The global milling machine market size is expected to reach
USD 100,861.0 million by 2025, registering a CAGR of 7.0% from 2019 to 2025,
according to a new report by Grand View Research, Inc. The growing popularity
of multi-axis milling machines, which can potentially transform the overall
machining process by making it more accurate, reducing the amount of human
intervention required, and improving the surface finish of the final product,
is expected to contribute to the growth of the market.
The demand for fabricated metal
products, particularly from the construction and machinery industries, is
growing across the globe. Fabricated metal products are widely used in a
variety of commercial as well as household use products such as ammunition,
cutlery and utensils, and building items. The growing demand for such and other
fabricated metal products is driving the demand for milling machines globally.
CNC machining has become pivotal for
the manufacturing industry and is turning out to be a widely-sought technique
to machine metal parts with a high level of precision. CNC machining involves a
precise automation process that can produce high-quality metal products without
any human intervention. Moreover, manufacturers are increasingly opting for
machines with multi-axis machining capabilities in order to produce
high-quality metal parts within shorter time durations.
Some of the latest trends the market
has been witnessing include the continued adoption of 5-axis and 6-axis milling
machines. While 5-axis machines have had a significant impact on the metal
processing industry by eliminating the turnaround time, reducing waste, and
increasing efficiency; 6-axis machines hold the potential to transform the
machining operations and processes in their entirety. The growing demand for
high-quality fabricated metal products from defense & aerospace and
automotive, among other industries, is leading to growth opportunities for
developing new and innovative multi-axis machine tools.
Automation is gaining traction in the
machining industry in developed as well as developing economies. However, Asia
Pacific is poised to emerge as the dominant regional market over the forecast
period. Asia Pacific is home to a large and well-established manufacturing
sector, which requires a myriad of machine tools and metal cutting products. As
such, companies in the Asia Pacific market are expected to adopt innovative
technologies to manufacture metal cutting products and machine tools.
Browse full research report on Milling Machine Market: https://www.grandviewresearch.com/industry-analysis/milling-machine-market
Further key findings from the study
suggest:
- Advances in technology coupled with a large consumer base are
expected to create growth opportunities for automatic milling machines
- The automotive end-use segment is expected to register the
highest CAGR over the forecast period owing to the growing demand for
metal parts with high-quality cuts and finishes
- In terms of type, the vertical milling machine segment is
expected to register the highest CAGR of 7.45% from 2019 to 2025. This can
be attributed to the fact that these machines are affordable to procure
and occupy smaller floor space
- Europe is anticipated to emerge as the fastest-growing
regional market as Europe is home to a continuously-growing automotive
industry and a promising energy sector
- Some of the key players of milling machine market are AMADA
CO., LTD.; Amera Seiki, DATRON Dynamics, Inc.; DMG MORI; Haas Automation,
Inc.; FANUC CORPORATION; Okuma Corporation; Shenyang Machine Tool Co.,
Ltd. (SMTCL); Hurco Companies, Inc.; Dalian Machine Tool Group (DMTG)
Corporation; and Yamazaki Mazak Corporation.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/milling-machine-market/request/rs1
Grand View Research has segmented the
global milling machine market on the basis of type, end use, and region.
Milling Machine Type Outlook (Revenue,
USD Million, 2014 - 2025)
- Horizontal Milling Machine
- Vertical Milling Machine
Milling Machine End Use Outlook
(Revenue, USD Million, 2014 - 2025)
- Automotive
- Aerospace & Defense
- Construction Equipment
- Power & Energy
- Industrial
- Others
Milling Machine Regional Outlook
(Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Mexico
- MEA
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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