The global Machining market reached a value of about USD 367 billion in 2021. The industry is projected to grow at a CAGR of around 4% in the forecast period of 2022-2027 to reach a value of about USD 465 billion by 2027.
The global Machining industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The industry is being driven by the increasing demand from sectors like Automotive and Transportation, Electrical/Electronic, among others. China is the highest category spender by region, driving the need for the Machining Industry.
Machining is a prototype and manufacturing technique that removes undesired material from a larger piece of material to obtain the desired final shape. Subtractive manufacturing refers to the procedures with this typical pattern instead of additive manufacturing, which involves the controlled addition of material. The Machining industry report comprises segments by end-use (Automotive and Transportation, Electrical/Electronics Industry, Aerospace Industry, Construction and Mining Industry) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
China holds the largest share in the industry due to the rising number of building activities in the region and increased government spending on infrastructure development.
The industry is being driven by the growing demand from end-user sectors, including automotive, electrical, etc. Heavy equipment, engineered components, watch industries, sub-assemblies, defence, marine, and medical device machining significantly contribute to the machining market. Furthermore, the rising number of building activities in emerging nations and increased government spending on infrastructure development would aid the expansion of the metal machining market. Growing demand in the oil and gas industry is propelling the market forward.
However, raw material price variations are likely to hamper the market growth.
The global Machining industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Machining regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
Turning, drilling, and milling are the three most common machining techniques. The primary way of pushing metal against the cutting tool in turning operations is to rotate the workpiece. The most common machine tool used in turning is the lathe. Milling procedures involve rotating the cutting tool to bring the cutting blades into contact with the workpiece. Milling machines are the most common milling machine tool. Drilling activities include getting a revolving cutter with cutting edges at the lower extremities into contact with the workpiece to create or refine holes. Drilling is usually done in drill presses, but it can also be done on lathes or mills.
The industry is being driven by the Current technology alternatives such as 3D printing and additive manufacturing. Additive manufacturing or 3D technology can be employed to make products of any shape or geometry; this will assist in material properties like strength and quality, reduce cost, etc., which will likely give the market a significant thrust. 5-axis machine tools have made a substantial difference in the machining business by enhancing efficiency, lowering cycle time, and reducing material waste. The machining market is augmenting owing to the following developments.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The metal machining market is highly fragmented, and providers plan to differentiate themselves by innovating and customising solutions. This metal machining market prediction research includes a complete study of the market leaders to assist clients in improving their market position.
1. Executive Summary
2. Machining Market Snapshot
2.1. Machining Market Outlook
2.2. Machining Industry Analysis By End-Use
2.2.1. Automotive and Transportation
2.2.2. Electrical/Electronics Industry
2.2.3. Aerospace Industry
2.2.4. Construction and Mining Industry
2.3. Regional/ Country Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
2.3.5. Middle East and Africa
3. Impact of Recent Events
4. Machining Value Chain Analysis
5. Machining Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Machining Cost Structure
9. Machining Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Machining Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. Swot Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New Entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Jinbo Precision Mechanical CO.,LTD
14.2. SuNPe Inc.
14.3. MESIT Machining, s.r.o.
14.4. Gensun Precision Machining Co., Limited
14.5. SPS Manufacturing PTY Ltd.
The global Machining market size was valued at USD yy billion in 2021.
As per the end-use provided, the Automotive and Transportation segment is anticipated to lead the market between 2022 and 2027.
The significant demand for the manufacturing of various goods is one of the essential drivers of the Machining market growth.
Jimbo Precision Mechanical Co. Ltd., SuNPe Inc., MESIT Machining,s.r.o, Gensun Precision Machining Co., Limited, and SPS Manufacturing PTY. Ltd. are some of the key players in the market.
The China region of the Machining industry holds a significant share in the market.
The global Machining market attained a value of USD 367 billion in 2021, driven by the growing demand from end-user sectors, including automotive and electrical. Furthermore, the rising number of building activities in emerging nations and increased government spending on infrastructure development would aid the expansion of the metal machining market. The increasing oil and gas industry demand is furthering the market expansion. Aided by the growing technological advancements, like 3D printing, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4%. The market is projected to reach USD 465 billion by 2027. Some of the leading players in the industry are Jimbo Precision Mechanical Co. Ltd., SuNPe Inc., MESIT Machining, s.r.o, Gensun Precision Machining Co., Limited, and SPS Manufacturing PTY. Ltd.
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