Milling Machine Market Set to Witness an Uptick during 2019 to 2025

Posted by Mrudula Anil Karmarkar on October 4th, 2021

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 recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.

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.

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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.

Milling Machine Market Report Highlights

•          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.

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.

Grand View Research has segmented the global milling machine market on the basis of type, end use.

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

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.