What Has Been the Growth of the Machining Centers Market So Far?
The machining centers market has seen considerable growth due to a variety of factors.
• The market size of machining centres has seen robust growth in the recent past. Expectations are for it to expand from $28.17 billion in 2024 to $29.94 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The historical growth can be credited to the need for components of high accuracy, extensive production needs, adaptable manufacturing systems, decrease in preparation time, internationalization of manufacturing, investments in the energy sector and a strong emphasis on quality assurance.
What Is the Forecasted Market Size and Growth Rate for The Machining Centers Market By 2029?
The Machining Centers market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of machining centres is anticipated to experience substantial growth in the forthcoming years. The estimated growth is to reach $38.4 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%.
This predicted growth during the forecast period is credited to factors like custom manufacturing, enhanced productivity, initiatives towards smart manufacturing, requirements for energy efficiency, worldwide infrastructure development and advanced control systems. The forecast period could see dominant trends like automation and robotics, high-velocity machining, multi-purpose machining centres, incorporation of additive manufacturing, digital twin technology, state-of-the-art tooling technologies, remote monitoring and upkeep, and a focus on creating user-friendly interfaces.
What Factors Are Driving Growth In The Machining Centres Market?
The surge in automation and robotics within the manufacturing industry is anticipated to spur the expansion of the machining centers market. This industry is associated with the production and processing of raw materials such as steel, iron, and plastic into finished goods. Machining centers, valued for their automation capabilities, are pivotal tools within this sector. For instance, a World Robotics report published by the International Federation of Robotics, a professional non-profit organization based in Germany, revealed that in September 2023, the number of industrial robot installations in factories around the globe was 553,052. This demonstrates a 5% year-on-year growth rate in 2022. Consequently, the escalating implementation of automation and robotics in the manufacturing field is propelling the growth of the machining centers market.
What Are The Main Segments Of The Global Machining Centres Market?
The machining centers market covered in this report is segmented –
1) By Type: Horizontal Machining Center, Vertical Machining Center, Other Types
2) By Distribution Channel: Direct Sales, Third-Party Sales
3) By Application: Automotive, Aerospace, Construction And Agriculture, Fluid Power, Oil And Energy, Other Applications
Subsegments:
1) By Horizontal Machining Center (HMC): Single-Spindle HMC, Multi-Spindle HMC, Twin-Spindle HMC
2) By Vertical Machining Center (VMC): 3-Axis VMC, 4-Axis VMC, 5-Axis VMC, Mini VMC
3) By Other Types: Multi-Tasking Machines, CNC Lathes, Turn-Mill Centers, Gantry Machining Centers
Pre-Book The Machining Centres Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Machining Centres Market?
Leading firms in the machining centers market are channeling their efforts towards the development of novel products like vertical machining centers, with the aim of increasing revenue for their businesses. The vertical machining center, or VMC, is a type of computer numerical control (CNC) machine that features a spindle with vertical alignment, ensuring high-precision and efficiency in the machining of various materials, specifically metals. For example, in September 2022, Makino Inc., a US-based company specializing in advanced CNC machining centers, introduced the Slim3n. This device boasts a stable, fixed table measuring 23.6" x 15.7", with the ability to hold up to 881 pounds, making it ideal for larger workpieces. Its closed frame structure, improved through Finite Element Analysis (FEA), enhances torsional stiffness, thereby elevating its performance. It comes with a 16,000 rpm HSK-A50 spindle, with the option for 8,000 rpm for augmented torque, and can withstand substantial radial forces during the milling process. The Slim3n is designed to work with either manual or automated material handling systems, incorporating conveyors and robotic solutions.
Who Are the Key Players In The Machining Centres Market?
Major companies operating in the machining centers market include:
• AceMicromatic Group
• Amera-Seiki Corp.
• CHIRON Group SE
• DMG Mori Co. Ltd.
• Doosan Machine Tools Co. Ltd.
• Fanuc Corporation
• FFG European & American Holdings GmbH
• Haas Automation Inc.
• Hurco Companies Inc.
• Jiuh-Yeh Precision Machinery Co. Ltd.
• JTEKT Corporation
• Jyoti CNC Automation Limited
• Kent CNC
• Komatsu NTC Ltd.
• Makino Inc.
• Matsuura Machinery Corporation
• Maxmill Machinery Co. Ltd.
• Mazak Corporation
• Mitsubishi Electric Corporation
• MTAB Engineers Private Limited
• Okuma America Corporation
• SCM GROUP S.p.A.
• Siemens AG
• The Hyundai Wia Corporation
• Yamazaki Mazak Corporation
• Yeong Chin Machinery Industries Co. Ltd.
• Hornet Cutting Systems LLC
• Davenport Machine Inc.
• Emmegi SPA
• Tsugami-Rem Sales LLC
• Detroit Edge Tool Company
• TruCut Fabricators Co.
• BLM Group USA Corp.
• HowesTemco a div. of NN Inc.
• Elektriska Svetsnings-Aktiebolaget
• Doosan Corp.
• Toyoda Gosei Co. Ltd.
• Hermle AG
• GROB-WERKE GmbH & Co. KG
What Is The Most Dominant Region In The Machining Centres Market?
Asia-Pacific was the largest region in the machining centers market share in 2024. The regions covered in the machining centers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
