Global Precision Machining Market Size & Outlook

The precision machining industry worldwide is expected to reach a projected revenue of US$ 180,253.3 million by 2030. A compound annual growth rate of 7.7% is expected of the worldwide precision machining industry from 2024 to 2030.
Revenue, 2023 (US$M)
$107,061.4
Forecast, 2030 (US$M)
$180,253.3
CAGR, 2024 - 2030
7.7%
Report Coverage
Worldwide

Global precision machining market, 2018-2030 (US$M)

Global precision machining market highlights

  • The global precision machining market generated a revenue of USD 107,061.4 million in 2023 and is expected to reach USD 180,253.3 million by 2030.
  • The market is expected to grow at a CAGR (2024 - 2030) of 7.7% by 2030.
  • In terms of segment, manual operation accounted for a revenue of USD 107,061.4 million in 2023.
  • Manual Operation is the most lucrative operation segment registering the fastest growth during the forecast period.
  • In terms of region, Asia Pacific was the largest revenue generating market in 2023.

Global data book summary

Market revenue in 2023USD 107,061.4 million
Market revenue in 2030USD 180,253.3 million
Growth rate7.7% (CAGR from 2023 to 2030)
Largest segmentManual operation
Fastest growing segmentManual Operation
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationManual Operation

Other key industry trends

  • In terms of revenue, the North America accounted for 27.2% of the global precision machining market in 2023.

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Precision Machining Market Scope

Precision machining market segmentation & scope
CNC Operation
Type
Milling Machining
Laser Machining
Electric Discharge Machining (EDM)
Turning Grinding
Others
End Use
Automotive
Aerospace & Defense
Construction Equipment
Power & Energy
Industrial
Others
Countries
Canada
Mexico
U.S.
Denmark
France
Germany
Italy
Norway
Spain
Sweden
UK
Australia
China
India
Japan
Singapore
South Korea
Thailand
Argentina
Brazil
Kuwait
Saudi Arabia
South Africa
UAE

Precision Machining Market Companies

Name Profile # Employees HQ Website

Global precision machining 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 precision machining market will help companies and investors design strategic landscapes.


Manual operation was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Global precision machining market based on manual operation covering the revenue growth of each sub-segment from 2018 to 2030.


  • Global Precision Machining Operation Outlook (Revenue, USD Million, 2018-2030)
    • Manual Operation
    • CNC Operation
  • Global Precision Machining Type Outlook (Revenue, USD Million, 2018-2030)
    • Milling Machining
    • Laser Machining
    • Electric Discharge Machining (EDM)
    • Turning Grinding
    • Others
  • Global Precision Machining End Use Outlook (Revenue, USD Million, 2018-2030)
    • Automotive
    • Aerospace & Defense
    • Construction Equipment
    • Power & Energy
    • Industrial
    • Others

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Target buyers of Global precision machining market databook

  • Our clientele includes a mix of precision machining market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • 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 precision machining market , including forecasts for subscribers. This global databook contains high-level insights into Global precision machining market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Global precision machining market size, by regions, 2018-2030 (US$M)

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