Machine Tool Market size was valued at US$ 125.1 Bn. in 2022 and the Machine Tool Market revenue is expected to grow at 6 % from 2023 to 2029, reaching nearly US$ 188.1 Bn.

Machine Tool Market Overview

The Machine Tool Market report published by MMR encompasses various segments that offer up-to-date business data and insights into the industry's future through careful assessment and examination. Titled as the Machine Tool Market Report 2021, the report categorizes the market by manufacturer, type, application, and region. It provides an in-depth analysis, revenue statistics, and other crucial data about the global Machine Tool industry. The report also covers various trends, drivers, limitations, opportunities, and threats that the market is expected to face during the forecast period.

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Machine Tool Market Scope

The Machine Tool market report covers the forecast period from 2022 to 2029, with 2021 as the base year. The market size in terms of value and volume for 2021 is estimated based on actual figures and outputs of prominent players worldwide. The market trends from the past five years, specifically from 2016, are taken into account while projecting the market outlook for the period of 2022 to 2029. However, the year 2021 is analyzed separately, considering the impact of regional lockdown measures.

Furthermore, the report provides a comprehensive analysis of the Machine Tool industry, including market segmentation based on product type, applications, end-use, and region. It incorporates an examination of historical market dynamics from 2018 to 2021, enabling readers to compare past trends with the current market scenarios and understand the contributions of key players.

Machine Tool Market Segmentation

With respect to technology, the CNC (Computerized Numerical Control) market is anticipated to expand at the fastest rate of growth over the course of the forecast period. The Digital Transformation of Machine Tools is Driving Demand for CNC Tools Based on technology, the market is split into groups for computerized numerical control (CNC) and traditional. Throughout the projected period, the CNC tools segment is anticipated to lead the market because to the growing need for process automation across various industries.

The increasing automation of production processes due to the growing demand for higher precision and shorter lead times is another factor contributing to the predicted growth of the market. Major manufacturers are thus focusing on creating CNC systems in order to satisfy the various industrial requirements.

Throughout the projection period, the Metal Cutting segment is anticipated to expand at the greatest CAGR based on product. Based on the product technology, the market is separated into groups for metal cutting and metal shaping. Over the course of the projection period, the metal cutting tools market is anticipated to continue to dominate due to growing demand from a variety of industries, including the construction and automotive sectors. Improvements in manufacturing and management have had a favorable effect on the growth of the automobile industry. The growing demand for office space and residential expansion has prolonged the building industry.

Throughout the projection period, the Automotive segment is anticipated to develop at the greatest CAGR based on application. Depending on the application, the market is divided into segments such as automotive, general machinery, precision engineering, transport machinery, and others. The automotive category now holds the biggest market share for machine tools due to the extensive use of numerous equipment in the automobile manufacturing industry. For example, milling is used in the production of engine locks, gearbox cases, wheels, and piston rods for automobiles. Precision engineering is predicted to expand at the quickest rate due to the growing need for high accuracy in the creation of complex products.

1 Machine Tool Market, by Technology (2022-2029)
• CNC (Computerized Numerical Control)
• Conventional
2 Machine Tool Market, by Product (2022-2029)
• Metal Cutting
• Metal Forming
3 Machine Tool Market, by Application (2022-2029)
• Automotive
• General Machinery
• Precision Engineering
• Transport Machinery
• Others(Energy, Electrical and etc.)

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Machine Tool Market Key Players

1. Doosan Corporation
2. AMADA Co., Ltd.
3. Makino
4. Jtekt Corporation
5. GF Machining Solutions
6. DMG Mori Aktiengesellschaft
7. Komatsu Ltd.
8. OKUMA Corporation
9. Hyundai WIA Corporation
10. Schuler AG
11. Chiron Group SE
12. TRUMPF Group
13. Shenyang Machine Tool Group
14. Falcon Machine Tools Co. LTd
15. Liebherr-Machine Tools
16. Ace Manufacturing Systems Limited
17. CHIRON Group SE

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Machine Tool Market Regional Analysis

The Machine Tool market report provides comprehensive insights and understanding of the current trends, dynamics, and key issues within the market. It highlights the most significant developments that impact the industry, helping readers stay informed about the latest advancements. The report aids in identifying the crucial information presented and assessing the competitive landscape of major companies, analyzing Machine Tool market dynamics, and other factors that assist in formulating effective marketing strategies.

Key Questions answered in the Machine Tool Market Report are:

• What is Machine Tool Market?
• What is the forecast period of the Machine Tool Market?
• What is the competitive scenario of the Machine Tool market?
• Which region held the largest market share in the Machine Tool Market?
• What are the opportunities for the Machine Tool Market?
• What factors are affecting the Machine Tool market growth?
• Who are the key players of the Machine Tool market?
• Which company held the largest share in the Machine Tool market?
• What will be the CAGR of the Machine Tool market during the forecast period?
• What key trends are likely to emerge in the Machine Tool market in the coming years?

Key offerings:

• Market Share, Size, and Forecast by Revenue|2022-2029
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis by Machine Tool#
• Landscape- Machine Tooling key players and other prominent key players.

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