Milling Machine Market Size, Share & Industry Analysis, By Type (Vertical Mills, Horizontal Mills & Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery & Others) and Regional Forecasts, 2019-2026

The global milling machine market size stood at USD 13.22 billion in 2018 and is projected to reach USD 16.01 billion by 2026 exhibiting a CAGR of 2.4% during the forecast period.

Milling machines are expected to exhibit a moderate growth rate owing to their functional versatility in operations across several industries. Some of the functions that they can perform are drilling, chamfering, turning, slot cutting, fillet making, and others. Milling machines are very essential tools used in metal cutting applications. Their ability to perform various tasks efficiently and effectively make them the most critical machines required by multiple industries for different operations.

MARKET TRENDS

Growing Demand for Reduced Operation Cost & Increased Productivity to Boost the Market Growth

Growing demand from the end-users is making the industries to augment their manufacturing process. With the increase in the manufacturing process, companies are looking for reduced operational costs provided by these machines, further fueling the milling machine market growth. Milling machines provide high-quality products along with less production time, which aid the companies in reducing the cost and minimizing wastage. Additionally, the demand for easy-to-install and multi-functions provided by the machines would also propel the market demand. Moreover, the primary application of milling machines into industrial manufacturing as they provide different functions when required for multiple purposes.

Request a Free sampleto learn more about this report.

MARKET DRIVERS

Increasing Demand for Customized Mass Production will Aid the Growth of the Market

Milling machines produces customized products in bulk quantity. The consumer market is looking for products with differentiation and with the latest updates in the hardware and technology. This has resulted in an increased and continuous production process for various industries such as electronics, automobiles, general manufacturing, etc. Furthermore, companies are looking for seizing every opportunity in order to have increased market share; hence they are looking for continuous improvement in their manufacturing facility for increased output. Moreover, the connected industry, industry 4.0, automation, and robotics are emphasizing the companies to have an automated production process resulting in the demand for milling machines.

MARKET RESTRAINT

Single-Function and Cost Associated with Installation and Maintenance to Limit the Growth

Milling machines are an important aspect of themachine tools marketbut provide limited milling functions as drill, lathe, etc. Due to this limitation, the industries are required to install other machines as well, which increases the capital investment required. Moreover, multiple machines have different wear and tear schedules thereby resulting in increased maintenance costs to the company. On the other hand other types of machine tools such as machining centers provide multiple functions in which milling is also included; hence, the customers tend to opt for machining centers instead of milling machines. These factors are anticipated to restrict the growth of the market.

SEGMENTATION

By Type Analysis

To know how our report can help streamline your business,Speak to Analyst

Vertical Mills Segment to have Moderate Growth Fueled by their Multiple Functions

Based on type, the market is divided into vertical mills, horizontal mills, & others. The vertical mills segment is expected to grow moderately over the anticipated period, owing to its multiple functions in various industries. Furthermore, this type of mills can be installed quickly and have high energy efficiency and superior performance as compared to horizontal mills. Moreover, horizontal mills provide a more refined surface finish, thus limiting its use at precision engineering and automotive industries. Horizontal mills are used for systematic purposes and complicated parts; hence, they have comparatively extended tool life. Additionally, other types of mills that are included in the scope are mills with different axis options, gantry mills, etc.. These types of mills are comparably compact in sizes, hence are installed and operated by small and medium scale industries.

By Application Analysis

Precision Engineering to Exhibit High CAGR Backed by Rising Demand from Emerging Economies

Based on application, the market is divided into automotive, general machinery, precision engineering, transport machinery, & others. The precision engineering application segment is expected to grow with substantial CAGR during the forecast period compared to the other applications. This is owed to the function of both horizontal as well as vertical types of mills in the industry. Moreover, the increasing demand from the emerging economies for consumer goods and tools is also expected to fuel the growth. Transport machinery & general machinery segments are expected to have a slow growth rate during the forecast period. Both applications have constant requirements of the milling machine, but due to the slow growth rate of the industry, it is impacting the growth of the market. The automotive application of milling machines is expected to grow at a slow but steady pace. The automotive industry is going through a change that will also impact the demand for the milling machine. Other applications include electrical, construction equipment, and power & energy, which constitute a minor part of the market.

REGIONAL ANALYSIS

Europe Milling Machine Market, 2018 (USD Billion)

To get more information on the regional analysis of this market,Request a Free sample

Regionally, the market is segmented across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Europe milling machine market is anticipated to showcase significant growth in the market as compared to North America, MEA, and LATAM. The region is focused on developing energy-efficient milling machines and a technologically equipped product line. Moreover, increased demand in the manufacturing and processing operations is also fueling the demand in the European market. Furthermore, North America is expected to showcase stagnant growth in the forecast period, owing to the adoption of this machine for industrial applications where these machines are being installed for manufacturing components efficiently. Manufacturers are expanding the business lines in the developing regions by focusing on having their manufacturing facilities along with mergers and acquisitions.

Asia Pacific is anticipated to have a dominant market share during the forecast period, owing to the presence of various manufacturing industries in countries such as China, Japan, India, South Korea, etc. Factors such as increased awareness about the energy-efficient production process, rise in economically developing countries, and rapid industrialization are fueling the milling machine market growth. Additionally, key manufacturers are focusing on establishing their manufacturing facilities in Asia Pacific as the region provides low-cost labor, land, and expenses. Countries, such as India, Japan, & South Korea, are expected to have the highest milling machine market revenue, owing to the rise in demand for high output products with less downtime.

The Middle East & Africa and Latin America are expected to grow at a slower rate during the forecast period. This is owed to the slow growth of the manufacturing sector. Moreover, the companies are focusing on shifting their manufacturing facilities in either Asia Pacific or in Europe.

KEY INDUSTRY PLAYERS

Prominent Manufacturers are Aiming to Strengthen Their Existing Market with Comprehensive Product Portfolio

球员,比如DATRON动力学,Inc .,哈斯奥特曼ation, Inc., YAMAZAKI MAZAK CORPORATION, & FANUC CORPORATION are dominating the market. The growth of these companies is attributable to their strong regional presence along with their comprehensive product portfolio. Approximately, these machine manufacturers account for 27% of market share around the globe.

Moreover, these companies are focusing on investing in new technologies and delivering unique functions of the machines, such as installing multiple cutting blades for swift output and higher production rates.

LIST OF KEY COMPANIES PROFILED:

• DATRON Dynamics, Inc. (Milford, New Hampshire)


• Haas Automation, Inc.(Oxnard, California)


• YAMAZAKI MAZAK CORPORATION (Aichi, Japan)


• Amera-Seiki (Houston, Texas)


• FANUC CORPORATION (Yamanashi, Japan)


• ANDERSON EUROPE GMBH (Detmold, Germany)


• Hurco Companies, Inc. (Indianapolis, Indiana)


• Okuma Corporation (Aichi, Japan)


• KNUTH Werkzeugmaschinen GmbH(Wasbek, Germany)


• EMCO group(Hallein, Austria)

KEY INDUSTRY DEVELOPMENTS:

Companies are engaging in strategic mergers and acquisitions for expanding their distribution network across the globe.For instance,

• January 2018 –UNHInnovation added Datron’s milling machine at its UNH ECenter. The machine is installed to mill wood, foam, acrylic, and metal. This will enable the faculties and students to build a real working prototype. UNH ECenter is a student-run organization located at Durham, NH.


• May 2017 -Baker Industries installed on EcoMill 5-axis milling machine manufactured by EMCO group. The company installed it for the production of large scale frames, lay-up tools, etc.

FUTURE OUTLOOK

The global milling machine market is expected to have a slow yet steady growth over the time period, owing to the reliable performance, enhanced finishing, serviceability, and increased production capacity.

Milling machines have substantial functions across various industries, thus making them a critical aspect during the production process. Moreover, they use multiple technologies such as manual, semi-automatic, and CNC, thereby making them an ideal solution for various industries. With the increased installation by various industries the milling machine market is expected to show steady growth during the forecast period. In the near future, this machine can be an ideal solution in the pharmaceutical industry, food & beverage industry, and others.

REPORT COVERAGE

An Infographic Representation of Milling Machine Market

View Full Infographic

To get information on various segments,share your queries with us

The global milling machine market report offers qualitative and quantitative insights on solutions and services and the detailed analysis of market size & growth rate for all possible segments in the market.

Along with this, the market report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption trends of milling machines solutions by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies of leading market players, macro and micro-economic indicators, and key milling machine industry trends.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2015-2026
Base Year	2018
Forecast Period	2019-2026
Historical Period	2015-2017
Unit	Value (USD billion)
Segmentation	By Type Vertical Mills Horizontal Mills Others (Gantry mills, etc.)
	By Application Automotive General Machinery Precision engineering Transport Machinery Others (Electrical, etc.)
	By Region North America (U.S. and Canada) Europe (Germany, Russia, Italy, and the Rest of Europe) Asia Pacific (China, Japan, India, South Korea, South East Asia and the Rest of Asia Pacific) Middle East & Africa (GCC, South Africa, and the Rest of the Middle East & Africa) 拉丁美洲(巴西、墨西哥和纬度in America)