The portable milling machine market is poised to expand at a CAGR of 4.7% throughout the forecast period (2023 to 2033). Demand in the market is likely to increase from USD 1,178.2 Million in 2023 to USD 1,865.0 Million by 2033. At the end of 2022, the market reached a value of USD 1,125.3 Million, and in 2023, it is anticipated to rise by 4.2% year-on-year (Y-o-Y).
A portable milling machine is a great addition to any restaurant and hotel. This type of machine is perfect for small to medium sized operators and easy to carry. Portability of this machine makes it ideal for those who have limited space in their working areas.
Portable coffee milling machine and portable flour milling machine are two of the most used portable milling machines in the market. Increasing demand for these machines for performing several tasks such as turning, filet making, slot cutting, facing, and chamfering is anticipated to drive the global market in the next ten years.
Consequently, surging out-of-home consumption at restaurants and cafes, as well as rapid expansion of the foodservice industry worldwide would bode well for the global market. High demand for ready-to-eat and packaged food items on the back of rising per capita income and changing lifestyles is another crucial factor that would spur portable milling machines demand.
Various international fast food outlets are also expected to enter developing countries like India, China, and Brazil in the forecast period, thereby propelling the need for portable milling machines. In January 2022, for instance, Jubilant FoodWorks Limited (JFL), an India-based food service company, introduced Popeyes, a renowned United States-based fried chicken brand in the country.
Similarly, in September 2022, Figaro’s Pizza, an American multinational quick service restaurant chain, expanded its geographic presence by launching outlets in India by joining hands with Delphinus Foods Pvt Ltd. New menus based on the Indian taste palate are projected to be introduced soon. Such expansion plans by key companies are anticipated to help the global portable milling machine sector to flourish.
| Attributes | Key Insights |
|---|---|
| Global Portable Milling Machine Market Estimated Size (2023E) | USD 1,178.2 Million |
| Projected Market Valuation (2033F) | USD 1,865.0 Million |
| Value-based CAGR (2023 to 2033) | 4.7% |
| Share of the United States in Portable Milling Machine Industry | 34.2% |
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During the historical period (2018 to 2022), the global market for portable milling machines exhibited a moderate CAGR of 4.2%. The market expanded from USD 954.6 Million in 2018 to USD 1,125.3 Million in 2022, says a new report by Future Market Insights.
The global market for portable milling machines is expected to witness significant growth in the next ten years. Key drivers of this market are increasing demand for portable milling machines from the HoReCa industry and growing demand for refurbished milling machines in underdeveloped nations.
Growing trend for using refurbished machinery is also acting as a driver for growth in this market. Refurbished portable milling machines are available at a fraction of cost of new machines and offer similar performance rates.
Numerous factors have been identified to stir the soup in the market for portable milling machines. Apart from the burgeoning aspects triumphing in the industry, lead analysts at Future Market Insights have scrutinized the future challenges, restraints, growth opportunities, and driving factors that can influence the portable milling machine market.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
HoReCa Sector in the United States to Look for Unique Portable CNC Milling Machines
Growth in the portable milling machine industry is expected to continue to expand in the United States at a healthy rate in the next ten years. This growth will be mainly driven by the continuous expansion of the hotel/restaurant/catering (HoReCa) industry, as well as increasing popularity of these machines for residential use. The portable milling machine market is set to receive nearly 34.2% of its total income from the United States
Increasing Demand for Ready-to-eat Food Items to Spur Sales of Portable Magnetic Milling Machines in the United Kingdom
The portable milling machine market in the United Kingdom is developing rapidly. With increasing demand for ready-to-eat food items, milling machines are becoming an essential part of the HoReCa industry across the nation. Portable milling machines offer a versatile solution for a wide variety of applications, and can be used in both horizontal and vertical orientations. The United Kingdom is projected to exhibit a CAGR of 6.4% over the assessment period, while Germany is anticipated to generate a share of around 22.8% across Europe.
Growing Presence of Fast Food Chains in China, India, and Japan to Fuel Demand for Portable Magnetic Milling Machines
The market for portable milling machines is expanding rapidly in Asia Pacific. Significant drivers of this growth are expansion of the HoReCa industry and high demand for mass production of numerous goods such as fast food.
Portable milling machines offer high precision and accuracy, and are easy to operate. Asia Pacific region is expected to witness the impressive growth rate due to the presence of numerous HoReCa chains in countries such as China, India, and Japan.
India and China are the market leaders in Asia Pacific, and their most recent CAGRs in the portable milling machine industry are 6.4% and 6.4%, respectively. Japan, on the other hand, is set to contribute to around 3.8% of the market's overall share.
Restaurants, Hotels, and Cafes to Extensively Utilize Portable Steel Milling Machines
The food and beverage industry is one of the most competitive industries in the world. In order to stay ahead of the competition, leading companies are always looking for new and innovative ways to increase efficiency and productivity. One of the latest trends in this industry is the use of portable milling machines.
Portable milling machines are compact and lightweight, making them ideal for use in restaurants, hotels, and cafes. They can be used to quickly and easily mill ingredients, thereby saving time and money. Additionally, they can be used to create customized products, providing key companies with a competitive edge.
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The global portable milling machine industry is highly fragmented in nature with the presence of several small and medium-sized manufacturers. Competitive landscape of the market is expected to intensify in the next ten years with the entry of various new players.
Leading players in the market are focusing on expanding their product portfolios and geographical reach to gain a competitive edge. For instance, Ingersoll Rand plc, a renowned company in the market, acquired Schlemmer GmbH, a Germany-based firm that manufactures products for the automotive industry. This acquisition will help Ingersoll Rand plc. to expand its product portfolio and strengthen its foothold in Europe.
Several other key players operating in the global market for portable milling machines are Krones AG, GEA Group AG, Alfa Laval AB, and Tetra Pak International S.A. among others.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 1,178.2 Million |
| Projected Market Valuation (2033) | USD 1,865.0 Million |
| Value-based CAGR (2023 to 2033) | 4.7% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD Million) |
| Key Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Key Countries Covered | United States, Canada, Mexico, Germany, United Kingdom, France, Russia, Brazil, Argentina, Japan, Australia, China, India, Indonesia, South Korea |
| Key Segments Covered | Type, Application, Region |
| Key Companies Profiled | Ingersoll Rand plc.; Krones AG; GEA Group AG; Alfa Laval AB; Tetra Pak International S.A.; Romaco Group; Nichrome Packaging Solutions; Nalbach Engineering Company; Allfill Inc.; PAXIOM |
| Report Coverage | Strategic Growth Initiatives, DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, and Competitive Landscape |
The global portable milling machine industry is likely to reach a valuation of USD 1,178.2 Million by the end of 2023.
The United States portable milling machine industry is set to capture nearly 34.2% of share and would be valued at around USD 403.0 Million in the forecast period.
The United States, Canada, Mexico, Argentina, Brazil, Germany, United Kingdom, France, Italy, Russia, Spain China, Japan, India, Indonesia, South Korea, and Australia are the key countries driving demand for portable milling machines.
The Germany portable milling machine industry is set to hold a share of around 22.8% and would be valued at USD 268.6 Million in the assessment period.
Ingersoll Rand plc., Krones AG, GEA Group AG, Alfa Laval AB, and Tetra Pak International S.A. are the top 5 companies operating in the market for portable milling machines.
The Japan portable milling machine industry is expected to generate a share of around 3.8% in the next ten years.
India portable milling machine industry is estimated to surge at 6.4% CAGR between 2023 and 2033.
The global portable milling machine industry is likely to surpass USD 1,865.0 Million by the end of 2033.
| Expected Market Value in 2023 | USD 50 billion |
|---|---|
| Projected Market Value in 2033 | USD 100 billion |
| Growth Rate (2023 to 2033) | 7.1% CAGR |
| Market Size Value in 2023 | USD 1,232.2 million |
|---|---|
| Market Forecast Value in 2033 | USD 1,806.5 million |
| Growth Rate (2023 to 2033) | 3.9% CAGR |
| Market Size Value in 2023 | USD 1,232.2 million |
|---|---|
| Market Forecast Value in 2033 | USD 1,895.3 million |
| Market Anticipated CAGR (2023 to 2033) | 4.4% |
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