Milling Machines Market
Milling Machines Market Analysis, By Type (Horizontal, Vertical), By End Use (Industrial, Power & Energy, Automotive, Aerospace & Defense, Other End Uses), & Region - Global Market Insights 2023 to 2033
Analysis of Milling Machines Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Milling Machines Market Growth Outlook 2023 to 2033
The global milling machines market is valued at US$ 7.5 billion in 2023 and is likely to touch US$ 13 billion by 2033, expanding at a steady CAGR of 5.6% during the forecast period (2023 to 2033).
For ages, milling machines have been one of the most important and popular machine tools that have been consistently improved. Milling machines are used to carve out the required shape by removing metal from the workpiece's surface.
They are used to shape and size metal or other materials using revolving cutters or tools that rotate about an axis parallel to the surface of the workpiece while moving perpendicularly over it.
Rapidly expanding global metalworking industry and a significant increase in metalworking facilities worldwide have fueled the demand for milling machines in recent years.
Milling machines are incredibly versatile and can execute a wide range of tasks such as chamfering, turning, drilling, gear cutting, facing, and slot cutting. By installing numerous cutters, these machines can make multiple cuts at the same time.
Milling machines can also accommodate other tools, such as fluted, rounding, and ball-end mills. Milling machines are useful for machining metal parts in industries such as aerospace and defense and automotive.
Numerous milling machine makers are implementing CNC (computer numerical control) technology to improve the quality and productivity of the work performed by milling machines by employing the same tools and programs to generate many parts.
CNC machining has become critical for the manufacturing industry and is quickly becoming a popular technique for precision-machining metal parts. CNC machining is a precise automation technique capable of producing high-quality metal items without the need for human intervention.
Moreover, the incorporation of CAD and CAM software into CNC machines gives additional benefits such as reduced machining time and improved workflow. Furthermore, the development of compact machine tools that require less floor space is gathering steam in the industrial manufacturing sector.
Automation and multi-axis machining are two of the market's most significant trends. Companies increasingly prefer multi-axis machining equipment to produce high-quality metal parts in shorter periods.
5-axis and 6-axis milling machines are gaining popularity in the worldwide market. While 5-axis machines have significantly impacted the metal processing industry by cutting turnaround time, decreasing waste, and improving efficiency, 6-axis machines have the potential to alter machining processes and operations completely.
Moreover, the increased need for high-quality fabricated metal goods from defense and aerospace, as well as automotive, is creating new opportunities for developing new and innovative multi-axis machine tools.
| Report Attributes | Details |
|---|---|
| Milling Machines Market Size in 2023 | US$ 7.5 Billion |
| Projected Market Value (2033) | US$ 13 Billion |
| Global Market Growth Rate (2023 to 2033) | 5.6% CAGR |
| Asia Pacific Market Share (2022) | 40% |
| Vertical Milling Machines Segment Growth Rate (2023 to 2033) | 4% CAGR |
| Key Companies Profiled | Amera-Seiki; DATRON Dynamics, Inc; Doosan Machine Tools; ANDERSON EUROPE GMBH; Haas Automation, Inc; Baileigh Industrial Holdings LLC; FANUC CORPORATION; Benign Enterprise co; Hurco Companies, Inc; CHIRON Werke GmbH & Co. KG; DMG Mori Seiki Co., Ltd; EMCO Group |
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Why is the Popularity of Milling Machines Rising Steadily?
“Increasing Demand to Lower Operating Costs and Boost Productivity”
Growing demand from end-users is pushing industries to improve their manufacturing processes. Companies are striving for lower operational costs as the manufacturing process becomes more complex, boosting the demand for milling machines. Milling machines produce high-quality goods in less time, assisting companies in lowering costs and decreasing waste.
Furthermore, cold milling machines are rapidly being employed in industrial manufacturing since they give varied functionalities when necessary for multiple applications.
“Rising Need for Customized Mass Production”
Milling machines manufacture customized items in large quantities. The consumer market is seeking products that stand out and have the most recent hardware and technology. This has led to an increased and continuous manufacturing process for numerous industries such as automobiles, electronics, general manufacturing, and so on.
Furthermore, companies want to seize every opportunity to enhance their market share, so they are searching for continual development in their production facilities to raise output. Moreover, the connected industry, industry 4.0, robotics, and automation are highlighting the need for firms to have an automated manufacturing process, which is increasing the demand for milling machines.
What Can Limit Sales Growth of Milling Machine Manufacturers?
“High Installation and Maintenance Costs”
Milling machines are an important part of the machine tools market, despite the fact that they only do limited milling tasks like lathe, drill, and so on. Due to this limitation, industries are forced to install additional machines, raising the capital investment required.
Furthermore, different machines have irregular wear and tear cycles, which results in higher maintenance costs for the company. Other types of machine tools, such as machining centers, perform a variety of operations, including milling; as a consequence, customers prefer machining centers over milling machines. These factors are anticipated to limit sales growth.
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Country-wise Insights
Why are Japan and South Korea Major Markets in Asia Pacific?
The demand for milling machines in Asia Pacific is escalating due to the increased popularity of metal cutting in the region. Asia Pacific accounted for 40% of the market for milling machines in 2022.
The demand for milling machines in Asia Pacific is fueled by factors such as greater knowledge regarding energy-efficient manufacturing processes, rapid industrialization, and a rise in economically developing countries. Furthermore, important businesses are concentrating their efforts on developing manufacturing facilities in Asia Pacific since the region offers low-cost labor, land, and expenses.
Japan and South Korea are major markets in Asia Pacific due to the existence of several manufacturing industries in these countries. Moreover, the demand for milling machines is growing in Japan and South Korea due to the increased need for high-output products with reduced downtime.
How is Germany Contributing to Increasing Sales of Milling Machines in Europe?
The Europe milling machine market is estimated to grow significantly during the forecast period. The region is concentrating on the development of energy-efficient milling equipment and a technologically advanced product line.
Germany is boosting the market growth in Europe due to the increasing adoption of milling machines by German automotive manufacturers.
Why is the United States Likely to Remain Dominant in North America?
Demand for milling machines in North America is increasing. The United States dominated the North American market and is expected to continue during the study period.
The demand for milling machines in the United States is growing owing to the usage of these machines for industrial applications, where they are deployed to manufacture components effectively.
Category-wise Insights
Why is Demand for Vertical Milling Machines Gaining Traction?
Demand for vertical milling machines is projected to increase at a CAGR of 4% from 2023 to 2033.
A vertical milling machine is usually made up of a self-contained electric drive motor, a digital readout, a coolant system, and variable spindle speed. The vertically mounted cutter of a vertical milling machine is designed to rotate at varying speeds to change the fixed workpiece as needed.
Vertical milling machines are multipurpose and can drill larger diameter holes, eliminating the need for separate large-hole drilling equipment. The ability of these machines to be readily changed and maneuvered according to the desired shape ensures that the demand for vertical milling machines will grow significantly in the coming years.
Moreover, vertical milling machines are less complex than horizontal milling machines due to the one-piece tool head, which removes the requirement for complex gearing inside the vertical column.
To meet the increased demand from end consumers, the manufacturing industries are going through a revolutionary phase with the implementation of automated processes and industry 4.0. As a result, companies have installed innovative machines to ensure a constant and effective production process. These machines make the production process more efficient, structured, time-saving, and with fewer human errors.
Vertical milling machines are examples of such machines that enable firms to execute milling operations on various surfaces.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
The market for milling machines is extremely competitive due to the presence of various global and regional players. Major companies in the milling machines industry are employing various methods, such as regional and product portfolio expansion, to strengthen their market position.
Moreover, several startups are entering the worldwide market with innovative product offerings.
- Science Labs, a Canadian startup, makes a low-cost milling machine. LongMill, their CNC machine, has high-power NEMA 23 motors, an aluminum router mount, a Steel Z-axis motor mount plate, and multi-platform CAM software.
- Yamazaki Mazak launched the CV5-500 5-axis machining center and QTE Series turning machine in January 2022. Furthermore, in March 2022, the company released two vertical machines, the CVE-600 and VCN-700. These machines provide high precision, excellent performance, and low time consumption.
- CDI Energy Products is a market vendor and producer of high-performance polymer products. The company installed 5-Axis CNC milling equipment to increase its production rate and improve the market's automation-based solutions in April 2021.
- GF Machining Solutions LLC, a U.K.-based producer of die makers and targeted molds, debuted a three-axis vertical milling machine in March 2021. The product was launched in North America and will target consumers who demand a long-lasting and effective vertical milling machine. The product has an extended machining duration and higher productivity.
Key Segments of Milling Machines Industry Research
-
By Type :
- Horizontal Milling Machines
- Vertical Milling Machines
-
By End Use :
- Industrial
- Power & Energy
- Automotive
- Aerospace & Defense
- Other End Uses
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Type
- 9.1. Horizontal Milling Machines
- 9.2. Vertical Milling Machines
- 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End Use
- 10.1. Industrial
- 10.2. Power & Energy
- 10.3. Automotive
- 10.4. Aerospace & Defense
- 10.5. Other End Uses
- 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 15. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 17. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 19. Key and Emerging Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Amera-Seiki
- 21.2. DATRON Dynamics, Inc
- 21.3. Doosan Machine Tools
- 21.4. ANDERSON EUROPE GMBH
- 21.5. Haas Automation, Inc
- 21.6. Baileigh Industrial Holdings LLC
- 21.7. FANUC CORPORATION
- 21.8. Benign Enterprise Co
- 21.9. Hurco Companies, Inc
- 21.10. CHIRON Werke GmbH & Co. KG
- 21.11. DMG Mori Seiki Co., Ltd
- 21.12. EMCO Group
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 08: Latin America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 11: Europe Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 14: South Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 17: East Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 20: Oceania Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2018 to 2022
Figure 02: Global Market Volume Forecast (in 000' Units), 2023 to 2033
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 05: Global Market Value Analysis (US$ Mn), 2018 to 2022
Figure 06: Global Market Value Forecast (US$ Mn), 2023 to 2033
Figure 07: Global Market Absolute $ Opportunity, 2023 to 2033
Figure 08: Global Market Share Analysis (%), By Type, 2023 to 2033
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2023 to 2033
Figure 10: Global Market Attractiveness Analysis by Type, 2023 to 2033
Figure 11: Global Market Share Analysis (%), By End Use, 2023 to 2033
Figure 12: Global Market Y-o-Y Analysis (%), By End Use, 2023 to 2033
Figure 13: Global Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 14: Global Market Share Analysis (%), By Region, 2023 to 2033
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2023 to 2033
Figure 16: Global Market Attractiveness Analysis by Region, 2023 to 2033
Figure 17: North America Market Value Share, By Type, 2022 (E)
Figure 18: North America Market Value Share, By End Use, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 21: North America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 22: North America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 23: North America Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 24: North America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 25: Latin America Market Value Share, By Type, 2022 (E)
Figure 26: Latin America Market Value Share, By End Use, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 29: Latin America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 31: Latin America Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 32: Latin America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 33: Europe Market Value Share, By Type, 2022 (E)
Figure 34: Europe Market Value Share, By End Use, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2018 to 2022
Figure 37: Europe Market Value Forecast (US$ Mn), 2023 to 2033
Figure 38: Europe Market Attractiveness Analysis by Type, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis by Country, 2023 to 2033
Figure 41: South Asia Market Value Share, By Type, 2022 (E)
Figure 42: South Asia Market Value Share, By End Use, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 45: South Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 46: South Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 47: South Asia Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 48: South Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 49: East Asia Market Value Share, By Type, 2022 (E)
Figure 50: East Asia Market Value Share, By End Use, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 53: East Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 54: East Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 55: East Asia Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 56: East Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 57: Oceania Market Value Share, By Type, 2022 (E)
Figure 58: Oceania Market Value Share, By End Use, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2018 to 2022
Figure 61: Oceania Market Value Forecast (US$ Mn), 2023 to 2033
Figure 62: Oceania Market Attractiveness Analysis by Type, 2023 to 2033
Figure 63: Oceania Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 64: Oceania Market Attractiveness Analysis by Country, 2023 to 2033
Figure 65: Middle East and Africa Market Value Share, By Type, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By End Use, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2018 to 2022
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2023 to 2033
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2023 to 2033
Figure 71: Middle East and Africa Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2023 to 2033
Figure 73: U. S. Market Value Analysis (US$ Mn), 2023 & 2033
Figure 74: U. S. Market Value Share, By Type, 2022 (E)
Figure 75: U. S. Market Value Share, By End Use, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2023 & 2033
Figure 77: Canada Market Value Share, By Type, 2022 (E)
Figure 78: Canada Market Value Share, By End Use, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2023 & 2033
Figure 80: Mexico Market Value Share, By Type, 2022 (E)
Figure 81: Mexico Market Value Share, By End Use, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2023 & 2033
Figure 83: Brazil Market Value Share, By Type, 2022 (E)
Figure 84: Brazil Market Value Share, By End Use, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2023 & 2033
Figure 86: U. K. Market Value Share, By Type, 2022 (E)
Figure 87: U. K. Market Value Share, By End Use, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2023 & 2033
Figure 89: Germany Market Value Share, By Type, 2022 (E)
Figure 90: Germany Market Value Share, By End Use, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2023 & 2033
Figure 92: France Market Value Share, By Type, 2022 (E)
Figure 93: France Market Value Share, By End Use, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2023 & 2033
Figure 95: Italy Market Value Share, By Type, 2022 (E)
Figure 96: Italy Market Value Share, By End Use, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2023 & 2033
Figure 98: Spain Market Value Share, By Type, 2022 (E)
Figure 99: Spain Market Value Share, By End Use, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 101: Russia Market Value Share, By Type, 2022 (E)
Figure 102: Russia Market Value Share, By End Use, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2023 & 2033
Figure 104: China Market Value Share, By Type, 2022 (E)
Figure 105: China Market Value Share, By End Use, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2023 & 2033
Figure 107: Japan Market Value Share, By Type, 2022 (E)
Figure 108: Japan Market Value Share, By End Use, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2023 & 2033
Figure 110: South Korea Market Value Share, By Type, 2022 (E)
Figure 111: South Korea Market Value Share, By End Use, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2023 & 2033
Figure 113: India Market Value Share, By Type, 2022 (E)
Figure 114: India Market Value Share, By End Use, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2023 & 2033
Figure 116: ASEAN Market Value Share, By Type, 2022 (E)
Figure 117: ASEAN Market Value Share, By End Use, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 119: Australia Market Value Share, By Type, 2022 (E)
Figure 120: Australia Market Value Share, By End Use, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2023 & 2033
Figure 122: New Zealand Market Value Share, By Type, 2022 (E)
Figure 123: New Zealand Market Value Share, By End Use, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2023 & 2033
Figure 125: GCC Countries Market Value Share, By Type, 2022 (E)
Figure 126: GCC Countries Market Value Share, By End Use, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2023 & 2033
Figure 128: Turkey Market Value Share, By Type, 2022 (E)
Figure 129: Turkey Market Value Share, By End Use, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2023 & 2033
Figure 131: South Africa Market Value Share, By Type, 2022 (E)
Figure 132: South Africa Market Value Share, By End Use, 2022 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What was Asia Pacific's milling machines market share in 2022?
Asia Pacific accounted for 40% share of the global market in 2022.
How much is the milling machines market currently worth?
The global milling machines market is valued at US$ 7.5 billion in 2023.
What is the predicted growth rate for the market?
Demand for milling machines is expected to increase at a CAGR of 5.6% from 2023 to 2033.
What is the sales forecast for milling machines?
Worldwide sales of milling machines are estimated to hit US$ 13 billion by 2033.
At what CAGR is demand for vertical milling machines anticipated to rise?
Demand for vertical milling machines is likely to increase at a CAGR of 4% during the forecast period.
Who are the main players in the global milling machines market?
Amera-Seiki, DATRON Dynamics, Inc, Doosan Machine Tools, ANDERSON EUROPE GMBH, Haas Automation, Inc, Baileigh Industrial Holdings LLC, FANUC CORPORATION, Benign Enterprise co, Hurco Companies, Inc, CHIRON Werke GmbH & Co. KG, DMG Mori Seiki Co., Ltd, and
Milling Machines Market