Global Machine Tools Market to Hit Valuation of US$ 124.5 Billion by 2033 | Astute Analytica

Fueled by innovation and diverse applications, the machine tools market showcases immense growth potential, ensuring businesses enhance productivity, precision, and efficiency across various sectors worldwide.

New Delhi, Jan. 15, 2025 (GLOBE NEWSWIRE) — The global machine tools market is estimated to generate a revenue of US$ 124.5 billion by 2033, registering a CAGR of 4.7% over the period 2025-2033.

The machine tools market continues to exhibit dynamic shifts in demand and production as industries worldwide seek advanced systems for precise fabrication and efficient throughput. In 2023, Europe’s manufacturing hubs delivered about 15,000 CNC units to automotive clients, reflecting steady consumption in high-volume segments. Meanwhile, around 9,200 advanced lathe solutions were arranged across Asia’s production lines throughout the year, signifying a notable rise in adoption among emerging economies. Across North America, more than 11,000 integrated machining centers were detected in major industrial belts in 2023, supported by surging requirements for accuracy in metal shaping. Globally, about 14,500 custom gear hobbing machines were deployed in 2023, finding their way into machinery for both heavy equipment and complex engine assemblies.

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By the end of 2023, over 7,300 five-axis milling devices were documented in aerospace facilities, underscoring an ongoing preference for multi-dimensional operations. During the same period, approximately 18,400 forging and pressing tools were reported to have shipped to construction machinery manufacturers, boosting the collective appetite for high-tonnage equipment. Analysts also note that 12,600 CNC retrofitting initiatives were concluded in 2023, extending the lifespan of older factories’ systems. Late 2023 updates reveal nearly 16,100 tool holders and WorkHolding solutions purchased across Tier-1 suppliers worldwide, while 8,700 laser-cutting machines have been installed in diverse industrial segments to drive speedier component finishing. Moreover, by 2023 year-end, additive-hybrid tools stood at a recorded figure of 5,600 active units, indicating that producers are mixing conventional and additive methods for unique applications.

Entering 2024, machine tool consumption has risen even further, with an additional 3,800 multi-tasking lathes spotted across emerging Asian markets in the early months. Reports indicate that 9,500 robotic attachments have been integrated with CNC lines, enabling faster setups and hands-free operations in high-output facilities. By mid-2024, about 6,400 high-speed milling units have been established in precision-focused factories, while 4,250 specialized grinding machines have come online in Europe, supporting demands for finer tolerances in metal forming. In the automotive sector, 10,300 CNC-based drilling setups have been incorporated into engine-block assembly lines in 2024 to streamline the production of lightweight and fuel-efficient powertrains.

Key Findings in Machine Tools Market

Milling Equipment Maintains A Strong Annual Growth Momentum and is Poised to Keep Growing at a CAGR of 7.4%

Milling machines, recognized for their versatility and capacity to perform complex cutting operations, are forecasted to grow at a notable CAGR of 7.4% in the near term. In 2023, the industrial sector reported purchasing 8,500 newly configured milling centers designed for multi-sided operations, a figure propelled by the pressing need for synchronized steps in aerospace component shaping. Across processing plants in Asia, 10,200 custom milling attachments were installed in 2023 to tackle broader throughput assignments, reflecting heightened demand for metal removal across diverse job floors. The year also witnessed 9,400 CNC-based milling machines rolled out in fabrication shops across Europe, focusing on intricate monotonically increasing tasks that call for minimal manual intervention. Automotive suppliers in North America added about 11,600 milling solutions in 2023, speeding up cylinder head finishing and bracket hole drilling. That same year, 7,300 milling units adapted for micromachining tasks were identified globally, catering to specialized sectors, including medical instrumentation. Furthermore, about 6,200 robotic arms were paired with milling stations in 2023, aiming to alleviate operator fatigue and hasten lengthy production cycles.

Stepping into 2024, factories in high-precision sectors continue to adopt new milling configurations, as illustrated by 5,800 freshly commissioned multi-axis systems in advanced engineering plants. Meanwhile, 4,100 heavy-duty milling machines have been embraced by shipbuilding and energy-equipment manufacturers this year, underscoring the rising demand for thick-plate carving capabilities. By mid-2024, 6,700 sophisticated milling tools have been integrated with real-time measuring sensors that detect micro-vibrations during edge trimming. In the aerospace segment, 5,900 titanium milling enhancements have been recorded, reflecting the complexity of cutting heat-resistant components. Researchers also indicate that 4,300 milling setups with integrated coolant systems have gone live this year, reducing tool wear in demanding production lines. Last but not least, an estimated 3,600 digital twinning platforms are in use with milling centers in 2024, validating part geometries before any material is cut. This consistently high adoption stems from the innate flexibility of milling processes, which can adapt to variable design requirements while delivering tight tolerances and refined surface finishes.

Conventional Machine Tools  to Enjoy Fastest Growth at a CAGR of 5.1%

Conventional machine tools, including mechanical lathes, traditional milling machines, and gear-shaping equipment, are poised to experience a CAGR of 5.1%, driven by robust end-user trust and cost-effectiveness. Throughout 2023, an impressive 13,800 conventional lathes found homes in small-to-medium-scale industries worldwide, largely credited to straightforward maintenance and minimal training requirements. Similarly, 9,100 universal milling machines were noted across Asia in 2023, echoing the demand for simpler yet reliable equipment functionalities. Reports also confirm that 11,200 gear-shaping setups were installed globally last year, supporting manufacturers seeking standard solutions without the complexity of full automation. In parallel, about 7,900 mechanical drilling units were adopted by local job shops in 2023, as they often favor robust manual methods over high-end computerized interfaces. Among smaller automotive component suppliers, 10,600 conventional cylindrical grinders were recorded in 2023, reflecting their reliance on proven mechanical designs. Meanwhile, 6,400 overhead belt-driven machines still appeared in use throughout various steel fabrication sites in 2023, signaling that certain industries prize familiarity over advanced technology.

The uptake of conventional machine tools retains momentum, with 5,600 newly reported mechanical lathes complementing low-volume production lines across Africa and South America machine tools market. Notably, 4,900 entry-tier milling systems have also been put into operation this year, showcasing an ongoing appetite for user-friendly solutions. Documented accounts reference 3,700 gear-making devices fitted into workshop expansions in 2024, especially in budget-conscious segments of machinery repair. The year has likewise seen 5,200 older drilling line refurbishments, indicating that some operations prefer to rejuvenate existing assets rather than commit to expensive automation. Furthermore, 3,800 conventional shaping machines have appeared in the rail and ship maintenance sectors, where elaborate software is perceived as less critical than robust hardware. Lastly, around 2,400 dedicated workstations combining a basic CNC kit with conventional drives have emerged in 2024, bridging the gap between purely manual setups and advanced computerized frameworks. The steady demand for conventional platforms primarily stems from proven reliability, affordability, and ease of integration, especially where operators favor mechanical control over advanced digital systems.

Aerospace and Defense Upsurge Affecting Market Demand For Machine Tools

Aerospace and defense industries have become prominent contributors to the machine tools market. In 2023, about 6,700 specialized drilling-and-riveting stations were deployed for aircraft assembly around the globe, reflecting a necessary emphasis on precision fastener placement. Roughly 9,300 high-torque milling platforms were reported in use last year for manufacturing turbine parts, underscoring the sector’s requirement for stable and vibration-free environments. That same year saw 5,800 advanced composite-cutting tools verified in production lines to accommodate carbon fiber structures within next-generation aircraft fuselages. In military vehicle manufacturing, 7,200 multi-axis boring systems were implemented in 2023 to contour critical armor plates. Further investigations show that 8,600 engine casing finishing units have been utilized for rotor fabrication in various defense contracts. Before 2023 had concluded, 10,500 precision grinders emerged in the sphere of ballistic missile component shaping, highlighting the domain’s unwavering commitment to accurate dimensional benchmarks.

The aerospace market’s appetite for tight-tolerance tools has escalated, with 5,900 new five-axis machining centers placed in satellite propulsion system manufacturing alone in 2024. Concurrently, 4,400 heat-resistant alloy turning lines have been documented in turbine blade production, as extreme temperature handling has become a core prerequisite. Within the defense sector, 3,600 ballistic turret lathes, specifically tailored for advanced artillery systems, have come online in 2024. Simultaneously, 4,800 contour smoothing solutions were added for aerospace composite frames, anticipating the next wave of lightweight unmanned aircraft. Surveys also mention 3,300 large-format CNC gantry mills implemented for advanced radar housings during the first half of the year. Additionally, an estimated 2,700 ultra-precise jig-boring units have been placed in newly launched defense-based research labs, signifying a shift toward meticulous testing demands. These developments indicate that aerospace and defense applications often require specialized tooling with advanced controls to handle complex geometries and stringent safety protocols, aligning with a sector that values absolute reliability in mission-critical operations.

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Trumpf and DMG Mori Takes the Central Stage in Machine Tool Market By Capturing Collective Share of over 9.4%

Trumpf holds a considerable share of the machine tools market, reflecting a historic reputation for manufacturing cutting-edge solutions. In 2023, the company reported the deployment of 4,200 laser-based metal fabrication units in various facilities that emphasize sheet precision. Another 5,100 press brake installations were confirmed the same year, reinforcing the company’s foothold in shaping production methods for automotive and consumer electronics. Simultaneously, 2,900 advanced 3D laser-cutting stations were documented among aerospace subcontractors, a testament to Trumpf’s role in addressing complex part geometries. The brand also reached 3,300 reported machine upgrades that integrated real-time software controls with robust mechanical frames in 2023, bridging digital oversight with mechanical reliability. During the transition into 2024, around 2,100 electric punching systems have been distributed to markets looking for quick tool swaps, while 1,700 dedicated laser-welding cells were launched in high-precision medical device manufacturing, spotlighting the brand’s consistent push toward refined engineering. Trumpf’s success stems from well-engineered solutions combining minimal energy consumption, reconfigurable setups, and robust user interfaces that accommodate manufacturers from small specialists to global powerhouses.

DMG Mori, on the other hand, leverages a vast product portfolio and extensive global presence to attract a diverse clientele. In 2023, records show that 3,800 advanced CNC turning centers from DMG Mori were commissioned across Asia, while 4,300 horizontal machining centers found homes in North America, catering largely to automotive and general engineering. Within the European market, 2,500 5-axis vertical mills from the company appeared in 2023, underscoring a focus on next-level capabilities in mold and die manufacturing. That same year, about 3,600 multi-technology machines integrating turning, milling, and grinding steps were delivered globally, offering consolidated operations. As 2024 commenced, 2,200 direct-drive lathes featuring built-in digital diagnostics were registered, reflecting the firm’s drive for connectivity. Additionally, 1,800 DMG Mori machines with automated pallet changers emerged this year, appealing to sectors seeking continuous production with minimal downtime.

Global Machine Tools Market Major Players:

• Ace Micromatic Group
• Amada Co. Ltd.
• CHIRON Group
• Dalian Machine Tool Group Corporation (DMTG)
• DMG MORI
• Doosan Machine Tools Co. Ltd.
• Electronica Hitech Engineering Pvt. Ltd.
• Georg Fischer Ltd
• Gleason Corporation
• GROB-WERKE GmbH & Co. KG
• Haas Automation Inc.
• Hyundai WIA
• JTKET Corporation
• Komatsu Ltd.
• ​ MAG IAS GmbH
• Makino​
• Okuma Corporation​
• Schuler AG
• Spinner Machine Tools
• Yamazaki Mazak Corporation
• Other Prominent Players

Key Segmentation:

By Product 

• Milling Machine
• Lathe Machine
• Laser Machine
• Drilling Machine
• Turning Machine
• Grinding Machine
• Electrical Discharge Machine
• Machining Centers

By Automation Type

• CNC Machine Tools
• Conventional Machine Tools

By Industry

• Automotive
• Aerospace and Defense
• Construction Equipment
• Power and Energy
• Industrial
• Others

By Sales Channel

• Dealers and Distributors
• Events and Exhibitions

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/