Discover trends, market shifts, and competitive outlooks for the machine tools industry through 2025–2034 with The Business Research Company’s reliable data and in-depth research

What Are the Key Milestones in the Machine Tools Market’s Growth Trajectory From 2025 To 2034?
 There has been robust expansion in the machine tools market size in the past few years. Projections indicate a growth from $96.5 billion in 2024 to $101.51 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%. The previous growth period was primarily driven by factors such as the industrial revolution and growth in manufacturing, the phenomena of globalization and industrialization, development in the automotive and aerospace sectors, advancements in precision engineering, and quality standards, along with demands from the military and defense sector.
 
 In the forthcoming years, the machine tools market is predicted to experience robust growth, burgeoning to a market size of $129.94 billion by 2029 with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to the growth within the forecasting period comprise a shift in preference to lightweight materials, ongoing global infrastructure projects, the need for medical and healthcare industry, burgeoning renewable energy sector, and expansion within the aerospace and defense sector. The projected period will witness key trends like the integration of automation and robotics, digitalisation and Industry 4.0, the rising demand for multi-functionality, adoption of sustainable manufacturing procedures and the increasing prevalence of 5-axis machining.
 
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 What Are the Primary Drivers Supporting the Market Growth of the Machine Tools Market?
 The expansion of the manufacturing sector is predicted to boost the machine tools market. Machine tools, which are power devices used to manipulate workpieces, play a crucial role in the production of mechanical elements. They are utilised in shaping, cutting, and attaching tools. Consequently, an increase in the manufacturing sector will drive up the demand for machine tools. For example, the Australian Bureau of Statistics, which is based in Australia, reported in May 2024 that Australia’s manufacturing sectors had seen a rise in EBITDA to 51,574 in 2022, up from 50,446 in 2021. As a result, the expanding manufacturing sector is fuelling the growth of the machine tools market.
 
 Which Primary Segments of the Machine Tools Market Are Driving Growth and Industry Transformations?
 The machine tools market covered in this report is segmented –
 1) By Product Type: Milling Machines, Drilling Machines, Turning Machines, Grinding Machines, Electrical Discharge Machines, Other Product Types
 2) By Automation Type: CNC Machine Tools, Conventional Machine Tools
 3) By Sales Channel: Direct, Indirect
 4) By Industry: Automotive, Aerospace and Defense, Construction Equipment, Power and Energy, Industrial, Other Industries
 
 Subsegments:
 1) By Milling Machines: Vertical Milling Machines, Horizontal Milling Machines, CNC Milling Machines
 2) By Drilling Machines: Bench Drills, Radial Drills, CNC Drilling Machines
 3) By Turning Machines: CNC Lathes, Manual Lathes, Swiss-Type Lathes
 4) By Grinding Machines: Surface Grinders, Cylindrical Grinders, Tool and Cutter Grinders
 5) By Electrical Discharge Machines: Wire EDM Machines, Sinker EDM Machines
 6) By Other Product Types: Laser Cutting Machines, Waterjet Cutting Machines, Fabrication Machines
 
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 Which Regions Are Key Players in the Growth of the What Are the Primary Drivers Supporting the Market Growth of the Machine Tools Market? Market?
 Asia-Pacific was the largest region in the machine tools market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
 
 What Are the Most Significant Market Trends in the Machine Tools Market?
 In the machine tools market, new product innovation is becoming a significantly popular trend. To maintain their market presence, large firms focusing on machine tools are concentrating on innovation. For example, the LMW Machine Tool Division, a prominent automation machinery manufacturing company based in India, unveiled two novel machines in June 2022: the JG 50 Vertical Machining Center and the LF20C Twin G Twin Turret Chucker. They also exhibited three of their most recent machines and machining solutions at the INTEC 2022 exhibition in Coimbatore. The JG 50 Vertical Machining Center stands out with its unique features like extremely high acceleration of more than 1G and a spindle speed that reaches 16,000 rpm. The LF20C Twin G Twin Turret Chucker is noteworthy for its dual spindles and dual turrets, implying that it combines two CNC Turning Centers in a single machine.
 
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 What Parameters Are Used to Define the Machine Tools Market?
 Machine tools, also referred to as stationary power-driven equipment, are used to shape or create pieces made of metal or other materials. These are used for cutting, boring, grinding, shearing, and also used for deformations.
 
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