The global machining centers market was valued at around $4 billion in 2015 and is expected to surpass $5 billion by 2020, says Technavio.
Technavio has announced its latest market research report on global machining centers market to its engineering tools portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global machining centers market during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Dalian Machine Tool Group, DMG Mori, Shenyang Machine Tool, and Yamazaki Mazak.
In terms of geographical analysis, APAC will be the fastest growing region in the global market, at a CAGR of almost 7% by 2020. China and India will emerge as the key revenue-generating countries in the region.
“6-axis CNC machine is an innovation that converts a raw metal bar into the final product by turning from both the ends of the fixture without multiple fixtures and defects in the final machine. The use of the 6-axis CNC machines enables complex work like drilling holes of different diameters, shapes and have variable cutting speed and patterns. It has a smoother application process, and the quality of the final product is superior to 5-axis CNC machine,” says Gaurav Mohindru, a lead analyst at Technavio for research on engineering tools.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Single machines that enable multiple operations
The increasing demand for enhanced productivity and reduced process time from industries like automotive sector is prompting manufacturers to introduce machine centers that carry out various operations like milling, drilling, facing, and turning. The launch of new technology like 5-axis and 6-axis CNC machines allows end-users to carry out all operations on a single machine. The machine centers need to modify or change the corresponding tool or the software control system during each operation. The multi-function machines are provided with one or more turrets which allow the consumers to use the same turning tools for various functions. The ability to move the spindle in and around the B-axis and to change tools automatically is increasing the demand for turning tools.
Technological advances redefining CNC machining
The introduction of various innovative technologies is revolutionizing the machining centers market globally. The interpolation of non-uniform rational basis spline (NURBS) is helping the die and mold industry. This enables the 5-axis CNC machines to deliver better surface finish, faster cutting rates, and smoother motor performance. The faster processing systems aid in achieving error-free final products, provide better control and upgraded acceleration and deceleration in S-curves. The implementation of digital servo systems enables connectivity among drivers and CNC machine centers offering better and faster signal processing.
Growing demand for fabricated metal products
The production of fabricated metal products is rising the requirement for machine tools. The US-manufactured fabricated metal products have the highest demand across the globe. Specialty product manufacturers in the US are Ball Corporation, Flowserve, The Timken Company, Snap-On, and Mueller Industries. The increasing demand for fabricated metals is augmenting the rise of several manufacturing facilities across the globe.
Other prominent vendors identified in this report are Allied Machine & Engineering, Amada, AMERASEIKI, BYJC-OKUMA (Beijing) Machine Tools, Doosan, Doosan Infracore, ENSHU, Fair Friend, FANUC, GF Machining Solutions, Haas Automation, Hardinge, Heller, HMT, HURCO, Hyundai WIA, Jiuh-Yeh Precision Machinery (MillStar), JTEKT, Kennametal, KIWA Japan, Komatsu, Maco, Makino Milling Machine, Matsuura, Micromatic, OKK, Sandvik, SISTER-CNC, SNK, Tongtai Machine & Tools, Toshiba Machine, Toyoda, Yama Seiki, and YCM.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Machining Centers Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Metal Forming Machine Tools Market 2016-2020
- Machine Tools Market in US 2015-2019
- Machine Tools Market in China 2015-2019
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