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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Milling Machine Market Size
The global milling machine market attained a value of USD 84.26 billion in 2023. The milling machine market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.2% to reach USD 157.02 billion by 2032. The Asia Pacific is the fastest-growing market for the product.
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Milling Machine Industry Segmentation
Milling machines are versatile and, therefore, can perform many tasks, including the manufacturing of fillet, turning, chamfering, boiling, facing, cutting, and cutting of slots. Such devices could also be used for the simultaneous installation of several cutters in several cuts.
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On the basis of mechanism, the milling machine market can be divided into:
- Fraction Rice Milling Machine
- Grind Rice Milling Machine
Based on the direction, the milling machine market can be divided into:
- Vertical Type Mill Rollers
- Horizontal Mill Rollers
The milling machine market can be broadly categorised based on its end-use segments into:
- Automotive
- Aerospace and Defence
- Construction Equipment
- Power and Energy
- Industrial
- Others
The EMR report looks into the regional milling machine markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Milling Machine Market Analysis
A significant factor in the increase of the demand for milling machines is the rising demand for high-quality products. Due to its advanced technology and precise cutting, the increasing demand for computer numerical control (CNC) machines has increased the global milling machine market. Three types of milling machines available in the market are manual, semi-automatic, and automatic. Manufacturers rely on technical developments to make the product more advanced and successful. The increased demand for automated frying machines has led to an increase in automation. Such computers are capital-intensive and require fewer people. Automatic milling machines are used by manufacturers to increase production efficiency. The demand for CNC machines has grown over the years, as they are highly effective, competitive, and enable new technologies to be implemented. Such system advantages are also driving the development in the establishment of machinery manufacturers and distributors. These factors are expected to encourage the milling machine market further.
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Competitive Landscape of Milling Machine Industry
The report presents a detailed analysis of the following key players in the global milling machine market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Amada Holdings Co., Ltd.
- Amera Seiki
- Datron Dynamics, Inc.
- Dmg Mori Co Ltd
- Haas Automation, Inc.
- Fanuc Corporation
- Okuma Corporation
- Shenyang Machine Tool Co., Ltd.
- Hurco Companies, Inc. (NASDAQ: HURC)
- Dalian Machine Tool Group (Dmtg) Corporation
- Yamazaki Mazak Corporation
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| 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:
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| Breakup by Mechanism |
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| Breakup by Direction |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Milling Machine Market Report Snapshots
*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 global milling machine market attained a value of nearly USD 84.26 billion.
The market is projected to grow at a CAGR of 7.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 157.02 billion by 2032.
The major drivers aiding the market growth are the increasing consumer awareness regarding quality products, advancements in metal cutting applications, increasing construction activities, growing urbanisation, and the development of advanced technologies.
The key market trend guiding the growth of the market include the growing adoption of computer numerical control (CNC) machines and automation.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major mechanisms of milling machine considered in the market report include fraction rice milling machine and grind rice milling machine.
The various direction segments of milling machine considered in the market report are vertical type mill rollers and horizontal mill rollers.
The significant end uses of milling machines are automotive, aerospace and defence, construction equipment, power and energy, and industrial, among others.
The major players in the market are Amada Co., Ltd., DATRON Dynamics, Inc., DMG MORI, FANUC UK Limited, Okuma Corporation, Amera Seiki, Haas Automation, Inc., Shenyang Machine Tool Co., Ltd., Hurco Companies, Inc., Dalian Machine Tool Group (Dmtg) Corporation, and Yamazaki Mazak Corporation, among others.
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