The global machining centres market a value of USD 26,051 million in 2021. Aided by the growing demand for machining centres across industries such as automotive and aerospace, the market is projected to further grow at a CAGR of 7.44% between 2022 and 2027 to reach a value of USD 40,184 million by 2027.
Machining centres are defined as the mechanical components which facilitate the machining operations across the industrial sector. These operations include milling, boring, and threading, among others. Machining centres are known to be integral in the handling and manufacturing of strong metallic components, which makes them applicable in the manufacturing sector, leading to a heightened growth of the global machining centres market.
Machining centres are widely applied across industries such as automotive, aerospace, and power generation, among others. Machining centres are crucial in the automotive sector to facilitate various automotive operations including dying of components, grinding and drilling of engine components, and manufacturing various parts of an automobile. Hence, the thriving automotive industry, across the growing economic nations, is fuelling the demand for the product.
The growing research and development activities in the aerospace industry are further improving the machining centres market dynamics. In addition to this, the production of innovative and upgraded military and commercial aircrafts is getting fuelled owing to the increasing living standards, rapid urbanisation, and escalating geopolitical concerns. On top of this, the high-precision manufacturing is gaining traction in the aerospace industry, which is further increasing the demand for machining centres, owing to the savings on time and money offered by it.
Machining centres are also witnessing a heightened demand from the construction and agriculture industry, which can be attributed to the technological advancements and sophistication of the equipment used in these industries. Machining centres are capable of handling heavy metallic equipment with great precision and accuracy.
Furthermore, the growth of the machining centres market is being aided by the increasing investments by the major market players aimed towards upgrading the machining centres. The induction of machining centres with a combination of five axis, two axes of rotation and standard three axes, is one such example of latest innovation.
Machining centres are defined as the mechanical components which facilitate the machining operations across the industrial sector. These operations include milling, boring, and threading, among others. Machining centres are known to be integral in the handling and manufacturing of strong metallic components, which makes them applicable in the manufacturing sector, leading to a heightened growth of the global machining centres market.
Machining centres are widely applied across industries such as automotive, aerospace, and power generation, among others. Machining centres are crucial in the automotive sector to facilitate various automotive operations including dying of components, grinding and drilling of engine components, and manufacturing various parts of an automobile. Hence, the thriving automotive industry, across the growing economic nations, is fuelling the demand for the product.
The growing research and development activities in the aerospace industry are further improving the machining centres market dynamics. In addition to this, the production of innovative and upgraded military and commercial aircrafts is getting fuelled owing to the increasing living standards, rapid urbanisation, and escalating geopolitical concerns. On top of this, the high-precision manufacturing is gaining traction in the aerospace industry, which is further increasing the demand for machining centres, owing to the savings on time and money offered by it.
Machining centres are also witnessing a heightened demand from the construction and agriculture industry, which can be attributed to the technological advancements and sophistication of the equipment used in these industries. Machining centres are capable of handling heavy metallic equipment with great precision and accuracy.
Furthermore, the growth of the machining centres market is being aided by the increasing investments by the major market players aimed towards upgrading the machining centres. The induction of machining centres with a combination of five axis, two axes of rotation and standard three axes, is one such example of latest innovation.
Market Segmentation
The market can be divided into the following segmentations.Market Breakup by Type
- Horizontal Machining Centre
- Vertical Machining Centre
- Others
Market Segmentation by Application
- Automotive
- Aerospace
- Construction and Agriculture
- General Engineering (Fluid Power)
- Oil and Energy
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Others
Competitive Landscape
This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies. Some of the major key players explored in the report are as follows:- JTEKT Corporation
- FANUC Corporation
- Yamazaki Mazak Corporation
- FFG European and American Holdings GmbH
- Makino Milling Machine Co., Ltd
- Okuma Corporation
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Machining Centres Market Analysis
9 North America Machining Centres Market Analysis
10 Europe Machining Centres Market Analysis
11 Asia Pacific Machining Centres Market Analysis
12 Latin America Machining Centres Market Analysis
13 Middle East and Africa Machining Centres Market Analysis
14 Market Dynamics
15 Trade Data Analysis (HS Code - 8457)
16 Competitive Landscape
Companies Mentioned
- JTEKT Corporation
- FANUC Corporation
- Yamazaki Mazak Corporation
- FFG European and American Holdings GmbH
- Makino Milling Machine Co., Ltd.
- Okuma Corporation
Methodology
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