Machining refers to the process of removing unwanted material from a workpiece to create objects with the required shapes and sizes. It involves processes such as turning, drilling, boring, milling, broaching, shaping, planning, sawing, andgrinding. Machining finds widespread applications in industries such as automotive, aerospace, construction, electronics, and shipbuilding for producing precision components and parts. Increasing production and sales of automobiles globally has tremendously augmented the demand for machined components in the automotive industry. This is a major growth driver for the overall machining market.

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.

Increasing demand from the rapidly growing automotive industry is a major factor propelling the Machining Market growth. According to industry experts, global automobile production is expected to increase by over 40% in the next decade. This will tremendously augment the requirement for precision machined components and parts in the automotive sector. Additionally, adoption of automated and digitized machining technologies by manufacturing companies helps improve productivity and reduce production cycle times. This continues to drive the machining market expansion globally.

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