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Vertical Milling Machine Market Size, Share and Industry Analysis, By Type (Turret Mills, Bed Mills, and Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others) and Regional Forecasts, 2019-2026

Region : Global | Format: PDF | Report ID: FBI102655

 

KEY MARKET INSIGHTS

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The installation of a Vertical Milling Machine aids companies to increase the efficiency and output. The increasing number of axes of movements installed in machines has helped perform complex machining motions with relative ease. Complex machining motions are essential during the production process by multiple applications. This will contribute to the dominance of the Vertical Milling Machine in the overall milling machines market. Applications such as precision engineering, automotive, and general machinery, contribute to more than fifty percent market share and therefore are expected to have a steady impact on the Vertical Milling Machine market growth during the forecast period.


MARKET TRENDS


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Increasing Installation of Multiple Axis for Movements to Achieve Complex Machining Motion


Initially, the standard vertical mills came with 1 or 2 axes options of movement, which limit the use of the machines to certain application. To overcome this challenge, contemporary models are installed with multiple axes options enhancing the use-case of the tools.  Furthermore, the multiple axis options have provided prospects for the milling machines to operate on critical irregular, curved, and angular surfaces. This has resulted in increased use of milling machines in various industries such as precision engineering, electronics, etc.


MARKET DRIVERS


Adoption of Automation & Industry 4.0 for Continuous and Efficient Production Process is Expected to Drive the Market


The manufacturing industries are going through a revolutionary phase, with the adoption of automated processes and industry 4.0 to endure the increasing demand from end users. This has made the companies install advanced machines for the continuous and efficient production process. These machines enable the manufacturing process to be smooth, well organized, time-saving, and fewer human errors. Vertical Milling Machines are such examples that allow the companies to perform milling operations on different kinds of surfaces. These milling processes involve activities such as chamfering, turning, gear cutting, filleting, etc. Hence, with these transformation going in the industries, the market growth of Vertical Milling Machine is expected to be steady in the coming years.


MARKET RESTRAINT


Cost Involved in Maintenance & Retrofitting of Accessories after Installation is Restricting the Market Growth


The cost involved in the purchase of Vertical Milling Machine is closely related to its accessories and configuration. This includes the cost of parts, setup, software packages to create designs installation durations, and training cost. Various medium and small industries purchase these machines without considering the regularity of the use. They do not consider this aspect and look for tools with minimized requirements, thus resulting in frequent wear and tear of the machines.


Moreover, once the machines are installed, it becomes a frantic task to have some additional accessory or function that can be performed by the devices. Hence, this restricts the use of Vertical Milling Machine for some of the industries.


SEGMENTATION


By Type Analysis


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Turret Mills Sub-Segment Accounts for a Significant Share


The market Vertical Milling Machine is categorized based on type, namely turret mills, bed mills & others. Among them, the turret vertical mills segment is estimated to hold a significant portion of the market share, owing to its design and application. In turret mills, the spindle of the machines does not move while its operating, but the table moves perpendicularly or parallel to do the cutting job.


On the other hand, bed mills hold the highest market share. The operation process of the bed mills has a spindle that runs in parallel to the perpendicularly moving table. Other mills that are included in the scope are mill drills, drill presses. These types of mills are comparatively compact in sizes, hence are installed and operated by small and medium scale industries.


By Application Analysis


Precision Engineering Segment is Expected to Exhibit the Highest CAGR


Based on applications, the global Vertical Milling Machine market scope is categorized into automotive, general machinery, precision engineering, transport machinery & others. Precision engineering is expected to exhibit the highest CAGR during the forecast period, owing to its increasing adoption in emerging economies of various regions, including the Asia Pacific and Middle East & Africa. Furthermore, the automotive and general machinery segment together is expected to share more than 50% of the market. The use of milling machines in both applications is rising with increasing end-user demand for electronics and automobiles. Additionally, transport machinery is expected to exhibit a steady growth rate during the forecast period owing to the increasing demand from the supply chain & logistics industry. Other applications included the scope of the study applications such as aerospace, shipping, etc.


REGIONAL ANALYSIS


Asia Pacific Vertical Milling Machine Market, 2018 (USD Billion)

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The market of Vertical Milling Machine is further studied among all regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Wherein Asia Pacific held the largest share in 2018 and is estimated to be a prominent contributor to the growth. Additionally, the region will have a significant impact, as there is a high concentration of manufacturing industries in countries such as China, Japan, India, South Korea, etc. Furthermore, factors such as increased awareness about energy-efficient production process rise in economically developing countries, and rapid industrialization are fueling the Vertical Milling Machine market growth. Additionally, key manufacturers are focusing on establishing their manufacturing facilities in the Asia Pacific region as it provides low-cost labor, land, and expenses.


Europe Vertical Milling Machine market is anticipated to witness significant growth compared to North America, MEA, and LATAM. The region focuses on using Vertical Milling Machine that are energy efficient and technologically equipped during the production process for various applications. Moreover, increased demand in manufacturing and processing operations is subsequently fueling the demand in the Europe. Furthermore, North America is expected to showcase stagnant growth during the forecast period, owing to the reduced use of the machines for industrial applications. Vertical milling machines are used to manufacture products with reduced thermal & mechanical effects, hence used in advanced industries such as aerospace and automobile industry. Manufacturers are intensifying their business line in the developing region by focusing on having their manufacturing facility along with mergers and acquisitions.


The Middle East & Africa and Latin America are expected to grow at a slower rate during the forecast period. The slow growth is owed to the growth of the manufacturing sector, along with that the companies are focusing on shifting their manufacturing facilities in either the Asia Pacific or Europe.


KEY INDUSTRY PLAYERS


Prominent Manufacturers are Aiming at Introducing Products in Different Regions by Expansion of Their Sales and Distribution Channel


Key manufacturers are proactively strengthening their share and position by expanding their sales and distribution channel in different regions. Also, some of the manufacturers are focusing on collaborating with other regional and local players to introduce new products for the consumers. Additionally, the introduction of sales and distribution channel at other regions will provide the companies with the additional market to cater; hence resulting in enhanced market share. For instance, in November 2018, TRIMILL, a.s., introduced its first Trimill VU 3525 which installed at Concours Mold Inc., in Canada. This machine will provide the company with high productivity in roughing and finishing operation at one go.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • November 2018 - TRIMILL, a.s., at EMAF in Portugal showcased working model rigid 3-axis facelift TRIMILL VC1810. This was a strategic move by the company to attract customers to experience the product and then buy. The event was done in collaboration with the dealer company STARMILL.

  • December 2018 - Mazak Corporation acquired MegaStir. MegaStir is a Utah based Friction Stir Welding (FSW) tools, supplier. This acquisition is aimed at expanding and building Hybrid multi-tasking machine technology.           


REPORT COVERAGE


The Vertical Milling Machine market report offers qualitative and quantitative insights along with the detailed analysis of market size & growth rate for all possible segments in the market of Vertical Milling Machine.


An Infographic Representation of Vertical Milling Machine Market

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Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption of Vertical Milling Machine by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies adopted by leading market players, macro and micro-economic indicators, and key industry trends.


Report Scope and Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Type



  • Turret Mills

  • Bed Mills

  • Others (Mill Drills, etc.)



By Application



  • Automotive

  • General Machinery

  • Precision engineering

  • Transport Machinery

  • Others (Electricals, etc.)



By Region



  • North America (the US and Canada)

  • Europe (Germany, Russia, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)



Frequently Asked Questions

As per our study, the global market of Vertical Milling Machine is predicted to reach USD 8.77 billion by 2026 with a CAGR of 3.0% (2019 -2026)

In 2018, the market value stood at USD 6.91 billion.

Growing at a CAGR of 3.0%, the market will exhibit steady growth in the forecast period (2019-2026).

The Asia Pacific dominated the market share of Vertical Milling Machine in 2018.

The turret vertical mills are estimated to be the leading segment in the market of Vertical Milling Machine, owing to its design and application.

The driving factor for this market is automation & industry 4.0 for the continuous and efficient production process.

The increasing number of axes of movements to achieve complex machining motion is expected to create lucrative opportunities for the growth of the market.

The cost involved in the maintenance & retrofitting of accessories after installation is restricting the market growth.

In the market of Vertical Milling Machine, some of the key players are Mazak Corporation, TRIMILL, a.s., DMG MORI, JET Tools, Baileigh Industrial Holdings LLC., Haas Automation, Inc & Wells-Index.

Vertical Milling Machine Market Size, Share and Global Industry Trend Forecast till 2026
  • Apr, 2020
  • 2018
  • 2015-2017
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