Fairfield Market Research
Milling Machine Market

Milling Machine Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Chemicals & Materials | Author Name: Harshad

Preliminary research of Fairfield Market Research indicates a promising growth outlook for global milling machine market during the course of next few years.

Milling Machine Market Benefits Largely from Growing Demand for High Quality of Industrial Goods

Increased demand for milling machines is largely due to consumer demand for high-quality goods. The global market for milling machines has improved due to increased demand for computer numerical control (CNC) machines because of their sophisticated method, and precise cutting. Additionally, rising demand for top-of-the-line, technologically advanced boring-milling machines is anticipated to open up lucrative opportunities for market participants in the years to come. Increased public spending on new road construction projects in developed and developing nations will significantly affect the milling machine market. For instance, the US Congress passed an infrastructure bill in November 2021 to allocate close to US$240 Bn for building new roads, renovating existing roads, and reconstructing airports, bridges, railways, and other forms of public transportation.

Costs of milling machines may eventually decline with expanded production and deployment, allowing businesses to sell their goods at competitive yet appealing pricing and bolstering their share in the milling machine market. The strong presence and extensive product lineup are responsible for milling machine market expansion. Approximately 27% of the global market comprises these equipment makers. These businesses also prioritize investing in cutting-edge technology and providing special features for the equipment, such as mounting numerous cutting blades for quick output and better production rates. For instance, in January 2020, RoboNano, a-NTiA ultra-precision machine tool, was introduced by FANUC Corporation, a producer of CNC machines and industrial solutions. It provides higher-quality optical surface finishing and high-performance machining options with superior mass production quality and manufacturer reliability.

Milling Machine Market: COVID-19 Impact

The COVID-19 pandemic halted the production of several milling machine items, which is attributed to the global shutdown. This has impacted the expansion of the milling machine market in recent months and is expected to continue in 2021. COVID-19 had an impact on milling machine sales in the fourth quarter of 2021 and is expected to have a negative influence on market growth throughout the year. The significant demand for milling machines was formerly observed in huge manufacturing regions such as North America, Europe, Asia-Pacific, and South America, which have been badly affected by the development of the coronavirus, resulting in a decline in milling machine demand. Furthermore, the potential impact of the lockdown is now unknown, and organizations’ financial recovery is entirely dependent on their cash reserves. Milling machine makers can only afford a full lockdown for a few months before having to change their investment plans. For instance, numerous market participants paused manufacturing for several weeks to cut costs. On the contrary, few players used employee layoffs to survive the COVID-19 health crisis. After COVID-19, milling machine makers must focus on preserving their staff, operations, and supply networks to respond to immediate emergencies and discover working methods.

Demand for HSC Milling Machines Prominent in Milling Machine Market

The use of milling machines as high-speed cutting tools is significant. When working with hard and graphite materials, these HSC milling machines deliver excellent results. The HSC milling method may generate exceedingly exact surfaces because of the incredibly rapid removal rates. For speedy and effective milling, all HSC milling machines are equipped with tool and workpiece changes that, depending on machine size, may be enlarged to up to 90 locations. The work is significantly simplified by the exceptional precision of the new HSC milling machine. The machining tools under the rigorous HSC milling machines also have long service lives because of the reduced vibrations. Because of this, the system using processing gear and a Roders machine also has a convincing surface quality. Molds may achieve the tiniest corner radii of just 0.2 mm, while milling machines can be used for diameters as small as 0.3 mm. Since the new Roders milling machine was put to use, the time needed for inspecting the molds has, for the most part, been greatly reduced. The market is growing as a result of all these reasons increasing milling machine usage.

Increasing Consumption in Fluorochemical Production to Drive Milling Machine Market

The main factor driving the development in demand for milling machines is the rising demand for high-quality goods. The demand for computer numerical control (CNC) machines has increased due to their cutting-edge process and precise cutting, which has expanded the market for these machines globally. These machines fall into three categories: automatic, semi-automatic, and manual milling. The manufacturing companies are focusing on the product's technical development to make it more advanced and well-organized. Increased demand for automatic machinery is a result of growing mechanization. These machines require significant investment and rely less on human interaction. To increase manufacturing capacity, businesses are putting automatic machinery into operation. Since CNC machines are very efficient and productive and allow the fusion of cutting-edge machinery, their demand has increased over time. These advantages of machines have fueled the growth of manufacturers and suppliers to provide machines.

Costs Associated with Installation and Maintenance to Limit Milling Machine Market Growth

Milling machines are an essential part of the machine tool market, although they only do limited milling activities such as drill and lathe. Due to this limitation, industries are compelled to construct additional machines, increasing the capital investment necessary. Furthermore, different machines have varied wear and tear schedules, resulting in greater maintenance expenditures for the organization. Other types of machine tools, such as machining centers, on the other hand, perform many operations, including milling; as a result, clients choose machining centers over milling machines. These issues are expected to limit the growth of milling machine market.

Vertical Machines Bestseller in Milling Machine Market

Based on grade, the milling machine market is segmented into vertical milling machines, bed-type machines, horizontal milling machines and others (box milling machines, flour milling machines etc.). The vertical milling machines category dominated the market over the forecast period because of its numerous purposes in diverse industries. Compared to horizontal mills, this type of mill can be installed rapidly and has higher energy efficiency and performance. Furthermore, horizontal mills have a more polished surface finish, which limits their application in precision engineering and the automobile industries. Horizontal mills are employed for methodical purposes and sophisticated parts. Thus their tool life is rather long. Mills with varied axis possibilities, gantry mills, and other types of mills are also included in the scope. Because these mills are very small, they are installed and operated by small and medium-sized businesses.

Application Remains Maximum in Aerospace Industry for Parts Assembling

Based on application, the milling machine market is segmented into automotive, aerospace and others. The aerospace category held the largest market share in 2021 and is anticipated to increase significantly over the next several years. The aerospace and defense industries produce various parts and assemblies using milling machines. Brackets, control surfaces, landing gear, engine mounts, and other elements are a few. They are also employed in the production of small guns and missile parts. Additionally, milling machines are frequently used in aerospace and defense industries to create prototypes or unique parts. This ensures prompt delivery of high-quality parts while cutting lead times and production costs. On the other hand, the automotive category is anticipated to increase significantly. In the automotive industry, the milling machine is used to shape and cut metal components. Chassis, gearbox housings, engine blocks, and other components are frequently machined. At the same time,  making these components and milling machines aids in achieving accuracy and precision. Additionally, they aid in minimizing time and resource waste.

Soaring Popularity of Sustainable Farming Products Augurs Well for Milling Machine Market in Asia Pacific

Over the forecast period, it is anticipated that Asia Pacific’s milling machine market market will account for the largest revenue share. The Asia Pacific region is anticipated to continue to control the global market during the forecast period as long as some of the major milling machine firms have their headquarters. The government's innovative initiatives, including the Make in India, and Skill India programs, also drive up demand for machine tools in the province. Furthermore, growth is fueled by manufacturers entering the Asia Pacific region to increase their market share. Governments in Asia Pacific are expanding their infrastructure spending, which is anticipated to benefit the worldwide cold milling market. Road lanes in Japan must always be milled flush to the kerb on both sides without the milling machine making any turning movements. The W 200 Hi from Wirtgen is the milling machine for this task. Two zero-clearance sides are provided. Additionally, the W 200 Hi is equipped with cutting-edge engine technology to meet the exacting requirements of the US Tier 4f emission standards that are in effect in Japan.

The European milling machine market is anticipated to experience stable revenue growth throughout the forecast period due to the region's vehicle manufacturing industries implementing milling machines with force. While many companies that make cars are based in Europe, businesses are accepting of devices with multitasking capabilities. Similarly, rail manufacturing firms in a few European countries, including the UK, France, and Germany, have also adopted these machines. The expansion of the power-generating industry and the ensuing growth in demand for components like motors and turbines, which need to be machined using higher accuracy machine tools like milling machines, can also be credited for the expansion of the provincial market for milling machines.

Global Milling Machine Market: Competitive Landscape

In January 2022, Yamazaki Mazak unveiled the QTE Series turning machine and CV5-500 5-axis machining center. Additionally, the CVE-600 and VCN-700 are two other vertical machines the company plans to introduce in March 2022. These machines have high performance, accuracy, and time efficiency. Similarly, in November 2020, a three-axis vertical milling machine with three compact axes that can produce colorful pieces weighing up to 1,500 kg was introduced by Hurco Companies. It has an amazing capacity and gives increased output.

A few players in the milling machine market include Brother Industries, Ltd., Dalian Machine Tool Group Corporation, DMG Mori Seiki Co. Ltd., GILDEMEISTER energy solutions GmbH, Kitamura Machinery, Makino Milling Machine Co., Ltd., and Shenyang Machine Tools Co. Ltd.

Global Milling Machine Market is Segmented as Below:

By Type

  • Vertical Milling Machines
  • Bed Type Milling Machines
  • Horizontal Milling Machines
  • Others (Box Milling Machines, Floor Milling Machines etc.)

By Process

  • Face Milling
  • Peripheral Milling

By Application

  • Automotive
  • Aerospace
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Milling Machine Market

  • Milling Machine Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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