Machine Tools Market Size To Reach $183.5 Billion By 2033

April 2026 | Report Format: Electronic (PDF)

Machine Tools Market Growth & Trends

The global machine tools market size is expected to reach USD 183.5 billion by 2033, registering a CAGR of 5.8% from 2026 to 2033, according to a new report by Grand View Research, Inc. The increased need for higher efficiency and precision in complex machining tools, as well as lower operating costs in industries, such as aerospace, automotive, and defense, have led to an increased usage of machine tools.

The machining time is more expensive than the setup fees, material expenses, and fees for custom finishing a job or workpiece. Owing to all these advantages, manufacturers are gradually shifting toward the automation of machines to reduce time by rolling out connectivity networks and deploying the latest software. Such technological developments are anticipated to boost the sales of machine tools in the forecast period.

The machine tools products are increasingly getting complex in line with the shifting customer preferences toward higher-quality products. Hence, manufacturers are also gearing up to develop complex products and are accordingly automating their CNC machining processes to enhance product quality while reducing operating costs. For instance, in July 2020, SKODA AUTO Germany GmbH launched automated supplying and ordering of parts for CNC processing lines at its plant in Vrchlabi, Czech Republic as part of the efforts to increase the productivity of the plant.

Machine tool manufacturers are trying aggressively to develop energy-efficient tools to cater to the manufacturers’ needs to reduce operating costs while eliminating errors in manufacturing, leveraging IoT technology and predictive analytics capabilities. For instance, automotive companies are increasingly opting for CNC machining in line with the growing demand for spare parts with higher precision.

Industry 4.0 is particularly encouraging digital transformation across the entire automotive industry, spanning automotive OEMs, dealers, and suppliers, among other industry stakeholders, which bodes well for the growing demand for CNC machine tools. The motorsport industry is particularly using CNC machine tools to reduce manufacturing time and to ensure that components are manufactured flawlessly. As such, various racing car manufacturers are striking partnerships with CNC machine tool providers to manufacture precision components.

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Machine Tools Market Report Highlights

The metal cutting segment dominated the machine tools market, supported by its widespread application across industries such as automotive, mechanical engineering, metal working, and aerospace.
Computer Numerical Control (CNC) technology dominated the machine tools market and accounted for 85.7% share in 2025, driven by its ability to deliver high precision, automation, and consistent production quality.
The automotive sector dominated the machine tools market in 2025 with 41.9% share, supported by its large-scale production requirements and continuous demand for precision-engineered components.
Asia Pacific dominated the machine tools market with revenue share of 56.2% in 2025 and is also the fastest-growing region at CAGR of 6.7%, driven by strong manufacturing bases in countries such as China, Japan, South Korea, and India.

Machine Tools Market Segmentation

Grand View Research has segmented the global machine tools market on the basis of type, technology, end use, and region:

Machine Tools Type Outlook (Revenue, USD Billion, 2021 - 2033)

Metal Cutting
- Machining Centers
- Turning Machines
- Grinding Machines
- Milling Machines
- Eroding machines
- Others
Metal Forming
- Bending Machines
- Presses
- Punching Machines
- Others