1. Market Research
  2. > Manufacturing
  3. > Industrial Equipment Market Trends
Global Machine Tools Market Size, Share & Industry Trends Analysis Report By Type, By Technology, By Sales Channel, By End-use, By Regional Outlook and Forecast, 2021 - 2027

Global Machine Tools Market Size, Share & Industry Trends Analysis Report By Type, By Technology, By Sales Channel, By End-use, By Regional Outlook and Forecast, 2021 - 2027

  • March 2022
  • 299 pages
  • ID: 6273362
  • Format: PDF
  • KBV Research

Summary

Table of Contents

The Global Machine Tools Market size is expected to reach $96.8 billion by 2027, rising at a market growth of 4.0% CAGR during the forecast period.

The industrial sector’s great focus on increasing efficiency and decreasing downtime is projected to fuel market growth. The growing demand for mass production in industries such as aerospace and military, as well as other industries and industry verticals, is likely to increase machine tool usage. Metal cutting tool demand is increasing in tandem with the high use of metals in numerous industries, which bodes well for market growth. Integration of Computer-Aided Producing (CAM) in machine tools to cut the time necessary for manufacturing work pieces and make sure trouble-free production of micro components is becoming a prominent market trend.

The goal of Industry 4.0 is to reduce idle time and improve the usage of machine tools. Analyzing data linked to tool changes and program stops can be particularly useful in identifying and correcting the source of idle time, resulting in more efficient machine tool utilization. Various bearing manufacturers, like The Timken Company and NSK Ltd., are concentrating on the development of bearings for machine tools at the very same time. The Timken Company, for example, launched a new range of precision cylindrical roller bearings in October 2019 that are designed to maximize efficiency and speed in high-demand applications.

Computer Numerical Control (CNC) systems have emerged as a result of advances in machine learning and automation. CNC systems enable operators to send assembly code to a computer and conduct several operations on the same machine without wasting time. Different lubricant makers, on the other hand, are collaborating with market players such as DMG MORI and Komatsu, Ltd. to develop lubricants for their equipment. DMG MORI and FUCHS PETROLUB SE, for example, signed a partnership deal in September 2017 that entails the two firms working together to develop novel lubricant services and solutions for machine tool applications

COVID-19 Impact

In 2020, the outbreak of the COVID 19 pandemic had a significant economic impact on all industrial sectors around the world. Additionally, machine tool manufacturers are encountering issues as a result of this downturn, which has resulted in a production and sales slowdown in 2020. Furthermore, the imposed lockdown has resulted in the complete halt of manufacturing operations, supply chain problems, personnel availability, and raw material shortages.

Amid the emergence of a global strain caused by a new coronavirus, suppliers are concentrating on resuming production while complying with government guidelines to finish pre-existing orders and support end-users. For example, Mazak Corporation is reportedly serving its clients’ existing orders and aggressively giving help to the healthcare and power generation industries, despite the government’s execution of worker safety regulations.

Market Growth Factors

Growing need for smart machine tools.

The technological breakthroughs such as the increased deployment of robotics and human-machine interaction are found to have an impact on market growth. The demand for real-time connectivity is fuelling the emergence of smart factories that are cloud-enabled. As a result, the tool is becoming an important component of smart systems, which is projected to boost the product’s popularity. Sensors are included in these smart equipment to help optimize machine time and maintenance schedules. This information can be examined and used to boost productivity. Furthermore, the sensors can help with predictive analysis of these tool parts and their life cycle.

High Demand for Additive Manufacturing and Hybrid Machine Tools

A rise in demand for additive manufacturing is contributing to the market growth. Manufacturers are moving toward more cost-effective and quick production processes, which is leading to a rise in the use of additive manufacturing. Moreover, the market is predicted to expand due to the increased popularity of heterogeneous material manufacturing capabilities. CNC manufacturers intend to incorporate additive manufacturing into their operations. Okuma, for instance, plans to offer its new Laser EX equipment in the future, which will provide laser hardening for carbon steel materials, as well as laser heating and self-cooling hardening. As a result, such creative technology combinations are projected to continue to support market expansion in the future.

Market Restraining Factors

Uncertainty related to social and economic factors

Changes in overall economic conditions are causing a significant change in the operation of various industries, including manufacturing sector. The manufacturing industry’s expenditures are proportionate to the sales of these tools. As a result, if the global economy slows, machine tool income is projected to fall. Similarly, due to the increased acceptance of machinery in the industry, trends in the automobile industry have had a greater impact on the tools sector. The patterns in capital investment in the automotive manufacturing sector, on the other hand, have a substantial impact on market revenue. Unexpected changes in a country’s economic, political, or social situations, as well as legislation, can have an impact on the market revenue growth.

Type Outlook

Based on Type, the market is segmented into Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, and Others. The Lathe segment acquired the highest revenue share in the machine tools market in 2020. This can be ascribed to the increasing use of lathe equipment for tasks like chamfering, filleting, turning, and slot cutting. The use of lathe machines has increased in recent years as a result of their ability to eliminate human intervention while boosting the precision of machining processes. Manufacturers like Georg Fischer Ltd. and Haas Automation, Inc. are reacting to the trend by concentrating on the creation of novel lathe machines, which is helping the category grow.

Technology Outlook

Based on Technology, the market is segmented into Computer Numerical Control (CNC) and Conventional. The Conventional market segment procured a substantial revenue share in the machine tools market in 2020. It is due to increased demand for mass manufacturing in industries such as paper, pharmaceuticals, and textiles, among others. The construction industry’s increased employment of traditional systems such as saws, drills, and bores, among others, is also propelling the segment’s rise. Conventional machining is often less expensive and is utilized for smaller-scale jobs.

Sales Channel Outlook

Based on Sales Channel, the market is segmented into Direct and Indirect. The Indirect sales segment garnered a substantial revenue share in the machine tools market in 2020. An indirect sales channel is when a third party, like an affiliate or partner, sells a product or service instead of a company’s employees. Indirect sales can be used in combination with direct sales efforts or as a replacement for hiring. Because indirect distribution relieves manufacturers of some beginning expenses and obligations, which might reduce the amount of time they have to devote to running their businesses, the demand for machine tools via this channel is expected to increase in the future years.

End-use Outlook

Based on End-use, the market is segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial and Others. The Automotive segment acquired the largest revenue share in the machine tools market in 2020. This is due to an increase in the use of machine tools for the fabrication of engine cylinder heads, transmission housings, brake drums, and gearbox cases among other automotive components. The segment’s growth has also been fueled by the increased demand for CNC machines from carmakers. The COVID-19 epidemic, on the other hand, has impacted Chinese part exports. The closure of assembly factories in nations such as India, South Korea, and Germany among others, is having an impact on automakers’ usage of machine tools.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific procured the maximum revenue share in the machine tools market in 2020. This can be attributable to efforts like "Make in India" and "Made in China 2025," which are being pursued by regional governments to stimulate indigenous manufacturing. To encourage manufacturing investment, the Indian government stated in September 2019 that manufacturing enterprises registered on or after October 1, 2019, will be able to pay corporation tax at a rate of 15%. Moreover, nations in the area, like India, South Korea, and China are among the world’s largest automotive component producers, and the use of machine tools in the manufacturing of automotive components has been increasing across the region. The growing construction industry in the Asia Pacific is expected to increase the demand for machine tools in the region.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Komatsu Ltd. is the major forerunner in the Machine Tools Market. Companies such as AMADA CO., LTD., Okuma Corporation, DMG Mori Co. Ltd. are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hyundai Wia Corporation (Hyundai Motor Company), Schuler Group GmbH, CHIRON Group, JTEKT Corporation, AMADA CO., LTD., Okuma Corporation, DMG Mori Co. Ltd., Komatsu Ltd., Georg Fischer Ltd., and Makino Milling Machine Co., Ltd.

Recent strategies deployed in Machine Tools Market

Partnerships, Collaborations and Agreements:

Jun-2021: Okuma America came into a partnership Rowan-Cabarrus Community College, a public community college in Rowan Country. Through this partnership, Okuma-Rowan-Cabarrus would provide technical training to Okuma consumers, employees, as well as distributors at the Okuma Machine Tool Academy, established across the college’s Advanced Technology Center on the North Carolina Research Campus in Kannapolis.

Sep-2020: DMG MORI came into a partnership with the Illinois Institute of Technology, a private research university in Chicago. This partnership aimed to deliver DMG MORI enhanced DMU-50 5-axis CNC machine as well as additive manufacturing machine to Illinois Tech enabling students to achieve a new experience in cutting-edge production and 3D printing.

May-2020: DMG MORI signed a Memorandum of Understanding with Nikon, is a Japanese multinational corporation. Through this MoU, Nikon’s non-contact laser scanner LC15Dx would be sold combined into DMG MORI’s machine tools. Additionally, the companies would accomplish teamwork by integrating the mutual resources of both enterprises.

Feb-2020: JTEKT Toyoda Americas Corporation formed a partnership with Ace Micromatic Group, the largest repertoire of CNC machine models. This partnership aimed to provide an entire range of fast manufacturing machines to consumers. Additionally, Toyoda’s expertise in these products would enhance companies’ capabilities to provide the requirements in production lineman construction.

Product Launches and Product Expansions:

Jan-2022: Okuma America Corporation introduced the Okuma MA-600HIII, a next-generation machining center lineup. The new machine provides a 10K RPM standard pivot that adequately handles a broad variety of applications, from extensive to high-feed machining. The improved spindle is now armed with a new thru-spindle coolant suction aspect, which abolishes enduring coolant inside the spindle and tool.

Oct-2021: Amada Machinery introduced DPG-150. The digital grinder provides a pre-installed digital projector that employs an authentic digital measurement as well as imaging technology armed with a robot for workpiece changing along with the cutting tool, which can be used by any inexperienced operators for long hours easily.

Oct-2021: The Chiron Group launched DZ 28 twin-spindle vertical machining centers. The machine provides 1,200 mm pivot authorization and a tool magazine with a size of up to 60 tools which require maximum surface capacity and structural precision, along with high production rates and minimum downtime.

Jun-2021: DMG MORI launched DMP 35, a high-speed, compact machining center suitable for a range of materials. The machine provides an inline axis with 15,000 rpm, a direct way of calculating systems in all spindles, and a tool magazine with 15 places for 150 mm long tools.

Jun-2020: Okuma America Corporation introduced the MB-80V, a robust line of CNC metal cutting machines with the debut of a new bridge-style machining center. The machine offers intense machining flexibility due to its exclusively-integrated vertical and double-column machining abilities.

Acquisitions and Mergers:

Jan-2020: AMADA completed the acquisition of LKI Käldman, Finnish sheet metal handling automation manufacturer. This acquisition would allow AMADA not only to survive with increasing demands for the integration of fiber laser cutting machines and automation equipment yet also answers the needs of automation in the European consumers.

Geographical Expansions:

Mar-2022: Okuma America along with Morris Group expanded its geographical footprints by establishing a technical center in Elgin, Illinois. This expansion aimed to deliver technical centers along with display room for CNC machine tools users in greater Chicago as well as the Midwest region of the USA.

Scope of the Study

Market Segments covered in the Report:

By Type

• Lathe Machines

• Milling Machines

• Laser Machines

• Grinding Machines

• Welding Machines

• Winding Machines

• Others

By Technology

• Computer Numerical Control (CNC)

• Conventional

By Sales Channel

• Direct

• Indirect

By End-use

• Automotive

• Aerospace & Defense

• Construction Equipment

• Power & Energy

• Industrial

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Hyundai Wia Corporation (Hyundai Motor Company)

• Schuler Group GmbH

• CHIRON Group

• JTEKT Corporation

• AMADA CO., LTD.

• Okuma Corporation

• DMG Mori Co. Ltd.

• Komatsu Ltd.

• Georg Fischer Ltd.

• Makino Milling Machine Co., Ltd

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Compression Wear And Shapewear Global Market Report 2022

  • $ 4000
  • July 2022
  • 175 pages

Major players in the compression wear and shapewear market are 2XU Pty. Ltd., Acme-McCrary Corporation., Adidas AG, Anita Dr. Helbig GmbH, Ann Chery, CWX, Design Veronique, EC3D Orthopaedic, Hanesbrands ...

  • World
  • United States
  • Marketing Research
  • Sport Practice
  • Industry analysis
  • Urban Population
  • Sports Participation Rate

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on