3D Milling Machines Market Size is forecast to reach $12.3 billion

The Global 3D Milling Machines Market size is forecast to reach $12.3 billion by 2026, growing at a CAGR of 4.5% from 2021 to 2026. Growing shift towards customized production along with rising demand for manufacturing activities contribute as some of the prime factors driving the market growth for 3D milling multitasking machines. Compared to conventional ones, 3D milling machines offer higher accuracy, precision, versatility and higher degrees of freedom, which is also creating a positive impact towards its market growth. Growing demand for advanced materials towards developing lighter weight parts across automotive and aerospace industries along with increasing adoption in consumer electronics sector is set to drive the need towards 3D milling machines in the long run. However, rise of metro railway projects in developing economies is set to further propel the demand towards 3D vertical milling machines during the forecast period. The rising need for computer aided design, Computer Aided Manufacturing is driving the need for computer numerical control based 3D Milling machines.

3D Milling Machines Market Segment Analysis- By Axis Range 

Based on axis range, the 3D milling machines market had been segmented under 3-Axis, 4-Axis, 5-Axis, 6-Axis and Others. 5-axis segment is analysed to grow with the highest CAGR of 5.7% in the global 3D Milling Machines market during the forecast period 2021-2026. Utilizing 5-axis machining on a 3D milling machine helps the industrial manufacturers in approaching workpiece from any direction, making the movement of cutting tool more efficient, reliable and accurate. Deployment of 3D milling machines with 5-axes acts as a better alternative through ensuring production flexibility, combined with high cutting performance as well as maximized precision, which is a prime requirement for metal cutting applications across automotive, aerospace, and so on. In addition, these 3D milling machines are also capable of cutting a broad range of materials with hard cut issues, meant to serve application areas like tool making or mould making, demanding high accuracy and surface quality. Trends such as growing adoption of complex designed parts for automotive and aerospace markets are analyzed to significantly drive the market forward in the long run. Designing complex parts particularly for automotive and aerospace applications, makes the need for a multi-functional machining tool offering unparalleled precision, versatility and finish at shorter time intervals highly essential, thus impacting the growth of 5-axis 3D milling machines with 5-axis. With single step machining capability, these 3D milling machines helps in allowing better access to part geometry along with improving tool life as well as efficiency of the process through ideal cutting position variations according to requirements. These factors have been eventually propelling its market demand is further set to gain wide popularity across various end-use markets. In April 2021, one of the leading vendors of high performance polymer products, CDI Energy Products had revealed about the expansion of its service capabilities within its Singapore plant. Deployment of a 5-axis CNC milling machinery will be done as a part of performing metal machining with onsite milling operations for more than 300 engineering-grade plastics, high performance polymers and others. Such factors are further set to boost the market growth towards 5-axis 3D milling machines in the long run.

Request for Sample Report  @ https://www.industryarc.com/pdfdownload.php?id=19719

Report Price: $ 4500 (Single User License)

3D Milling Machines Market Segment Analysis- By End Users

Automotive sector is analyzed to account for the highest CAGR of around 8.7% in the global 3D Milling Machines market during 2021-2026. Automotive industry has been evolving overtime with advances towards designing, manufacturing, robotics with others, as a part of increasing automation. Transforming automotive manufacturing processes includes upgrading vehicle designs through innovating new auto part or components, in a move towards attracting more customers as well as increase business growth. Deployment of 3D milling machines helps the automakers to conduct activities ranging from drilling to boring, metal cutting, and others with computer control and automation, eventually making it an ideal choice for prototyping as well as production. Growing trends such as use of advanced materials for developing light weight auto parts or components having equivalent or superior physical properties like high tensile strength, temperature coefficients and many others, have been creating a positive impact on the growth of 3D milling machines. In addition, stringent governmental regulations regarding vehicle emission control, fuel economy and many others have been also encouraging automakers towards building lighter and more efficient vehicles overtime, thus driving the usage of advanced materials like non-ferrous alloys, composites and so on. According to a U.S based government agency, Office of Energy Efficiency and Renewable Energy, utilizing lightweight components and high efficiency engines made from advanced materials in one quarter, can help U.S fleet towards saving about more than 5 billion gallons of fuel annually by the year 2030. Rising investments towards electric vehicles or EVs overtime can help in propelling the demand for lightweight components, owing to prime requirements like improved efficiency, offsetting weight of power systems and so on. In June 2021, General Motors announced about increasing its investment of $20 billion to $35 billion as a part of supporting electric or autonomous vehicles by 2025. This investment will help in accelerating its Ultium batter production in U.S along with plans of establishing two manufacturing plants related to electric batteries, thus analyzed to further drive the market growth of 3D milling machines during the forecast period.

3D Milling Machines Market Segment Analysis- Geography

APAC region is analyzed to witness the highest growth with a CAGR of around 6.5% in the global 3D Milling Machines during the forecast period 2021-2026. This growth will be attributed to various factors including rising growth of manufacturing sector within China, India and so on along with shift towards automating industrial operations to boost productivity. Factors such as high investments towards establishment or expansion of industrial infrastructures, rapid industrialization, technologies advances towards developing customized innovative products and others is also set to fuel the growth towards 3D milling machines in the coming years. Governmental initiatives towards supporting the development of domestic products or establishing local industrial plants can further aid the growth of 3D milling machines. Rising investments towards electric vehicles across various Asian countries including India, Japan and so on along with surge of consumer electronics industry is anticipated to drive the need for metal cutting tools like 3D milling machines overtime in the long run. In May 2021, Nissan Motor Co. announced about its partnership with Chinese battery maker, Envision AESV Group as a part of building battery plants for electric vehicles within Japan through an investment of over 200 billion yen (around $1.82 billion). Such investments are set to drive the requirement of lighter parts manufacturing, eventually boosting the growth of 3D milling machines in the long run. In February 2021, the Indian Government announced about its aim of supporting local manufacturing of auto components as a part of reducing overseas dependency and incurred costs for the Indian carmakers. This move by the government towards supporting “Make in India program” will drive the vehicle part manufacturers to maximize the localization for eliminating the imports from overseas, thus creating a positive impact on the growth of 3D milling machines during the forecast period.

3D Milling Machines Market Drivers

Growing demand for advanced materials towards developing lighter weight parts across automotive and aerospace industries:

Growing demand for advanced materials towards developing lighter weight parts across automotive and aerospace industries is analyzed to act as a major driver boosting the market growth of 3D milling machines. With the rapid growth of these industrial sectors, manufacturers have been focusing on designing light weight vehicle parts for airplanes and automobiles, which can help in lesser fuel consumption, creating use of advanced materials. Trends such as complex or intricate designs for auto parts in order to gain customer’s attraction is also driving the need for machining tools capable of cutting advanced materials including light alloys, metal, carbon fibers and so on. Owing to light weighting design trends, the demand towards advanced materials like composites have been significantly growing overtime, thus affecting the need for 3D milling machines capable of offering high accuracy, precision as well as finish for even hard cut materials. Additionally, using lightweight structural materials for automotive or aerospace applications further helps in reducing the overall weight of the vehicles, ensuring addition of addition of integrated electronic systems, safety devices and so on. In September 2020, Clemson University had partnered up with the State of South Carolina in order to launch of an advanced materials research and development (R&D) center, named Clemson Composites Center for driving innovation across automotive as well as aerospace & defense clusters. Establishment of this center will be done to strengthen South Carolina’s national reputation towards innovative composites research, including the engineering of lighter, stronger, affordable as well as more sustainable composites for cars, planes and others. In March 2021, GKN Aerospace had revealed about its plans of leading a UK industry based consortium, named Aerospace and Automotive Supply Chain Enabled Development (ASCEND) with a funding of about £40m (around 55.45 USD). With the collaboration between industry leaders and the UK Government, this consortium was meant to develop as well as accelerate composite materials and process technologies, as a part of building energy efficient aircrafts, meeting future needs. Such initiatives will be helping towards the development of advanced materials, needed to manufacture lightweight structures for serving aerospace and automotive industry, thus boosting the growth for 3D milling machines in the long run.

Increasing adoption in consumer electronics sector drives the market forward:

Increasing adoption in consumer electronics sector can be considered as a major factor driving the market growth of 3D milling machines. Smartphones, laptops, and televisions with many others are some of the most demanding and popular consumer electronics products, which require the need for precision machining tools for producing various parts or components. Adoption of 3D milling machines help in conducting mass production of metal parts or casings required with the smartphones, laptops, and so on, through high levels of precision and accuracy. Due to capabilities of processing both conductive as well as non-conductive metals, 3D milling machines have been gaining wide popularity across consumer electronics applications, making it a versatile option in comparison to traditional machining methods. With the help of 3D milling machines, electronic part manufacturers are able to design components within a short timeframe, alongside overcoming the quality limitations associated with additive manufacturing processes, thereby raising its adoptability across one of the fastest growing sectors like consumer electronics. With surge of demand towards lightweight smartphones, laptops and many others, some of the leading electronics brand like Samsung, Xiaomi, RealMe and many others have already started investing towards R&D activities for manufacturing smartphones with lighter weight in order to mark its competitive edge in the consumer markets. In July 2021, Realme had revealed about its plans of launching 5G budget light weight designed smartphones under 10,000 price segment in the Indian markets by 2022. Manufacturing of such smartphones will involve the use of versatile and efficient machining tools capable of offering higher accuracy and precision during metal casting operations, thereby analyzed to drive the market demand towards 3D milling machines during the forecast period.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=19719

3D Milling Machines Market Challenges

Growing adoption of substitutes such as 3D Printing:

Growing adoption of substitutes such as 3D printing act as one of the major factors restraining the market growth of 3D milling machines. Adoption of 3D printing tools have been facing a significant growth over the years due to its benefits including freedom of shape combined with high speeds and accuracy. Deployment of a 3D printer help the end users in maximizing their business operations at low costs, eliminating the need for investing on expensive milling machines. In addition, with reducing manual supervision requirements, 3D printing helps in performing repeated and continuous operations which raises overall labour costs for the organization. Advantages like ease of operation, faster prototyping or part requirement, low maintenance and many others, act as some of the prime factors driving the shift towards leveraging 3D printing technology, particularly for low volume production. Moreover, 3D printing helps in reducing unused waste quantity, capable of eliminating the need for disposals by the industrial manufacturers as well as making it an environment friendly tool, thus hampering the market growth towards 3D milling machines which generate bulk amounts of material wastage.

3D Milling Machines Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the 3D Milling Machines market. The key players in the 3D Milling Machines market include Ronald DGA Corporation, DATRON Dynamics Inc., Haas Automation Inc., DMG Mori Seiki Co., Okuma Corporation, Yamazaki Mazak Corporation, Amera-Seiki Corp., Amada Co Ltd., Dalian Machine Tool Group Corporation and Shenyang Machine Tool Co. Ltd. among others. 

Acquisitions/Technology Launches/Partnerships

In June 2020, Okuma Corporation announced about the launch of a bridge styled machining center, named MB-80 V, as a part of addition to its product line of CNC metal cutting machines. This development was done to offer extreme machining flexibility owing to combination of vertical as well as double-column machining capabilities, followed with a moving table functionality. 

In May 2020, Yamazaki Mazak announced about the launch of a high accuracy 5-axis vertical machining centre, named Variaxis C-600, as a successor to its existing product, Variaxis j-600/5X. This development was done in order to offer a high performance as well as cost-effective 5-axis solution, for serving a broad range of industries, including automotive and aerospace markets.

Key Takeaways

Growing demand for advanced materials towards developing lighter weight parts across automotive and aerospace industries as well as increasing adoption in consumer electronics sector is analysed to significantly drive the 3D Milling Machines market during 2021-2026.

5-axis 3D milling machines market is analysed to grow with the highest CAGR during the forecast period 2021-2026, attributing to factors such as improved cutting efficiency, high precision, single step machining with others.

APAC is anticipated to account for the fastest growing region during 2021-2026, owing to growing preferences towards automated industrial operations, rise of expansion projects related to different end-use industries overtime and so on.

Related Reports

A.Image Sensors Market

https://www.industryarc.com/Report/15000/image-sensors-market.html

B.Wireless RAN Market

https://www.industryarc.com/Report/15088/wireless-ran-market.html

For more Electronics Market reports, please click here