Global Metalworking Machinery Manufacturing
Market Report
2024
The Global Metalworking Machinery Manufacturing market will grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Metalworking Machinery Manufacturing market will grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Metalworking Machinery Manufacturing Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.6% |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Metalworking Machinery Manufacturing Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The rising economic activity and investment in the manufacturing sector around the world are primarily driving the growth of the market. Low gasoline prices are also a major driver of market expansion. However, market expansion is anticipated to be constrained by carbon emission restrictions and volatile metal prices worldwide. At the same time, key players' continued research and development is projected to open up new opportunities over the projection period.
Product introductions and new improvements made possible by increased R&D spending are projected to open up new prospects in the market for metalworking equipment worldwide. This attracts various metalworking companies that are attempting to enhance income generation and, in turn, stimulate the expansion of the global market.
For instance, Tsugami India introduced a new CNC lathe machine to the world market in July 2022. The Gantry is a feature of this innovative device.
(Source:themachinemaker.com/amtex/tsugami-india-cnc-machines-amtex-2022)
Due to the rising demand from the automotive industry, the market for metalworking machinery manufacturing is anticipated to expand at a strong rate during the forecast period. Personal car ownership is globally being greatly influenced by the increased customer desire to use personal vehicles for daily transportation. The need for metalworking tools like lathes, drilling machines, grinding machines, etc., is expanding significantly as a result of rising auto sales.
For instance, S&P Global Mobility predicts that new car sales will reach 83.6 million units in 2023, an increase of 5.6% year over year.
Additionally, the rising acceptance of electric vehicles is promoting the registration of new electric cars, primarily in China, the United States, and Europe. This development is anticipated to favorably affect the global market for metalworking equipment during the forecast period.
For instance, more than 10 million electric vehicles were sold globally in 2022, according to the IEA's annual Global Electric Vehicle Outlook, and sales are anticipated to increase by another 35% in 2023 to reach 14 million.
The growth of the market for metalworking machinery is encouraged by the steady economic expansion that is anticipated in many developed and developing nations.
According to forecasts from the International Monetary Fund (IMF), global GDP growth will be 3.3% in 2020 and 3.4% in 2021.
It is also anticipated that recovering commodity prices, which experienced a considerable decrease in the recent past, will support market expansion. Additionally, consistent growth is expected in developed economies over the predicted period.
Additionally, during the projected period, emerging markets are anticipated to grow faster than developed markets. Investments in the end-user markets are expected to rise as a result of stable economic expansion, propelling the market throughout the forecast period.
For the metalworking machinery manufacturing business, the switch from internal combustion engines to electric drivetrains in the automotive sector constitutes a considerable challenge. Electric drivetrains, which have fewer tooled parts, do not require as many extremely exact metal parts as internal combustion engines do. This is the primary cause of the considerable fall in metal cutting and forming machine orders during the past 18 months, excluding the effects of the pandemic. The industry is seeing significant disruption in addition to the general economic unpredictability. Metalworking machinery manufacturers have never previously seen such a substantial shift in their sector as the one brought on by digitalization and new technology. Multitasking and additive manufacturing are examples of product advancements that can serve as viable substitutes for traditional machine tools as the manufacturing industry moves towards increased flexibility.
Significant connectivity and digital advances are advantageous characteristics. Improvements in machine performance and overall equipment effectiveness (OEE) are made possible by the integration of sensors, the use of artificial intelligence (AI), and the integration of advanced simulation elements. New business potential for smart services and new machine tool market models are made possible by new sensors and further communication, control, and monitoring techniques. Each OEM's portfolio is about to include digitally improved offerings. The focus of the USP is undeniably moving towards digital added value. This trend could be a challenge for the machinery manufacturers.
The COVID-19 disease epidemic significantly restricted the market for metalworking machines in 2020 as trade restrictions and manufacturing activity disrupted supply chains decreased as a result of lockdowns imposed by governments around the world. The availability of raw materials, parts, and components from many nations around the globe is crucial to the production of machinery. As many governments imposed restrictions on international trade in goods, producers were forced to suspend operations for want of raw materials and parts. Businesses are anticipated to continue to suffer from the outbreak through 2020 and into 2021. Although it is a "black swan event" and unrelated to enduring or fundamental problems in the market or the global economy, it is anticipated that the metalworking machinery manufacturing market will enhance from the dip throughout the forecast period.
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To meet the needs of numerous end-users, including the automotive, manufacturing, and construction industries, prominent companies in the market are engaged in the development, production, and marketing of metalworking machinery.
February 2023: TRUMPF announced the arrival of a brand-new, completely automated metalworking machine on the North American market in February 2023. The equipment is a TruBend Centre 7020 panel bending machine that can fabricate intricate metal pieces.
Top Companies Market Share in Metalworking Machinery Manufacturing Industry: (In no particular order of Rank)
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In 2023, the Asia Pacific market accounted for 55.0% of worldwide machine tool sales. The Asian economy has grown as a result of quick urbanization, increasing public investment, and rising consumer expenditure, which has fuelled infrastructure growth in the building sector. The main nations propelling the development of the oil & gas, automotive, aviation, and building & construction industries in this area are emerging economies like China, India, and Japan. There is profitable growth potential for sectors as a result of the competition between the Chinese capital markets and a few other Asian economies, which has, in turn, improved the market environment for investments.
In North America, the information technology (IT), building, and mining industries are all experiencing significant expansion. The largest and most powerful economy in the world, North America, is expanding significantly as a result of the industrial dynamics and commodities availability in its nations. Additionally, the epidemic in North America contributed to an economic downturn, which prompted governments to launch a range of stimulus measures. This endeavor will likely stimulate expansion in the building, automobile, and energy sectors. On the other hand, the current Russia-Ukraine conflict may partially restrict economic activity due to inflation and fluctuating raw material prices, which is projected to harm the region's metalworking machinery manufacturing market.
The current report Scope analyzes Metalworking Machinery Manufacturing Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Metalworking Machinery Manufacturing Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Metalworking Machinery Manufacturing Industry growth. Metalworking Machinery Manufacturing market has been segmented with the help of its Type, Application , and others. Metalworking Machinery Manufacturing market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
In 2023, the machine tool manufacturing segment is expected to dominate the market. Machine tools are utilized in a variety of industries and industry verticals, including the automotive and aerospace sectors, among others, to make different components with appropriate flexibility and, speed and precision. The aerospace industry uses CNC machine tools to produce lightweight, precisely tolerated parts for things like fuel access panels, engine mounts, turbines, landing gears, and wheels, among others.
Industry growth has been aided by technological developments like multi-axis arms and robots, as well as the expansion of the manufacturing sector. In addition, the increased emphasis on increasing productivity and decreasing downtime is fueling market expansion.
The cutting tool & tooling system manufacturing category is predicted to increase at the fastest CAGR between 2023 and 2030. Primarily used to cut many kinds of ferrous and non-ferrous metals to create completed tools with the necessary geometry in numerous end-use industries, including automotive, mechanical engineering, metalworking, and aerospace. It provides the finished items with a number of advantages, including surface texture or finish, improved dimensional accuracy, complex shape, and desired size. The rising demand for advanced automated metal-cutting equipment is anticipated to promote market expansion.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Metalworking Machinery Manufacturing Industry. Request a Free Sample PDF!
In 2023, the automotive application market accounted for 41.9% of the revenue share for machine tools globally. The manufacture of vehicle components now makes extensive use of machine tools. Machine tools are widely used for metal cutting and the fabrication of small machine components despite the fact that the automotive industry uses a range of manufacturing techniques. This is because they offer benefits, including enhanced accuracy, dependability, and efficiency.
The construction segment is expected to grow at the fastest rate by application.
The construction industry is predicted by Oxford Economics to increase from USD 9.7 trillion in 2022 to USD 13.9 trillion in 2037, driven by important construction markets including China, the US, and India.
Increased urbanization, population expansion, technology improvements, the need to update current infrastructure, and a greater emphasis on creating sustainable green projects are the key factors driving the industry's growth. Additionally, as a result of an increase in construction projects and anticipated new investments in the construction sector, the market for construction equipment has gradually expanded with an increase in recent equipment sales.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Metalworking Machinery Manufacturing market report 2024 Edition by contacting our team.
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
As a research analyst, Swasti brings a unique blend of analytical prowess and strategic thinking to the table. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations. Her passion lies in leveraging data-driven approaches to guide decision-making and drive organizational success.
I played a central role in market research endeavors and competitive analysis. I have a demonstrated ability to leverage diverse data sources, employing advanced analytics tools to discern patterns and trends. My collaborative approach facilitated effective communication of insights, fostering a culture of data-driven decision-making within the organization. I am committed to continuous professional development, actively seeking opportunities for skill enhancement through workshops, industry conferences, and staying abreast of emerging trends in research methodologies.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Metalworking Machinery Manufacturing Market is witnessing significant growth in the near future.
In 2023, the Fixture Manufacturing segment accounted for noticeable share of global Metalworking Machinery Manufacturing Market and is projected to experience significant growth in the near future.
The Automotive segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies TRUMPF , Kennametal and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Fixture Manufacturing, Machine Tool Manufacturing, Cutting Tool & Tooling System Manufacturing, Industry Mold Manufacturing, Rolling Mill And Other Metalworking Machinery Manufacturing, Machine Tool Accessory Manufacturing, Foundry Equipment Manufacturing, Welding & Soldering Equipment Manufacturing, Others |
Application | Automotive, Aerospace & Defense, Construction, Consumer Goods, Medical, Manufacturing, Electronics, Marine, Energy, Others |
List of Competitors | TRUMPF, Amanda, Kennametal, Komatsu, Okuma, General Electric, Haas Automation, Sandvik, Bosch , Kawasaki Robotics, , Decker, Deere, Kennametal , Parker Hannifin, Dover, Rockwell, Ingersoll-Rand, Yamazaki Mazak |
This chapter will help you gain GLOBAL Market Analysis of Metalworking Machinery Manufacturing. Further deep in this chapter, you will be able to review Global Metalworking Machinery Manufacturing Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Metalworking Machinery Manufacturing Market Trends North America Metalworking Machinery Manufacturing Technological Road Map North America Metalworking Machinery Manufacturing Market Drivers North America Metalworking Machinery Manufacturing Market Restraints North America Metalworking Machinery Manufacturing Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Metalworking Machinery Manufacturing market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Fixture Manufacturing have a significant impact on Metalworking Machinery Manufacturing market? |
What are the key factors affecting the Fixture Manufacturing and Machine Tool Manufacturing of Metalworking Machinery Manufacturing Market? |
What is the CAGR/Growth Rate of Automotive during the forecast period? |
By type, which segment accounted for largest share of the global Metalworking Machinery Manufacturing Market? |
Which region is expected to dominate the global Metalworking Machinery Manufacturing Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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