Global Machine Tools Market Worth $104.7 Billion By 2030 - Exclusive Report By Marketsandmarketstm

(MENAFN- PR Newswire) North America has a robust automotive manufacturing sector, a major consumer of machine tools. The region's demand for high-precision machine tools for manufacturing components such as engine parts, transmission systems, and chassis remains high. Manufacturers in the region are collaborating with prominent players to increase their distribution network. For instance, in February 2022, Hyundai WIA Machine America Corp announced that HART Machine Tool has joined their network of exclusive dealers in North America. The machine tools market in North America is expanding due to the need for cost-effective, efficient, high-quality manufacturing processes. This growth is further catalysed by the escalating demand for factory automation and the continuous technological advancements in manufacturing equipment. North America stands out as a frontrunner in producing cutting-edge aircraft and advanced medical devices, with CNC machines pivotal in elevating precision and productivity within these industries. Countries such as the US, Canada, and Mexico are actively embracing factory automation and the integration of CNC machines to bolster the production of high-quality products with impressive throughput rates.

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Key Market Players:

The major players in Global Machine Tools Companies
include Makino Inc. (Japan), JTEKT Corporation (Japan), Okuma Corporation (Japan), DMG MORI Co., Ltd. (Japan), DN Solutions (South Korea), and others.

Recent Developments

  • In December 2023, DMG MORI partnered with Wilhelm Blessing GmbH & Co. KG and Walter AG for holistic tool solutions, innovative clamping devices, and data-based quality prediction.
  • Makino Inc. developed a 5-axis machining center, DA500. It improves the productivity of manufacturing equipment parts that require complex three-dimensional shapes, smooth curved shapes, and high machined surface quality.
  • In October 2023, DN Solutions launched 4th-generation vertical machining centres (DNM 4500, DNM 5700, and DNM 6700) with enhanced productivity and reliability. The new DNM Series features thermal displacement compensation as standard to ensure that the machining results never vary regardless of the machine's environment.
  • In August 2023, Okuma Corporation partnered with EMUGE-FRANKEN for a technology program. The new partnership strategically combines high-performance cutting tool solutions and applications expertise from EMUGE-FRANKEN with leading machine tool technology from Okuma.
  • In June 2023, Makino Inc. introduced a horizontal machining center, a91nx. This horizontal machining centre's spindle line-up can handle various work materials such as cast iron and aluminium.

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