Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 104.67 Billion | USD 203.80 Billion | 6.89% | 2024 |
FrequentlyAsked Questions
The global machine tool market is expected to grow due to industrial automation, increased manufacturing demand, and innovations in precision engineering and CNC technologies.
According to a study, the global machine tool market size was worth around USD 104.67 Billion in 2024 and is expected to reach USD 203.80 Billion by 2034.
The global machine tool market is expected to grow at a CAGR of 6.89% during the forecast period.
Asia-Pacific is expected to dominate the machine tool market over the forecast period.
Leading players in the global machine tool market include Amada Machine Tools Co. Ltd., CHIRON GROUP SE, DMG MORI. CO., LTD., DN Solutions, Georg Fischer Ltd., HYUNDAI WIA CORP, JTEKT Corporation, Komatsu Ltd, Makino Inc., Okuma Corporation, Hurco Companies Inc. , Dalian Machine Tool Group (DMTG) Corporation, Amera Seiki, Haas Automation Inc, and Datron AG, among others.
The report explores crucial aspects of the machine tool market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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