The global milling machine market is expected to register a valuation of USD 68,303.3 million by 2023. From 2023 to 2033, the market is slated to expand at a slow but steady CAGR of 4.9%. The market value is projected to increase to USD 110,203.8 million by 2033.
Milling machines are versatile tools that can be used for a variety of purposes. They are primarily used for grinding and cutting materials to create work components in a variety of industries such as automotive, aerospace, and food processing and production. They are mostly used for creating metal components, but they are compatible with other materials as well, such as aluminum and plastic.
Milling machines are classified into vertical and horizontal machines. Both product types offer unique benefits. For instance, vertical machines are known for their versatility and functionality as they offer easy maneuvering and adjusting for creating diverse shapes. Additionally, vertical machines are low maintenance. On the other hand, horizontal machines are known for quick milling and creating smooth finishes.
In the automotive industry, milling machines are commonly used for creating and modifying components such as body panels, custom engine parts, brake rotors, cylinder heads, and engine blocks. Seat frames, side panels, and control panels for the aerospace industry are typically created by milling aluminum.
In food processing and production, they offer efficiency and effectiveness when it comes to processing various types of grains such as wheat, corn, rice and oats. They are also used to process other food products, such as flour and spices.
In a study conducted by the United States Department of Agriculture’s Economic Research Service, it was found that per person availability of corn products soared in the United States from 21.8 pounds in 1989 to 36.5 pounds in 2019. The same study found the per person availability of wheat flour to be 131.1 pounds in 2019. In a May 2022 cereal supply and demand brief published by the United Nations’ Food and Agriculture Organization (FAO), global wheat production was estimated to be 782 million tons in 2022/2023.
All these industries are anticipated to expand substantially in the coming years based on Future Market Insights (FMI) estimates. Their expected expansion is indicative of greater demand for milling machines during the (2023 to 2033) forecast period. Milling machine manufacturers have also been focusing on their research and development efforts to offer more innovative products for enhancing efficiency and product quality. This trend is likely to continue and result in technological innovations and advancements.
For instance, in August 2020, DATRON Dynamics announced the launch of the MXCube in North America. At the time, this new computerized numerical control (CNC) machine was considered one of the best in the business for milling high tolerance parts precisely and efficiently.
| Attributes | Key Insights |
|---|---|
| Milling Machine Market Estimated Size (2023E) | USD 68,303.3 million |
| Projected Market Valuation (2033) | USD 110,203.8 million |
| Value-based CAGR (2023 to 2033) | 4.9% CAGR |
| Market Share of United States | 32.7% |
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There is no denying that the global milling machine market has seen plenty of ups and downs over the past few years, mainly due to the pandemic. During the 2017 to 2022 historical period, FMI observed a modest 4.5% CAGR. However, FMI anticipates a reversal of this historical trend during the forecast period. Future projections for the global milling machine market are far more optimistic than the current historical outlook.
One of the key reasons for this optimism is the expected growth in demand from Asia. China and India are both forecast to see significant increases in their demand for mill machines over the next few years. This is due to their growing economies and expanding manufacturing sectors.
Another reason for optimism is the increasing focus on environmental sustainability. More and more companies are looking for ways to reduce their impact on the environment. This is likely to lead to an increase in demand for mill machines that are designed to be more energy-efficient.
CNC machines are set to emerge as the most popular milling machines due to the high degree of customization they offer. However, compared to manual machines, they are significantly more expensive. Manual machines are expected to be prominent as well, particularly in economically affected areas of the world where affordability is a concern.
FMI’s expert analysts have assessed multiple telling trends and crucial factors that are poised to fuel demand and sales for the milling machine market. As a result, growth drivers, emerging opportunities, restraints, and potential threats have been identified.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
Technological Advancements Fueling Demand for Milling Machines In The United States
As the world progresses, so does the technology used in manufacturing industries. The United States market for milling machines is constantly growing as the demand for these machines increases. There are several factors that are contributing to this demand such as an increase in production, new technologies and a general change in the way products are being made.
Milling machines are now able to perform tasks that were once done by hand, which has made them indispensable in numerous industries. The accuracy and precision of milling machines has also greatly improved, making them even more versatile than before. As a result of all these factors, the demand for milling machines in the USA. Right now, the United States market is estimated to have a 32.7% share in the global market.
Local Players to Dominate India Market for Milling Machines Due to Government Initiatives
The Indian economy is on the upswing and this has created a demand for milling machines. There are several manufacturers who are now supplying these machines and there is a good opportunity for the use of products made in India. Companies emerging in the Indian market include Bezen Tools and Precision Metal Works.
In 2020, the Indian Government’s Ministry of Commerce & Industry amended the Public Procurement (Preference to Make in India) Order, 2017 for encouraging India-based production and manufacture to enhance employment and income. The Indian government is also encouraging the use of local products and this is creating a good environment for the expansion of the milling machine market during the forecast period.
Strong Presence of Manufacturers and Government Incentives to Propel Milling Machines Sales in Germany
In recent years, Germany has emerged as a dominant force in the European market for milling machines. This is due to a variety of reasons. For starters, several world's top manufacturers of milling machines are based in Germany such as WIRTGEN GROUP and Deckel Maho Seebach GmbH. Additionally, German companies have access to advanced technology and own several key assets needed to produce these machines.
As a result, German companies are able to produce high-quality mill machines at a lower cost than their competitors. In addition, the German government provides significant financial incentives for companies that produce mill machines in Germany. These factors are poised to contribute to Germany's dominance in the Europe market for milling machines from 2023 to 2033.
Low Labor Costs to Encourage Investments and Drive Market for Milling Machines in China
As the world’s largest country by population, China also has vast reserves of natural resources and a long history of manufacturing. These two factors have made China an attractive market for foreign companies looking to set up or expand their own manufacturing operations.
In recent years, China has made significant strides in advancing its technology and infrastructure, making it an even more attractive destination for manufacturers. With wages rising in other countries, China’s low labor costs are another key factor that is driving companies to set up shop there.
There are still challenges that manufacturers face in China, such as intellectual property theft and regulatory hurdles. However, overall, the country is emerging as a high-potential market for the manufacturing of mill machines and other products.
Affordability and Compactness to Drive Sales of Vertical Mill Machines from 2023 to 2033
Vertical milling machines are expected to become more popular compared to horizontal milling machines during the forecast period. The main advantage of a vertical milling machine over a horizontal one is that it takes up less floor space. This is an important consideration for small businesses or anyone who has limited workshop space. Additionally, vertical milling machines are generally more affordable than their horizontal counterparts.
Another advantage of vertical milling machines is that they tend to be easier to operate than other types of milling machines. This is due to the fact that the operator sits in front of the machine, rather than behind it as is the case with a horizontal milling machine. This position gives the operator better visibility and access to the controls, making it simpler to perform intricate cuts and shapes.
High Production Output and Customized Cutting Ability to Fuel Demand for Horizontal Milling Machines During the Forecast Period
A horizontal milling machine has the potential to offer more benefits than a vertical milling machine in certain applications. One of the most significant advantages is increased production output. When more work pieces can be machined in a shorter amount of time, it can lead to increased efficiency and productivity in a manufacturing setting.
Another advantage of a horizontal milling machine is the ability to change cutting directions on the fly. This can be beneficial when machining complex parts that require different orientations to optimize functionality or aesthetics. Additionally, horizontal machines often have larger work envelopes than vertical machines, which allows for greater flexibility in component design.
Increasing Use of Milling Machines across Multiple Industries for Accuracy And Efficiency Poised to Bolster Market Expansion
Milling machines are used across industries such as automotive, metal fabrications, packaging, aerospace, oil and gas, and electronics. The machines are used to shape and fabricate components.
For example, in the packaging industry, milling machines are used to ensure that packaging products offer better safety and grip. In the aerospace sector, complex work components are mostly created through the use of milling machines.
The competitive landscape in the global market for milling machines is likely to get more and more fragmented during the forecast period. This is due to the emergence of local players who are providing stiff competition to reputed international names. FMI expects product innovations in the years ahead as manufacturers compete to offer milling machines with more convenient and powerful features.
Key players in the market profiled include Datron Dynamics Inc., Yamazaki Mazak Corporation, Amera-Seiki Corporation, Hass Automation Inc., Anderson Europe GMBH, Hurco Companies Inc., EMCO Group, and Okuma Corporation.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 68,303.3 million |
| Projected Market Valuation (2033) | USD 110,203.8 million |
| Value-based CAGR (2023 to 2033) | 4.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | Value (USD million) |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; Middle East & Africa |
| Key Countries Covered | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, United Arab Emirates(UAE) |
| Key Segments Covered | Product Type, Application, Distribution channel, Region |
| Key Companies Profiled | Datron Dynamics Inc.; Yamazaki Mazak Corporation; Amera-Seiki; Hass Automation, Inc.; Anderson Europe GMBH; Hurco Companies; EMCO Group; Okuma Corporation; Buhler Group; CPM Roskamp Champion; ANDRITZ Group; Sprout Waldron & Company |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is estimated to secure a valuation of USD 68,303.3 million in 2023.
The market is predicted to record a CAGR of 4.9% through 2033.
Growing consumer demand for top-notch products is estimated to fuel milling machine sales in the projected timeframe.
Vertical mills remain the most preferred segment in the milling machine market.
Datron Dynamics Inc., Yamazaki Mazak Corporation, and Amera-Seiki are the manufacturers.
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Milling Machine Market
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