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.
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.
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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.
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
We have 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
- Metal Forming
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
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Machine Tools market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Machine Tools market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2016-2027.For Japan market, this report focuses on the Machine Tools market size by players, by Type, and by Application, for the period 2016-2027.
The key players include the global and local players which play important roles in Japan.
Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-japan-machine-tools-2027-782 Segment by Type Machining CentersTurning MachinesGrinding MachinesElectrical Discharge Machines The top types of machine tools mainly include machining centers (41.7%), turning machines (33.9%), grinding machines (8.1%), electrical discharge machines (3.4%), etc.
Segment by Application Machinery ManufacturingAutomobileAerospace & DefenseOthers The automobile holds an important share in terms of applications, and accounts for 38% of the market share.
Market research trends then and now in 2020 Discussing the market research trends for 2020 seems like a future prediction for it was just yesterday when everyone was overwhelmed with the innovation of smartphones and loved picking up calls sliding that green receiver’s button to answer (even if it’s a research-based or online market research call).Now, the time has flipped and we no longer like to receive calls, instead, notifications on social media are somewhat of an exciting matter.Market research companies in old times used in-depth and laborious efforts to bring out accurate market research results.
It’s 2020 and market research trends have changed dynamically and interestingly to something we would never have had the tiniest idea about.Market Research trends 2020 includes: With mind-blowing inventions and discoveries over the past couple of years such as digitization, artificial intelligence, voice recognition systems, automation, etc.
However, to everyone’s surprise, it has taken huge platforms to derive data and collect insights in a short period of time.
The unprecedented advancements in technology and uprising demand with it, the market research companies have also adopted technology-based techniques to lead the market.
Let’s get the gist of knowledge of what and how market research trends are to be in 2020-1- Automated research and its demand in the marketWith everything getting effective and efficient with automation, the demand to produce research and collect automated data is high and feverish.
The people with decision-making responsibilities require automated data directly on the screens of their systems, which gives them fast solutions to provide fast delivery in the demanded time.It will and is going to help researchers to ready the insights in no time and with perfect conduct.2- Artificial Intelligence in market research for top-notch resultsPeople don’t just need automation, they now require the machines/systems to think and learn themselves.
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global microfluidic components market was worth USD 3.56 Billion in the year 2020.
Microfluidic components have several benefits, including quick analysis, reduced reagent consumption, accurate test results, and fast return on investments.
The market is also constrained by a lack of skilled technicians and unaffordability in low-income economies.Demand for Miniature Portable Devices Driving MarketManually hand-powered portable microfluidic devices are cheap alternatives for point-of-care diagnostics.
Furthermore, microfluidic wearable devices can facilitate physiological signal monitoring, clinical diagnosis, and therapeutics.
Also, the growing market for microfluidic components is also driven by the new applications of microfluidic technology.In-Vitro Diagnosis Increasing Market DemandLab-on-a-chip devices with microfluidic components are far more efficient, and cost-effective.
A joint team from Technion and IBM Research improved the sensitivity of protein detection in immunoassay by more than 1,000-fold using a microfluidic chip.Request For Free Sample Report @ Click hereOil and Gas Segment to Witness Growth During Forecast PeriodBased on applications, the microfluidic components market is segmented into automotive, aerospace & defense, healthcare, consumer electronics, oil & gas, and others.
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And if we talk about Canada, the manufacturing sector there is known to be one of the significant contributors to the country’s economy.The Covid-19 pandemic has exposed the fragility of every industry, and the manufacturing industry has been no exception.
With the global economy reviving slowly but steadily, the manufacturing industries of Canada have also begun to leap towards growth.As per the data available recently, the manufacturing industry of Canada stands at $174 billion of its GDP, which is more than 10% of its total GDP.
The major manufacturing industries in Canada are automobiles and aerospace.Traditionally, Canada’s services and natural resources sectors were the major contributors to the country’s economy.
The recently revived Canadian manufacturing industry is gradually becoming the major contributor.
It boasts a highly skilled and specialized workforce that includes engineers, technicians, researchers, and salespersons.
With a growing manufacturing sector, the demand for highly skilled workers is also growing.The manufacturing industry in Canada has quickly adopted modern technologies and has brought about innovations in the manufacturing process.
AI-powered machines show an easy path to the future by providing some benefits — providing new opportunities, increasing production capacity, and bringing machine technology closer to human interaction.The fourth industrial revolution is knowledge-based work, driven by automation; By creating new ways to automate tasks, people and machines can rebuild a rich, robust digital economy that lives, interacts, and collaborates.
AI facilitates the conquest of many internal challenges in the industry: from lack of expertise to complexity of decision making, integration issues, and overload information.
Businesses can be witnessed to expand in terms of product capabilities and meet the high demand of customers worldwide.Safe operating environment:With so many flaws in the manufacturing plant, a step towards AI means fewer human resources have to do the risky and overworked work.
As robots replace humans and perform routine and hazardous operations, the number of workplace accidents decreases throughout.Novel Opportunities for Humans:As AI takes over the manufacturing plant and automates boring and simple human tasks, workers must focus on complex and innovative tasks.
While AI looks at unskilled labor, humans can focus on driving innovation and transforming their business to advanced levels.Condensed Maintenance Costs:While bringing in AI in the manufacturing industry requires huge capital investment, the ROI is significantly higher.
The development of machine learning techniques, advances in sensors and, therefore, the rise of computing power has helped to produce a new generation of robots.
