United States Machine Tools Market Report and Forecast 2024-2032

United States Machine Tools Market Outlook

The United States machine tools market size reached approximately USD 11.68 billion in 2023. The market is further projected to grow at a CAGR of 4.1% between 2024 and 2032, reaching a value of USD 16.95 billion by 2032.

Key Trends in the Market

Machine tools refer to tools and equipment that help in grinding, shaping, drilling, and cutting hard materials, including metals. The tools allow the provision of maximum product uniformity as they are operated using numerical control. They enhance the productivity of the operations and aid in minimizing the requirement for human resources.

• The increasing initiatives by various businesses to reduce costs of operation is aiding the United States machine tools market growth. The relatively lower production time and costs of operations of machine tools allows businesses to reduce production costs and increase profit margins.

• The increasing adoption of novel technologies including machine learning and robotics due to growing demand from precision engineering is supporting the market expansion. The advancement in software and hardware components of computer numeric control systems is further supporting the market growth.

• The rising requirement for rapid and cost-efficient production processes is boosting the adoption of additive manufacturing. Additionally, the growing popularity of heterogenous material manufacturing capabilities is bolstering the requirement for machine tools across various sectors in the United States.

United States Machine Tools Market Segmentation

On the basis of tool type, the market is divided into milling machines, drilling machines, turning machines, grinding machines, and electrical discharge machines, among others. Based on technology type, the market is bifurcated into computer numerical control (CNC) and conventional.

On the basis of end use, the market is classified into aerospace and defence, automotive, metal, and electrical and electronics, among others. Based on region, the market is segmented into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States machine tools market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Technology Type

The computer numerical control (CNC) technology is anticipated to account for a significant United States machine tools market share over the forecast period. This growth can be attributed to the rising demand for process automation across different sectors. The growing requirement for short lead time and improved precision is bolstering the requirement for automation in production processes. Therefore, the key players of the market are heavily investing towards the development of CNC systems that cater to different industrial requirements.

Market Share by End Use

Automotive sector is witnessing significant growth due to growing requirement for personal and public vehicles because of rising population and increasing disposable incomes. The manufacture of different automotive components requires the usage of different types of machines including milling, turning, and drilling, among others. Milling machines are used for manufacturing different automotive components including gearbox cases, engine rods, and piston rods, among others, boosting the United States machine tools market demand.

Competitive Landscape

TRUMPF SE + Co. KG, headquartered in Ditzingen, Germany, is one of the leading industrial machinery manufacturing companies that was founded in 1923. The company specialises in laser technology, machine tools, additive manufacturing, and laser welding, among others.

Georg Fischer Ltd. was founded in 1802 and is headquartered in Schaffhausen, Switzerland. The industrial machinery manufacturing company specialises in machine tools, robots, electric vehicles, water treatment, and automation, among others.

Haas Automation, Inc., headquartered in California, United States, is involved with the manufacturing and marketing of specialised accessory tooling and machine tools including rotary tables, and computer numerically controlled (CNC) equipment, among others.

Other United States machine tools market key players include Komatsu NTC Ltd., Amada Co., Ltd., Pacific Press Holdings Company (MULTIPRESS Inc.), Bystronic Group, Mitusa Inc., Fenn, and Mate Precision Technologies, among others.

Key Highlights of the Report

United States Machine Tools Market Report Snapshots

United States Machine Tools Market Size

United States Machine Tools Market Trends

United States Machine Tools Companies