Machining Market (By Type: Lathe Machines, Laser Machines, Milling Machines, Grinding Machines, Winding Machines, Welding Machines, Others; By End-Use: Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global machining market size was valued at USD 354.92 billion in 2022 and it is expected to be worth around USD 666.23 billion by 2032, growing at a CAGR of 6.5% during the forecast period from 2023 to 2032.

Machining Market Size 2023 To 2032

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Key Takeaways

  • By region, the Asia Pacific region leads the market.
  • By type, the segment for CNC lathe machines will likely grow substantially.
  • By end-use, the industrial sector leads most of the machining market and will have the most significant growth over the following years.

Machining Market Overview

The machining market refers to the industry that involves the manufacturing of various components and parts through the use of machine tools. Machining is a process that involves removing material from a workpiece to create the desired shape and size. It is commonly used in industries such as automotive, aerospace, electronics, and general manufacturing.

Machining is utilized to produce multiple products made of metal, it may also be used to process materials, including plastic, wood, ceramic, and composites. A specialist in machining is known as a machinist. "machine shop" describes a location, building, or establishment where machining is done. Modern machining is primarily done using computer numerical control, which employs computers to control the movement and usage of mills, lathes, and other cutting tools. As the CNC machine doesn't require a human operator to run it, efficiency improves, and labor costs for the machine are reduced.

Growth Factors

The global machining market is accelerated by factors such as industrial expansion, rising demand for precise components, improving economies and technological advancements. The growing oil and gas sector needs will majorly propel the metal machining market's expansion. The requirement for oil and gas increased due to the quick industrialization and urbanization of developing nations like China and India and rising energy consumption. Major oil and gas firms are emphasizing expanding their exploration and production (E&P) activities to meet the growing energy demand. In the oil and gas business, metal machining is frequently utilized to construct pipelines, oil rigs, and other infrastructure. Additionally, it is used to set up compression stations and inspection gauges, which keep an eye on flow rate and pressure to guarantee that materials are transported without incident. The need for metal machining operations will increase along with the growth of E&P activities.

The automotive industry category was the primary source of market growth for metal machining. Given the extensive use of metal parts in the automobile industry, it is one of the most significant end-user segments of the worldwide metal machining market. The fastest-growing market for machining is in the Asia Pacific region, which will provide market vendors with several chances for expansion over the estimated time frame.

Machining Market Scope

Report Coverage Details
Market Size in 2023 USD 377.99 Billion
Market Size by 2032 USD 666.23 Billion
Growth Rate from 2023 to 2032 CAGR of 6.5%
Largest Market Asia Pacific
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered By Type and By End-Use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Machining Market Dynamics


Rising penetration of automation and integration

The use of automation and integration is another trend in the machining market. CNC machining is typically one stage of a multi-step, multi-machine, multi-operation process in manufacturing facilities. Many businesses are now integrating and connecting their CNC machining operations with other systems to speed up this procedure and increase efficiency.

The rise of Industry 4.0 technologies, like the Internet of Things (IoT) and big data analytics, is a wonderful illustration of the future of CNC machining. These technologies enable real-time communication between CNC machines and other systems, allowing them to share information and plan actions. This will assist in increasing the production process's effectiveness and speed while lowering the likelihood of mistakes and failures. For instance, a CNC machine can use IoT technology to alert a maintenance worker when a tool has to be replaced or when it has to be serviced. This might decrease downtime and raise the general dependability of the machining operation.


Size Limitations

One of the benefits of hand production is the machinist's ability to manipulate a large part. The dimensions of the machined item may be restricted for some CNC machining tasks. The most significant amount a shop can manufacture depends on the enclosure's size and the tool's travel distance. The accuracy of the tools used to work on the part may be impacted by its size. The likelihood of distortion rises because the material is under more stress. The machine could need extra setup or operator training to ensure the machining tools are in the right starting positions in relation to the design and part size before the manufacturing process is finished. Extra-large or heavy pieces might not work well with CNC machining, depending on what needs to be made.


The use of alternative materials

Aluminum, steel, and brass have all traditionally been the metals on which machining has been utilized. But a significant trend in CNC machining over the past several years has been using alternative materials. This covers the utilization of composites, polymers, and other unusual materials. The rising demand for lightweight, high-strength materials in sectors like aerospace and automotive contributes to this trend. These materials can offer a variety of advantages, such as higher performance, decreased emissions, and improved fuel efficiency. For instance, using carbon fiber-reinforced polymers (CFRPs) in the aerospace sector can aid in lowering aircraft weight, which can enhance fuel economy and lower emissions.

For instance, using carbon fiber-reinforced polymers (CFRPs) in the aerospace sector can aid in lowering aircraft weight, which can enhance fuel economy and lower emissions. Similarly, using advanced composites in the automotive industry can help in lightening the load on vehicles, increase fuel efficiency, and lower pollutants. The growing desire for individualized and customized products contributes to the push toward alternative materials. For instance, the ability to create personalized products on demand due to 3D printing and other additive manufacturing processes has led to many businesses adopting CNC machining to complete and perfect these products. This includes using materials that, when used using typical machining techniques, might be challenging or impossible, such as resins, ceramics, and other unconventional materials.

Type Insights

The segment for CNC lathes is expected to grow at a notable rate during the forecast period. CNC lathes are widely used to clamp the materials and to move them in multiple axes. The technological advancements in the CNC lathes operations are observed to offer a lucrative growth opportunity for the segment during the forecast period. One of the significant technological advancements in the market is the penetration of Computer Numerical Control to command exact design-related instructions.

The CNC laser machine market is also expected to expand significantly. The segment is anticipated to grow over the forecast period due to the rising demand for CNC laser-cutting machines from multiple manufacturing businesses to address the shortage of semiconductors in such industries.

End-Use Insights

The industrial segment holds the largest share of the machining market; the segment is expected to sustain its dominance during the forecast period. Industries such as electronics, packaging, and medicine have enormous demand for automated machines for manufacturing purposes. The massive demand for machines and tools in the industrial sector is to boost the productivity and capacity of manufacturing units by implementing cost-cutting strategies.

On the other hand, the automotive segment is expected to grow at a robust rate during the forecast period. The rising development of electric vehicles, along with the increasing demand for customized parts such as motor pumps and cylinder heads, will promote the growth of the segment.

Regional Insights

The Asia-Pacific region held the largest share of the market share and is expected to continue expanding throughout the projection period. During the anticipated time, sales of CNC machines are expected to treble, reaching 800 thousand units in 2022. Manufacturing outsourcing is becoming increasingly necessary due to the rise in industrial equipment sales, the accessibility of cheap raw materials, and the low cost of operations. As a result, CNC machine sales will increase over the coming years. With the presence of potential manufacturing industries in the countries of Asia Pacific, the demand for machine tools with increased productivity and reduced costs is expected to grow. Moreover, the booming automotive industry in countries such as China, Japan, and India will promote the growth of the market in the upcoming period.

Machining Market Share, By Region, 2022 (%)

The market in Europe will likewise experience significant growth in the upcoming years. Germany, Italy, France, and the nations of Central and Eastern Europe are the countries that are driving the growth. The rising industrialization and rapid adoption of advanced technologies are held as a significant factor for the growth of the market in Europe. Moreover, the rising emphasis on new-generation tools and machines in the region with the presence of potential key players in the industry plays a significant role in the market’s development in Europe.

Recent Developments

  • In January 2023, Teach-T, a teaching device to teach students CNC technology capabilities, was introduced as a prototype by Mitsubishi Electric India's Computerised Numerical Controllers (CNC) division. According to Masaya Takeda, General Manager of Mitsubishi Electric India's CNC Systems, the equipment designed and constructed in India will be released to the market in the upcoming fiscal year. To help customers with their machining needs, Mitsubishi Electric CNC offers an advanced CNC control system.
  • b HireCNC, a website that was launched in February, connects job seekers and employers to streamline the hiring process for CNC-related positions. Candidates can now search for employment possibilities on a single platform, including CNC machinists. The website lists hiring companies and open vacancies. Additionally, employers (machine shops) now have access to a job board whose readership is exclusively focused on CNC machining. At the time of its introduction, the website featured about 8,700 jobs in Canada and the United States that were associated with CNC.
  • In September 2022, the brand-new M800V and M80V series Computerised Numerical Controllers (CNCs) from Mitsubishi Electric India was introduced with cutting-edge technologies. The new M800V and M80V series will add a fresh perspective and develop current CNC technology while facilitating efficient manufacturing for the producers. The new series' cutting-edge control features enable machines to perform a variety of 'things' quickly and accurately. The new M80V and M800V offer multiple benefits such as increased number of control axes and increased fine segment processing capability, improved Screen Design and Multi-touch operation and 3D machining simulation.
  • In August 2022, CNC expert NUM introduced a new CNC platform that raises the bar for machine control performance. The FlexiumPro CNC platform from NUM improves upon the Flexium+ CNC system, which was the company's first version, calculating power, speed, connectivity, and dependability. A Codesys V3 PLC and a CNC unit are included in FlexiumPro's real-time kernel (RTK). Advanced system-on-chip (SoC) technology is used to implement the RTK based on a multi-core ARM CPU. According to this technique, fewer components enhance system reliability and compactness.

Machining Market Companies

  • AMADA Co. Ltd.
  • Bystronic Laser AG
  • Atlas Copco AB
  • DMG MORI Co Ltd
  • Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd.
  • FANUC Corp.
  • IPG Photonics Corp.
  • Jet Edge Inc.
  • Jenoptik AG
  • JTEKT Corp.
  • Mayville Engineering Co. Inc.
  • Messer Cutting Systems Inc
  • Matcor Matsu Group Inc.
  • Okuma Corp.
  • Otter Tail Corp.
  • Shenyang Yiji Machine Tool Sales Co. Ltd.
  • Sandvik AB
  • Yamazaki Mazak Corp.
  • TRUMPF GmbH Co. KG
  • DN Solutions Co. Ltd.

Segment Covered in the Report:

By Type

  • Lathe Machines
  • Laser Machines
  • Milling Machines
  • Grinding Machines
  • Winding Machines
  • Welding Machines
  • Others

By End-Use

  • Automotive
  • Aerospace & Defense
  • Construction Equipment
  • Power & Energy
  • Industrial
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

What is the machining market size?
The global machining market size is expected to reach around USD 666.23 billion by 2032 from USD 354.92 billion in 2022.
What will be the CAGR of global machining market?
The global machining market will register growth rate of 6.5% between 2023 and 2032.
Who are the prominent players operating in the machining market?
The major players operating in the machining market are AMADA Co. Ltd., Bystronic Laser AG, Atlas Copco AB, DMG MORI Co Ltd, Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., FANUC Corp., IPG Photonics Corp., Jet Edge Inc., Jenoptik AG, JTEKT Corp., Mayville Engineering Co. Inc., Messer Cutting Systems Inc, Matcor Matsu Group Inc., Okuma Corp., Otter Tail Corp., Shenyang Yiji Machine Tool Sales Co. Ltd., Sandvik AB, Yamazaki Mazak Corp., TRUMPF GmbH Co. KG, and Others.
Which are the driving factors of the machining market?
The driving factors of the machining market are the rising penetration of automation and integration, precise and accurate productivity offered by machine tools, and the rise of Industry 4.0 technologies.
Which region will lead the global machining market?
Asia Pacific region will lead the global machining market during the forecast period 2023 to 2032.


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