Backed by market attractiveness analysis, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, wider supply chain intelligence, emerging startup coverage, and detailed product-level insights, The Business Research Company’s 2026 market reports are designed to offer research that is more actionable and strategically valuable than ever.
Machine Tools Market Forecast: Value Set To Climb From $105.69 Billion To $133.15 Billion
The machine tools market has shown robust expansion over recent years. Its valuation is forecast to climb from $99.87 billion in 2025 to $105.69 billion in 2026, at a compound annual growth rate (CAGR) of 5.8%. This historical growth can be linked to several contributing factors, including the enlargement of industrial manufacturing, a rise in automotive production, the widespread use of conventional machining, the continuous demand for metal components, and the availability of proficient machinists.
The machine tools market is projected to experience robust expansion over the coming years. This market is anticipated to reach a valuation of $133.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.9%. This projected growth stems from factors such as increased demand for components driven by electrification, significant investments in smart factories, the widespread adoption of advanced CNC systems, expansion in aerospace manufacturing, and escalating requirements for precision engineering. Key developments expected during this timeframe encompass a surge in the adoption of CNC machine tools, a heightened need for high-precision machining, the increasing integration of automation into workshops, the proliferation of multi-axis machines, and the broadening scope of custom fabrication services.
Get A Free Sample Report With In-Depth Market Insights:
Machine Tools Market Growth Drivers: What’s Behind The Acceleration?
The expanding manufacturing sector is set to drive the machine tools market forward. Machine tools are robust devices employed for processing workpieces and serve as vital equipment in the production of mechanical parts. These machines are utilized for shaping, cutting, and joining various tools. As a direct result, growth in the manufacturing industry will increase the demand for machine tools. For instance, in March 2025, the United Nations Industrial Development Organization, a specialized UN agency based in Austria, reported from Australia that global manufacturing output registered a strong increase of 1 percent in the fourth quarter of 2024 on a quarter-over-quarter basis, building upon significant gains of over 0.5 percent in the prior two quarters. Consequently, the burgeoning manufacturing industry is a primary driver for the expansion of the machine tools market.
Machine Tools Market Segments: Where Is Growth Concentrated?
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, Cutting And Forming Machines
2) By Automation Type: Computer Numerical Control (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, Universal Milling Machines
2) By Drilling Machines: Bench Drills, Radial Drills, Multi-Spindle Drilling Machines
3) By Turning Machines: Engine Lathes, Turret Lathes, Swiss-Type Turning Machines
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, Press Brakes, Shearing Machines
Machine Tools Market Trends Redefining Industry Growth
Leading firms within the machine tools market are concentrating on creating advanced solutions, like machine tool probes, to enhance their market profitability. A machine tool probe functions as a sensor affixed to a CNC machine tool, serving the purpose of measuring the position, dimensions, and specific characteristics of either a workpiece or a cutting tool. As an illustration, in May 2023, Renishaw PLC, an engineering and scientific technology company from the UK, introduced RMP24-micro, a wireless probe designed for machine tools. This device measures 24 millimeters in diameter and 31.4 millimeters in length, making it well-suited for situations with limited available space. The exceptional accuracy and consistent repeatability of the RMP24-micro assist in ensuring components are produced according to precise specifications, thereby lessening the potential for waste and additional work. Furthermore, it automates processes that were formerly performed manually, and the RMP24-micro has the capacity to considerably shorten both setup and cycle durations.
Machine Tools Market Key Participants And Competitive Landscape
Major companies operating in the machine tools market are Amada Co. Ltd, DMG Mori Co. Ltd, Yamazaki Mazak Corporation, Haas Automation Inc, Okuma Corporation, GF Machining Solutions, Makino Milling Machine Co. Ltd, JTEKT Corporation, TRUMPF GmbH And Co. KG, Hyundai WIA Corporation, Doosan Machine Tools Co. Ltd, Hurco Companies Inc, Gleason Corporation, EMAG GmbH And Co. KG, Starrag Group Holding AG, MAG IAS GmbH, Hardinge Inc, Dalian Machine Tool Group Corporation, Tsugami Corporation, Haas Schleifmaschinen GmbH, INDEX-Werke GmbH And Co. KG, Kitamura Machinery Co. Ltd, Chiron Group
View The Full Machine Tools Market Report:
Machine Tools Market Geographic Analysis: Where Is Demand Rising Fastest?
Asia-Pacific was the largest region in the machine tools market share in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Reach Out To Our Team:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
