The market research report identifies key vendors in the global milling machines market. It also presents a detailed segmentation of the global market by product and by geography.
Technavio’s market research analyst predicts the global milling machines market to grow steadily at a CAGR of around 6 per cent by 2021. One of the primary drivers for this market is the rise in demand for superior-quality products and computer numerical control (CNC) machines. Machine tools are used to implement these specifications for convenient and easy development of complex products and shapes. As a result, effective use of machine tools helps industries to develop superior-quality products with enhanced dimensional accuracy.
Outlook of the global milling machines market
CNC machines are highly efficient, productive, and enable incorporation of new technologies. These advantages of CNC machines have compelled multiple established vendors to provide applications via the internet and mobile phones that help in understanding the operation of CNC machines. Also, the demand for small and compact CNC machines that are capable of performing very specific small-scale functions such as milling or drilling will augment the growth of the global milling machines market during the forecast period.
One of the latest trends gaining traction in this market is the development of the 6-axis CNC machines. The 6-axis machine converts a raw metal bar into the final product by turning from both the ends of the fixture, thus eliminating multiple fixtures and other activity in machining activity. It also avoids the waiting time that happens when shifting the workpiece from one machine to other and prevents batch queuing as it concentrates on the lean manufacturing process. Further, the machines can be used to carry out complex work like drilling holes of different diameter and shapes or variable cutting speed and pattern. This capability of the 6-axis CNC enables it to achieve better quality final product while minimizing the stack up errors.
Competitive landscape and key vendors
The global milling machines market is highly fragmented due to the presence of international and regional vendors. There is intense competition among major vendors in the market. In an attempt to gain a competitive advantage, several regional and local vendors have started manufacturing customized and energy-efficient equipment that are available at a lower price than their international counterparts. As the international players are increasing their market reach, the regional and local players are finding it difficult to compete with international vendors in terms of quality, features, functionalities, and services.
Leading vendors in the market are:
- Dalian Machine Tool Group
- DMG MORI
- GF machining solutions
- Shenyang Machine Tools Co., Ltd.
- Yamazaki Mazak
Other prominent vendors in the milling machines market include Breton, Bridgeport, Brother Industries, CHIRON Werke, Correanayak, DANOBATGROUP, Datron, Doosan Machine Tools, EMCO, Eumach, FERMAT, Fidia, Fryer Machine Systems, Fuji Machines, F.Zimmermann, GILDEMEISTER, Gleason, GROB GROUP, Haas Automation, Hangzhou Datian CNC Machine Tool, HELLER, Hurco, HURON GRAFFENSTADEN, JIUH-YEH PRECISION MACHINERY, JMT, KERN Microtechnik, Kitamura Machinery, Komatsu, Long Chang Machinery, MAG, Makino Milling Machine, Matsuura Machinery, Okuma, PAMA, Schuler, Strojimport, Top-One Machinery, Toyoda, TRUPRO-TEC Industrial, Yeou Eri Shuen Machinery, and ZAYER.
Segmentation by product type and analysis of the milling machines market
- Horizontal milling machines
- Vertical milling machines
During 2016, the horizontal milling machines segment dominated the milling machines market and accounted for a major part of the overall market share. This dominance of the horizontal milling machines can be attributed to the cost effectiveness and production of high-quality products. Horizontal milling machines can be used to machine a wide variety of metals with varying hardness. Furthermore, horizontal milling machines minimize human intervention, thus resulting in significant reduction in labor cost.
Geographical segmentation and analysis of the milling machines market
The APAC dominated the global milling machine market during 2016 and is anticipated to continue its dominance until 2021. A substantial rise in investments by major end-user industries, such as automotive and industrial automation is the key contributor to the dominance of the milling machines market in the region. Countries such as Malaysia, South Korea, India, and Indonesia are expected to witness growth in the automobile industry, which will indirectly propel the growth prospects for the milling machines market in the coming years.
To download the full report, please click on the following link: http://www.technavio.com/report/global-tools-and-components-global-milling-machines-market-2017-2021