High demand for vertical type machines is projected to bolster global milling machines market growth over the decade, says Fact.MR.

Rockville, Jan. 04, 2023 (GLOBE NEWSWIRE) -- The global milling machines market is expected to garner US$ 13 billion by 2033, advancing at 5.6% CAGR from 2023 to 2033, as per a new industry analysis by Fact.MR, a market research and competitive intelligence provider.

Milling machines use rotary cutters to separate material from a workpiece. These machines are capable of boring, drilling, and cutting a variety of materials. Milling is the method of removing material in the direction of the tool axis, and the equipment used in the process is known as a milling machine.

Milling machines come in various varieties and are used in a wide range of industries. Milling machines employ cylindrical tools such as end mills and drills to remove material. Milling machines are mostly utilized on flat surfaces; however, they can also work on irregular surfaces.

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Demand for high-quality products is a primary factor driving the demand for milling machines. The worldwide milling machines market has evolved because of the increased demand for CNC (computer numerical control) machines due to their enhanced technology and precise cutting. CNC machines have grown in popularity over the years because they are very efficient and productive and allow for the inclusion of new technology.

Moreover, the rise in automation has resulted in a surge in demand for automatic milling machines. These machines need less human intervention and require less capital. Manufacturers are using automatic milling machines to boost their manufacturing capacity.

Furthermore, manufacturers are concentrating on technological advancements to make their products more advanced and efficient.

Key Takeaways from Market Study

• The global milling machines market is valued at US$ 7.5 billion in 2023.
• Worldwide sales of milling machines are projected to reach US$ 13 billion by 2033.
• The market is anticipated to advance at a CAGR of 5.6% from 2023 to 2033.
• Asia Pacific accounted for 40% share of the global market in 2022.
• Demand for vertical milling machines is predicted to evolve at a CAGR of 4% during the forecast period.
  

“Milling machines serve important purposes in many industries, making them a vital part of the manufacturing process. Furthermore, they come with various technologies, including manual, semi-automatic, and CNC, making them suitable for different industries,” says a Fact.MR analyst

Key Segments of Milling Machines Industry Research

By Type :

• Horizontal Milling Machines
• Vertical Milling Machines

By End Use :

• Industrial
• Power & Energy
• Automotive
• Aerospace & Defense
• Other End Uses
  

By Region :

• North America
• Latin America
• Europe
• APAC
• MEA
  

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Regional Analysis

Asia Pacific is expected to dominate the global milling machines market during the projection period. Asia Pacific has a huge and well-established manufacturing industry that necessitates a wide range of machine tools and metal-cutting devices. As a result, the demand for milling machines is increasing in Asia Pacific.

Moreover, India, China, Japan, and South Korea are major contributors to the Asia Pacific market.

Key Companies Profiled

• Amera-Seiki
• DATRON Dynamics, Inc
• Doosan Machine Tools
• ANDERSON EUROPE GMBH
• Haas Automation, Inc
• Baileigh Industrial Holdings LLC
• FANUC CORPORATION
• Benign Enterprise co
• Hurco Companies, Inc
• CHIRON Werke GmbH & Co. KG
• DMG Mori Seiki Co., Ltd
• EMCO Group

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global milling machines market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of type (horizontal milling machines, vertical milling machines), end use (industrial, power & energy, automotive, aerospace & defense, other end uses) across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

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