How much is the metalworking machinery market worth, and how is it expected to expand?
The metalworking machinery market size has grown strongly in recent years. It will grow from $280.45 billion in 2024 to $301.64 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to industrialization, global trade and export, automotive industry growth, infrastructure development.
The metalworking machinery market size is expected to see strong growth in the next few years. It will grow to $391.6 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to industry 4.0 integration, sustainability and environmental regulations, customization and small-batch production, reshoring and supply chain diversification, digital twin and simulation. Major trends in the forecast period include additive manufacturing (3D printing), robotics and automation, hybrid machines, smart factories, training and workforce development.
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Which industry factors have accelerated the metalworking machinery market’s expansion?
The metal working machinery manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. For instance, according to the International Monetary Fund (IMF), a US-based financial agency, China’s gross domestic product (GDP) grew from $17.75 trillion in 2021 to $18.1 trillion in 2022. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
What are the primary segments of the metalworking machinery market?
The metalworking machinery market covered in this report is segmented –
1) By Type: Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory
2) By Capacity: Small, Medium, Large
3) By Application: Automotive, Manufacturing, Other Applications
Subsegments:
1) By Special Die And Tool, Die Set, Jig, And Fixture: Dies And Punches, Molds, Jigs And Fixtures
2) By Machine Tool: CNC Machine Tools, Lathe Machines, Milling Machines, Drilling Machines, Grinding Machines
3) By Industrial Mold: Injection Mold, Blow Mold, Compression Mold
4) By Rolling Mill And Other Metalworking Machinery: Hot Rolling Mill, Cold Rolling Mill, Forging Machines
5) By Cutting Tool And Machine Tool Accessory: Cutting Tools, Tool Holders, Tool Cutters, Machine Tool Accessories
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Which firms are leading the metalworking machinery market?
Major companies operating in the metalworking machinery market include Sandvik AB, Berkshire Hathaway Inc., TRUMPF Group, Mitsubishi Heavy Industries Ltd., Amada Co. Ltd., Toyota Tsusho, Colfax Corporation, Fanuc Corp, Okuma Corporation, Taiyo Nippon Sanso Corporation, Caterpillar Inc., Deere & Company, Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Atlas Copco AB, Kennametal Inc., Hardinge Inc., DMG Mori Co. Ltd., Makino Milling Machine Co. Ltd., Yamazaki Mazak Corporation, Doosan Machine Tools Co. Ltd., Fives Group, Gleason Corporation, Haas Automation Inc., Hurco Companies Inc., Mori Seiki Co. Ltd., Nakamura-Tome Precision Industry Co. Ltd., Okamoto Corporation, Schuler AG, Shenyang Machine Tool Co. Ltd.
How will evolving trends contribute to the growth of the metalworking machinery market?
Machinery manufacturers are offering advanced 6-axis CNC milling machines to efficiently fabricate complex components. CNC milling is a specific type of computer numerical controlled (CNC) machining. This involves the use of computers to control machine tools such as lathes, mills, routers, and grinders. The 6-axis CNC machine converts a raw metal bar into the final product by turning from both ends of the fixture. This offers high-quality products while minimizing errors. CNC milling helps in the short-run production of complex parts and the fabrication of unique precision components. Major companies manufacturing 6-axis CNC milling are Yamazaki Mazak, DMG MORI, ERLO, Giben International, Haas Automation, Knuth Machine Tools, and IMSA.
Which regional trends are influencing the metalworking machinery market, and which area dominates the industry?
Asia-Pacific was the largest region in the metalworking machinery market in 2023. Western Europe was the second largest region in the metalworking machinery market. The regions covered in the metal working machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Metalworking Machinery Market Report 2025 Offer?
The metalworking machinery market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The metal working machinery refers to machines that work by electricity for performing different actions on metals including sanding, knurling, drilling, boring, facing, threading as well as turning. Metalwork is defined as a process of working with metals in order to create individual parts, assemblies, and large structures.
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