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Machining Centers Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON , UNITED KINGDOM, October 4, 2024 /EINPresswire / -- The machining centres market has experienced robust growth in recent years, expanding from $26.64 billion in 2023 to $28.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to demand for high precision components, mass production requirements, flexible manufacturing systems, reduction in setup time, globalization of manufacturing, energy sector investments, focus on quality assurance.
What Is The Estimated Market Size Of The Global Machining Centers Market And Its Annual Growth Rate?
The machining centres market is projected to continue its strong growth, reaching to $36.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to customization in manufacturing, increasing productivity, smart manufacturing initiatives, energy efficiency requirements, global infrastructure development, advanced control systems. Major trends in the forecast period include automation and robotics, high-speed machining, multi-tasking machining centers, integration of additive manufacturing, digital twin technology, advanced tooling technologies, remote monitoring and maintenance, focus on user-friendly interfaces.
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Growth Driver Of The Machining Centers Market
The increase in automation and robotics in the manufacturing industry is expected to propel the growth of the machining centers market going forward. The manufacturing industry is the industry concerned with the manufacturing and processing of raw materials such as steel, iron, and plastic into end products. Machining centers automate the manufacturing machining processes and are considered excellent automation tools for the manufacturing sector.
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Which Market Players Are Driving The Machining Centers Market Growth?
Key players in the machining centres market include 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.
What Are The Emerging Trends Shaping The Machining Centers Market Size?
Technological advancements are a key trend gaining popularity in the machining centers market. Major companies operating in the market are introducing new technologies such as 'The MCR-S double-column machining center which is manufactured by using cutting-edge technology to sustain their position in the market.
How Is The Global Machining Centers Market Segmented?
1) By Type: Horizontal Machining Center, Vertical Machining Center, Other Types
2) By Distribution Channel: Direct Sales, Third-Party Sales
3) By Application: Automotive, Aerospace, Construction and Agriculture, Fluid Power, Oil and Energy, Other Applications
Geographical Insights: North America Leading The Machining Centers Market
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.
Machining Centers Market Definition
A machining center refers to an advanced manufacturing machine tool that can automate several machine functions. These machining centers help in performing with high precision and have high finish quality as compared to manual machining.
Machining Centers Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global machining centres market report covering trends, opportunities, strategies, and more
The Machining Centers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on machining centres market size, machining centres market drivers and trends, machining centres market major players, machining centres competitors' revenues, machining centres market positioning, and machining centres market growth across geographies. The machining centres market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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