Mar 07, 2024

Machining Centres Industry Report 2023

Global Machining Centres Market

Dublin, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The "Global Machining Centres Market Report and Forecast 2023-2028" report has been added to's offering.

The global machining centres market experienced remarkable growth in 2022, reaching a value of USD 28.06 billion. The market's growth has been fueled by the surging demand for precision engineering and the widespread adoption of automation in manufacturing processes. Analysts project a strong compound annual growth rate (CAGR) of 8.1% from 2023 to 2028, resulting in a market value of USD 43.17 billion by 2028.

As industries focus on cost reduction and improved performance, the adoption of machining centres has surged, empowering the production of complex, high-precision parts with minimal human error.

The integration of advanced technologies such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT) has further accelerated market growth. These cutting-edge technologies enable real-time monitoring, predictive maintenance, and process optimization, leading to heightened productivity and reduced downtime. The demand for smart machining centres is expected to witness substantial growth in the upcoming years.

A prominent trend driving the market's expansion is the rapid industrialization in developing countries like India and China. As these economies grow, the demand for advanced manufacturing equipment and technologies has surged, resulting in increased adoption of machining centres to cater to rising production needs. Moreover, the industry's emphasis on green and sustainable manufacturing practices has spurred the development of energy-efficient machining centres, contributing to a cleaner environment.

The market is segmented based on type, including horizontal machining centre, vertical machining centre, and others, and application, covering automotive, aerospace, construction, general engineering, oil and energy, and more. It is also categorized by region, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players

JTEKT Corporation

FANUC Corporation

Yamazaki Mazak Corporation

FFG European and American Holdings GmbH

Makino Milling Machine Co. Ltd.

Okuma Corporation

These major players have significantly contributed to the development of the machining centres market through plant turnarounds, capacity expansions, investments, and strategic acquisitions and mergers.

Key Topics Covered1 Preface2 Report Coverage - Key Segmentation and Scope3 Report Description4 Key Assumptions5 Executive Summary6 Market Snapshot7 Opportunities and Challenges in the Market8 Global Machining Centres Market Analysis9 North America Machining Centres Market Analysis10 Europe Machining Centres Market Analysis11 Asia-Pacific Machining Centres Market Analysis12 Latin America Machining Centres Market Analysis13 Middle East and Africa Machining Centres Market Analysis14 Market Dynamics15 Trade Data Analysis (HS Code - 8457)16 Competitive Landscape17 Key Trends and Developments in the Market

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