Vertical Milling Machine Market to Reach USD 8.77 billion by 2026; Increasing Emphasis on Technological Integration Will Provide Impetus to Market Growth

The global vertical milling machine market size is projected to reach USD 8.77 billion by the end of 2026. The increasing adoption of modern technologies will aid growth. According to a report published by Fortune Business Insights, titled “Vertical Milling Machine Market Size, Share and Global Trend, By Type (Turret Mills, Bed Mills, and Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others) and Regional Forecasts, 2019-2026,” the market was worth USD 6.91 billion in 2018 and will exhibit a CAGR of 3% during the forecast period, 2019-2026.

A vertical milling machine includes a vertically oriented spindle that performs functions such as rotate and holding the cutting tools. The ability of a vertical milling machine to apply pressure for cutting and at the same time, move in upward as well as downward direction is a primary factor why it is being preferred over other alternatives. The increasing demand for these products is a result of the efficiency and overall operating time. Variations in product offerings have made a huge impact on the growth of the overall market in recent years. Moreover, the presence of several large scale companies has emerged in favor of the growth of the market.

Mazak Corporation Hosts New Event to Exhibit New Milling Machines

The report identifies a few of the major industry developments of recent times. It includes the leading companies and discusses their activities with respect to their businesses. It further includes the impact these companies have had on the global market. In February 2020, Mazak Corporation announced that it will host a new tech event called ‘DISCOVER MORE WITH MAZAK’. Through this, the company will plan to showcase and exhibit its latest range of milling machines. The company will also unveil its VARIAXIS C-600. Although this step was taken by the company on a business level, Fortune Business Insights states that this step will have a positive impact on the growth of the global market in the coming years.

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

https://www.fortunebusinessinsights.com/vertical-milling-machine-market-102655

Increasing Adoption of Automated Concepts to Aid Growth

The growing demand for modern as well simplified concepts have created several opportunities for the companies operating in the market. The use of automated concepts such as AI and IoT has increased dramatically over the past decade. These concepts offer variable operating modes, and simplify processes of machines, subsequently reducing the complexity involved with them. Moreover, they enable ease of operation and significantly reduce the time as well as costs associated with them. The high investments towards the adoption of advanced concepts will have a direct impact on the growth of the market in the forthcoming years.

Major Companies are Targeting Untapped Regions

A major portion of the Vertical Milling Machine market growth can be attributable to the presence of a few large scale companies that are operating around the world. However, overseas trading and supply of these products is a result of the lack of availability and production units in a few untapped regions. As a result several large scale companies are now looking to expand in areas that haven’t been explored yet. A few of the leading companies that have been profiled in the report include:

• Mazak Corporation


• TRIMILL, a.s.


• Maschinen Wagner Werkzeugmaschinen GmbH


• DMG MORI


• JET Tools


• Baileigh Industrial Holdings LLC.


• Haas Automation, Inc.


• Wells-Index


• BENIGN ENTERPRISE CO.


• TOP-ONE Machinery Co., Ltd.

Further Report Findings:

• The report analyzes the ongoing Vertical Milling Machine market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. The market in Asia Pacific held the largest market share in 2018 with a value of USD 3.49 billion.


• The market in Europe will also witness considerable growth driven by the increasing demand for the products, resulting from their widespread use in industrial production units across the region.

Industry Developments:

• October 2019 - DMG MORI announced that it will be offering digital connectivity as a standard service for networked production The company will look to enable service optimization in production units.

The global Vertical Milling Machine is segmented on the basis of: