Technavio, a tech-focused market research firm, has published a new study on the global milling machines market, which is expected to grow at a CAGR of close to 6% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global milling machines market into the following key regions: The Americas, APAC, and EMEA.
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Top three contributors for the global milling machines market are elaborated below:
Milling machines market in APAC: China, Malaysia, South Korea, India, and Indonesia are some of the key revenue generating countries in the market for milling machines in APAC. The possible hike in investments by major end-user industries, such as automobiles is expected to drive the growth of the market in this region during the forecast period.
According to Anju Ajaykumar, a lead analyst at Technavio, specializing in research on tools and components, “Two-wheelers are considered as an economical alternative to cars and are highly preferred over walking, cycling, and public transport systems. The rise in demand for two-wheelers in Asian countries such as China, India, and Thailand is propelling the demand for milling machinery from the automobile sector in the region.”
Milling machines market in EMEA: Countries such as the UK, Italy, and Germany are the major consumers of milling machines in the European market owing to the presence of multinational automobile giants and aerospace companies in the region. The growth of the commercial and residential sector and construction sector in Europe during the forecast period is also expected to reflect positively on the growth of the milling machines market in EMEA.
Milling machines market in the Americas: The US has the largest share of the machining center market in this region owing to the thriving automobile, aerospace, and metal fabrication industries in the country. Other industries like heavy machinery and electrical equipment are also growing steadily due to the rise in the production of shale gas, adding to the demand for milling machines in the Americas.
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The leading vendors operating in the global milling machines market are:
- Dalian Machine Tool Group
- DMG MORI
- GF machining solutions
- Shenyang Machine Tools Co., Ltd.
- Yamazaki Mazak
Other prominent vendors in the market include Breton, Bridgeport, Brother Industries, CHIRON Werke, Correanayak, DANOBATGROUP, Datron, Doosan Machine Tools, EMCO, Eumach, FERMAT, Fidia, Fryer Machine Systems, Fuji Machines, F.Zimmermann, GILDEMEISTER, Gleason, GROB GROUP, Haas Automation, Hangzhou Datian CNC Machine Tool, HELLER, Hurco, HURON GRAFFENSTADEN, JIUH-YEH PRECISION MACHINERY, JMT, KERN Microtechnik, Kitamura Machinery, Komatsu, Long Chang Machinery, MAG, Makino Milling Machine, Matsuura Machinery, Okuma, PAMA, Schuler, Strojimport, Top-One Machinery, Toyoda, TRUPRO-TEC Industrial, Yeou Eri Shuen Machinery, and ZAYER.
A more detailed analysis is available in the Technavio report titled, ‘Global Milling Machines Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Construction Machinery Market 2016-2020
- Global Industrial Gearbox Market 2016-2020
- Global Lathe Machine Market 2016-2020
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