Machine Tool For Metal Market

The global market for machine tools for working metal without removing metal is projected to see continued growth over the next eight years, with an anticipated CAGR of +4.5% from 2022 to 2030. Market performance is expected to expand, bringing the market volume to 22M units and market value to $166.8B by the end of 2030. Consumption and production of machine tools have shown resilient expansion, with China, the United States, and India leading in consumption and production volumes. The highest levels of per capita consumption were seen in Germany, Canada, and Japan. The top exporting country is the United States, while the top importing country is Bolivia. The average import price decreased by -16% in 2022, while the average export price decreased by -16.7% in the same year.

Market Forecast

Driven by increasing demand for machine tools for working metal without removing metal worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market volume to 22M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.8% for the period from 2022 to 2030, which is projected to bring the market value to $166.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machine Tools For Working Metal Without Removing Metal

In 2022, global consumption of machine tools for working metal without removing metal reached 16M units, surging by 2.4% against the year before. In general, consumption recorded a strong increase. Global consumption peaked at 16M units in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global machine tool for metal market size expanded to $98.7B in 2022, picking up by 2.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a resilient expansion. Global consumption peaked at $101.2B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2.8M units), the United States (1.7M units) and India (1.1M units), with a combined 36% share of global consumption. Japan, Pakistan, Germany, Brazil, the UK, Mexico, Italy, Turkey, South Korea and Canada lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +19.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest machine tool for metal markets worldwide were China ($15.8B), Japan ($15.2B) and Brazil ($13.6B), with a combined 45% share of the global market. The UK, Mexico, Turkey, South Korea, Pakistan, India, the United States, Canada, Germany and Italy lagged somewhat behind, together comprising a further 30%.

In terms of the main consuming countries, Mexico, with a CAGR of +22.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of machine tool for metal per capita consumption in 2022 were Germany (8.9 units per 1000 persons), Canada (8.3 units per 1000 persons) and Japan (7.5 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +18.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Machine Tools For Working Metal Without Removing Metal

In 2022, global production of machine tools for working metal without removing metal expanded slightly to 16M units, growing by 2.7% on 2021 figures. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 103%. Global production peaked at 16M units in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, machine tool for metal production reached $86.4B in 2022 estimated in export price. In general, production posted a prominent expansion. The growth pace was the most rapid in 2015 when the production volume increased by 100%. Over the period under review, global production attained the maximum level at $87.7B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (2.8M units), the United States (2M units) and India (1.1M units), with a combined 37% share of global production. Japan, Pakistan, Germany, Brazil, the UK, Mexico, Italy, Turkey, South Korea and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by the UK (with a CAGR of +77.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Machine Tools For Working Metal Without Removing Metal

In 2022, global imports of machine tools for working metal without removing metal soared to 410K units, increasing by 22% compared with the year before. In general, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 41% against the previous year. Global imports peaked at 942K units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, machine tool for metal imports expanded slightly to $671M in 2022. Over the period under review, imports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2016 when imports increased by 16% against the previous year. Over the period under review, global imports attained the peak figure at $971M in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

Bolivia (53K units), the Netherlands (52K units), India (44K units), the UK (35K units), Canada (31K units), Peru (31K units) and the United States (30K units) represented roughly 67% of total imports in 2022. The following importers - Singapore (9.2K units), Argentina (8.4K units), Australia (7.5K units) and Spain (6.7K units) - each amounted to a 7.8% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bolivia (with a CAGR of +32.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($103M), India ($52M) and Canada ($16M) constituted the countries with the highest levels of imports in 2022, with a combined 26% share of global imports. Peru, the UK, Spain, Australia, Argentina, the Netherlands, Singapore and Bolivia lagged somewhat behind, together comprising a further 7.4%.

Among the main importing countries, Peru, with a CAGR of +17.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average machine tool for metal import price stood at $1,636 per unit in 2022, shrinking by -16% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machine tool for metal import price decreased by -33.4% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 62% against the previous year. Over the period under review, average import prices attained the maximum at $2,455 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($3,464 per unit), while Bolivia ($3.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+16.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Machine Tools For Working Metal Without Removing Metal

In 2022, shipments abroad of machine tools for working metal without removing metal increased by 35% to 509K units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine tool for metal exports rose markedly to $775M in 2022. Over the period under review, exports, however, saw a pronounced shrinkage. The global exports peaked at $1.1B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

The United States dominates exports structure, recording 299K units, which was approx. 59% of total exports in 2022. India (40K units) took a 7.9% share (based on physical terms) of total exports, which put it in second place, followed by China (6.5%) and the UK (4.7%). The following exporters - Australia (21K units), Belgium (13K units), Germany (12K units) and Tunisia (11K units) - together made up 11% of total exports.

Exports from the United States increased at an average annual rate of +8.2% from 2012 to 2022. At the same time, Tunisia (+99.7%), Belgium (+25.3%), Australia (+17.7%), China (+15.8%) and India (+4.4%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in the world, with a CAGR of +99.7% from 2012-2022. By contrast, Germany (-4.2%) and the UK (-8.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, China, Australia, Tunisia and Belgium increased by +20, +4.3, +2.9, +2.2 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($199M), China ($139M) and the United States ($69M) constituted the countries with the highest levels of exports in 2022, with a combined 52% share of global exports. Belgium, the UK, Australia, India and Tunisia lagged somewhat behind, together accounting for a further 4%.

Among the main exporting countries, Australia, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average machine tool for metal export price stood at $1,524 per unit in 2022, with a decrease of -16.7% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2016 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs at $3,230 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($16,254 per unit), while Tunisia ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform