Report : Asia Pacific CNC Milling Machines Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by structure (gantry, moving table, fixed table, and column type), x-axis working range (less than 2000 mm, 2001 mm to 5000 mm, 5001 mm to 7000 mm, and above 7000 mm), number of axis (3-axis, 4-axis, 5-axis, and others), and application (automotive & transportation, aerospace & defense, oil & gas, and others)
At 11.5% CAGR, the Asia Pacific CNC Milling Machines Market is speculated to be worth US$ 6,479.46 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Asia Pacific CNC milling machines market was valued at US$ 3,405.80 million in 2022 and is expected to reach US$ 6,479.46 million by 2028, registering a CAGR of 11.5% from 2022 to 2028. Integration of smart manufacturing technology with CNC milling machines and rise in new product development by CNC milling machines are the critical factors attributed to the Asia Pacific CNC milling machines market expansion.
Smart manufacturing, over the years, has gained momentum across all manufacturing plants, including electronics, automobiles, and aircraft. Smart manufacturing enables automation across production plants, thereby reducing operational time and cost. Asia Pacific CNC milling machines are being increasingly integrated with smart manufacturing technology as it allows program-specific machining operations. This is enabling the manufacturers to enhance the precision and accuracy of operations by reducing human error. Further, the integration of smart manufacturing technology with CNC machining is also enabling the automation of repetitive functions. Thus, the integration of smart manufacturing technologies with CNC milling machines is expected to contribute to the growth of the CNC milling machines market over the forecast period.
On the contrary, availability of alternate manufacturing methods hurdles the growth of Asia Pacific CNC milling machines market.
Based on structure, the Asia Pacific CNC milling machines markets is segmented into gantry, moving table, fixed table, and column type. The gantry segment held 57.2% market share in 2023, amassing US$ 2,148.14 million. It is projected to garner US$ 3,744.21 million by 2028 to expand at 11.8% CAGR during 2023–2028.
Based on x-axis working range, the Asia Pacific CNC milling machines market is segmented into less than 2000 mm, 2001 mm to 5000 mm, 5001 mm to 7000 mm, and above 7000 mm. The less than 2000 mm segment held 42.4% market share in 2023, amassing US$ 1,591.69 million. It is projected to garner US$ 2,647.20 million by 2028 to expand at 10.7% CAGR during 2023–2028.
Based on number of axis, the Asia Pacific CNC milling machines market is segmented into 3-axis, 4-axis, 5-axis, and others. The 3-axis segment held 54.0% market share in 2023, amassing US$ 2,028.42 million. It is projected to garner US$ 3,366.50 million by 2028 to expand at 10.7% CAGR during 2023-2028.
Based on application, the Asia Pacific CNC milling machines market is segmented into automotive & transportation, aerospace & defense, oil & gas, and others. the automotive & transportation segment held 39.5% market share in 2023, amassing US$ 1,484.17 million, it is projected to garner US$ 2,603.54 million by 2028 to expand at 11.9% CAGR during 2023-2028.
Based on country, Asia Pacific CNC milling machines market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 40.5% market share in 2023. It was assessed at US$ 1,521.70 million in 2023 and is likely to hit US$ 2,732.45 million by 2028, exhibiting a CAGR of 12.4% during the forecast period.
Key players dominating the Asia Pacific CNC milling machines market are AWEA Mechantronic Co Ltd, EMCO GmbH, Fives SAS, JOBS SpA, Nidec Corp, Okuma Corp, Pietro Carnaghi SpA among others.
- In 2023, TOS VARNSDORF, a.s. is the solver of the project "Setup of a demonstrator for a milling CPPS." The project runs from November 2021. The "milling CPPS" demonstrator belongs to the field of metal-cutting manufacturing. There, the demands on quality and productivity are constantly increasing.
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