Metalworking Machine Market Size

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.