Multi Tasking Machine Tools Market Share

Global Multi-Tasking Machine Tools Market Overview

Global Multi-Tasking Machine Tools Market Size was valued at USD 9,23,753.7 Million in 2023. The Multi-Tasking Machine Tools market is projected to grow from USD 9,42,228.8 Million in 2024 to USD 12,20,286.0 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.3% during the forecast period (2024 - 2032). Increasing infrastructure activities have historically led to periods of economic growth. With the advent of technologies, manufacturers are escalating their production rate and increasing profits are the factor driving the growth of the Global Multi-Tasking Machine Tools Market. 

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

Multi-Tasking Machine Tools Market Trends

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  Increasing demand from the Manufacturing Sector.

  
  

The global manufacturing sector boom has resulted in high demand for multi-tasking machine tools. The construction, automotive, and aerospace sectors have been the key supporters of the multi-tasking machine tools industry. The global industrial output is currently witnessing significant growth due to the economic uprise across major economies.

The wide application of multi-tasking machine tools in the automotive, aerospace, construction, general machinery, and other sectors is phenomenally assisting the market growth. Every sector has been facing extreme competitiveness wherein the players compete in terms of productivity and cost associated with it.

Additionally, there is a huge demand for multi-tasking machine tools from the manufacturing sectors that provides single-setup complete part machining or get the processing done from raw material to finished part. The advanced manufacturing and machining processes use highly advanced techniques to reduce machining downtime and effectively utilize raw materials, reducing raw material wastage. This is anticipated to encourage industrial operations further and maximize profits for end users across the globe during the forecast period.

However, the rise in the industrial hubs coupled with growing FDI (Foreign Direct Investment) in all major manufacturing sectors across the emerging economies is anticipated to drive the Multi-Tasking Machine Tools market revenue.

Multi-Tasking Machine Tools Market Segment Insights

Multi-Tasking Machine Tools Product Types Insights

The global Multi-Tasking Machine Tools segmentation, based on Product type CNC machine, Turret machine, Milling Friction stir welding (FSW) machines, Others. The Turret segment held the majority share in 2021. The turret punch can make holes of various diameters and about as many holes in a metal sheet as needed for fabrication. This machine is an extremely fast and affordable way of making holes in metal sheets. It acts as a solution for a quick, economical way of making holes in metal sheets.

March 2018 Doosan Machine Tools expanded its multitasking tools portfolio by introducing the PUMA SMX ST series..

Sep 2018: Yamazaki Mazak launched a hybrid multitasking machine INTEGREX AG series integrating multitasking machines with gear cutting.

Multi-Tasking Machine Tools Application Insights

The global Multi-Tasking Machine Tools market data has been bifurcated by Application into Automotive, Construction, Aerospace and Other. The automotive segment accounted for the largest market share in 2020. Automotive manufacturers prefer CNC machining, as it provides the highest accuracy. The digital and autonomous nature of the process leaves little room for error. The automotive industry requires such fine tolerances since the malfunction of an engine or other critical components can have major consequences for the end user. Owing to this, multitasking machine tools are an important factor in the automotive industry. Hence rising application into Automotive, Construction, Aerospace and others implants for Multi-Tasking Machine Tools positively impacts the market growth.

Oct 2018: Yamazaki Mazak introduced a hybrid multitasking machine VARIAXIS j-600/5X AM, integrating the world's first blue laser additive manufacturing and machining.

Sep 2019: Yamazaki Mazak launched a new multitasking machine INTEGREX i-H series..

Figure 2: Global Multi-Tasking Machine Tools Market, by Application, 2021 & 2030 (USD Billion)

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

Additionally. The construction industry needs multitasking machines mainly because it offers numerous applications in one tool. These machines can act as a router, jigsaw, drill press, jointer, table saw, and surface planer, all at once. On the other hand, Multitasking machines tools has several significant applications in the aerospace industry. It acts as one of the most important factors in manufacturing parts for aircraft, or related systems is expected to stymie the growth of the Multi-Tasking Machine Tool market throughout the forecast period.

Multi-Tasking Machine Tools Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific Multi-Tasking Machine Tools Industry accounted for USD 539.25 billion in 2021 and is expected to exhibit an 1.28% CAGR during the study period. This is attributed to the growing to rapid construction and manufacturing, primarily in Asia-pacific, China and Japan, as well as an ageing population across the region.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: GLOBAL MULTI-TASKING MACHINE TOOLS MARKET SHARE BY REGION 2021 (%)

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

Europe Multi-Tasking Machine Tools market accounts for the second-largest market share due to the rising demand for the Multi-Tasking Machine Tool in the developed countries such as Germany, France, and the U.K. is witnessing high growth rates. Europe is projected to observe significant amount of growth in the Multi-Tasking Machine Tool due to the to the increase in adoption of advanced technology and increase in import and export activities in the region. Moreover, Europe is the hub of major automobile manufacturers such as Audi, BMW, and Volvo, fueling the market growth. Further, the Germany Multi-Tasking Machine Tools market held the largest market share, and the UK Multi-Tasking Machine Tools market was the fastest growing market in the European region.

The North America Multi-Tasking Machine Tools Market is expected to grow at a CAGR of 5.88% from 2022 to 2030. The automotive industry expects a huge investment by several major market players due to the rising demand for passenger cars globally. This is expected to drive the multitasking machine tools market in the region. Moreover, the growing investments in the aerospace industries are also expected to support the market growth in North America throughout the forecast period.

For instance, US Multi-Tasking Machine Tools market expected to grow very rapidly. The US is a major contributor to the regional multitasking machine tools market, owing to the increase in the development of commercial and residential infrastructures in the country, which has led to increased demand for multitasking machine tools. Additionally, growing investments in restructuring the wide-body aircraft in the US are expected to support the market growth. Hence, US is anticipated to register the highest growth rate over the forecast period from 2022–2030.

Multi-Tasking Machine Tools Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Multi-Tasking Machine Tools market grow even more. The growth of the market can be attributed to wide range of end-use applications, growth in demand from manufacturing sector, and increasing investments in aerospace & defense in developing countries. Market players are expected to witness profitable growth opportunities in the global market due to rising demand for multi-tasking machine tools in industrial activities.

One of the primary business strategies adopted by manufacturers in the global Multi-Tasking Machine Tools industry to benefit clients and expand the Multi-Tasking Machine Tools market sector is to manufacture locally to reduce operating costs. In recent years, Multi-Tasking Machine Tools have provided some of the most significant benefits.

Many market participants in the Multi-Tasking Machine Tools market operating in the global multi-tasking machine tools market include Yamazaki Mazak Corporation (Japan), Nakamura-Tome CO., LTD (Japan), Tongtai Machine & Tool Co., Ltd (China), Okuma Corporation (Japan), Tsugami Corporation (Japan), Trevisan Machine Tool (US), Doosan Corporation (South Korea), Accuway Machinery Corporation (China), Breton S.p.A. (Italy), DMG Mori (Japan), and Hwacheon Machinery Co. Ltd (South Korea). The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach along with diverse product portfolios. Companies such as Yamazaki Mazak Corporation (Japan), Nakamura-Tome CO., LTD (Japan), Tongtai Machine & Tool Co., Ltd (China), Okuma Corporation (Japan), and Tsugami Corporation (Japan) dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.

Key Companies in the Multi-Tasking Machine Tools market includes.

• Yamazaki Mazak Corporation (Japan),


• Nakamura-Tome CO., LTD (Japan),


• Tongtai Machine & Tool Co., Ltd (China),


• Okuma Corporation (Japan),


• Tsugami Corporation (Japan),


• Trevisan Machine Tool (US),


• Doosan Corporation (South Korea),


• Accuway Machinery Corporation (China),


• Breton S.p.A. (Italy),


• DMG Mori (Japan),


• Hwacheon Machinery Co. Ltd (South Korea). among others

Multi-Tasking Machine Tools Industry Developments

December 2021 Nakamura-Tome Co., Ltd equipped its multitasking machines with the oscillating cutting function as an optional feature. By incorporating this function, it is possible to prevent chips from being tangled around the tool and workpiece. This will reduce the number of scrap parts and reduce machine downtime.

May 2020 Yamazaki Mazak opened a technology center in Northern California. This will help the company expand its technological capabilities.

Feb 2020 Yamazaki Mazak opened a technology center in Florida. This will help the company expand its capabilities.

Multi-Tasking Machine Tools Market Segmentation

Multi-Tasking Machine Tools Product Type Outlook

• CNC Machine


• Turret Machine


• Milling Machine


• Friction stip welding (FSW) Machines


• Others

Multi-Tasking Machine Tools Application type Outlook

• Automotive


• Construction


• Aerospace


• Other

Multi-Tasking Machine Tools Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • South America