Multi-tasking Machine Tools Market Size, Share, and Industry Analysis, By Technology (Conventional and CNC), By Type (Milling, Drilling, Turning, and Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others), and Regional Forecast, 2024-2032

A multi-tasking machine is also called multitasking machining centre. This machine is specifically designed to perform various type of applications such as milling, drilling, and turning, among others, with the use of single machine. The machine has automatic tool-changing function. In most cases, finishing one piece of material into a finished product requires at least two machine tools, such as a lathe and a machining tool. However, a multitasking machine can complete all these processes with a single machine. The machine has several features such as consolidation of processes, reduction of overall operational costs, space saving, high quality, and improved productivity of operations.

The multitasking machine tools market is likely to continue evolving with advancements in technology, including the integration of artificial intelligence, machine learning, and further automation.

Industries such as aerospace, automotive, and medical devices require high-precision components, driving the demand for multitasking machines capable of complex operations.  The marketplace is generally pushed through the growing call for superior productivity, stepped forward machining efficiency, and decreased turnaround time in diverse industries. Additionally, the growing adoption of automation and the developing fashion of industry 4.0 also contribute to the market growth.

The car enterprise is one of the fundamental end-customers of multi-tasking system equipment due to its excessive requirement for complicated machining processes. The aerospace and protection zone is likewise anticipated to make a contribution notably to the marketplace increase as it needs specific and tricky machining operations. Moreover, the clinical gadgets and electronics industries are swiftly adopting multi-tasking equipment to obtain excessive precision and efficiency. These factors drive the market growth.

The COVID-19 pandemic led to disruptions in global supply chains due to lockdowns, restrictions, and workforce challenges. This affected the production and delivery of multitasking machine tools, leading to delays and shortages. Certain industries, such as automotive and aerospace, experienced a decline in demand during the initial phases of the pandemic.

This, in turn, affected the demand for manufacturing equipment, including multitasking machine tools. Many businesses faced financial uncertainties during the pandemic, leading to a reassessment of capital expenditures. Some companies may have postponed or scaled back investments in new manufacturing equipment, impacting the multitasking machine tools market. The need for social distancing and reduced physical presence in manufacturing facilities accelerated the adoption of automation and Industry 4.0 technologies. Multitasking machine tools equipped with advanced automation features could be more appealing in such scenarios. All such factors helped drive the market amid the COVID-19 pandemic.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of COVID-19 on the Multi-tasking Machine Tools Market


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis by Application

Based on application, the global multi-tasking machine tools market is segmented into automotive, general machinery, precision engineering, transport machinery, and others. The others segment consists of energy and electrical.

Multi-tasking machines find application in various sectors such as automotive, metalworking, and general machinery sector. The machines are employed for the production of critical engine components, such as cylinder blocks, cylinder heads, and crankshafts. They can perform milling, turning, drilling, and other operations in a single setup, ensuring precision and efficiency. In automotive research and development, multitasking machines are used for the rapid prototyping of new components, allowing for quick design iterations.

Additionally, multitasking machine tools are increasingly employed in the manufacturing of components for transport machinery, providing versatility and efficiency in handling various machining operations. Furthermore, the machines are used for manufacturing various components such as gear, hydraulic component, crankshafts, cylinder blocks, and cylinder heads. These factors drive the growth of the market.

Regional Analysis

The global multi-tasking machine tools market is divided into five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

The Asia Pacific is set to lead the multi-tasking machine tools market. The regional market growth is attributed to the growth in automotive, general machinery, and aerospace & defense sectors. Multitasking machines are essential in meeting the demand for precision and efficiency in manufacturing diverse components. The automotive industry in the Asia Pacific is a major consumer of multitasking machine tools. As the automotive sector in countries such as China and India continues to grow, the demand for advanced machining solutions, including multitasking machines, is likely to increase. For instance, according to CEIC Data, the automotive sector growth in China increased by 2.5% in 2022 as compared to 2021.

The North America market is projected to grow due to the rising demand from aerospace, automotive, and transportation industries. North America, particularly the U.S., has a robust industrial base, including sectors such as automotive, aerospace, energy, and general manufacturing. This contributes to a consistent demand for advanced machining solutions. The multitasking machine tools market benefits from the continuous advancement of technologies, including CNC (Computer Numerical Control) systems, automation, and Industry 4.0 integration.

The Europe market is projected to grow due to industries such as aerospace, automotive, and medical devices that record an increased demand for complex components. Multitasking machine tools provide the precision and capability needed to produce such intricate parts in a single setup. Major machine manufacturers have a strong presence in Europe, which uplift the market growth.

The Middle East & Africa and South America markets are anticipated to grow with moderate growth. This is owing to factors such as the expansion in automotive and infrastructure related activities, which drives the market growth. 

By region, the distribution of the multi-tasking machine tools market is as follows:

• North America – 25%


• Europe – 29%


• Asia Pacific –36%


• Middle East & Africa – 6%


• South America -4%

Key Players Covered

Major players in the market include DMG Mori AG, Yamazaki Mazak Corporation, Okuma Corporation, Haas Automation Inc, Hurco Companies Inc, Makino Milling Machine Co. Ltd, Doosan Machine Tools, Tsugami Corporation, Breton S.p.A., and Trevisan Machine Tool.

Key Industry Developments

• July 2023: Nakumara –Tome Precision Industry Co. Ltd introduced a new CNC multi-tasking machine named as WY-100V. It is used in applications such as milling and turning. Furthermore, it has features such as faster and improved productivity of operation.


• June 2023: Hyundai WIA Machine Tools Europe, a subsidiary of the Hyundai Motor Group, launched the XM series of multi-tasking machines used for applications such as machining centers, and turning centers. This series has 10 inch spindle and 12 inch spindle and is capable to rotate in 240⁰ rotation. This machine can be more suitable for industries such as aerospace, defense, automotive, and transportation industry.


• November 2022: Methods Machine Tools began the distribution of Nakamura-Tome's SC-100X2 dual-turret multitool, which uses two tools on either side of the upper turret for overlapping machining. It is suitable for Swiss parts with a diameter of more than 25 mm.