The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The metalworking machinery market has exhibited robust growth, expanding from $266.84 billion in 2023 to an estimated $286.8 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 7.5%. Anticipating the future, the market is poised for continued expansion, reaching $375.27 billion in 2028, with a CAGR of 7.0%. This growth is fueled by a combination of historical and emerging factors, making the metalworking machinery sector a key player in global industries.

Historical Growth Catalysts

• Industrialization
• Global trade and export
• Automotive industry growth
• Infrastructure development

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Automotive Industry’s Influence on Metalworking Machinery Market

Significant Demand

• The automotive industry is a major consumer of metalworking machinery.
• Encompasses machine tools, welding equipment, and cutting tools.

Precision and Efficiency

• Demand arises from the need for precision and efficiency in manufacturing automotive components.

Example: Chinese Automotive Market

• In August 2023, car sales in China increased by 2.2% YoY, reaching 1.94 million units.
• Reflects the substantial impact of the automotive industry on the metalworking machinery market.

Major Players in the Metalworking Machinery Market

• Key Companies:
  • Sandvik AB
  • Berkshire Hathaway Inc.
  • TRUMPF Group
  • Mitsubishi Heavy Industries Ltd.
  • And many more…

Focus on Automation and Efficiency in Metalworking Solutions

Innovative Approaches

• Major companies emphasize developing innovative solutions, particularly in automation.
• Robotics plays a crucial role in automating processes like welding, cutting, and polishing.

Example: Cobot Spot Welder

• Pro Spot International introduced the world’s first cobot spot welder in May 2023.
• This robotic solution enhances safety and efficiency in the metalworking industry.

Performance Boost

• The i5s resistance spot welder has delivered 2-3x more manufacturing capacity than manual spot welding.

Market Segmentation

Key Segments

1. By Type:
   • Special Die And Tool
   • Die Set, Jig, And Fixture
   • Machine Tool
   • Industrial Mold
   • Rolling Mill And Other Metalworking Machinery
   • Cutting Tool And Machine Tool Accessory
2. By Capacity:
   • Small
   • Medium
   • Large
3. By Application:
   • Automotive
   • Manufacturing
   • Other Applications

Asia-Pacific’s Dominance in 2023

• Regional Leadership:
  • Asia-Pacific emerges as the largest region in the metalworking machinery market in 2023.
  • Highlights the region’s significance in driving global market dynamics.

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The Metalworking Machinery Global Market Report 2023  provides an overview of the metalworking machinery market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The metalworking machinery market forecast analyzes metalworking machinery market size, metalworking machinery market share, leading competitor and their market positions.

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