Metalworking Equipment Market Research Report By Machine Type (Machine Tools, Metalworking Machinery), By Material Type (Ferrous, Non-Ferrous, Advanced Materials), By Application (Automotive, Aerospace Defense, Electronics, Construction, Energy), By Size (Small, Medium, Large), By Automation Level (Manual, Semi-Automated, Fully Automated) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Metalworking Equipment Market Overview

Metalworking Equipment Market Size was estimated at 291.27 (USD Billion) in 2022. The Metalworking Equipment Industry is expected to grow from 298.73 (USD Billion) in 2023 to 375.0 (USD Billion) by 2032. The Metalworking Equipment Market CAGR (growth rate) is expected to be around 2.56% during the forecast period (2024 - 2032).

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Metalworking Equipment Market Trends Highlighted

The metalworking equipment market is influenced by several key drivers, including the increasing demand for advanced manufacturing technologies, rising automotive and aerospace industries, and growing infrastructure development. Industrial automation and digitization are significant trends shaping the market as manufacturers seek to enhance productivity and efficiency. The adoption of Industry 4.0 technologies, such as artificial intelligence, machine learning, and IoT, is creating opportunities for data-driven decision-making and real-time process optimization. Additionally, the integration of additive manufacturing and robotics in metalworking processes is expanding the capabilities and applications of these technologies. The market also benefits from ongoing advancements in materials science, enabling the development of lightweight, durable, and high-performance materials for various industrial applications.

Metalworking Equipment Market Drivers

Increasing Demand for Automation

The increasing demand for automation in manufacturing industries is a major driver of the growth of the Metalworking Equipment Market Industry. As manufacturers look to improve efficiency and reduce costs, they are investing in automated metalworking equipment. This equipment can perform a variety of tasks, from simple cutting and welding to complex machining operations. The use of automated metalworking equipment can help manufacturers to improve productivity, reduce lead times, and improve product quality. In addition to the increasing demand for automation, the growth of the Metalworking Equipment Market Industry is also being driven by the increasing demand for metalworking equipment in emerging economies.As these economies develop, they are investing in infrastructure and manufacturing, which is creating a demand for metalworking equipment. The growth of the metalworking equipment market in emerging economies is expected to continue in the coming years as these economies continue to develop. Finally, the growth of the Metalworking Equipment Market Industry is also being driven by the development of new technologies. These new technologies are making metalworking equipment more efficient, accurate, and versatile.For example, the development of new cutting tools and materials is making it possible to machine harder and more complex materials. The development of new control systems is also making it possible to automate more complex machining operations. These new technologies are making metalworking equipment more attractive to manufacturers, which is driving the growth of the market.

Growing Adoption of Advanced Manufacturing Technologies

The growing adoption of advanced manufacturing technologies is another major driver of the growth of the Metalworking Equipment Market Industry. Advanced manufacturing technologies, such as additive manufacturing and 3D printing, are enabling manufacturers to produce complex and customized parts more quickly and cost-effectively. This is making metalworking equipment more attractive to manufacturers, as it allows them to produce innovative and high-quality products. The growing adoption of advanced manufacturing technologies is also being driven by the increasing demand for customization.Consumers are increasingly demanding products that are tailored to their specific needs. This is creating a demand for metalworking equipment that can produce customized parts quickly and cost-effectively. The growth of the Metalworking Equipment Market Industry is expected to continue in the coming years as the adoption of advanced manufacturing technologies continues to grow.

Increasing Investment in Infrastructure

The increasing investment in infrastructure is another major driver of the growth of the Metalworking Equipment Market Industry. As governments around the world invest in infrastructure projects, such as roads, bridges, and buildings, there is a growing demand for metalworking equipment. This equipment is used to fabricate and assemble the metal components used in these projects. The growth of the Metalworking Equipment Market Industry is expected to continue in the coming years as governments continue to invest in infrastructure.This investment is being driven by the need to improve transportation, energy, and water infrastructure. The growth of the metalworking equipment market is also being driven by the increasing demand for metalworking equipment in emerging economies.

Metalworking Equipment Market Segment Insights

Metalworking Equipment Market Machine Type Insights

The Metalworking Equipment Market is segmented by Machine Type into Machine Tools and Metalworking Machinery. Machine Tools segment is expected to grow at a CAGR of 3.2% during the forecast period, reaching a market size of USD 205.0 billion by 2027. This growth is attributed to the increasing demand for automation in the manufacturing industry, as well as the growing adoption of advanced technologies such as CNC (Computer Numerical Control) and robotics. The Metalworking Machinery segment is expected to grow at a CAGR of 2.8% during the forecast period, reaching a market size of USD 170.0 billion by 2027.This growth is driven by the increasing demand for metalworking machinery in the automotive, aerospace, and construction industries. Key players in the Metalworking Equipment Market include DMG MORI, FANUC, Mazak, Okuma, and Sandvik. These companies are investing heavily in research and development to develop new and innovative products and solutions. The Metalworking Equipment Market is expected to grow at a CAGR of 3.0% during the forecast period, reaching a market size of USD 375.0 billion by 2032. This growth is attributed to the increasing demand for metalworking equipment in various industries, such as automotive, aerospace, and construction.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Metalworking Equipment Market Material Type Insights

The Material Type segment of the Metalworking Equipment Market is classified into Ferrous, Non-Ferrous, and Advanced Materials. Among these, the Ferrous segment held the largest market share in 2023, accounting for nearly 65.0% of the Metalworking Equipment Market revenue. It is primarily driven by the increasing demand for ferrous metals in the automotive, construction, and manufacturing industries. The Non-Ferrous segment is projected to grow at a CAGR of 3.5% during the forecast period, owing to the rising demand for non-ferrous metals in the aerospace, marine, and electronics industries.Advanced Materials, such as composites and ceramics, are gaining traction due to their superior properties and lightweight characteristics and are expected to contribute significantly to the market growth in the coming years.

Metalworking Equipment Market Application Insights

The Metalworking Equipment Market segmentation by Application includes Automotive, Aerospace Defense, Electronics, Construction, and Energy. In 2023, the Automotive segment held the largest market share due to the increasing demand for vehicles and the need for efficient and precise metalworking equipment in the automotive industry. The Aerospace Defense segment is expected to witness significant growth over the forecast period owing to the rising demand for lightweight and durable materials in the aerospace and defense industries. The Electronics segment is projected to grow steadily, driven by the increasing adoption of electronics in various industries.The Construction segment is expected to contribute a substantial share to the market due to the growing construction activities worldwide. The Energy segment is anticipated to experience moderate growth, fueled by the increasing demand for energy-efficient metalworking equipment.

Metalworking Equipment Market Size Insights

The Metalworking Equipment Market segmentation by size comprises small, medium, and large equipment. Small equipment is suitable for small-scale workshops, offers limited features, and is priced competitively. Medium equipment is designed for mid-sized manufacturers, provides more advanced capabilities, and comes at a higher cost than small equipment. Large equipment caters to large-scale industries, offers comprehensive features, and commands a premium price. In 2023, the medium segment held the largest share of the Metalworking Equipment Market revenue, accounting for around 45%.The growth of this segment can be attributed to the increasing demand for automated and efficient equipment by mid-sized manufacturers. The small segment is expected to witness a steady growth rate during the forecast period, owing to the rising popularity of small-scale manufacturing and the affordability of small equipment. The large segment is anticipated to grow at a moderate pace, driven by the need for advanced and high-capacity equipment in large-scale industries.

Metalworking Equipment Market Automation Level Insights

The Metalworking Equipment Market is segmented by Automation Level into Manual, Semi-Automated, and Fully Automated. Among these segments, Fully Automated is expected to hold the largest market share in 2023, owing to its high efficiency and productivity rates. The growing adoption of automation in manufacturing industries to reduce labor costs and improve production efficiency is driving the growth of the Fully Automated segment. The Semi-Automated segment is also expected to witness significant growth, as it offers a balance between automation and manual operation, providing flexibility and cost-effectiveness.The Manual segment is expected to have steady growth, as it remains a viable option for small-scale operations and niche applications.

Metalworking Equipment Market Regional Insights

The growth of the market can be attributed to the increasing demand for metalworking equipment from various industries, such as automotive, aerospace, and construction. Regionally, North America is expected to dominate the Metalworking Equipment Market, accounting for a significant share of the market in 2023. The growth of the market in this region can be attributed to the presence of a large number of automotive and aerospace manufacturers. Europe is expected to be the second-largest market, followed by APAC. The growth of the market in APAC is expected to be driven by the increasing demand for metalworking equipment from China and India.South America and MEA are expected to witness steady growth in the coming years.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Metalworking Equipment Market Key Players And Competitive Insights

Major players in the Metalworking Equipment Market industry are constantly innovating and developing new technologies to meet the changing needs of customers. Leading Metalworking Equipment Market players are investing heavily in research and development to stay ahead of the competition. The Metalworking Equipment Market industry is highly competitive, with a number of major players vying for market share. Some of the leading players in the Metalworking Equipment Market include DMG MORI, Sandvik, and FANUC. These companies offer a wide range of metalworking equipment, including CNC machines, lathes, milling machines, and grinders. The Metalworking Equipment Market is expected to grow significantly in the coming years, driven by the increasing demand for metalworking equipment from various industries, such as automotive, aerospace, and construction.DMG MORI is a leading manufacturer of metalworking equipment. The company offers a wide range of CNC machines, including turning centers, milling machines, and grinders. DMG MORI is known for its high-quality machines and innovative technology. The company has a strong presence, with operations in over 70 countries. Sandvik is a leading manufacturer of metalworking tools and equipment. The company offers a wide range of products, including cutting tools, abrasives, and tooling systems. Sandvik is known for its high-quality products and innovative technology. The company has a strong presence, with operations in over 150 countries.FANUC is a leading manufacturer of CNC controls and industrial robots. The company offers a wide range of products, including CNC controls, servo motors, and industrial robots. FANUC is known for its high-quality products and innovative technology. The company has a strong presence, with operations in over 100 countries.

Key Companies in the Metalworking Equipment Market Include

• Makino Milling Machine Co., Ltd.


• Mazak Corporation


• GF Machining Solutions SA


• Trumpf GmbH + Co. KG


• Haas Automation, Inc.


• Cincinnati Incorporated


• Hurco Companies, Inc.


• Mitsubishi Heavy Industries


• NakamuraTome Precision Industry Co., Ltd.


• Yamazaki Mazak Corporation


• Okuma Corporation


• Chiron Group SE


• DMG Mori Seiki AG


• Doosan Machine Tools

Metalworking Equipment Market Industry Developments

The metalworking equipment market is projected to grow from USD 298.73 billion in 2023 to USD 375.0 billion by 2032, at a CAGR of 2.56% during the forecast period. The growth of the market is attributed to factors such as increasing demand for metalworking equipment from various end-use industries, technological advancements in metalworking processes, and rising investment in infrastructure development.

Recent news developments in the market include the launch of new products and technologies by key players. For instance, in January 2023, DMG MORI, a leading manufacturer of metalworking equipment, introduced a new laser-cutting machine that offers high precision and speed. Such developments are expected to drive the growth of the market in the coming years.