What Has Been the Growth of the Metalworking Machinery Market So Far?
The metalworking machinery market has seen considerable growth due to a variety of factors.
• The expansion of the metalworking machinery market has been notably robust in the past few years. It is projected to soar from $280.45 billion in 2024 to $301.64 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%.
The surge in the historical period is due to factors such as industrialization, worldwide commerce and export, growth in the automotive sector, and infrastructure advancements.
What Are the Future Growth Projections for the Metalworking Machinery Market?
The metalworking machinery market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for metalworking machinery is projected to experience significant growth in the upcoming years, expanding to a size of $391.6 billion by 2029, at a compound annual growth rate (CAGR) of 6.7%.
This forecasted growth for the period can be linked to factors such as the integration of industry 4.0, adherence to sustainability and environmental regulations, customization and production in smaller batches, reshoring and diversification of the supply chain, along with digital twin and simulation. Key tendencies anticipated during this forecasted period encompass additive manufacturing (3D printing), robotics and automation, hybrid machines, the advent of smart factories, and focus on training and development of the workforce.
What Are The Core Factors Supporting Growth In The Metalworking Machinery Market?
The upswing in the metal working machinery manufacturing market is supported by the steady economic expansion projected in numerous developed and developing nations. To illustrate this, the International Monetary Fund (IMF), a financial institution based in the US, reveals that China's gross domestic product (GDP) ascended from $17.75 trillion in 2021 to $18.1 trillion in 2022. The market's growth is also anticipated to be boosted by the rebound in commodity prices, following a substantial drop during the historical period. During the prediction period, developed economies are predicted to maintain consistent growth. Emerging markets are also anticipated to outpace growth in developed economies over the forecast period. The steady economic expansion is predicted to boost investments in end-user markets, thereby propelling the market during the forecasted period.
What Are The Major Segments Within The Global Metalworking Machinery Market?
The metalworking machinery market covered in this report is segmented –
1) By Type: Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory
2) By Capacity: Small, Medium, Large
3) By Application: Automotive, Manufacturing, Other Applications
Subsegments:
1) By Special Die And Tool, Die Set, Jig, And Fixture: Dies And Punches, Molds, Jigs And Fixtures
2) By Machine Tool: CNC Machine Tools, Lathe Machines, Milling Machines, Drilling Machines, Grinding Machines
3) By Industrial Mold: Injection Mold, Blow Mold, Compression Mold
4) By Rolling Mill And Other Metalworking Machinery: Hot Rolling Mill, Cold Rolling Mill, Forging Machines
5) By Cutting Tool And Machine Tool Accessory: Cutting Tools, Tool Holders, Tool Cutters, Machine Tool Accessories
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What Emerging Trends Are Influencing The Growth Of The Metalworking Machinery Market?
Machine producers are providing high-tech 6-axis CNC milling machines that allow for the efficient creation of intricate parts. This specific form of CNC machining employs computers to manage machine tools like lathes, mills, grinders, and routers. The 6-axis CNC machine transforms a raw metal rod into the final product by manipulating both ends of the fixture. This technique yields high-quality results while reducing mistakes. CNC milling is useful for the small-batch production of complex elements and the creation of unique precision components. Key manufacturers of the 6-axis CNC milling machines include Yamazaki Mazak, DMG MORI, ERLO, Giben International, Haas Automation, Knuth Machine Tools, and IMSA.
Who Are the Key Players In The Metalworking Machinery Market?
Major companies operating in the metalworking machinery market include:
• Sandvik AB
• Berkshire Hathaway Inc.
• TRUMPF Group
• Mitsubishi Heavy Industries Ltd.
• Amada Co. Ltd.
• Toyota Tsusho
• Colfax Corporation
• Fanuc Corp
• Okuma Corporation
• Taiyo Nippon Sanso Corporation
• Caterpillar Inc.
• Deere & Company
• Komatsu Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Atlas Copco AB
• Kennametal Inc.
• Hardinge Inc.
• DMG Mori Co. Ltd.
• Makino Milling Machine Co. Ltd.
• Yamazaki Mazak Corporation
• Doosan Machine Tools Co. Ltd.
• Fives Group
• Gleason Corporation
• Haas Automation Inc.
• Hurco Companies Inc.
• Mori Seiki Co. Ltd.
• Nakamura-Tome Precision Industry Co. Ltd.
• Okamoto Corporation
• Schuler AG
• Shenyang Machine Tool Co. Ltd.
What Is The Most Dominant Region In The Metalworking Machinery Market?
Asia-Pacific was the largest region in the metalworking machinery market in 2023. Western Europe was the second largest region in the metalworking machinery market. The regions covered in the metal working machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
