Machine Tools Market Report 2026

The machine tools market size has grown strongly in recent years. It will grow from $99.87 billion in 2025 to $105.69 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to industrial manufacturing expansion, automotive production growth, adoption of conventional machining, demand for metal components, availability of skilled machinists.

The machine tools market size is expected to see strong growth in the next few years. It will grow to $133.15 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to electrification-driven component demand, smart factory investments, adoption of advanced cnc systems, aerospace manufacturing growth, precision engineering requirements. Major trends in the forecast period include rising adoption of cnc machine tools, demand for high-precision machining, integration of automation in workshops, growth of multi-axis machines, expansion of custom fabrication.

The expanding manufacturing industry is expected to drive the growth of the machine tools market in the coming years. Machine tools are power-driven devices used to process workpieces and serve as essential equipment in the production of mechanical parts. These machines perform tasks such as forming, cutting, and joining materials. Consequently, growth in the manufacturing sector is expected to increase demand for machine tools. For example, in March 2025, the United Nations Industrial Development Organization, an Austria-based UN specialized agency, reported that global manufacturing output in Australia grew by 1 percent in the fourth quarter of 2024 on a quarter-over-quarter basis, following gains of over 0.5 percent in the previous two quarters. Therefore, the growth of the manufacturing industry is fueling the machine tools market.

Major players in the machine tools market are directing their efforts toward developing cutting-edge solutions, including machine tool probes, to bolster their profitability within the market. A machine tool probe refers to a sensor affixed to a CNC machine tool, utilized for gauging the position, dimensions, and characteristics of a workpiece or cutting tool. For instance, in May 2023, Renishaw PLC, a UK-based engineering and scientific technology company, introduced the RMP24-micro, a wireless probe designed for machine tools. With dimensions of 24 millimeters in diameter and 31.4 millimeters in length, this probe caters to applications where space is limited. The RMP24-micro's high accuracy and repeatability play a crucial role in ensuring the precise manufacture of parts according to specifications, mitigating the risks of scrap and rework. Its automation of tasks previously performed manually contributes significantly to reducing setup times and cycle durations.

In April 2024, Accurl USA LLC, a company based in the United States, entered into a partnership with Complete Machine Tools. Through this collaboration, Accurl intends to broaden its portfolio by leveraging Complete Machine Tools Pty Ltd's expertise in the manufacturing of machine tools. Complete Machine Tools is an Australian company specializing in the production of machine tools.

Major companies operating in the machine tools market are Amada Co. Ltd, DMG Mori Co. Ltd, Yamazaki Mazak Corporation, Haas Automation Inc, Okuma Corporation, GF Machining Solutions, Makino Milling Machine Co. Ltd, JTEKT Corporation, TRUMPF GmbH And Co. KG, Hyundai WIA Corporation, Doosan Machine Tools Co. Ltd, Hurco Companies Inc, Gleason Corporation, EMAG GmbH And Co. KG, Starrag Group Holding AG, MAG IAS GmbH, Hardinge Inc, Dalian Machine Tool Group Corporation, Tsugami Corporation, Haas Schleifmaschinen GmbH, INDEX-Werke GmbH And Co. KG, Kitamura Machinery Co. Ltd, Chiron Group.

Asia-Pacific was the largest region in the machine tools market share in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine tools market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the machine tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The machine tools market consists of sales of lathes and boring mills, shapers and planers, drilling machines, power saws, and presses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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