United States Machine Tools Market Insights Forecasts to 2033

• The U.S. Machine Tools Market Size was valued at USD 11.85 Billion in 2023.
• The Market Size is Growing at a CAGR of 3.33% from 2023 to 2033
• The U.S. Machine Tools Market Size is Expected to Reach USD 16.45 Billion by 2033

The U.S. Machine Tools Market Size is Anticipated to Exceed USD 16.45 Billion by 2033, growing at a CAGR of 3.33% from 2023 to 2033.

Market Overview

A machine tool is a device used to handle or work with metal or other hard materials. It can be used to shear, grind, cut, bore, or perform other types of deformations. Machine tools use some kind of tool to perform the shaping or cutting. Every machine tool has a mechanism for guiding the movement of the machine's parts and confining the workpiece. As a result, rather than being totally "offhand" or "freehand," the relative movement between the workpiece and the cutting tool also referred to as the toolpath is at least somewhat governed or regulated by the machine. This metal cutting machine is powered by electricity, and it helps control the necessary relative motion between the cutting tool and the work to alter the work material's size and shape. The importance of machine tools is found in their capacity to create standardized, homogenous parts, which are essential for mass production. The ability of machine tools, ranging from antiquated lathes to cutting-edge CNC machines, has been the driving force behind global industrial progress.

Report Coverage

This research report categorizes the market for the US machine tools market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States machine tools market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.S. machine tools market.

Driving Factors

Before the industrial revolution, machine tools were in use. Currently, they are usually powered by an electrical source, a hydraulic source, or a line shaft. They have made it possible to produce interchangeable parts affordably and to meet even the most exacting requirements for precision and geometric tolerances. In addition to giving immediate access to the newest manufacturing technology, this guarantees that a shortage of machine tools will not impede the production of weapons and other military hardware. One of the main drivers driving the market expansion is the growing demand for fabricated metals in the United States. Furthermore, a growing need for self-driving trucks, driverless cars, and electric vehicles (EVs) is driving up machine tool usage in the nation.

Restraining Factors

Purchasing sophisticated machine tools comes at an expensive cost. This is one of the main things preventing the global machine tool industry from growing. New CNC lathes and routers can run into the thousands of dollars, depending on the model and manufacturer.

Market Segmentation

The US machine tools market share is classified into product type and automation type.

• The milling segment is expected to hold a significant market share through the forecast period.

The United States machine tools market is segmented by product type into milling machines, turning machines, grinding machines, and EDM. Among these, the milling segment is expected to hold a significant market share through the forecast period. Micron-scale tolerance components are critical to the electronics, medical, and aerospace industries. Such precision is typically beyond the reach of traditional machining techniques, but it is a specialty of milling machines.

• The CNC segment is expected to dominate the US machine tools market during the projected period.

Based on the automation type, the United States machine tools market is divided into CNC and conventional. Among these, the CNC segment is expected to dominate the US machine tools market during the projected period. Customized items are in high demand from consumers, necessitating flexible and agile manufacturing procedures. CNC machines are perfect for satisfying demands for customization since they are simple to program to manufacture several product variations.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States machine tools market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• TRUMPF Inc.
• Multipress Inc.
• Haas Automation Inc.
• Bystronic Inc.
• Amada Co. Ltd
• Koike Aronson Inc.
• Lincoln Electric Holdings Inc.
• Cincinnati Inc
• MC Machinery Systems Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, Lincoln Electric Holdings, Inc. purchased RedViking, a privately owned automation systems integrator headquartered in Plymouth, Michigan, US. RedViking creates and integrates cutting-edge autonomously guided vehicles (AGVs), mobile robots, specialized assembly and dynamic testing systems, and proprietary manufacturing execution system (MES) software.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States Machine Tools Market based on the below-mentioned segments:

United States Machine Tools Market, By Product Type

• Milling Machines
• Turning Machines
• Grinding Machines
• EDM

United States Machine Tools Market, By Automation Type

• CNC
• Conventional