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Machine Tools Market Forecast: What Market Value Is Expected By 2030?
The machine tools market size has shown significant growth in recent years. It is anticipated to expand from $99.87 billion in 2025 to $105.69 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 5.8%. The historical increase can be attributed to several factors including industrial manufacturing expansion, growth in automotive production, the adoption of conventional machining, a consistent demand for metal components, and the availability of skilled machinists.
The machine tools market is projected to experience robust expansion over the coming years. This market is anticipated to reach $133.15 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 5.9%. This projected increase throughout the forecast period stems from factors such as electrification-driven component demand, smart factory investments, the adoption of advanced CNC systems, growth in aerospace manufacturing, and increasing precision engineering requirements. Significant trends expected during this time comprise the rising adoption of CNC machine tools, a strong demand for high-precision machining, greater integration of automation in workshops, an increase in multi-axis machines, and the expansion of custom fabrication.
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#Machine Tools Market Demand Drivers Creating New Revenue Opportunities
The expanding manufacturing industry is anticipated to fuel the growth of the machine tools market going forward. Machine tools are power devices utilized for processing workpieces, serving as essential equipment in the manufacturing of mechanical parts. These machines are employed for forming, cutting, and joining operations. Consequently, growth within the manufacturing sector will heighten the demand for machine tools. For instance, in March 2025, the United Nations Industrial Development Organization, an Austria-based United Nations specialized agency, reported from Australia that global manufacturing output registered a robust growth of 1 percent in the fourth quarter of 2024 on a quarter-over-quarter basis, following strong gains exceeding 0.5 percent in the previous two quarters. Thus, the expanding manufacturing industry is a primary driver for the machine tools market’s growth.
Machine Tools Market Segments: Where Are The Largest Growth Opportunities?
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 Innovation Trends Driving Future Development
Leading firms within the machine tools market are concentrating on creating advanced solutions, including machine tool probes, with the aim of boosting their market profitability. Essentially, a machine tool probe functions as a sensor affixed to a CNC machine tool, serving the purpose of gauging the position, dimensions, and various characteristics of either a workpiece or a cutting tool. An illustrative example occurred in May 2023, when Renishaw PLC, an engineering and scientific technology company situated in the UK, introduced the RMP24-micro, which is a wireless probe designed for machine tools. This device measures 24 millimeters in diameter and 31.4 millimeters in length, rendering it perfectly suited for uses where confined spaces are a significant consideration. The RMP24-micro’s impressive accuracy and consistent repeatability contribute to guaranteeing that components are produced in accordance with precise specifications, thereby minimizing the likelihood of waste and repeated work. By automating operations previously performed by hand, the RMP24-micro has the potential to substantially shorten both setup durations and operational cycles.
Machine Tools Market Major Participants And Competitive Dynamics
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
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#Machine Tools Market Largest Region: Which Geography Holds The Highest Market Share?
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
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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.