Machine Tools Market Size, Share & Industry Analysis, By Technology (Conventional and CNC (Computerized Numerical Control)), By Product (Metal Cutting and Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, and Others), and Regional Forecast, 2025-2032.

The global machine tools market size was valued at USD 125.75 billion in 2024 and is projected to reach a valuation of USD 132.63 billion in 2025. The market is expected to reach USD 229.46 billion by 2032 with a CAGR of 8.1% during the forecast period. 

“Machine Tools Market Size, Share & Industry Analysis, By Technology (Conventional and CNC (Computerized Numerical Control)), By Product (Metal Cutting and Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, and Others), and Regional Forecast, 2025-2032”

Machine tools finds their applications in drilling, cutting, planing, surface finishing, and producing manufacturing parts. Rise in the demand for tailored products, high volume, and precise products is driving the market growth. Usage of IT and AI connectivity by the manufacturers have allowed these manufacturers to enhance their equipment’s efficiency by reducing time required and costs.

The COVID-19 led to a temporary stoppage on the operations of the manufacturing facilities. Post-pandemic, the scenario for the market improved due to demand for the product from various industries.

Nidec Machine Tool Corporation Introduced MV16BxII and MV12BxII

In December 2023, Nidec Machine Tool Corporation introduced MV16BxII and MV12BxII, which are the two new models of double-column machining centers in 2023. These models offer enhanced productivity, and eco-friendly machines. Such product expansion by introducing new products is set to drive the demand for the product in the market.

Growth in the Demand for Precision Manufacturing To Propel The Demand for CNC Machines

Demand for precision manufacturing is boosting the demand for CNC machines which is set to drive the machine tools market growth. Growth in the demand for precision manufacturing in automotive, aerospace, etc., sectors is boosting the demand for integrated and automated systems. CNC machines are made to enhance the productivity by aligning it with demand in the manufacturing sector. These machines are also known for their zero effect on the environment and they also offer enhanced personnel safety to the operators    

On the other side, high installation and operating costs are set to hamper the demand for machine tools especially for price-sensitive economies.  

Reestablishment of Brand Presence by Key Market Players To Propel The Market Positions of The Players

The global machine tools market has key manufacturers which are re-establishing their brand presence through trade shows and exhibitions. In July 2023, Hyundai WIA launched SE2200 Series of small and medium machine tools. These tools are known for their high-speed of operations for diverse materials and for various end-users.

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https://www.fortunebusinessinsights.com/industry-reports/machine-tools-market-101693

Key Industry Development

• January 2024: Methods Machine Tools collaborated with United Grinding for the distribution and supplying of the products of United Grinding solutions across Texas and Louisiana.

List of Key Players Profiled in the Market Report: -

• Yamazaki Mazak Corporation (Japan)


• Doosan Machine Tools Co., Ltd. (South Korea)


• Trumpf (Germany)


• AMADA MACHINE TOOLS CO., LTD (Japan)


• JTEKT Corporation (Japan)


• MAG IAS GmbH (Germany)


• Schuler AG (Germany)


• Makino (Japan)


• Hyundai WIA (South Korea)


• Komatsu Ltd. (Japan)


• Okuma Corporation (Japan)


• FANUC Corporation (Japan)


• Haas Automation Inc. (U.S.)


• Mitsubishi Heavy Industries Machine Tools Co., Ltd. (Japan)

Further Report Findings:

• Asia Pacific led in the global machine tools market share with China pushing the demand for high-precision and intelligent machines. Various companies are engrossing themselves in technologies such as smart machining centers and precision engineering. Several developing countries of the region are also growing owing to the presence of automotive and semiconductor manufacturing facilities. The market was valued USD 67.89 billion in 2024.


• The demand for the product in the North America is attributed to the expansion of manufacturing facilities along with demand for high-precision machine tools for manufacturing of components. Automation across numerous manufacturing plants, technological advancements, and efficient manufacturing processes are also boosting the market development in the region.


• On the basis of product, metal cutting leads the largest the market in terms of revenue owing to its application in numerous processes such as turning, drilling, grinding, eroding, etc. in multiple industries. Metal cutting is further segmented into machining centers, turning machines, grinding machines, milling machines, eroding machines, and others.


• Based on technology, CNC machine tools are set to lead the market as they are suitable for end users as they leads to reduced production costs and energy consumption.

Table of Segmentation