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Historical Year
Forecast Year
The global machining centres market size reached a value of about USD 26.05 billion in 2023. The market is expected to grow at a CAGR of about 7.44% during the forecast period of 2024-2032 and is likely to attain a value of USD 40.18 billion by 2032.
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Machining centres carry out multiple types of machining simultaneously on various workpiece surfaces, thereby significantly enhancing production efficiency in various industries. Continual advancements in machining precision and speed have made machining centres an integral part of the production process.
The increasing demand for high accuracy, reduced errors, and bulk production is a key driver supporting machining centres market expansion, as machining centres offer these benefits. Additionally, the growing adoption of computer numerical control (CNC) machining centres, which provide precise control over tool movement and manufacturing processes, is also contributing to the market growth.
Rising use of robotics, introduction of multi-tasking machining centres, and increasing demand for remote monitoring and maintenance are factors boosting the machining centres market growth
June 2024
ISRO Chairman inaugurated advanced propellant tank production and CNC machining facilities at Hindustan Aeronautics Limited's Aerospace Division to support India's LVM3 rocket program. The facilities will enable the production of six LVM3 rockets per year.
June 2024
CORE Industrial Partners acquired National Manufacturing Co., a provider of CNC milling and turning, wire EDM, and sinker manufacturing capabilities. The acquisition is part of CORE's strategy to expand its presence in technically demanding end markets.
May 2024
A machining centre has been added to the Cumberland County Business Incubator at Roane State's campus in Crossville. The centre will provide training and resources for entrepreneurs and small businesses in the region.
January 2024
The DMG MORI Open House Pfronten 2024 event held in January showcased innovations in machining centres and process integration by featuring over 45 high-tech machines and more than 20 automation solutions.
Increasing popularity of multi-tasking machining centres
Multi-tasking machining centres have favourable impacted the machining centres market outlook due to their ability to perform multiple tasks simultaneously. This technology allows machining centres to be more versatile and reduces setup time and increases productivity.
Rising adoption of automation and robotics
The Association for Advancing Automation (A3) reported a 67% increase in robot orders in the second quarter of 2021 compared to the same period in the previous year. The increasing adoption of automation and robotics in manufacturing is driving the demand for machining centres as well.
Integration of additive manufacturing
The integration of additive manufacturing (3D printing) with machining centres is another key trend influencing machining centres market development as it enables the production of complex components with intricate designs and internal structures.
Emergence of high-speed machining
High-speed machining technology enables machining centres to perform tasks at faster speeds and with greater precision, leading to increased productivity. This technology is being used by the aerospace industry in the production of aircraft components.
The increasing automation in the manufacturing sector, particularly in the metal fabrication industry, is also driving the demand for machining centres. Organisations such as Hurco Companies Inc. manufacture computer numeric control (CNC) machine tools that are designed to support the metal forming industry as well as metal cutting.
The adoption of Industry 4.0 solutions and latest technologies, and the development of multifaceted tools, such as 5-axis technology, are other key factors driving the machining centres market growth. Latest technology developments in machining centres include speed and motion control. New and modern machine setups are becoming faster in traverse feed rates as well as programmable rates. This enhances productivity, machine life, accuracy level in manufactured parts, and finishing of surfaces.
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The EMR’s report titled “Machining Centres Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
HMCs are demanded in high-production settings, while VMCs are preferred for relatively lesser complex tasks
Horizontal machining centres (HMCs) are equipped with a spindle that is installed parallel to the ground, allowing for efficient machining of large workpieces. HMCs, while relatively expensive, offer several benefits, such as superior coolant and chip control. There is also the presence of a fourth axis rotary table, permitting the operator to use tombstone type fixturing with multiple sides to produce a greater number of parts in one arrangement. These machines are ideal for heavy-duty machining operations and are commonly used in industries such as aerospace, automotive, and construction.
Vertical machining centres (VMCs), on the other hand, are equipped with a spindle that is installed perpendicular to the ground, allowing for efficient machining of smaller workpieces. As per machining centres market analysis, these machines are commonly used to manufacture engineering parts, medical devices, and electronic components. Companies like FANUC offer solutions like ROBODRILL for VMC applications. The modern solution offers better quality and precision at attractive hourly rates.
Distinct uses of machining centres across industrial sectors is likely to boost market growth
Machining centres are extensively used in production of aerospace, medical parts, automotive, power generation, hardware, wood processing, and home appliances. In the automobile industry, they are employed for efficient grinding and drilling of engine parts and for producing dies for body components. A 5-axis machining is extensively employed in CNC machining centres to produce intricate aircraft components, such as engine, landing gear, and structures.
The construction and agriculture sectors also hold substantial machining centres market share as they use machining centres for manufacturing heavy equipment and machinery, such as excavators, bulldozers, and tractors. The fluid power industry, which includes hydraulic and pneumatic systems, also relies heavily on machining centres to produce components. Finally, the oil and energy sector use machining centres for the manufacturing of drill bits, pumps, and valves that are used in drilling and extraction operations.
Market players are are investing in multi-faceted tools and high-precision machinery to cater to the growing demand from industries such as aerospace, medical, and automotive
Yamazaki Mazak Corporation, established in 1919, has been a key contributor to the development of the machine tool industry. Headquartered in Aichi Prefecture, Japan, it manufactures sophisticated machine tools, such as machining centres, CNC turning centres, multi-tasking centres, laser processing machines, and automation systems with a ‘DONE IN ONE’ concept.
FFG European and American Holdings GmbH is the manufacturer of machine tools and systems. The company is headquartered in Germany, Europe and produces machining centres, turning centres, milling machines, grinding machines, rotary transfer machines, and gear cutting machines for mechanical production and automation.
JTEKT Corporation has been in operation since 1910 and is headquartered in Kyoto, Japan. JTEKT is known for its diverse product portfolio, which includes automotive and industrial components such as power steering systems, gearboxes, and machine tools.
Okuma Corporation was founded in 1898 and is a comprehensive manufacturer of CNG machine tools. Based in Oguchi, Japan, it produces tools ranging from wheel machines and lathes to grinders, machining centres, double columns, and super multitasking machines.
Other key players in the global machining centres market include FANUC Corporation and Makino Milling Machine Co., Ltd., among others.
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North America leads the market due to the heavy demand for machining centres from automotive industry
The market is segmented by region, with Asia-Pacific being the largest market share holder. The region is expected to continue its dominance due to the growing demand from industries such as automotive, aerospace, and construction. North American region in machining centres market report is also expected to drive the demand for machining centres due to the increasing demand from the prefabricated metals industry. Europe is also contributing to the market growth owing to the rising demand from various industries, including automobiles, electrical engineering, and electronics. The regional markets use machining centres due the need for high precision machinery and the increasing popularity of multi-faceted tools.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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Machining Centres Market Growth
Machining Centres Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the machining centres market reached an approximate value of USD 26.05 billion.
The market is expected to grow at a CAGR of 7.44% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 40.18 billion by 2032.
The major drivers of the market include the increasing deployment of machining centres in the oil and gas sector, rising application of the product across the construction industry, and growing expansion of the automotive industry.
Key trends aiding market expansion include the growing research and development activities in the aerospace and defence sector, increasing shift towards automation in various end-use industries, and heightened digitalisation in households.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Horizontal machining centre is expected to lead the market due to the increasing application of product in complex industrial tasks.
Automotive, aerospace, construction and agriculture, fluid power, and oil and energy, among others are the major applications of the product.
Machining centres are important in the automotive industry to manufacture critical car components. In this regard, the automotive industry, due to the rising sale of passenger and commercial vehicles, is a major industry in the market.
Key players in the market are JTEKT Corporation, FANUC Corporation, Yamazaki Mazak Corporation, FFG European and American Holdings GmbH, Makino Milling Machine Co., Ltd., and Okuma Corporation, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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