The global milling machine market is set to gain traction from the rising demand for minimizing wastage and lowering the cost from various industries. These machines require very less production time and deliver superior quality products. This information is provided by Fortune Business Insights™ in a recently published report, titled, “Milling machine Market Size, Share & Industry Analysis, By Type (Vertical Mills, Horizontal Mills & Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery & Others) and Regional Forecasts, 2019-2026.” The report further mentions that the milling machine market size stood at USD 13.22 billion in 2018 and is anticipated to be at USD 16.01 billion in 2026, thereby exhibiting a CARG of 2.4% during the forecast period.
Fortune Business Insights™ provides a list of companies operating in the milling machine market. They are as follows:
- Okuma Corporation (Aichi, Japan)
- Haas Automation, Inc. (Oxnard, California)
- EMCO group (Hallein, Austria)
- DATRON Dynamics, Inc. (Milford, New Hampshire)
- Hurco Companies, Inc. (Indianapolis, Indiana)
- FANUC CORPORATION (Yamanashi, Japan)
- KNUTH Werkzeugmaschinen GmbH (Wasbek, Germany)
- YAMAZAKI MAZAK CORPORATION (Aichi, Japan)
- ANDERSON EUROPE GMBH (Detmold, Germany)
- Amera-Seiki (Houston, Texas)
- Other key market players
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Upgradation of Hardware & Technology to Propel Growth
Nowadays, owing to technological advancements, the hardware of milling machine is upgraded on a regular basis. It is further increasing their capacity to produce customized products in bulk quantity. These machines are highly demanded from various industries ranging from general manufacturing and automobiles to electronics. Companies across the world are trying to work on improving their manufacturing facilities to upsurge their outputs. These factors are set to augment the milling machine market growth during the forthcoming years.
Ability to Provide High Energy Efficiency to Drive Vertical Mills Segment
Based on type, the market is grouped into horizontal mills, vertical mills, and others. Out of these, the horizontal mills segment procured a milling machines market share of 31.4% in 2018. It is likely to grow considerably in the coming years backed by their ability to provide an enhanced surface finish. These are extensively utilized for complicated parts and systematic purposes. However, they have very limited usage in automotive and precision engineering industries. The vertical mills segment is projected to showcase moderate growth because of their surging demand from various industries. These also provide superior performance and high energy efficiency.
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