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Vertical Milling Machine Market to Reach USD 8.77 billion by 2026; Increasing Number of Product Launches Will Aid Growth, says Fortune Business Insights™

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Pune, April 17, 2020 (GLOBE NEWSWIRE) — The global vertical milling machine market size is projected to reach USD 8.77 billion by the end of 2026. The increasing adoption of modern technologies will aid growth. According to a report published by Fortune Business Insights, titled “Vertical Milling Machine Market Size, Share and Global Trend, By Type (Turret Mills, Bed Mills, and Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others) and Regional Forecasts, 2019-2026,” the market was worth USD 6.91 billion in 2018 and will exhibit a CAGR of 3% during the forecast period, 2019-2026.A vertical milling machine is used for cutting purposes in industrial as well as domestic applications. The primary difference between a vertical and horizontal machine is that the rotor and shaft are aligned in a vertical way. The movement of these shafts is also in the upward or downwards motion. The use of modern concepts has allowed improved product efficacies. Conventional milling machines would possess drawbacks such as low accuracy and excess wastes, in addition to the large weight of the system. The growing use of technologically sound systems and advanced concepts have helped overcome these drawbacks to a significant level. The increasing emphasis on the integration of modern concepts and technologies will emerge in favor of the growth of the market in the forthcoming years.
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The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches has made a huge impact on the growth of the market. In October 2019, DMG MORI announced that it plans to offer digital connectivity as a standardized service. The company will look to offer these services for purposes such as networked production and service optimization. This will further help customers possess an open interface for future-oriented integration of machines. The ease of use offered by digital connectivity services will help the company generate huge sales in the coming years. Moreover, this will have a direct impact on the growth of the market in the coming years.The report analyzes the ongoing Vertical Milling Machine market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in Asia Pacific held the largest market share in 2018. The presence of several large scale companies, driven by the growing demand for the products in several countries across this region has emerged in favor of market growth. As of 2018, the market in Asia Pacific was worth USD 3.49 billion and this value is projected to increase further in the coming years. The market in Europe will emerge as the second largest market in the coming years, owing to the emphasis on energy efficient systems in several countries across this region.List of the leading companies that have been profiled in the Vertical Milling Machine Market report include:Mazak CorporationTRIMILL, a.s.Maschinen Wagner Werkzeugmaschinen GmbHDMG MORIJET ToolsBaileigh Industrial Holdings LLC.Haas Automation, Inc.Wells-IndexBENIGN ENTERPRISE CO.TOP-ONE Machinery Co., Ltd.Industry Developments:February 2020 – Mazak Corporation announced that the company will host a new education event named as DISCOVER MORE WITH MAZAK. Through this event, the company will exhibit its new product ‘VARIAXIS C-600,’ a new milling machine.IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersPorter’s Five Forces AnalysisGlobal Vertical Milling Machine Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Sizing Estimations and Forecasts – By Type (Value)Turret MillsBed MillsOthers (Mill Drills, etc.)Market Sizing Estimations and Forecasts – By Application (Value)AutomotiveGeneral MachineryPrecision engineeringTransport MachineryOthers (Electricals, etc.)Market Analysis, Insights and Forecast – By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaTOC Continued…!!!

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