Machine Tools Market Size To Reach $137.43 Billion By 2030

Machine Tools Market Growth & Trends

The global machine tools market size is expected to reach USD 137.43 billion by 2030, registering to grow at a CAGR of 7.0% from 2025 to 2030 according to a new report by Grand View Research, Inc. The increased need for higher efficiency and precision in complex machining tools, as well as lower operating costs in industries, such as aerospace, automotive, and defense, have led to an increased usage of machine tools.

The machining time is more expensive than the setup fees, material expenses, and fees for custom finishing a job or workpiece. Owing to all these advantages, manufacturers are gradually shifting toward the automation of machines to reduce time by rolling out connectivity networks and deploying the latest software. Such technological developments are anticipated to boost the sales of machine tools in the forecast period.

The machine tools products are increasingly getting complex in line with the shifting customer preferences toward higher-quality products. Hence, manufacturers are also gearing up to develop complex products and are accordingly automating their CNC machining processes to enhance product quality while reducing operating costs. For instance, in July 2020, SKODA AUTO Germany GmbH launched automated supplying and ordering of parts for CNC processing lines at its plant in Vrchlabi, Czech Republic as part of the efforts to increase the productivity of the plant.

Machine tool manufacturers are trying aggressively to develop energy-efficient tools to cater to the manufacturers’ needs to reduce operating costs while eliminating errors in manufacturing, leveraging IoT technology and predictive analytics capabilities. For instance, automotive companies are increasingly opting for CNC machining in line with the growing demand for spare parts with higher precision.

Industry 4.0 is particularly encouraging digital transformation across the entire automotive industry, spanning automotive OEMs, dealers, and suppliers, among other industry stakeholders, which bodes well for the growing demand for CNC machine tools. The motorsport industry is particularly using CNC machine tools to reduce manufacturing time and to ensure that components are manufactured flawlessly. As such, various racing car manufacturers are striking partnerships with CNC machine tool providers to manufacture precision components.

 Request a free sample copy or view report summary: Machine Tools Market Report

Machine Tools Market Report Highlights

• Machine tools are used across various industries and industry verticals, including automobile, aerospace, and others, to manufacture various components with precision and speed while ensuring adequate flexibility. 

• Metal cutting machines are widely utilized in many end-use sectors such as automotive, mechanical engineering, metal working, and aerospace, to produce completed products with the necessary geometry by cutting various types of ferrous and non-ferrous metals. 

• The use of CNCs as milling machines, lathes, abrasive jet cutters, laser cutters, press brakes, punch presses, and other industrial instruments has been expanding quickly with the development of computers. 

• The electrical and electronics industry is one of the world’s largest industries. It includes a broad range of goods, from bulky consumer electronics to tiny electrical parts.

Machine Tools Market Segmentation

Grand View Research has segmented the global machine tools market on the basis of type, technology, end use, and region:

Machine Tools Type Outlook (Revenue, USD Million, 2018 - 2030)

• Metal Cutting

  • Machining Centers

  • Turning Machines

  • Grinding Machines

  • Milling Machines

  • Eroding machines

  • Others

• Metal Forming

  • Bending Machines

  • Presses

  • Punching Machines

  • Others

Machine Tools Technology (Revenue, USD Million, 2018 - 2030)

• Computer Numerical Control (CNC)

• Conventional    

Machine Tools End Use (Revenue, USD Million, 2018 - 2030)

• Automotive

• Mechanical Engineering

• Metal Working

• Aerospace

• Electrical industry

• Others

Machine Tools Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Switzerland

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Taiwan

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players of Machine Tools Market

• Amada Machine Tools Co., Ltd.

• CHIRON GROUP SE

• DMG MORI. CO., LTD.

• DN Solutions

• Georg Fischer Ltd.

• HYUNDAI WIA CORP

• JTEKT Corporation

• Komatsu Ltd

• Makino Inc.

• Okuma Corporation

• Hurco Companies, Inc.

• Dalian Machine Tool Group (DMTG) Corporation

• Amera Seiki

• Haas Automation, Inc

• Datron AG