Overview and Scope
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.
Sizing and Forecast
The metalworking machinery market size has grown strongly in recent years. It will grow from <b>$266.84 billion in 2023 to $286.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. </b> 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 <b>$375.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. </b> 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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Segmentation & Regional Insights
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 Covered: Dies, Stamping and Other Tools, Jigs and fixtures, Metal Cutting Tools, Metal Forming Tools, Metal Molds, Other Material Molds, Wire Drawing and Fabricating Machinery, Coil Winding and Cutting Machinery, Rolling Mill Machines, Other Rolling Mill And Other Metalworking Machinery, Metalworking Knives And Bits, Measuring Attachments, Metalworking Drill Bits, Machine Tool Taps And Dies
The <b>Asia-Pacific</b> was the largest region in the metalworking machinery market in 2023. <b>Western Europe</b> 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.
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Major Driver Impacting Market Growth
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. In addition, the emerging markets and developing economies registered a growth of 3.9% in 2020, which increased to 6.1% 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.
Key Industry Players
Major companies operating in the metalworking machinery market include <b> 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.</b>
The metalworking machinery market report table of contents includes:
1. Executive Summary
2. Metalworking Machinery Market Characteristics
3. Metalworking Machinery Market Trends And Strategies
4. Metalworking Machinery Market analysis
5. Metalworking Machinery Market Size And Growth
6. Metalworking Machinery Segmentation
7. Metalworking Machinery Regional And Country Analysis
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27.Metalworking Machinery Competitive Landscape And Company Profiles
28.Metalworking Machinery Key Mergers And Acquisitions
29.Metalworking Machinery Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Sandvik AB
- Berkshire Hathaway Inc.
- TRUMPF Group
- Mitsubishi Heavy Industries Ltd.
- Amada Co. Ltd.
- Toyota Tsusho
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