Milling Machines Market

Milling Machines Market Growth Outlook 2023-2033

The global milling machines market is valued at US$ 7.5 billion in 2023 and is likely to touch US$ 13 billion by 2033, expanding at a steady CAGR of 5.6% during the forecast period (2023–2033).

For ages, milling machines have been one of the most important and popular machine tools that have been consistently improved. Milling machines are used to carve out the required shape by removing metal from the workpiece's surface.

They are used to shape and size metal or other materials using revolving cutters or tools that rotate about an axis parallel to the surface of the workpiece while moving perpendicularly over it.

Rapidly expanding global metalworking industry and a significant increase in metalworking facilities worldwide have fueled the demand for milling machines in recent years.

Milling machines are incredibly versatile and can execute a wide range of tasks such as chamfering, turning, drilling, gear cutting, facing, and slot cutting. By installing numerous cutters, these machines can make multiple cuts at the same time.

Milling machines can also accommodate other tools, such as fluted, rounding, and ball-end mills. Milling machines are useful for machining metal parts in industries such as aerospace and defense and automotive.

Numerous milling machine makers are implementing CNC (computer numerical control) technology to improve the quality and productivity of the work performed by milling machines by employing the same tools and programs to generate many parts.

CNC machining has become critical for the manufacturing industry and is quickly becoming a popular technique for precision-machining metal parts. CNC machining is a precise automation technique capable of producing high-quality metal items without the need for human intervention.

Moreover, the incorporation of CAD and CAM software into CNC machines gives additional benefits such as reduced machining time and improved workflow. Furthermore, the development of compact machine tools that require less floor space is gathering steam in the industrial manufacturing sector.

Automation and multi-axis machining are two of the market's most significant trends. Companies increasingly prefer multi-axis machining equipment to produce high-quality metal parts in shorter periods.

5-axis and 6-axis milling machines are gaining popularity in the worldwide market. While 5-axis machines have significantly impacted the metal processing industry by cutting turnaround time, decreasing waste, and improving efficiency, 6-axis machines have the potential to alter machining processes and operations completely.

Moreover, the increased need for high-quality fabricated metal goods from defense and aerospace, as well as automotive, is creating new opportunities for developing new and innovative multi-axis machine tools.

Report Attributes	Details
Milling Machines Market Size in 2023	US$ 7.5 Billion
Projected Market Value (2033)	US$ 13 Billion
Global Market Growth Rate (2023-2033)	5.6% CAGR
Asia Pacific Market Share (2022)	40%
Vertical Milling Machines Segment Growth Rate (2023-2033)	4% CAGR
Key Companies Profiled	Amera-Seiki DATRON Dynamics, Inc Doosan Machine Tools ANDERSON EUROPE GMBH Haas Automation, Inc Baileigh Industrial Holdings LLC FANUC CORPORATION Benign Enterprise co Hurco Companies, Inc CHIRON Werke GmbH & Co. KG DMG Mori Seiki Co., Ltd EMCO Group

Why is the Popularity of Milling Machines Rising Steadily?

“Increasing Demand to Lower Operating Costs and Boost Productivity”

Growing demand from end-users is pushing industries to improve their manufacturing processes. Companies are striving for lower operational costs as the manufacturing process becomes more complex, boosting the demand for milling machines. Milling machines produce high-quality goods in less time, assisting companies in lowering costs and decreasing waste.

Furthermore, cold milling machines are rapidly being employed in industrial manufacturing since they give varied functionalities when necessary for multiple applications.

“Rising Need for Customized Mass Production”

Milling machines manufacture customized items in large quantities. The consumer market is seeking products that stand out and have the most recent hardware and technology. This has led to an increased and continuous manufacturing process for numerous industries such as automobiles, electronics, general manufacturing, and so on.

Furthermore, companies want to seize every opportunity to enhance their market share, so they are searching for continual development in their production facilities to raise output. Moreover, the connected industry, industry 4.0, robotics, and automation are highlighting the need for firms to have an automated manufacturing process, which is increasing the demand for milling machines.

What Can Limit Sales Growth of Milling Machine Manufacturers?

“High Installation and Maintenance Costs”

Milling machines are an important part of the machine tools market, despite the fact that they only do limited milling tasks like lathe, drill, and so on. Due to this limitation, industries are forced to install additional machines, raising the capital investment required.

Furthermore, different machines have irregular wear and tear cycles, which results in higher maintenance costs for the company. Other types of machine tools, such as machining centers, perform a variety of operations, including milling; as a consequence, customers prefer machining centers over milling machines. These factors are anticipated to limit sales growth.

Country-wise Insights

Why are Japan and South Korea Major Markets in Asia Pacific?

The demand for milling machines in Asia Pacific is escalating due to the increased popularity of metal cutting in the region. Asia Pacific accounted for 40% of the market for milling machines in 2022.

The demand for milling machines in Asia Pacific is fueled by factors such as greater knowledge regarding energy-efficient manufacturing processes, rapid industrialization, and a rise in economically developing countries. Furthermore, important businesses are concentrating their efforts on developing manufacturing facilities in Asia Pacific since the region offers low-cost labor, land, and expenses.

Japan and South Korea are major markets in Asia Pacific due to the existence of several manufacturing industries in these countries. Moreover, the demand for milling machines is growing in Japan and South Korea due to the increased need for high-output products with reduced downtime.

How is Germany Contributing to Increasing Sales of Milling Machines in Europe?

The Europe milling machine market is estimated to grow significantly during the forecast period. The region is concentrating on the development of energy-efficient milling equipment and a technologically advanced product line.

Germany is boosting the market growth in Europe due to the increasing adoption of milling machines by German automotive manufacturers.

Why is the United States Likely to Remain Dominant in North America?

Demand for milling machines in North America is increasing. The United States dominated the North American market and is expected to continue during the study period.

The demand for milling machines in the United States is growing owing to the usage of these machines for industrial applications, where they are deployed to manufacture components effectively.

Category-wise Insights

Why is Demand for Vertical Milling Machines Gaining Traction?

Demand for vertical milling machines is projected to increase at a CAGR of 4% from 2023 to 2033.

A vertical milling machine is usually made up of a self-contained electric drive motor, a digital readout, a coolant system, and variable spindle speed. The vertically mounted cutter of a vertical milling machine is designed to rotate at varying speeds to change the fixed workpiece as needed.

Vertical milling machines are multipurpose and can drill larger diameter holes, eliminating the need for separate large-hole drilling equipment. The ability of these machines to be readily changed and maneuvered according to the desired shape ensures that the demand for vertical milling machines will grow significantly in the coming years.

Moreover, vertical milling machines are less complex than horizontal milling machines due to the one-piece tool head, which removes the requirement for complex gearing inside the vertical column.

To meet the increased demand from end consumers, the manufacturing industries are going through a revolutionary phase with the implementation of automated processes and industry 4.0. As a result, companies have installed innovative machines to ensure a constant and effective production process. These machines make the production process more efficient, structured, time-saving, and with fewer human errors.

Vertical milling machines are examples of such machines that enable firms to execute milling operations on various surfaces.

Competitive Landscape

The market for milling machines is extremely competitive due to the presence of various global and regional players. Major companies in the milling machines industry are employing various methods, such as regional and product portfolio expansion, to strengthen their market position.

Moreover, several startups are entering the worldwide market with innovative product offerings.

• Science Labs, a Canadian startup, makes a low-cost milling machine. LongMill, their CNC machine, has high-power NEMA 23 motors, an aluminum router mount, a Steel Z-axis motor mount plate, and multi-platform CAM software.
• Yamazaki Mazak launched the CV5-500 5-axis machining center and QTE Series turning machine in January 2022. Furthermore, in March 2022, the company released two vertical machines, the CVE-600 and VCN-700. These machines provide high precision, excellent performance, and low time consumption.
• CDI Energy Products is a market vendor and producer of high-performance polymer products. The company installed 5-Axis CNC milling equipment to increase its production rate and improve the market's automation-based solutions in April 2021.
• GF Machining Solutions LLC, a U.K.-based producer of die makers and targeted molds, debuted a three-axis vertical milling machine in March 2021. The product was launched in North America and will target consumers who demand a long-lasting and effective vertical milling machine. The product has an extended machining duration and higher productivity.

Key Segments of Milling Machines Industry Research

• By Type :

  • Horizontal Milling Machines
  • Vertical Milling Machines

• By End Use :

  • Industrial
  • Power & Energy
  • Automotive
  • Aerospace & Defense
  • Other End Uses

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA