June 17, 2020
As per the report titled ‘Global CNC Milling Machines Market Size study, by Type (Horizontal Milling Machine, Vertical Milling Machine, and Universal Milling Machine), by Application (Automotive Industry, Aerospace Industry, Electronic Industry, and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global CNC milling machines market is projected to see remunerative growth through 2026.
Increasing demand for computer numerical control (CNC) machines from subtractive manufacturing sector owing to their advanced technology and precise cutting is fueling the growth of global CNC milling machines market.
Rising trend of automation across various industries, along with benefits such less manual labor and negligible human errors have augmented the demand for CNC milling machines. Although these machines are capital intensive, but they are highly powerful and allow implementation of new technologies.
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The invention of 6-axis machines has enabled the transformation of product by turning from both ends of the fixture, thereby eliminating the need for multiple fixtures and other machining operations. This also reduces the waiting time and prevents queuing when the product is being transferred from one unit to another. In addition, CNC milling machines can be used to perform complex tasks like drilling various shapes or holes of different diameters with variable cutting speed and pattern, further boosting the product demand.
Based on type terrain, the market is categorized into vertical milling machine, horizontal milling machine, and universal milling machine. Speaking of the application spectrum, CNC milling machines market is segmented into automotive industry, electronic industry, aerospace industry, and others.
From the geographical front, Asia Pacific CNC milling machines market is expected to accrue significant gains over the assessment period, owing to rising popularity of CNC milling machines in economies such as India, China and Japan. Government initiatives along with growing adoption of advanced technologies in manufacturing sector is supporting the regional market outlook.
Prominent industry players include Dufieux Industrie S.A, imes-icore GmbH, DMG MORI USA, MC Machinery Systems Inc., Kitamura Machinery, Haas Automation Inc., Hurco Companies Inc., DATRON, Kingston Technology Corporation, Levil Technology, and JET.