The global CNC milling machine market was US$ 13.9 billion in 2021. The global CNC milling machine market is forecast to grow to US$ 25.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Milling is a machining process used to cut metal, wood, and other hard materials. CNC milling machines are highly deployed to cut the precise size and shape of the object and develop a large variety of features.

Factors Influencing the Market

CNC milling machine finds their wide applications in automotive, aerospace, electrical & electronics. Thus, the wide applications of CNC milling machines will benefit the global CNC milling machine market.

Growing investments in industrial activities and increasing defense expenditure will contribute to the growth of the market. In addition, the rapidly growing automotive industry will also benefit the global CNC milling machine market.

CNC machines reduce the cost associated with a single operator. In addition, the high productivity and speed of milling machines will contribute to the growth of the market. In addition, high operation efficiency and ease of use will surge the demand for CNC milling machines from end-use industries.

The rising demand for electronics will also surge the growth of the global CNC milling machines market during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic restricted the potential growth of many industries, such as automotive, electronics, airlines, etc. Pandemic led to halting various industrial activities, which negatively impacted the global CNC milling machine market. In addition, the unavailability of raw materials hampered the manufacturing of CNC milling machines. Thus, it hampered the growth of the CNC milling machines market.

Regional Analysis

The Asia-Pacific CNC milling machines market is forecast to grow at the fastest growth rate due to increasing industrialization in the region. In addition, the rising automotive industry and growing investments in the aerospace industry will benefit the regional CNC milling machines market. The market will also witness significant growth opportunities in the region due to the growing electronics industry. Furthermore, rising automation and increasing investments in R&D activities will contribute to the growth of the CNC milling machines market during the study period.

Competitors in the Market

Doosan
Fives
F-Zimmermann
Jtekt
Makino
Ace Micromatic Group
Chiron Group SE
General Technology
DMG Mori
Electronica Hitech
Falcon Machine Tools
GF Machining
Gleason Corporation
Grob-Werke
Haas Automation
Hyundai Wia
Komatsu
Okuma Corporation
Schuler AG
600 Group
Spinner
Yamazaki Mazak
Other Prominent Players
Market Segmentation

The global CNC milling machines market segmentation focuses on Product, Axis, End-User, and Region.

By Product Type Outlook

Vertical CNC Milling Machines
Horizontal CNC Milling Machines
Universal CNC Milling Machines
By Axis Type Outlook

3-Axis
4-Axis
Other-Axes
By End-User Outlook

Automotive
Electrical & Electronics
Aerospace & Defense
Others
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America