The metal working machinery market consists of sales of metal working machinery by entities (organizations, sole traders and partnerships) that produce machines such as cutting tools, metal cutting and metal forming machine tools, metalworking machinery accessories, rolling mill machinery, assembly machinery, fabricating machines, industrial molds, conversion or straightening equipment, special dies, tools, jigs, and fixtures. The metal working machinery market is segmented into special die and tool, die set, jig, and fixture; machine tool; industrial mold; rolling mill and other metalworking machinery; and cutting tool and machine tool accessory.
The global metalworking machinery market is expected to grow from $245.99 billion in 2020 to $262.77 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $357.27 billion in 2025 at a CAGR of 8%.