The global vertical milling machines market is predicted to grow considerably throughout the forecast period. The use of metal, plastic, and wood in various industries has significantly increased in the past few years, which has fuelled the demand for efficient and accurate metal working machines. Milling is a common process in which as machine consisting of a rotating cutting tool, removes or chisels material from a stationary workpiece. Vertical milling machines consist of vertically mounted spindles. These are precision metal working machines that can perform a range of functions such as filleting, turning, slot cutting, chamfering, drilling, facing, and gear cutting. Vertical milling machines are more economical than horizontal cutting machines. Thus, multifunctionality and cost-efficiency are the major driver in the growth of the vertical milling machines market. The adaptation of computer numerical control (CNC) for machine input further increases the efficiency of vertical milling machines.
Description
A vertical milling machine typically consists of a self-contained electric drive motor, coolant system, digital readout, variable spindle speed, and a power operated or manual table feed. In a vertical milling machine, the vertically mounted cutter is designed to rotate at variable speeds to alter the stationary workpiece as per requirement. Vertical milling machines are multifunctional and can even drill hole of larger diameters, which eliminate the necessity of a dedicated large hole drilling machine. The ability of these machines to easily be adjusted and maneuvered according to the required shape, ensure considerable growth of vertical milling machines market in the next few years.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down the production of various end users in the vertical milling machines industry attributed to the lockdown in countries worldwide. This has hampered the growth of the market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of vertical milling machines since second quarter of 2020, due to the steep decline in manufacturing activities and is anticipated to cause a negative impact on the market growth throughout the 2021.
- The major demand for vertical milling machines was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus; thereby, declining the demand for vertical machining centers.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Vertical milling machines manufacturers can afford declining sales only for a few months, after which the players have to modify their investment strategies. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- With the increasing number of vaccinations and leniency in restrictions laid by the government, the manufacturing industry has shown signs of recovery which is a positive factory for the vertical milling machines market.
Top Impacting Factors
The increasing population and industrialization have drastically driven the demand for various metal and non-metal components. Major component fabrication companies across the globe are facing a challenge to cope with the increased market demand for quality and quantity, which is a major driving factor in the growth of vertical milling market. The implementation of business-friendly tax policies in emerging economies has led to the rise of industries in countries such as India, Mexico, China, Vietnam, Bangladesh, Brazil, and many other countries, which has positively influenced the growth of the vertical milling machines market. Vertical milling machines are more economical and also offer more usability than horizontal milling machines. These machines can be used to clean the surface of workpiece, shape the workpiece as required, and produce slots of required shape and depth, which make it applicable in various industries such as automotive, aerospace, defence, and other fabrication industries. The usability of vertical milling machines depends on its attachments, software packages, and other configurations, which increase the cost of the machines, this can be unfeasible for small scale industries which is a major restraint in the growth of the vertical milling machines market. The worldwide adoption of industry 4.0, and its aim for continuous and efficient production process is an opportunity for the growth of vertical milling machines as it offers accuracy and multifunctionality.
Market Trends
- The key players in the industry are investing more resources in development of more accurate and efficient machines. The development of automated milling machines, which require less energy and man power is an increasing trend.
- TRIMILL, a.s introduced VU3525, which is a rigid 5-axis machine in late 2018, which was later installed at Concours Mold Ins., which is a Canadian mold manufacturing company.
- In April 2020, Geng-Shuen Co., Ltd., a Taiwan based machine manufacturer, introduced a new range of vertical milling machines, which offered a longer Y-axis to enable wider movements of the machine for enhanced performance.
- Collaborations is another key strategy adopted by major players in the industry. For instance, Yamazaki Mazak Corporation, a Japanese machine builder has announced “Mazak Solution Partners” that feature collaboration with robot manufacturers and software companies to develop more efficient solutions for the challenges faced by the manufacturing industry.
Key Benefits of the Report
- This study presents the analytical depiction of the vertical milling machining centers industry along with the current trends and future estimations to determine the imminent investment pockets. Milling Machines
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the vertical milling machines market share.
- The current market is quantitatively analyzed to highlight the vertical milling machines market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed vertical milling machines market analysis based on competitive intensity and how the competition will take shape in coming years.
Vertical Milling Machines Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Material |
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 By Applications |
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 By End User Industry |
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 By Business Type |
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 By Region |
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 Key Market Players | Hurco Companies, Inc., Yamazaki Mazak Corporation, Okuma America Corporation, TRIMILL, a.s, DMG MORI., Hermle AG., Amera Seiki Corporation, MPM Pvt Ltd., Haas Automation, Inc., FANUC Corporation, AMADA Co., Ltd. |
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