Automation Is Transforming the Global Machining Market

Fri, 07 Feb 2025 13:03:24 +0000

The machining market includes a variety of products such as lathes, mills, grinders, drilling machines, and others that are used to remove unwanted material from metal or plastic workpieces to give them a desired shape and size. Machining offers precision and improved surface finish compared to other metalworking techniques. Machines enable highly accurate and complex manufacturing of parts for various end-use industries.The machining market is estimated to be valued at USD 402.56 Bn in 2024 and is expected to reach USD 625.55 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.