Machining Centres Market Outlook
According to the report by Expert Market Research (EMR), the global machining centres market size reached a value of USD 26.05 billion in 2023. Aided by the increasing demand for precision manufacturing and the growing adoption of automated production systems across various sectors, market is projected to further grow at a CAGR of 7.44% between 2024 and 2032 to reach a value of USD 40.18 billion by 2032.
Machining centres are automated machine tools that can perform various milling, drilling, and cutting tasks with high precision. They often feature computer numerical control (CNC) technology, enabling seamless execution of complex designs. Vertical and horizontal machining centres are the primary types, catering to different manufacturing needs.
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The automotive sector relies heavily on machining centres for producing engine parts, transmission systems, and other components. Growing demand for electric vehicles (EVs) and increasing production standards drive the need for advanced machining technologies, consequently driving up the machining centres market share.
High-precision requirements in aerospace and defence applications make machining centres indispensable. Advanced aerospace manufacturing depends on these centres for producing engine casings, airframe components, and military equipment to precise specifications. They ensure accuracy in producing aircraft components, turbine blades, and critical military hardware. Additionally, in the medical sector, machining centres manufacture intricate and reliable parts used in medical devices, implants, and surgical tools.
Growing automation in the industrial machinery sector relies on machining centres for the efficient production of precision parts in agriculture, energy, and heavy machinery. Moreover, the electronics sector benefits from machining centres in manufacturing metal parts for consumer electronics, telecommunications, and data storage devices.
Machining centres help in manufacturing engine blocks, cylinder heads, and gearboxes with high accuracy. Their precision supports modern automotive production standards, emphasising fuel efficiency and lightweight designs, leading to machining centres market development.
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Machining centres ensure consistent and reliable production of parts used in surgical instruments, prosthetics, and diagnostic equipment. Additionally, the centres are used for the mass production of industrial parts, components, and equipment for various sectors, ensuring consistency and quality. The centres also enable precision manufacturing of electronic housings, connectors, and other critical components, supporting innovation in consumer technology, leading to machining centres market expansion.
The complexity of jobs that customers receive nowadays has increased, requiring a higher level of expertise from machinists and programmers. As a result, there is a rising demand for individuals who possess the necessary knowledge and experience to handle these intricate tasks. Evaluating new jobs can help identify areas where machine parts may need additional investments, such as incorporating 5-axis or HMC capabilities, or adding a fourth axis rotary or a fourth and fifth axis trunnion table to existing machines.
As per the machining centres market analysis, the Asia-Pacific region dominates the global machining centres market, led by China, Japan, and South Korea. The rapid industrialisation, expansion of the automotive and consumer electronics sectors, and government support for manufacturing advancements bolster the market growth in this region. Europe remains a significant market, with established automotive, aerospace, and machinery sectors driving demand. Germany, Italy, and the UK are leading regional markets.
North America, particularly the United States, benefits from a robust aerospace and defence sector, combined with growing investments in automotive and medical equipment manufacturing.Emerging markets in Latin America and the Middle East also hold potential, supported by expanding industrialization and infrastructure investments.
Market Segmentation
The market can be divided based on the type, application, and region.
Market Breakup by Type
- Horizontal Machining Center
- Vertical Machining Center
- Others
Market Breakup 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
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global machining centres market. Some of the major players explored in the report by Expert Market Research are as follows:
- JTEKT Corporation
- FANUC Corporation
- Yamazaki Mazak Corporation
- FFG European and American Holdings GmbH
- Makino Milling Machine Co., Ltd.
- Okuma Corporation
- Others
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