Milling Machine Market

Milling Machine Market Size & Overview – Key Insights & Forecast

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14264
  • Published Date: Apr, 2024
  • Pages: 236
  • Category: Machinery & Equipment
  • Format: PDF
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Market Introduction

The global Milling Machine market was valued at USD 102.93 Billion in 2023 and growing at a CAGR of 5.23% from 2023 to 2033. The market is expected to reach USD 171.38 Billion by 2033. There is a demand for superior quality products and CNC (compute numerical control) machines, propelling the market's growth. Milling machine tools help develop complex shapes and products conveniently and easily, and they help industries develop superior-quality products with improved dimensional accuracy. Milling machines are used to cut, bore gears, create slots and drill. Milling is also used for machine-curved surfaces. These are some of the factors which are fueling the Milling Machine market.

There is a surge in the demand for passenger cars and commercial vehicles, which eventually is driving the milling machine market. Also, the popularity of CNC machines is growing, which is also helping the growth of the market as the demand for automation is growing at a fast pace. Milling machines, especially horizontal ones, provide better accuracy and precision; hence, these are broadly used in the aerospace and automotive sectors. Manufacturers are looking for new technologies to enhance products; hence, the demand for milling machines and other machine tools is growing. It can accommodate several materials, such as metals, ceramics and engineered materials. It makes it easier for the manufacturers to choose from several materials based on their requirements. Hence, milling machines are broadly used in the aerospace sector, commercial, automotive, medical, electronics, transportation, and telecommunications. In the aerospace sector, CNC milling machines make lightweight flight parts of the best quality. These milling machines offer exact and accurate parts that act as replacements, prototypes, fuel bodies, transmissions, manifolds, and aircraft structures.

Similarly, machines, especially CNC milling, have broad applications in the automotive sector, from engine blocks to cylinders, water pumps, piston rods, etc. It is the main technique used in the making of OEM parts. It applies to making parts like interior lighting and car headlights. These machine tools are also used to make sterile and safe equipment in the medical field. Also, equipment such as biopsy tubes, hip stems, bone screws, reamers, spacers, hip cups, inserts and mould cavities are produced using the milling machines. All players depend on CNC milling machines to manufacture essential components like turbines, valves, gears, fuel pumps and gearboxes in the renewable and non-renewable energy sectors. Milling is also required to make precision parts for the military sector. Its application ranges from gun components to firearms, drones, UAVs and pistol locking. The electronics sector is also broadly dependent on CNC machines as they have applications for the electronic components of car parts, laptops, televisions, CPUs, mobile phones, smartphones, and sound systems, among others. All these factors are driving the use of milling machines market.

Milling Machine Market Size

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Recent Development

  • In February 2023: Yamazaki Mazak Corporation opened a new plant in India as the demand for machine tools is growing, and the automotive, medical, semiconductor, and aircraft sectors are expanding. This new plant started operating in March 2023 to meet the market's needs. It helped the organization expand its market share in the Milling Machine market.
  • In January 2023: Haas Automation, the largest machine tool manufacturer in the West, showcased its innovative products from 19th January to 25th January at the Bengaluru International Exhibition Center (BIEC). The exhibition of its advanced automation in the machine tool sector is gaining more customers for the organization. It helped the organization grow its market share in the region for the Milling Machine market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Automation
          4.3.2. Market Attractiveness Analysis By Type
          4.3.3. Market Attractiveness Analysis By End User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing demand for milling machines in Industries
    5.3. Restraints
          5.3.1. Shortage of skilled professionals
    5.4. Opportunities
    5.5. Growing demand for automation in machine tools Challenges
          5.5.1. Economic slowdown

6. Global Milling Machine Market Analysis and Forecast, By Automation
    6.1. Segment Overview
    6.2. Conventional
    6.3. CNC

7. Global Milling Machine Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Horizontal
    7.3. Vertical

8. Global Milling Machine Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Automotive
    8.3. Aerospace & Defence
    8.4. Construction Equipment
    8.5. Power and Energy
    8.6. Industrial
    8.7. Others

9. Global Milling Machine Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Milling Machine Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Milling Machine Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Hass Automation, Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Yamazaki Mazak Corporation
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. ANDRITZ Group
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Datron Dynamics Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Anderson Europe GMBH
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Okuma Corporation
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Amera-Seiki
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Buhler Group
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. CPM Roskamp Champion
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. EMCO Group
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Sprout Waldron & Company
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Hurco Companies
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis

List of Table

1. Global Milling Machine Market, By Automation, 2020-2033 (USD Billion)

2. Global Conventional, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

3. Global CNC, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

4. Global Milling Machine Market, By End User, 2020-2033 (USD Billion) 

5. Global Automotive, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

6. Global Aerospace & Defence, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

7. Global Construction Equipment, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

8. Global Power and Energy, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

9. Global Industrial, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

10. Global Others, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

11. Global Milling Machine Market, By Type, 2020-2033 (USD Billion) 

12. Global Horizontal, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

13. Global Vertical, Milling Machine Market, By Region, 2020-2033 (USD Billion) 

14. North America Milling Machine Market, By Automation, 2020-2033 (USD Billion)

15. North America Milling Machine Market, By End User, 2020-2033 (USD Billion)

16. North America Milling Machine Market, By Type, 2020-2033 (USD Billion)

17. U.S. Milling Machine Market, By Automation, 2020-2033 (USD Billion)

18. U.S. Milling Machine Market, By End User, 2020-2033 (USD Billion)

19. U.S. Milling Machine Market, By Type, 2020-2033 (USD Billion)

20. Canada Milling Machine Market, By Automation, 2020-2033 (USD Billion)

21. Canada Milling Machine Market, By End User, 2020-2033 (USD Billion)

22. Canada Milling Machine Market, By Type, 2020-2033 (USD Billion)

23. Mexico Milling Machine Market, By Automation, 2020-2033 (USD Billion)

24. Mexico Milling Machine Market, By End User, 2020-2033 (USD Billion)

25. Mexico Milling Machine Market, By Type, 2020-2033 (USD Billion)

26. Europe Milling Machine Market, By Automation, 2020-2033 (USD Billion)

27. Europe Milling Machine Market, By End User, 2020-2033 (USD Billion)

28. Europe Milling Machine Market, By Type, 2020-2033 (USD Billion)

29. Germany Milling Machine Market, By Automation, 2020-2033 (USD Billion)

30. Germany Milling Machine Market, By End User, 2020-2033 (USD Billion)

31. Germany Milling Machine Market, By Type, 2020-2033 (USD Billion)

32. France Milling Machine Market, By Automation, 2020-2033 (USD Billion)

33. France Milling Machine Market, By End User, 2020-2033 (USD Billion)

34. France Milling Machine Market, By Type, 2020-2033 (USD Billion)

35. U.K. Milling Machine Market, By Automation, 2020-2033 (USD Billion)

36. U.K. Milling Machine Market, By End User, 2020-2033 (USD Billion)

37. U.K. Milling Machine Market, By Type, 2020-2033 (USD Billion)

38. Italy Milling Machine Market, By Automation, 2020-2033 (USD Billion)

39. Italy Milling Machine Market, By End User, 2020-2033 (USD Billion)

40. Italy Milling Machine Market, By Type, 2020-2033 (USD Billion)

41. Spain Milling Machine Market, By Automation, 2020-2033 (USD Billion)

42. Spain Milling Machine Market, By End User, 2020-2033 (USD Billion)

43. Spain Milling Machine Market, By Type, 2020-2033 (USD Billion)

44. Asia Pacific Milling Machine Market, By Automation, 2020-2033 (USD Billion)

45. Asia Pacific Milling Machine Market, By End User, 2020-2033 (USD Billion)

46. Asia Pacific Milling Machine Market, By Type, 2020-2033 (USD Billion)

47. Japan Milling Machine Market, By Automation, 2020-2033 (USD Billion)

48. Japan Milling Machine Market, By End User, 2020-2033 (USD Billion)

49. Japan Milling Machine Market, By Type, 2020-2033 (USD Billion)

50. China Milling Machine Market, By Automation, 2020-2033 (USD Billion)

51. China Milling Machine Market, By End User, 2020-2033 (USD Billion)

52. China Milling Machine Market, By Type, 2020-2033 (USD Billion)

53. India Milling Machine Market, By Automation, 2020-2033 (USD Billion)

54. India Milling Machine Market, By End User, 2020-2033 (USD Billion)

55. India Milling Machine Market, By Type, 2020-2033 (USD Billion)

56. South America Milling Machine Market, By Automation, 2020-2033 (USD Billion)

57. South America Milling Machine Market, By End User, 2020-2033 (USD Billion)

58. South America Milling Machine Market, By Type, 2020-2033 (USD Billion)

59. Brazil Milling Machine Market, By Automation, 2020-2033 (USD Billion)

60. Brazil Milling Machine Market, By End User, 2020-2033 (USD Billion)

61. Brazil Milling Machine Market, By Type, 2020-2033 (USD Billion)

62. Middle East and Africa Milling Machine Market, By Automation, 2020-2033 (USD Billion)

63. Middle East and Africa Milling Machine Market, By End User, 2020-2033 (USD Billion)

64. Middle East and Africa Milling Machine Market, By Type, 2020-2033 (USD Billion)

65. UAE Milling Machine Market, By Automation, 2020-2033 (USD Billion)

66. UAE Milling Machine Market, By End User, 2020-2033 (USD Billion)

67. UAE Milling Machine Market, By Type, 2020-2033 (USD Billion)

68. South Africa Milling Machine Market, By Automation, 2020-2033 (USD Billion)

69. South Africa Milling Machine Market, By End User, 2020-2033 (USD Billion)

70. South Africa Milling Machine Market, By Type, 2020-2033 (USD Billion)

List of Figures 

1. Global Milling Machine Market Segmentation

2. Global Milling Machine Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Milling Machine Market Attractiveness Analysis By Automation  

9. Global Milling Machine Market Attractiveness Analysis By End User 

10. Global Milling Machine Market Attractiveness Analysis By Type 

11. Global Milling Machine Market Attractiveness Analysis By Region

12. Global Milling Machine Market: Dynamics

13. Global Milling Machine Market Share By Automation (2023 & 2033)

14. Global Milling Machine Market Share By End User (2023 & 2033)

15. Global Milling Machine Market Share By Type (2023 & 2033)

16. Global Milling Machine Market Share By Regions (2023 & 2033)

17. Global Milling Machine Market Share By Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. The Brainy Insights has segmented the global Milling Machine market based on below mentioned segments:

Global Milling Machine Market by Automation:

  • Conventional
  • CNC

Global Milling Machine Market by Type:

  • Horizontal
  • Vertical

Global Milling Machine Market by End User:

  • Automotive
  • Aerospace & Defence
  • Construction Equipment
  • Power and Energy
  • Industrial
  • Others

Global Milling Machine by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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