Milling machine Market to Exhibit 2.4% CAGR by 2026; Initiatives by Companies to Increase Production Output Will Boost Growth

The global milling machine market size is projected to reach USD 16.01 billion in 2026. It is likely to gain impetus from the rising need for companies to increase their output. Therefore, they are striving persistently to improve their manufacturing facilities. This information is provided in a recently published report by Fortune Business Insights™ 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 market stood at USD 13.22 billion in 2018 and is expected to showcase a CARG of 2.4% during the forecast period between 2019 to 2026.

UNHInnovation Acquires CNC Milling Machine from DATRON

In January 2018, UNHInnovation, a promoter and manager of intellectual property of the University of New Hampshire (UNH), announced its acquisition of an innovative neo CNC milling machines from a prominent German manufacturing company named DATRON. It will be placed at the UNH ECenter. This machine is capable of milling materials, namely, acrylic, foam, wood, and metal. Also, it would enable the UNH staff, faculty, and students to create actual working prototypes of their own ideas.

The machine is able to cut off material from a work piece with the help of its high-speed rotary tools. Hence, it will be a robust resource for those innovators that are looking for exploring their ideas, present in the campus. All the volunteer student mentors would acquire initial software and machine training. This acquisition would help the campus in increasing awareness regarding such machines across the state.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/milling-machine-market-102582

Emergence of Automation & Robotics to Propel Growth

Factors, such as introduction to robotics, automation, industry 4.0, and connected industry are projected to drive the milling machine market growth in the near future. Also, to upsurge the market share, companies are working persistently to seize every opportunity available. Milling machines are capable of multi-functioning and are easy to install. Therefore, their demand is rising day by day in a wide range of industries. They also provide high-quality products at a less time period.

Key Players Aim to Widen Geographic Presence Through Acquisitions  

The market consists of few of the top enterprises, namely, FANUC Corporation, Yamazaki Mazak Corporation, Haas Automation, Inc., and DATRON Dynamics, Inc. They are at present, focusing majorly on broadening their geographic presence by adopting the strategy of acquisition. They are also investing huge sums in developing state-of-the-art technologies for providing their consumer bases with advanced features.

Notable Industry Development:

• May 2018: Privet Fund Management LLC, a manager of investment partnerships based in Atlanta, declared that it has successfully completed the acquisition of Hardinge Inc., a multi-national machine tool builder headquartered in New York. Privet gained all shares of the former for a total value of USD 245 million. This new acquisition would help Privet in aiming more on better long-term performance and growth of its business.

Fortune Business Insights™ provides a list of all the organizations present in the milling machine market. They are as follows:

• KNUTH Werkzeugmaschinen GmbH (Wasbek, Germany)
• YAMAZAKI MAZAK CORPORATION (Aichi, Japan)
• Hurco Companies, Inc. (Indianapolis, Indiana)
• Okuma Corporation (Aichi, Japan)
• DATRON Dynamics, Inc. (Milford, New Hampshire)
• FANUC CORPORATION (Yamanashi, Japan)
• ANDERSON EUROPE GMBH (Detmold, Germany)
• Haas Automation, Inc. (Oxnard, California)
• EMCO group (Hallein, Austria)
• Amera-Seiki (Houston, Texas)
• Other key market players

Further Repost Findings-

• Europe generated USD 4.09 billion milling machine market revenue in 2018 owing to the rising demand for processing and manufacturing operations in this region.
• Asia Pacific to lead on account of rapid industrialization in the developing nations, such as South Korea, India, and China.
• In terms of type, the horizontal mills segment held 31.4% milling machines market share in 2018 because of their ability to provide an enhanced surface finish.
• Renowned manufacturers operating in the market possess around 27% of the market share worldwide.

The milling machine market can be segmented on the bases of: