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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Machining Centres Market Share
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.
Machining Centres Market Report Snapshots
Machining Centres Market Growth
Machining Centres Market Trends
Machining Centres Market Share
Machining Centres Market Regional Analysis
*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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Key Questions Answered in the Report
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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