Global Machine Tools Market worth $98.3 billion in by 2027
                     MarketsandMarkets 
Presents
Global Machine Tools Market worth 
$98.3 billion in by 2027
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The report "Global Machine Tools Market by product type (Milling 
Machines, Drilling Machines, Turning Machines, Grinding 
Machines, Electrical Discharge Machines), Automation Type, 
Industry Segment, Sales Channel, and Region – Global Forecast 
to 2027" The machine tools market is estimated to be USD 77.0 billion in 
2019 and is projected to reach USD 98.3 billion by 2027, at a CAGR of 
3.2%. 
The overall machine tools market is highly governed by the continually 
rising industrial manufacturing and processing sector worldwide. Asia 
Pacific is estimated to remain a frontrunner in the market during the 
forecast period. Several technological advancements have been 
introduced by the machine tools manufacturers in Europe and North 
America due to the demand for highly sophisticated products and 
components from the end users from those regions. The overall machine 
tool industry is quite fragmented with international and domestic players 
in the market. 
Browse 44 market data Tables and 46 Figures spread 
through 135 Pages and in-depth TOC on "Global Machine Tools 
Market”
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Electrical Discharge Machine is the fastest growing product type
EDM is an important process in metal fabrication. Cutting of metals with 
precision and accuracy to the exact dimensions has been a driver for the 
acceptance of the EDM machines in the industrial sector across the 
globe. Advancement in the EDM machines has been possible due to 
continuous R&D efforts by major machine tools manufacturers. China is 
the leader in the introduction of EDM machines and is expected to 
surpass the North American and Rest of Asia markets taken together. In 
Europe, the maximum demand for EDM machines is mainly observed in 
Germany and Italy.
Direct sales is expected to be the fastest growing sales channel 
for the machine tool industry
Direct sales is selling directly to the consumers without any intervention 
of external parties. This is achieved via personal arrangements, in-
person demos, and direct online sales. This helps in gaining direct 
feedback from the customer regarding the product or service and can be 
handled quickly. There is no requirement for sharing the revenues with a 
channel partner or reseller. The sales process, pricing, and all the 
components of the process can be controlled directly by the 
manufacturers.
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068
 
Asia Pacific is the largest market for the machine tool industry, 
followed by Europe
Chinese economy growth is stable and the interest in spending money to 
develop high quality products and components is rising and will continue till 
the next decade. There has been growth in the manufacturing industry, and 
investments by major manufacturers in developing countries like India and 
China have increased. Other Asian countries such as Japan, Korea, and India 
are showcasing promising growth for the years 2017–2018, which is expected 
to continue until 2027. The Asian market is the hub for the European and 
North American machine tool manufacturers.
Automotive and Transportation industry is expected to lead the 
market in terms of machine tool consumption
Primary industry users like automotive, aerospace and defense, railways, 
capital goods, and consumer durable sectors have a high demand for 
machine tools. The automotive industry is adopting the integration of 
technologies such as AI, IOT, robotics, etc., which will serve the demands of 
the end users. Major efforts are made to upgrade engine technologies to 
meet the fuel efficiency mandates and NCAP rating globally. This will further 
add to the re-tooling of the existing machining solutions. 
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CNC machine tools are expected to dominate the market globally
CNC machines segment holds the major market share of the machine 
tool market and is expected to grow further in the future due to the 
increasing demand from the manufacturing companies for productivity 
improvements and product innovation. Growth in the manufacturing 
sector has led to a rapid increase in demand specifically for the 
increasingly sophisticated CNC machines. Automation of machine tools 
leads to enhanced productivity, time saving, and elimination of human 
errors. The new age CAD/CAM CNC machines are compact in size are 
equipped with automatic tool changers along with multi axis machining 
technology and can carry out the entire machining process using a single 
machine.
The machine tools market is dominated by Doosan Machine Tools Co. Ltd 
(Japan), AMADA Pvt. Ltd. (Japan), Makino (Japan), JTKET Corporation 
(Japan), Georg Fischer Ltd. (Switzerland), Komatsu NTC Ltd. (Japan), 
OKUMA Corporation (Japan), Hyundai WIA (South Korea), Schuler AG 
(Germany), Chiron Group SE (Germany), MAG IAS GmbH (Germany), 
GROB-WERKE GmbH & Co. KG (Germany), Haas Automation Inc. (USA), 
Gleason Corporation (USA), Spinner Machine Tools (Germany), Dalian 
Machine Tools Group Corporation (China), Yamazaki Mazak Corporation 
(Japan), DMG MORI (Germany), Electronica Hitech Engineering Pvt. Ltd. 
(India), Ace Micromatic Group (India).
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