Milling Machines Market by Product and Geography - Forecast and Analysis 2020-2024

The Milling Machines Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analysing the growth of -3.78% and CAGR of 3% with USD 904.88 million.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by product (horizontal milling machines and vertical milling machines) and geography (APAC, Europe, North America, South America, and MEA). The milling machines market report also offers information on several market vendors, including AMADA HOLDINGS Co. Ltd., DMG MORI Co. Ltd., General Technology Group Dalian Machine Tool Corp., Georg Fischer Ltd., JTEKT Corp., Komatsu Ltd., Makino Milling Machine Co. Ltd., Okuma Corp., Shenyang Machine Tools Co. Ltd., and Yamazaki Mazak Corp. among others.

What will the Milling Machines Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the global milling machines market belonging to the Industrial Machinery industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Milling Machines Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increasing demand for fabricated metal products is notably driving the market growth, although factors such as the availability of refurbished vertical machine centres in the market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Milling Machines Market Driver

One of the key factors driving growth in the market is the increasing demand for fabricated metal products. The growth in the global fabricated metal products market will likely have a positive impact on the global market. Fabricated metals are used in ammunition, small arms, cutlery and utensils, stamped metal products, fasteners, springs, building products, tanks, cranes, and hardware. These metals are manufactured using machine tools. Fabricated metals are used in automobiles, stamped metal products, small arms, utensils, building products, fasteners, construction products, and heavy equipment. Therefore, the demand for fabricated metal products completely depends on the demand from allied industries such as automotive, construction, heavy machinery, and transportation machinery. Post-recession, the demand for buildings, cars, and heavy machinery witnessed robust growth. This increased the demand for fabricated metals, as they form an integral part of a majority of these industrial products. The increasing demand for fabricated metal products acts as a positive catalyst for the demand for automated milling machines as part manufacturers can focus on improving the quality of fabricated metal parts by using automated milling machine centers. 

Key Milling Machines Market Challenge

The availability of refurbished vertical machine centers in the market will be a major challenge for the market during the forecast period. A major challenge to the global market is the increasing demand for refurbished machine tools. Several manufacturing industries in the US and Europe closed down because of high labour costs and strict pollution laws, which resulted in the increased availability of second-hand machines. As manufacturing industries have moved to APAC owing to low-cost manufacturing in the region, refurbished milling machines from the US and Europe are being used, especially in emerging economies such as China and India. Many Asian manufacturers are eager to buy second-hand European automated machinery available at a low price as they help control capital investments; small manufacturers find it challenging to buy new machines due to cyclic market demands. China has become a major market for second-hand machines among European manufacturers. The growing availability of refurbished milling machines will impact the demand for new equipment manufacturers and negatively impact the growth of the market. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Who are the Major Milling Machines Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• AMADA HOLDINGS Co. Ltd.
• DMG MORI Co. Ltd.
• General Technology Group Dalian Machine Tool Corp.
• Georg Fischer Ltd.
• JTEKT Corp.
• Komatsu Ltd.
• Makino Milling Machine Co. Ltd.
• Okuma Corp.
• Shenyang Machine Tools Co. Ltd.
• Yamazaki Mazak Corp.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• AMADA HOLDINGS Co. Ltd. - The company offers PMH series and THV series of milling machines. Through the Metalworking Machinery segment, the company offers products such as laser machines, punch presses, press brakes, and micro welding machines. Through the Metal Machine Tools segment, the company offers products such as metal-cutting band saws, mechanical presses, and grinding machinery.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market report contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Milling Machines Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Milling Machines Market?

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59% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for milling machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.

APAC dominates the global milling machine consumption owing to the presence of a strong manufacturing base in countries such as China, Japan, India, and South Korea. These countries are among the largest manufacturing countries in the world. Milling machines can perform diverse functions, including turning, fillet making, chamfering, facing, slot cutting, gear cutting, and drilling. This will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Milling Machines Market?

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The market share growth by the horizontal milling machines segment will be significant during the forecast period. The segments that will exhibit a growth rate faster than that of the overall market have been termed as fast-growing segments, and those that will lag behind the overall market have been termed slow-growing segments. In a zero-growth environment, the segments with the least reduction in market size will be classified as fast-growing segments. To seek maximum growth opportunities in the market, industry participants need to consider prospects in the fast-growing segments while protecting their foothold in the slow-growing segments.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Milling Machines Scope Market
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 3%
Market growth 2020-2024	$ 904.88 million
Market structure	Fragmented
YoY growth (%)	-3.78
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 59%
Key consumer countries	China, US, Japan, Germany, and India
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	AMADA HOLDINGS Co. Ltd., DMG MORI Co. Ltd., General Technology Group Dalian Machine Tool Corp., Georg Fischer Ltd., JTEKT Corp., Komatsu Ltd., Makino Milling Machine Co. Ltd., Okuma Corp., Shenyang Machine Tools Co. Ltd., and Yamazaki Mazak Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Milling Machines Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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