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The machining services market size is forecast to increase by USD 17.4 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for high-performance materials, such as steel composites, aluminum, titanium, and lightweight metals, in various industries. These materials are increasingly being used in extreme conditions and to meet exact specifications and tight tolerances. One of the major drivers of this trend is the oil and gas industry, which requires machining services for drilling and exploration equipment. Another trend is the emergence of advanced manufacturing technologies, including AI and machine learning, in the machining industry. These technologies enable more efficient and precise manufacturing processes. Furthermore, the growing popularity of electric vehicles (EVs) is driving demand for machining services to produce the complex components required for their batteries and motors.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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