Precision Engineering Machines Market Research, Size, Growth And Trends To 2028

Precision Engineering Machines Industry Overview

The global precision engineering machines market size is estimated to reach USD 19.27 billion by 2028, expanding at a CAGR of 6.6% from 2021 to 2028, according to a new study by Grand View Research, Inc. The increased demand for advanced machining solutions, as well as the focus on reducing downtime to promote production efficiency, improve accuracy, and optimize machining processes, are driving sales growth. Moreover, Industry 4.0 promotes the integration of manufacturing facilities with other processes to create holistic and adaptive automation system architectures using precision engineering machines for production and manufacturing. Hence, the market comprises significant opportunities with the advent of industry 4.0 in the forthcoming years.


Precision Engineering Machines Market Report Highlights

  • The automotive segment is expected to register the highest CAGR of over 7% during the forecast period. The growth is attributed to the rising demand for autonomous vehicles, new mobility solutions, advancements in robotics, design, manufacturing processes, and the advent of EVs in countries, which is expected to drive the demand for precision engineering machines in the automotive industry
  • In the non-automotive segment, power and energy is anticipated to record the highest CAGR from 2021 to 2028. The expansion of oil and gas industries and the use of modern machinery for precise manufacturing such as lathes and spinning machines are anticipated to drive the market growth
  • The growing trend of incorporating advanced technology into products to boost machinery efficiency at drilling sites with greater depths and pressure requirements is projected to benefit the European and MEA markets
  • APAC is anticipated to emerge as the fastest-growing regional market over the forecast period. The market in the Asia Pacific area is being driven by the expanding trend of industrial automation, as well as the rising demand for accurate manufacturing, due to its extensive applications in the automotive, aerospace, and electronics sectors across the region


Precision Engineering Machines Market Segmentation

Grand View Research has segmented the global precision engineering machines market based on end-use and region:

Based on the End-use Insights, the market is segmented into Automotive and Non-Automotive

  • The non-automotive segment held the largest market share of over 78% in 2020. This segment includes aerospace and defense, engineering and capital goods, power and energy, and others. The aerospace industry has observed increased demand for advanced materials such as nickel alloys and titanium alloys in recent years, leading to the increased use of machine tools and cutting tools. In Germany, the demand can be attributed to the fact that precision engineering machines produce components with higher accuracy and better finish in non-automotive industries. In the capital goods industry, heavy equipment and shipbuilding are expected to experience high demand for precision engineering machinery due to the growing production of heavy equipment in APAC countries such as Japan and China.
  • Investment in industrial and heavy machinery is expected to grow over the forecast period, thereby accelerating the demand for precision engineering machines in Israel, Saudi Arabia, and other Middle Eastern countries. Furthermore, the rising trend of integrating advanced technologies in products to increase the productivity of machinery at drilling locations with newer depths and pressure requirements is expected to have a positive impact on the European and MEA markets.


Precision Engineering Machines Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


Key Companies Profile & Market Share Insights

Strategic mergers and acquisitions and partnerships are estimated to be the most effective ways for market players to gain quick access into emerging markets. In February 2020, DMG Mori Co., Ltd. acquired GLOphotonics SAS, a manufacturer of femtosecond laser delivery technology. This acquisition is expected to expand the application of femtosecond to create additional surface quality and process large components.

Some of the prominent players operating in the global precision engineering machines market are:

  • Amada Machine Tools Co., Ltd.
  • Amera-Seiki
  • Dalian Machine Tool Group (DMTG) Corporation
  • DMG Mori Co., Ltd.
  • FANUC Corporation
  • Haas Automation, Inc.
  • Hurco Companies, Inc.
  • Okuma Corporation
  • Shenyang Machine Tool Co., Ltd.
  • Yamazaki Mazak Corporation


Order a free sample PDF of the Precision Engineering Machines Market Intelligence Study, published by Grand View Research.



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