Global Machine Tools

Report Overview

4th Edition

This study analyzes the global market for machine tools. Products discussed in the report include:

• metal cutting tools, including machining centers and related tools, lasers, EDM, ultrasonic and water jet systems, electron beam machines, lathes (also known as turning machines), grinding and polishing machines, drilling machines, boring machines, gear cutting machines, and milling machines
• metal forming tools:
  • presses (encompassing mechanical, hydraulic, CNC, servo, stamping, turret, punch, and set types, as well as variations and combinations of these)
  • punching and shearing machines, including hydraulic, electric, and linear motor-driven varieties
  • bending and forming machines
  • other metal forming tools such as forging machines, coil-processing systems, die casting machines, and thread rolling machines
• machine tool accessories and spare parts, including comparators, cutting tools, dies, jigs, measuring devices, tool holders, work holders, and replacement machine tool components

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The major machine tool markets are:

• machinery, including producers of all different types of machinery, ranging from construction, agricultural, and mining equipment to industrial machines
• transportation equipment, including manufacturers of automobiles, trucks and buses, aerospace equipment, ships and boats, and components for these vehicles
• primary and fabricated metals:
  • Primary metals encompass numerous industries such as blast furnaces and steel mills, ferroalloys, ferrous and nonferrous castings, and nonferrous metal processing.
  • The fabricated metals market includes producers of relatively low value-added products such as metal cans, shipping containers, cutlery, hand tools, hardware, plumbing and heating fixtures, screw machine products, and metal forgings and stampings.
• electrical and electronic equipment, including manufacturers of appliances, lighting, wiring equipment, communications equipment, watches, industrial and medical instruments, and home electronic items
• all smaller applications for these products, ranging from shops that service producers in a variety of industries to such less traditional markets as construction, packaging, power generation, oil and gas processing, mining, and nondurable goods manufacture

Excluded from the scope of this study are:

• tools designed primarily for home use or nonmetal applications, as well as industrial patterns, welding apparatus, and other types of metalworking machinery (e.g., foundry equipment)
• used machine tools of all types
• related services such as equipment rebuilding, retrofitting, and systems integration

Historical data for 2008, 2013, and 2018 and forecasts for 2023 are provided on a select country-by-country and region-by-region basis for machine tool demand (by product type and by market).

Global demand for machine tools is projected to climb 3.8% per year through 2023 to $174 billion, supported by:

• solid advances in global durable goods production capacity, particularly in developing countries such as India, China, and Russia
• a shift in the product mix toward higher value, more technologically advanced products as producers work to boost output, increase efficiency, and produce more sophisticated manufactured goods
• an ongoing transition to more expensive, automated models aided by research and development

Key Regional Trends Through 2023

Global gains will be concentrated in countries with developing durable goods industries:

• Strong growth is expected in China – by far the largest market for machine tools – where demand will expand 5.6% per annum through 2023, when the country will account for 41% of global demand for these products.
• Demand in India will expand quickly as the country undergoes rapid industrialization.
• The markets for machine tools in Central and South America and Eastern Europe will expand at a healthy pace as countries in the region recover from turbulent economic conditions.

Healthy growth is also expected in the mature regions of Western Europe and North America due to:

• improving market conditions in numerous regional countries as both overall economic growth and gross fixed investment continue to increase
• ongoing adoption of more advanced and specialized machine tools, as manufacturers in the regions invest in machine tools that offer increased control and precision in order to improve product quality