NEW YORK, Nov. 22, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global metal machining market market size is estimated to grow by USD 18.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.03% during the forecast period. Growing demand for metal machining in oil and gas industry is driving market growth, with a trend towards growing adoption of automation in metal machining. However, high costs associated with metal machining industry poses a challenge. Key market players include AMADA Co. Ltd., Atlas Copco AB, Bystronic Laser AG, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co. Ltd., IPG Photonics Corp., Jet Edge Inc., JTEKT Corp., Matsu Manufacturing Inc., Messer Cutting Systems Inc., Okuma Corp., Otter Tail Corp., Sandvik AB, Shenyang Yiji Machine Tool Sales Co. Ltd., TRUMPF SE Co. KG, Yamazaki Mazak Corp., FANUC UK Ltd, Mayville Engineering Co. Inc., and Jenoptik AG.

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Market Driver

The Metal Machining Market is experiencing significant trends in machine tools, CNC technology, and automation. CNC lathes, CNC laser machines, and specialized machines like teach-T are popular choices for metalworking processes. Vendors like HireCNC, NUM, and Synthesis offer comprehensive data and reliable market analysis, helping small and medium-sized businesses make informed vendor selections. Advancements in technology include innovative cutting tools, efficiency improvements, waste reduction, and product quality enhancement. Smart cutting tools and performance optimization are key to increasing productivity and accuracy. Predictive analytics and real-time quality assurance are essential for maintaining high product quality. Sectors like automotive, aerospace, construction, and industrial manufacturing are major consumers of metal components and require precision and quality. Key sectors include automotive for mass production, aerospace & defense for high-performance components, and industrial machinery for heavy-duty applications. The market landscape includes various tools and equipment like metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. IoT integration and 3D printing are also transforming the industry. Despite the high initial cost, the benefits of CNC technology and automation outweigh the investment for profitability and production efficiency. Vendor analysis is crucial for selecting the right CNC machines, PLCs like Codesys V3, and ARM CPUs for optimal performance. 

Vendors in the metal machining market are enhancing their product offerings by incorporating automated equipment in their machining and fabrication shops. Automation streamlines production processes, boosts productivity, and maximizes machine uptime. Continuous operation of automated systems leads to increased output. Automation offers design flexibility, enabling precise parts production with tight tolerances and unique configurations. It is a cost-effective and efficient method for manufacturing intricate products with high accuracy. 

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 Market Challenges

• The Metal Machining Market is a significant sector, encompassing machine tools, machinists, CNC technology, and various tools and equipment for metal cutting. Challenges include high initial costs, fluctuating raw materials, and the need for automation and profitability in production facilities. CNC lathes, CNC laser machines, and specialized machines like CNC milling machines dominate the market. Sectors like automotive, aerospace, construction, and industrial manufacturing utilize these machines for metalworking processes, prioritizing quality, precision, and efficiency. Advancements in technology bring innovative cutting tools, smart cutting tools, and performance optimization. Vendors like HireCNC, NUM, and FlexiumPro CNC platform offer solutions with CNC technology, IoT, and real-time quality assurance. Vendor selection is crucial for accurate market data, with reliable data analysis essential for profitability. Market sectors include automotive, aerospace, construction, industrial manufacturing, and more. Key players include CNC machines, saws, grinders, shears, gearboxes, disk brakes, and clutch plates. Cross-border trade and 3D printing are emerging trends. Vendor landscape analysis, including Codesys V3 PLC, ARM CPU, and Synthesis, is crucial for informed decision-making. Predictive analytics and quality assurance are essential for productivity increase and accuracy improvement.
• The global metal machining market involves the use of equipment such as CNC machines, lathes, and milling machines for metal fabrication. The high cost of purchasing and maintaining this machinery may restrict entry for small manufacturers and startups, potentially limiting market expansion. Energy consumption is significant in metal machining processes, particularly during cutting, shaping, and finishing operations. Energy-intensive processes increase operating costs, especially in areas with high electricity prices or limited energy access. Regular maintenance, repairs, and equipment upgrades are necessary for optimal performance and productivity, adding to expenses through spare parts, servicing contracts, and machine downtime.

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Segment Overview 

This metal machining market market report extensively covers market segmentation by

1. Application 
   • 1.1 Automotive
   • 1.2 Construction
   • 1.3 Aerospace
   • 1.4 Others
2. Type 
   • 2.1 Laser cutting machine
   • 2.2 Plasma cutting machine
   • 2.3 Flame cutting machine
   • 2.4 Waterjet cutting machines
3. Geography 
   • 3.1 APAC
   • 3.2 North America
   • 3.3 Europe
   • 3.4 South America
   • 3.5 Middle East and Africa

1.1 Automotive- The automotive industry is a major consumer of metal machining products, accounting for a significant share of the global metal machining market. Metal parts, including bus bars, electrical contacts, terminals, lead frames, shields, and clips, are extensively used in various vehicle components such as chassis, fuel delivery systems, motors, engines, batteries, alternators, and brake systems. The increasing demand for personal mobility solutions, particularly in urban areas, is driving the growth of the automotive industry. Factors like population growth and government initiatives, such as incentives and regulations promoting electric vehicle adoption, are further fueling this demand. For instance, in Europe, new car registrations grew by 17.8% between June 2022 and June 2023. In India, electric vehicle sales increased by around 49.25% year-on-year to 15,29,947 units in 2023. Major automotive manufacturers, like Toyota and Volkswagen, are expanding their manufacturing capacity and introducing new models to cater to this growing demand. These developments will increase the need for metal machining products, thereby driving the growth of the global metal machining market.

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Research Analysis

The Metal Machining Market encompasses a comprehensive range of machine tools and equipment used for metal cutting and shaping. Machinists utilize various tools such as CNC lathes, milling machines, saws, grinders, shears, and specialized machines to manufacture metal components. The integration of advanced technologies like E and P systems, Industry 4.0, and automation has significantly increased profitability and production efficiency. The market is witnessing in demand for 3D printing technology, which is revolutionizing metal machining by enabling rapid prototyping and customization. Handheld devices and metal cutting tools are also gaining popularity due to their portability and ease of use. The Metal Machining Market continues to evolve, offering endless opportunities for innovation and growth.

Market Research Overview

The Metal Machining Market encompasses a comprehensive data analysis of machine tools, including CNC lathes, CNC laser machines, and specialized machines, used for metal cutting and shaping in various sectors such as automotive, aerospace, construction, industrial manufacturing, and metalworking processes. The market is driven by advancements in technology, innovations in CNC technology, and automation, leading to improvements in product quality, efficiency, and productivity. The integration of Industry 4.0, IoT, and big data analytics enables real-time quality assurance and predictive analytics for profitability and performance optimization. Vendor landscape includes key players offering solutions such as HireCNC, NUM, FlexiumPro CNC platform, Codesys V3 PLC, ARM CPU, and more. The market caters to small & medium-sized businesses and large-scale production facilities, with sectors like automotive and aerospace leading in mass production. The market includes various metal cutting tools, handheld devices, saws, grinders, shears, and specialized machines. The market faces challenges such as high initial costs and fluctuating raw material prices. Cross-border trade is a significant factor in the market's growth, with various industrial machinery sectors like food & beverage, aerospace & defense, military equipment, and transport machinery utilizing metal machining technologies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• • Automotive
  • Construction
  • Aerospace
  • Others
• Type
• • Laser Cutting Machine
  • Plasma Cutting Machine
  • Flame Cutting Machine
  • Waterjet Cutting Machines
• Geography
• • APAC
  • North America
  • Europe
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio