Machining Centres Global Market Report 2024

The global machining centres market has grown strongly in recent years. It will grow from $26.64 billion in 2023 to $28.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth seen in the historical period can be credited to several factors, including the increased demand for high-precision components, the necessity for mass production capabilities, the adoption of flexible manufacturing systems, efforts to reduce setup times, the globalization of manufacturing processes, investments in the energy sector, and a heightened focus on ensuring quality assurance throughout production processes.

The global machining centres market is expected to see strong growth in the next few years. It will grow to $36.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. Anticipated growth in the upcoming period is linked to several key factors, including the trend towards customization in manufacturing, efforts to enhance productivity, the implementation of smart manufacturing initiatives, the growing need for energy-efficient practices, ongoing global infrastructure development, and the adoption of advanced control systems. Notable trends expected in this forecast period encompass the widespread adoption of automation and robotics, the rise of high-speed and multi-tasking machining centers, the integration of additive manufacturing techniques, leveraging digital twin technology, advancements in tooling technologies, the adoption of remote monitoring and maintenance systems, and a heightened emphasis on user-friendly interfaces across manufacturing processes.

The surge in automation and robotics within manufacturing is set to drive the machining centers market's growth trajectory. These centers play a crucial role in automating machining processes, making them indispensable tools for the manufacturing sector. Notably, reports from the Association for Advancing Automation (A3) in 2021 showcased a remarkable 67% increase in robot orders compared to the previous year's second quarter. Specifically, industries like metal, automotive components, plastics, and rubber witnessed substantial order hikes of 99%, 85%, and 51%, respectively. Thus, the escalating integration of automation and robotics in manufacturing serves as a driving force behind the machining centers market's expansion.

The escalating demand within the aerospace industry is poised to fuel growth in the machining centers market. Within this expansive sector encompassing aircraft, spacecraft, and related systems, machining centers stand as indispensable tools for precision manufacturing meeting stringent industry standards. Reports from August 2023 indicated a 3% rise in aerospace industry revenue, reaching $741 billion in 2022 according to Cadrex. This surge in demand within aerospace acts as a significant driver for the machining centers market's growth trajectory.

Technological advancements emerge as a prominent trend shaping the landscape of machining centers. Key industry players are introducing cutting-edge technologies like Okuma's 'MCR-S double column machine center.' Launched in March 2021, this tool harnesses innovative technology, reducing cycle time by 25% while offering full 5-face and 5-axis machining capabilities. Tailored for die repair work in automotive and aerospace industries, this advancement aligns with the trend of technological evolution within the machining centers market.

Major entities within the machining centers market are focusing on innovation, exemplified by the introduction of double-column machining centers to drive revenue growth. These industrial machines, featuring a dual-column structure, offer enhanced stability and precision for machining large and heavy workpieces. In July 2022, Nidec Corporation unveiled the MVR-Ax series, boasting user-friendly, multipurpose equipment suitable for large-scale component production. This series, equipped with a main axis rotating at 6,000 rpm (standard) or an optional gear drive main axis reaching 4,000 rpm, caters to diverse industries like construction, industrial, and semiconductor manufacturing. Its robust ram main axes improve cutting capabilities, ensuring stability even during high-torque operations, underscoring the market's drive towards innovative double-column machining centers.

In January 2022, DTR Automotive, a Korean manufacturer specializing in rubber parts for batteries, tires, and automotive components, finalized the acquisition of Doosan Machine Tools for a transaction valued at $2.05 billion. This strategic move is anticipated to significantly bolster DTR Automotive's financial performance, with expected revenue surpassing 3 trillion won and an estimated EBITDA of 400 billion won, attributed to the inclusion of Doosan Machine Tools within its portfolio. Doosan Machine Tools, a South Korea-based manufacturer renowned for producing turning centers, machining centers, and other precision machine tools, now becomes a vital asset under the umbrella of DTR Automotive.

Major companies operating in the machining centres market report are AceMicromatic Group, Amera-Seiki Corp., CHIRON Group SE, DMG Mori Co. Ltd., Doosan Machine Tools Co. Ltd., Fanuc Corporation, FFG European & American Holdings GmbH, Haas Automation Inc., Hurco Companies Inc., Jiuh-Yeh Precision Machinery Co. Ltd., JTEKT Corporation, Jyoti CNC Automation Limited, Kent CNC, Komatsu NTC Ltd., Makino Inc., Matsuura Machinery Corporation, Maxmill Machinery Co. Ltd., Mazak Corporation, Mitsubishi Electric Corporation, MTAB Engineers Private Limited, Okuma America Corporation, SCM GROUP S.p.A., Siemens AG, The Hyundai Wia Corporation, Yamazaki Mazak Corporation, Yeong Chin Machinery Industries Co. Ltd., Hornet Cutting Systems LLC, Davenport Machine Inc., Emmegi SPA, Tsugami-Rem Sales LLC, Detroit Edge Tool Company, TruCut Fabricators Co., BLM Group USA Corp., HowesTemco a div. of NN Inc., Elektriska Svetsnings-Aktiebolaget, Doosan Corp., Toyoda Gosei Co. Ltd., Hermle AG, GROB-WERKE GmbH & Co. KG

Asia-Pacific was the largest region in the machining centers market share in 2023. The regions covered in the machining centres market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the machining centres market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The machining centers market, distinct segments encompass horizontal machining centers, vertical machining centers, and other specialized types, all adept at performing various CNC tasks such as drilling, boring, and milling with exceptional precision. A horizontal machining center features a spindle positioned parallel to the ground floor, employing tools extended from the tool holder's side to execute cutting across the workpiece's side. This market encompasses diverse distribution channels including direct sales and third-party sales. Applications span across industries like automotive, aerospace, construction and agriculture, fluid power, oil and energy, among others.

The machining centres report is one of a series of new reports provides machining centres statistics, including machining centres industry global market size, regional shares, competitors with an machining centres share, detailed machining centres segments, market trends and opportunities, and any further data you may need to thrive in the machining centres industry. This machining centres market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The machining center market consists of sales of graphite machining centers and gantry machine centers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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