According to a recent FMI report, the global thread milling machine market is expected to grow at a CAGR of 5.1% in the forecast period from 2023 to 2033. The market is anticipated to be valued at US$ 17,437.7 Mn in 2023 and reach US$ 28,675.9 Mn by the end of 2033.
The thread milling machine has been around for over a hundred years and is used in a wide range of industries. There are several types of thread milling machines, each with its own unique set of features and capabilities.
Milling machines are used to create various types of threads, including external threads on pipes and screws, as well as internal threads on tapped holes. A thread milling machine consists of a cutter with multiple flutes that rotates about an axis. The cutter progressively removes material from the work piece to create the desired thread form.
Thread milling machines were first developed in the early 1900s. These early machines were rudimentary compared to today’s standards. However, they were still able to perform the basic function of cutting threads into metal.
Throughout the years, thread milling machines have undergone numerous improvements and refinements. The most common type of thread milling machine is the computer numeric controlled (CNC) model.
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Key Takeaways from the Thread Milling Machine Market Study:
- The demand for thread milling machines in Australia is expected to grow at 2.7% CAGR in 2023.
- The demand for thread milling machines in Japan is expected to grow at 8.0% CAGR in 2023.
- Sales of thread milling machines in the U.S. are expected to grow at a rate of 32.7% in 2023.
- The demand for thread milling machines is projected to grow at a CAGR of 6.3% in India during the assessment period.
- The U.K. thread milling machine market is projected to grow at a CAGR of 5.3% in the evaluation period.
“Increasing popularity of eco-friendly fibers in designer apparel and garments is anticipated to boost sales of thread milling machines. Apart from that, expansion of the online fashion market, development of high-quality innovative fabrics, and rising disposable income are anticipated to drive growth,” says a lead analyst at Future Market Insights.
Competition Landscape: Thread Milling Machine Market
Major players in the global thread milling machine market are DMG Mori Seiki Co., Ltd., Junker Group, Sandvik Coromant AB, Kennametal Inc., Walter AG, Yamazaki Mazak Corporation, EMAG GmbH & Co.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be due to the region’s growing population and rising disposable income levels. Furthermore, the North America thread milling machine market is expected to expand in the next ten years due to the presence of a favorable legal and regulatory environment.
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Get Valuable Insights into Thread Milling Machine Market
FMI, in its new offering, provides an unbiased analysis of the thread milling machine market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Thread milling machine based on material (stainless steel, mild steel), by application (food equipment, automotive, aerospace, power generation, medical), by distribution channel (online and offline), and by region.
Thread Milling Machine Market Outlook by Category
By Application:
- Food Equipment
- Automotive
- Aerospace
- Power Generation
- Medical
By Material:
- Stainless Steel
- Mild Steel
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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