecasts for subscribers. This country databook contains high-level insights into U.S. machine tools market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. machine tools market size, by technology, 2018-2030 (US$M)
U.S. Machine Tools Market Outlook Share, 2024 & 2030 (US$M)
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