Global Machining Centres Market Report and Forecast 2022-2027

Global Machining Centres Market Report and Forecast 2022-2027

Market Outlook

The global machining centres market a value of USD 26,051 million in 2021. Aided by the growing demand for machining centres across industries such as automotive and aerospace, the market is projected to further grow at a CAGR of 7.44% between 2022 and 2027 to reach a value of USD 40,184 million by 2027.

Machining centres are defined as the mechanical components which facilitate the machining operations across the industrial sector. These operations include milling, boring, and threading, among others. Machining centres are known to be integral in the handling and manufacturing of strong metallic components, which makes them applicable in the manufacturing sector, leading to a heightened growth of the global machining centres market.

Machining centres are widely applied across industries such as automotive, aerospace, and power generation, among others. Machining centres are crucial in the automotive sector to facilitate various automotive operations including dying of components, grinding and drilling of engine components, and manufacturing various parts of an automobile. Hence, the thriving automotive industry, across the growing economic nations, is fuelling the demand for the product.

The growing research and development activities in the aerospace industry are further improving the machining centres market dynamics. In addition to this, the production of innovative and upgraded military and commercial aircrafts is getting fuelled owing to the increasing living standards, rapid urbanisation, and escalating geopolitical concerns. On top of this, the high-precision manufacturing is gaining traction in the aerospace industry, which is further increasing the demand for machining centres, owing to the savings on time and money offered by it.

Machining centres are also witnessing a heightened demand from the construction and agriculture industry, which can be attributed to the technological advancements and sophistication of the equipment used in these industries. Machining centres are capable of handling heavy metallic equipment with great precision and accuracy.

Furthermore, the growth of the machining centres market is being aided by the increasing investments by the major market players aimed towards upgrading the machining centres. The induction of machining centres with a combination of five axis, two axes of rotation and standard three axes, is one such example of latest innovation.

Market Segmentation

The market can be divided into the following segmentations.

Market Breakup by Type

• Horizontal Machining Centre
• Vertical Machining Centre
• Others

Market Segmentation by Application

• Automotive
• Aerospace
• Construction and Agriculture
• General Engineering (Fluid Power)
• Oil and Energy
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• JTEKT Corporation
• FANUC Corporation
• Yamazaki Mazak Corporation
• FFG European and American Holdings GmbH
• Makino Milling Machine Co., Ltd.
• Okuma Corporation
• Others

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.