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Report
United States Machine Tools Market Report and Forecast 2024-2032
Market Report I 2024-03-27 I 95 Pages I EMR Inc.
United States Machine Tools Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States machine tools market reached a value of USD 12.15 billion in 2023. Aided by the rising demand from various sectors, the market is projected to further grow at a CAGR of 4.5% between 2024 and 2032 to reach a value of USD 18.08 billion by 2032.
Machine tools are essential for the production of components in various industries, including automotive, aerospace, defense, and electronics, among others. These tools range from metal cutting machines, such as lathes and milling machines, to metal forming machines, including presses and bending machines. The United States, being a hub for technological innovation and manufacturing excellence, has seen a steady demand for machine tools, driven by the resurgence of manufacturing activities and the adoption of advanced manufacturing practices.
Several factors contribute to the United States machine tools market growth. One primary driver is the increasing investment in manufacturing infrastructure and technological advancements. The push towards automation and the integration of digital technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), into manufacturing processes, known as Industry 4.0, has led to an increased demand for advanced machine tools. These tools enhance efficiency, precision, and flexibility in production processes, thereby improving overall productivity.
The automotive industry, a significant consumer of machine tools, is undergoing a transformative shift towards electric vehicles (EVs), further fuelling the United States machine tools market demand. This shift requires new manufacturing capabilities and the development of components with high precision and quality, driving demand for sophisticated machine tools.
Moreover, the aerospace and defense sectors in the United States continue to demand high-precision tools for the production of critical components, supporting the market's expansion. The need for lightweight and durable materials in aerospace further necessitates advanced machining and fabrication technologies.
The trend towards sustainability and the circular economy is influencing the machine tools market as well. Manufacturers are increasingly adopting sustainable manufacturing practices, including energy-efficient machine tools and the recycling of metal scraps, opening new avenues for the United States machine tools market development.
Looking ahead, the machine tools market is poised for continued growth, driven by technological advancements, the resurgence of manufacturing activities, and the increasing demand from key end-use industries. The adoption of Industry 4.0 practices, coupled with the shift towards sustainable manufacturing, is expected to shape the future trajectory of the market. As manufacturers seek to enhance productivity, reduce operational costs, and minimise environmental impact, the demand for advanced, energy-efficient machine tools will continue to rise.
Market Segmentation
The market can be divided based on tool type, technology type, end use, and region.
Market Breakup by Tool Type
- Milling Machines
- Drilling Machines
- Turning Machines
- Grinding Machines
- Electrical Discharge Machines
- Others
Market Breakup by Technology Type
- Computer Numerical Control (CNC)
- Conventional
Market Breakup by End Use
- Aerospace and Defence
- Automotive
- Metal
- Electrical and Electronics
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States machine tools market. Some of the major players explored in the report by Expert Market Research are as follows:
- TRUMPF SE + Co. KG
- Georg Fischer Ltd.
- Haas Automation, Inc.
- Komatsu NTC Ltd.
- Amada Co., Ltd.
- Pacific Press Holdings Company (MULTIPRESS Inc.)
- Bystronic Group
- Mitusa Inc.
- Fenn
- Mate Precision Technologies
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Machine Tools Market Overview
8.1 Key Industry Highlights
8.2 North America Machine Tools Historical Market (2018-2023)
8.3 North America Machine Tools Market Forecast (2024-2032)
8.4 North America Machine Tools Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Machine Tools Market Overview
9.1 Key Industry Highlights
9.2 United States Machine Tools Historical Market (2018-2023)
9.3 United States Machine Tools Market Forecast (2024-2032)
10 United States Machine Tools Market by Tool Type
10.1 Milling Machines
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Drilling Machines
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Turning Machines
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Grinding Machines
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Electrical Discharge Machines
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 United States Machine Tools Market by Technology Type
11.1 Computer Numerical Control (CNC)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Conventional
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Machine Tools Market by End Use
12.1 Aerospace and Defence
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Automotive
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Metal
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Electrical and Electronics
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 United States Machine Tools Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TRUMPF SE + Co. KG
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Georg Fischer Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Haas Automation, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Komatsu NTC Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Amada Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pacific Press Holdings Company (MULTIPRESS Inc.)
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Bystronic Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mitusa Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Fenn
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Mate Precision Technologies
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Machine Tools Market: Key Industry Highlights, 2018 and 2032
2. United States Machine Tools Market: Key Industry Highlights, 2018 and 2032
3. United States Machine Tools Historical Market: Breakup by Tool Type (USD Billion), 2018-2023
4. United States Machine Tools Market Forecast: Breakup by Tool Type (USD Billion), 2024-2032
5. United States Machine Tools Historical Market: Breakup by Technology Type (USD Billion), 2018-2023
6. United States Machine Tools Market Forecast: Breakup by Technology Type (USD Billion), 2024-2032
7. United States Machine Tools Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. United States Machine Tools Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. United States Machine Tools Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United States Machine Tools Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United States Machine Tools Market Structure
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