Metal cutting machine tools to capture US$94 billion market

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Rockville, Oct. 06, 2022 (GLOBE NEWSWIRE) — The global machine tool market was valued at US$63 billion at the end of 2021 and is expected to surpass US$107.75 billion registering a CAGR of 5% d by the end of the forecast period 2022-2032. The automotive and transportation segment is estimated to be the most lucrative end use, capturing 36% of overall demand in the global machine tool market.

Additionally, manufacturers are embracing green manufacturing to reduce overall operating costs by using energy-efficient processes that can significantly reduce energy and utility bills, fueling the demand for energy-efficient machine tools. ‘energy.

Furthermore, the penetration of Industry 4.0 and Internet of Things is changing the dynamics of the machine tool market. In addition, technological advancements in the field of manufacturing sectors are rapidly changing the development of machine tools. This, in turn, positively influences the growth of the machine tools market.

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Key takeaways from the machine tool market

  • Metal cutting machine tools are expected to surpass the market value of US$94 billion by the end of 2032.
  • By end user, Electrical & Electronics is expected to grow, gaining 171 bps over the forecast period
  • South Asia is expected to grow 1.2 times faster than East Asia. However, East Asia is estimated to account for a significant portion of the demand pie by the end of the forecast period.
  • The automotive and transportation segment is expected to create an absolute dollar opportunity of approximately $7.5 billion between 2022 and 2032.

Product launches will remain a key growth driver

Key players in the machine tools market are

  • Komatsu Limited
  • DMG Mori
  • Okuma Corporation
  • TRUMPF Group
  • Hyundai WIA Corporation
  • Doosan machine tools

Prominent machine tool manufacturers are launching new products and significantly capitalizing on their R&D efforts to bring constant changes to their product line in line with today’s dynamic industry trends. For instance,

  • In 2020, United Grinding and Ewag developed a new product, Laser Line Ultra, to simplify the production of micro-cutting tools. This newly developed product uses an 8-axis configuration and picosecond lasers to incorporate complex micro-geometries into cutting tools
  • In 2020, Doosan Machine Tools expanded its product portfolio with the introduction of the DNM 4500L and DNM 5700L. The new DNM series products are designed for faster and more precise machining of various workpieces.

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Key Segments Featured in the Machine Tools Industry Survey

  • By product Type :
    • metal cutting
      • Machining centers and related
      • Laser, EDM and related
      • Towers
      • Other metal cutting tools
    • Metal forming
      • presses
      • Punches and Shears
      • Folding and forming machine
      • Other metal forming
  • By End Use :
    • Automotive and transportation
    • Electrical and Electronic
    • Machinery
    • General manufacturing and other end uses
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Middle East and Africa

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More Valuable Machine Tools Market Insights

Fact.MR in its new offering presents an unbiased analysis of the global machine tools market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032.

The study discloses essential information about the machine tools market on the basis of product type (metal cutting machine tools (machining centers, laser, EDM and related, lathes and other metal cutting), machines -metal forming tools (presses, punches and shears, bending and forming machine, other metal forms) and end use (automotive and transportation, electrical and electronics, machinery, general manufacturing and others) in seven major regions .

Contents

1. Summary

1.1. Global Market Outlook

1.2. Global Machine Tools Market – Regional Overview

1.3. Global Machine Tools Market – Opportunity Assessment

1.4. Analysis and recommendations by Fact.MR

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Assessment of risks and market trends

3.1. Impact of the COVID-19 crisis on the automotive sector

3.2. Impact of the COVID-19 crisis on machine tool production and demand

3.3. Impact of the COVID-19 crisis on machine tool prices

3.4. Impact of the COVID-19 crisis on global machine tool imports and exports

3.5. Opportunities for machine tool chemicals due to increased product usage

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