Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Machine Tools Industry Outlook to 2030" report has been added to ResearchAndMarkets.com's offering.
The global machine tools market is on an upward trajectory, with a robust growth projection that envisions it reaching a staggering $113.6 billion by the year 2030. In 2022, the market was estimated at $77.1 billion. This substantial expansion, set at a CAGR of 5% from 2022 to 2030, is driven by several key factors and an analysis of specific segments within the industry. Horizontal Milling Machine
Shaping the modern manufacturing landscape, the global Machine Tools industry is poised for significant growth, offering a multibillion-dollar opportunity for businesses and investors. With technologies to boost efficiency in a range of sectors from automotive to aerospace, the Machine Tools market is set to become an influential player in the industrial ecosystem. This comprehensive market research report provides critical insights into key market trends, potential drivers of growth, and untapped opportunities in the Machine Tools market. Segmented analysis offers a detailed picture of various sectors, including Machining Centers and Lathe Machines, both exhibiting strong growth rates. Detailed analysis of major markets such as the US and China lends a regional perspective, enhanced by insights into other burgeoning markets. Business leaders will find invaluable insights mapping the competitive landscape with a focus on key competitors. A rich discussion of the global economic climate, market sentiment, and global competitiveness make this research an essential guide in navigating the Machine Tools market. Gain access to exclusive content including videos, interviews, and much more, all created to illuminate market trends and provide robust strategic direction.
Machining Centers and Lathe Machines Lead the Way
Machining Centers, a pivotal segment in the machine tools industry, are anticipated to grow at a significant CAGR of 4.7% during the forecast period, ultimately reaching a market value of $24.6 billion. Meanwhile, the Lathe Machines segment is poised for steady growth with an estimated CAGR of 5.5% over the next eight years.
U.S. Market Valued at $7.6 Billion, China's Rapid Expansion
In 2022, the United States accounted for an estimated $7.6 billion within the machine tools market. However, China, the world's second-largest economy, is expected to undergo an impressive transformation, projecting a market size of $41.6 billion by 2030, with a CAGR of 5.5% from 2022 to 2030. Noteworthy growth is also expected in Japan and Canada, with anticipated CAGRs of 3.7% and 4.6%, respectively, over the 2022-2030 period. In Europe, Germany is projected to grow at a substantial 4% CAGR.
Key Competitors in the Machine Tools Industry
The machine tools market is highly competitive, with numerous players vying for market share. Among the notable competitors are:
Ajax Machine Tools International Limited
Accurate Bushing Co. Inc. (Smith Bearing)
AKE Knebel GmbH & Company KG
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Key Topics Covered I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
Here's How Inflationary Pressures Affect the Economy
Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
Here's What's Causing Inflationary Pressures in the Global Market
Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis
Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures
Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates
Competitive Scenario: A Fragmented Marketplace
Machine Tool Manufacturers Bet on Technology to Come Out of the Woods
Vendors Emphasize Product Innovations & Enhancements to Maintain Competitive Edge
Service & Support Emerge as Prime Focus Areas
Product Pricing Continues to be Key Business Strategy
Machine Tools: Market Fortunes Closely Linked to Manufacturing Sector & Economic Environment
Outlook: Long-Term Growth Prospects Remain Optimistic
Trends, Technology & Pain Points: What Lies Ahead for Machine Tools Industry?
Industry 4.0 and its Impact on Machine Tools Industry
A Review of Market Performance over the Past Decade and a Half
An Introduction to Machine Tools
Segmentation by Machine Price & Precision
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
Reshoring Drives Growth Prospects in Developed Markets
Rapid Mushrooming of Job Shops in Developing Countries Poised to Benefit Machine Tools
Automotive Production in Developing Countries Augurs Well for Machine Tools
Recap of COVID-19 Impact on the Automotive Industry in 2020
Switch to Electric Vehicles (EVs) May Affect Demand of Machine Tools
Aerospace Industry: COVID-19 Plays Spoilsport to Airlines Market Affecting the Machine Tool Industry
Emphasis on Specialized Aerospace Materials to Spur Demand for Sophisticated Machine Tools
Overcoming Aerospace Machining Challenges with the Right Machining Tools
Recovery in Construction Activity Offers Growth Opportunities
Waterjet Cutting Machines Eliminates Various Risks in Stone & Tile Cutting
Pandemic Effect on the Construction Industry
Projected Long-Term Growth in the Semiconductor Industry to Drive Future Demand
Impact of COVID-19 on Electrical Equipment & Consumer Electronics Industry
Heavy Equipment/Machinery Manufacturing Industry Promises Bright Prospects
Developments in Renewable Energy Help Spur Market Opportunities
Technology Refinements Boost Demand for Numerical Control (NC) Machine Tools
Advent of 3D-Printing Machines: Marks the Emergence of Next Generation Machine Tools
Steady Growth Anticipated for Multitasking Machine Tools
Smart Machines Grow in Popularity
Smart Cutting Tools for State of the Art Manufacturing
Smart Machining Centers Become Pivotal to COVID-19-Led Shift Towards Smart Manufacturing
Impact of Pandemic on CNC Machines
CNC Systems Become Smarter with Technology-Driven Developments
AI & Machine Learning: En-Route to Disrupt CNC Machine Tools
AI Eliminates Guesswork and Improves Learning for Machine Tools
Adoption of Predictive Analytics Drives Market Growth
Wide-ranging Benefits Fueling Demand for CNC Machine Tools
CNC Machines Finds Application in Wide Spectrum of Application Areas
CNC Machines Help Improve Performance and Productivity
Retrofit Market Keeps CNC Machinery Sales Alive
Robotic-Assisted Technology and Automation Spurs Growth
Trends Across Major Product Markets
Metal Cutting Tools Market: An Overview
Steady Growth Predicted for Metal Cutting Machines Market over the Long Term
Surging Automation in End-Use Industries Drive Growth in the Global Lathe Machines Market
Carbide Tools: Most Sought After
High Speed Steel Cutting Tools: Hopes Pinned onto Powder Metallurgical HSS to Spearhead Growth
Rising Popularity of Carbon Fiber-Reinforced Polymers Bodes Well for Advanced Cutting Tools
Innovative Pricing Strategies: Need of the Hour for Cutting Tool Vendors
Grinding Machines Market: An Overview
Strong Opportunities in Orthopedic Implant Manufacturing over the Long Term
Advanced Grinding Techniques Spearhead Growth
Shortage of Skilled Labor Drives Automation Trends in Grinding Machinery
Digitalization and the Future of Machining
Metal Forming Machine Tools: An Overview
Laser Cutting Machines Market: An Overview
Asia-Pacific to Drive Market for Laser Cutting Machine Tools
Ultrashort Pulsed Laser Technology Gains Popularity
Fiber Laser Technology Gains Prominence at the Expense of CO2 Laser Technology
III. MARKET ANALYSIS UNITED STATES
Machine Tools Market in the US: An Overview
Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
America's Cutting Edge Approach for Enhancing Functioning of Machine Tools Sector
Machine Tools Vital for Defense Manufacturing Activities
Machine Tools Industry: An Overview
Aerospace Industry Vital for Canadian Machine Tools Market
Japan: A Major Machine Tools Market
Trade War and the Pandemic Impact
A Key Import Market for High Performance Machines
China's Machine Tools Exhibits Downward Trend
Manufacturing Industry Output Value Growth (%) in China for the Years 2019 through 2024
End-Use Industry Dynamics to Determine Machine Tools Demand Trends in China
China's Prominence as World's Manufacturing Hub Contributes to Leadership
Automotive Industry Trends Set the Tone for Machine Tools Market
Chinese Military Modernization Augurs Well for Machine Tool Industry
Chinese Machine Tools Market: Percentage Breakdown of Sales Revenue by Tool Makers for 2023E
Chinese Machine Tools Market: Percentage Share Breakdown of Ownership by Tool Makers for 2023E
European Machine Tools Industry: An Overview
Machine Tools Market in India: An Overview
Pandemic Impact on Indian Machine Tools Market
Increased Adoption of CNC-based Tools and Make-in-India Initiative: Long Term Growth Opportunities
Indigenization of Defense Systems Boosts Prospects for Machine Tools Market
Indian Machine Tools Industry Preps Up to Support Exports Demand
Indian Machine Tools Market: Percentage Share Breakdown of Value Production by Region for 2023E
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