Metalworking Machine Market

Metalworking Machine Market Size

The metalworking machine market was valued at USD 94 billion in 2024 and is anticipated to register a CAGR of over 5.2% between 2025 and 2034. The requirement for metalworking tools in the developing countries has considerably expanded since these countries are investing heavily in their infrastructure and manufacturing. This has caused unprecedented growth in the use of sophisticated metalworking machines as the industry seeks to do high-efficiency manufacturing of parts while also providing high-end features.

The World Bank reports that last year global manufacturing value added stood at USD 16.3 trillion which reflects a growing attention towards the industrial sector particularly in developing economies. Besides, the UNIDO reported that growth rates of the Economic performance of the industrial sector Diagrams activity in lower middle and middle-income groups of countries in 2022 reached 3.9 % thus reinforcing the expansion of the sector.

The expanded activity in the automotive, aviation, and electronics sectors has contributed to this. The changing gears of the automotive industry towards electric vehicles and rising demand for lighter materials propel advancement and improvement in the metalworking machinery which makes them a major consumer of these tools for the manufacturing processes.

In a like manner, the requirements by the aerospace industry for high-performance and durable instruments for commercial as well as military purposes further increase the requirement for precision metalworking equipment. The automotive industry has also been experiencing rapid growth levels, with production levels hitting 85.02 million units in 2022 as stated by the OICA. The growth of the metal working machine market has been supported by the growing changes in machinery by the industries’ increased focus on innovation and quality.

The costs portray a risk for firms especially for those looking towards integrating advanced features such as automation, robotics, or 3D printing into their equipment. In this context, Equipment for Technology Transfer (ETT) becomes a critical issue, particularly for small to medium-sized enterprises (SMES), which may not possess enough resources to commit into such elaborate machines.

Moreover, the demand for the relatively cheaper and less sophisticated technologies escalates owing to their inability to return the investment at an expected period, which eventually undermines their competition amidst the rapidly transforming technology era. However, the great dependence on technology has enabled the rapid expansion of industries globally.

Metalworking Machine Market Trends

• The metalworking industry is witnessing a transition as industrial Automation and technological advancements is expected to be the next big thing as it would help in reducing wages and Human error while simultaneously improving efficiency and production processes.
  
• Automation in conjunction with industry 4.0 has further fuelled the growth of the sector as factories are transforming into smart data driven interconnected networks of machines that are capable of self optimization.
  
• Additionally, the metalworking industry also sees automation growing and alongside a constant emphasis on sustainability as well. With an increase in eco conscious customers, optimising strategies to lower emission and make recyclable materials has become a new norm. Furthermore, as companies aim to meet legislative end user expectations sustainable practices are edging out inline environmental concerns. All in all sustainable practices are set to act as a significant differentiator in the competitive landscape of the market.
  

Metalworking Machine Market Analysis

• The demand for metalworking machines in sectors such as automotive, aviation, and heavy equipment manufacturing has provided the momentum for the market expansion. With Industry 4.0 and technology revolution in metalworking machines, such as CNC and additive machines, manufacturing firms are able to enhance productivity without compromising the quality and lowering the operational costs.
  
• Moreover, the focus on sustainable solutions has also altered the market. However, the high assembling cost for modern machinery remains a challenge, although the transition toward greater automation can help overcome this problem. Overall, the trend toward automation will lead to growth in both mature and emerging economies: the latter due to their widening industrial base.

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Based on product, the metalworking machine market is segmented into lathes, milling machines, drilling machines, boring machines and others. Milling machines dominate the market in 2024, acquiring a market of USD 22.8 billion and are expected to grow at a CAGR of       5.5% during the forecast period from 2025-2034.

• CNC devices have become an integral era in the fashion of any automotive industry or since, the aerospace sector general manufacturing industries that need them to have precise frameworks and work with various elements. The growing need for developing lightweight materials and for intricate components used in modern aerospace has also propelled the milling machines market.
  
• Furthermore, the more recent progress in the computer numerical control (CNC) of these devices has made their operation more effective, accurate, and automated which clearly speaks of advances in the aspect of modern manufacturing.

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Based on automation level, the metalworking machine market is segmented into Manual machines, semi-automatic machines and fully automatic machines.

• The fully automatic machines dominated the market in 2024 by acquiring a market share of 45.9% and are expected to grow at a CAGR of 5.7% during the forecast period from 2025-2034. The need for human input on these machines is almost nonexistent, and that leads to the lower chances of human error and decreases the risk for human error, which in turn allows for a constant influx of products with the same great quality.
  
• With the demand for highly precise and complex components surging, industries started to shift their focus on automation to reduce operational costs, which is the reason why fully automatic machines are now a requirement. These fully automated machines are revolutionary in terms of their integration with smart factory systems as well as the increased operational uptime and the capability to bring down labor costs, which allows a greater adoption of them across several industries such as aerospace, automotive and electronics.

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U.S. metalworking machine market size surpassed USD 14.4 billion in 2024. With respect to the global competition, the country houses a robust manufacturing infrastructure, where many companies have begun to invest into new technologies in order to keep up.

• In 2024, the significant growth of China’s share of the Global metalworking certifying machinery market to 35.3% is primarily due to the swift growth of the industrial base and developments in both automation as well as manufacturing stage technologies.
  
• In 2024 this trend will continue with China staying the highest in demand due to a skyrocketing metalwork machinery demand through the automotive, electronics, and heavy machinery sectors. Coupled with the Chinese initiatives such as Made in China 2025 that focus to strengthen the county’s manufacturing capability, there has been a rapid expansion in sophisticated metallic machining technology, which automations and robotics are a part of and focus on. As a result of its sophisticated industrial structure.
  
• Germany has positioned itself as a forefront country for precision engineering, technology and comprehensive engineering infrastructure, as a result, the country is largely oversaturated with the metalworking machines market in Europe. The country is home to some of the most prominent manufacturers of metalworking machinery for the automotive, aerospace and industrial machinery sectors that require high strength, high precision components.
  

Metalworking Machine Market Companies

The metalworking machine industry, with prominent players, such as DMG Mori, Mazak, Haas Automation, Okuma Corporation, and FANUC holds a market share of ~12-15%. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaborations, to meet the growing consumer demand and consolidate their position in the market.

Metalworking Machine Market Companies

Major players operating in the metalworking machine industry include:

• Biesse Group
• CNC Masters
• DMG Mori
• Doosan Machine Tools
• Emag
• FANUC
• Haas Automation
• Hermle
• Makino
• Mazak
• Mitsubishi Heavy Industries Machine Tool
• Okuma Corporation
• Schuler Group
• Toshiba Machine
• Trumpf
  

Metalworking Machine Industry News

• In February 2023, TRUMPF has introduced the TruBend Center 7020, an advanced automated panel bending machine designed for the North American market offering automation on the next level. This machine is promising in all regards and as such, aims to provide greater efficiency in the realm of metalworking.
  

The metalworking machine market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2021 to 2034, for the following segments:

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Market, By Product

• Lathes
• Milling machines
• Drilling machines
• Boring machines
• Others

Market, By Automation Level

• Manual machines
• Semi-automatic machines
• Fully automatic machines

Market, By Application

• Automotive
• Aerospace and defense
• Construction
• Energy and power
• Electronics
• Industrial equipment
• Medical devices
• Consumer goods
• Others

Market, By Material

• Steel 
• Aluminum
• Cast iron
• Titanium
• Other

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Indonesia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa