CNC Milling Machines Market to Register CAGR of 5.8% Over the Forecast Period

Milling machine was handled manually or was mechanically automated; however, rapidly changing and addition of significant technologies and advancements in the field such as development and production of Computer Numerical Control (CNC) machines. CNC is integrated with different and new machines including CNC milling machine, and is widely used for molding and shaping metals as well as other solid substances.

“Global CNC Milling Machines Market (by Machine Type, Application, and Region/Country) Forecast: 2019 to 2028”, is a new published report by Market.us. The global CNC milling machines market is expected to reach a value of more than US$ 25 Billion in 2028, from around US$ 14 Billion in 2018, and register a growth rate of 5.8% over the 10-year forecast period.

Driver and Restraints: Global CNC Milling Machines Market

Rapid industrialization in various countries, and rising need to reduce costs related to operations, manpower, and decease number of errors is expected to lead to industrial automation and need for CNC machines. This is among the major factors expected to drive market growth. In addition, manufacturers are laying emphasis on adoption of technologically advanced machinery which is resulting in higher demand and adoption of CNC milling machines for manufacturing intricate components or models with a definitive finish. This trend is expected to gain traction and subsequently lead to more use and implementation of the CNC-based technology in milling, lathe, grinding, welding machines, and laser, among other applications. Integration of CNC milling machines along with Computer Aided Manufacturing (CAM) is expected to be instrumental in reducing human efforts as well as time required for producing work-pieces and enabling production without any hassle and with higher accuracy. Moreover, higher demand for technologically advanced and compact-size CNC machines with multi-axis technology to perform functions including drilling, cutting, knurling, facing, turning and deformation, among others is another major factor driving market growth.

Segment and Region Snapshot: Global CNC Milling Machines Market

By Type: The high torque CNC vertical milling segment is expected to account for highest share in terms of revenue. The high torque CNC horizontal milling segment is expected to account for second-highest revenue share in the global market. By Application: Among the applications in various end-use industries, the automotive, and aerospace & defense segments are expected to account for higher revenue shares as compared to other application segments in the market.

By Region: Europe CNC milling machines market is expected to account for comparatively higher revenue share among the regional markets in the global market. The market in China is projected to register highest CAGR in the global market. This is due to increasing presence of manufacturing units in the country.

Тhе glоbаl СNС Міllіng Масhіnеѕ mаrkеt іnсludеѕ рrоfіlеѕ оf ѕоmе оf mајоr key players ѕuсh аѕ DМG Моrі Со., Ltd.  Міtѕubіѕhі Соrроrаtіоn, Нurсо Соmраnіеѕ, Іnс., Оkumа Соrроrаtіоn, Dооѕаn Соrроrаtіоn, Маkіnо Міllіng Масhіnе Со., Ltd., Gеоrg Fіѕсhеr АG, Нааѕ Аutоmаtіоn, Іnс., ЅYІL Масhіnе Соrр., НYUNDАІ WІА Соrроrаtіоn.