Global Machining Centres Market Report and Forecast 2023-2028

Global Machining Centres Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global machining centres market attained a value of USD 28066 million in 2022. Aided by the rising demand for precision engineering and the adoption of automation in manufacturing processes, the market is projected to further grow at a CAGR of 8.1% between 2023 and 2028 to reach a value of USD 43175 million by 2028.

Machining centres are specialised machines used for automated, precise and rapid cutting, drilling, milling and other operations in various industries, such as automotive, aerospace, and electronics, among others. These centres are designed to perform multiple operations on a workpiece in a single setup, ensuring high productivity and reduced cycle times. Machining centres are available in various configurations, including vertical, horizontal, and universal, catering to the diverse needs of the end-use industries. The increasing demand for advanced and accurate machining solutions to enhance productivity and efficiency is driving the growth of the machining centres market. As industries strive for cost reduction and improved performance, the adoption of machining centres has gained traction. These machines help in the production of complex parts, which require high precision and accuracy. Furthermore, the automation features offered by these machines eliminate the need for manual intervention, reducing the chances of human error and increasing the overall output.

The integration of advanced technologies, such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT), is also positively impacting the machining centres market. These technologies enable real-time monitoring, predictive maintenance, and optimisation of the machining processes, resulting in higher productivity and reduced downtime. As industries continue to adopt advanced technologies, the demand for smart machining centres is expected to witness significant growth in the coming years.

Another key trend propelling the growth of the machining centres market is the rapid industrialisation in developing countries, such as India and China. As these economies continue to grow, the demand for advanced manufacturing equipment and technologies is on the rise. The expansion of various end-use industries, including automotive, aerospace, and electronics, is creating a significant demand for machining centres to cater to the increasing production needs. Additionally, the growing focus on green and sustainable manufacturing practices has led to the development of energy-efficient machining centres. These machines consume less energy, produce fewer emissions, and reduce waste generation, thus contributing to a cleaner environment. The increasing adoption of energy-efficient machining centres is expected to further fuel the growth of the machining centres market.

Market Segmentation

The market can be divided on the basis of type, application, and region.

Market Division by Type:

• Horizontal Machining Centre
• Vertical Machining Centre
• Others

Market Breakup by Application:

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

Market Segmentation by Region:

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the machining centres 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

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