Report : North America 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 9.8% CAGR, the North America CNC Milling Machines Market is speculated to be worth US$ 2602.95 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the North America CNC milling machines market was valued at US$ 1,629.30 million in 2023 and is expected to reach US$ 2,602.95 million by 2028, registering a CAGR of 9.8% from 2023 to 2028. Surge in automotive production and increase in production of military aircraft are the critical factors attributed to the North America CNC milling machines market expansion.
The automotive industry across the region is experiencing significant changes such as rise in production of electric vehicles and autonomous vehicles. Many automotive manufacturers have increased their production through the adoption of automation and production plant expansion across the region. A few of the new manufacturing plants opened in recent years. For instance, In September 2023, Continental unveiled its new automotive production plant in Texas with an investment of US$ 110 million. The opening of new production plants across the region is contributing to the rise in vehicle production. CNC milling machines are used widely for automotive production, including the manufacturing of several parts such as interior panels, gearboxes, custom parts, and motors. Thus, the growing automotive production across the region is driving the demand for CNC milling machines, thereby contributing to the growth of the North America CNC milling machines market.
On the contrary, availability of alternate manufacturing methods hurdles the growth of North America CNC milling machines market.
Based on structure, the North America CNC milling machines markets is segmented into gantry, moving table, fixed table, and column type. The gantry segment held 51.0% market share in 2023, amassing US$ 831.00 million. It is projected to garner US$ 1,342.07 million by 2028 to expand at 10.1% CAGR during 2023–2028.
Based on x-axis working range, the North America 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 40.1% market share in 2023, amassing US$ 653.72 million. It is projected to garner US$ 1,001.98 million by 2028 to expand at 8.9% CAGR during 2023–2028.
Based on number of axis, the North America CNC milling machines market is segmented into 3-axis, 4-axis, 5-axis, and others. The 3-axis segment held 55.1% market share in 2023, amassing US$ 897.26 million. It is projected to garner US$ 1,379.18 million by 2028 to expand at 9.0% CAGR during 202-2028.
Based on application, the North America CNC milling machines market is segmented into automotive & transportation, aerospace & defense, oil & gas, and others. the automotive & transportation segment held 38.0% market share in 2023, amassing US$ 619.68 million, it is projected to garner US$ 1,017.93 million by 2028 to expand at 10.4% CAGR during 2023-2028.
Based on country, North America CNC milling machines market has been categorized into US, Canada and Mexico. Our regional analysis states that US captured 74.4% market share in 2023. It was assessed at US$ 1,212.81 million in 2023 and is likely to hit US$ 1,983.61 million by 2028, exhibiting a CAGR of 10.3% during the forecast period.
Key players dominating the North America CNC milling machines market are Amera-Seiki Corp, AWEA Mechantronic Co Ltd, EMCO Gmbh, Fives SAS, JOBS SpA, KRC Machine Tool Solutions, 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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