CNC Metal Cutting Machine Tools Market Size 2021: COVID-19 Impact Leading Players, Current Trends, Market Challenges, Growth Drivers and Business Opportunities
Market
Research Future (MRFR)’s study reveals that the global CNC metal cutting
machine tools market is prognosticated to thrive at a CAGR of 6.14% during the
forecast period 2018 to 2023. The report also discloses that the market’s
valuation is likely to touch USD 58,918.2 Mn mark by the end of 2023. The
strong value maintained by the end-user industries is anticipated to be the
primary driving force of market growth in the forthcoming years.
Urbanization and industrialization have favored the generation of
demand for automobiles. The sales of automobiles have been estimated to increase
from 90 million to 120 million between 2015 and 2023. This, in turn, has
necessitated the bulk production of different components of automobiles with a
high degree of accuracy and precision. The drastic growth witnessed in the
automobile industry is expected to dictate the growth trajectory of the CNC
metal cutting machine tools market over the assessment period. In addition, the
rising demand witnessed in other industries such as aerospace & defense,
construction, etc. are also presumed to catalyze the expansion of the market
over the next couple of years.
The lack of skilled labor is one of the major challenges posed by
the global market. It is presumed to have a negative impact on the growth of
the CNC metal cutting machine tools market in the forthcoming years. In
addition, the high cost of these tools remains an impediment to the market
growth. However, manufacturing hubs in developing nations backed by FDI are
poised to unleash tremendous opportunities for the participants of the CNC
metal cutting machine tools market.
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Global Market for CNC Metal Cutting Machine Tools – Segmental
Analysis:
This MRFR report offers a detailed segmental analysis of the
global CNC metal cutting machine tools market based on application and product
type. By product type, the market has been segmented into vertical machine
centers, horizontal machine centers, and CNC grinder. Among these, the vertical
machine centers segment is expected to grow from USD 19,541.3 Mn in 2017 to USD
28,264.9 Mn by the end of 2023. The manufacturing industry is poised to
generate high demand for vertical machine centers over the next couple of years.
By application, the CNC metal cutting machine tools market has
been segmented into automotive, aerospace & defense, shipbuilding, and
construction. Among these, the automotive segment is projected to expand at a
relatively higher CAGR of 6.4% during the assessment period. The report also
reveals that the automotive segment has been estimated to hold the maximum
share of the market through the forecast period.
Regional Outlook:
The regional assessment of the CNC metal cutting machine
tools market spans
across Americas, Europe, Asia Pacific, and the Middle East & Africa. Among
these, Asia Pacific is expected to retain a dominant share of the global market
across the assessment period. It is estimated to expand at a relatively higher
CAGR of 6.36% over 2023. The burgeoning end-use industries are anticipated to
drive the growth of the CNC metal cutting machine tools market in the region.
In addition, the growth strategies leveraged by the key players in the region
such as Okuma Corporation, Yamazaki Mazak Corporation, and DMG Mori Co., Ltd,
are poised to favor the proliferation of the market.
Europe is a lucrative regional market and is forecasted to strike
a CAGR of 5.84% during the review period. The valuation of the CNC metal
cutting machine tools market in the region has been estimated to reach USD
16,312.3 Mn by 2023-end. The growth of the regional market can be ascribed to
the adoption of advanced machinery for its end-user industries. Americas is
another important revenue pocket projected to proliferate saliently at a CAGR
of 6.10% during the assessment period.
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Global Market for CNC Metal Cutting Machine Tools – Competitive
Dashboard:
Some of the prominent players operating in the global market
are DMG MORI CO., LTD, FANUC CORPORATION, JTEKT CORPORATION, Okuma Corporation,
Komatsu Ltd., Hurco Companies, Inc., Haas Automation, Inc., EMAG GmbH & Co.
KG, Yamazaki Mazak Corporation, AMADA MACHINE TOOLS CO., LTD., Dalian Machine
Tool Group Corporation,
About Market Research Future:
Market Research Future (MRFR) is a global market research firm
that takes great pleasure in its services, providing a detailed and reliable
study of diverse industries and consumers worldwide. MRFR's methodology
integrates proprietary information with different data sources to provide the
client with a comprehensive understanding of the current key trends, upcoming
events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a
competent team of research analysts who provide useful analytics and data on
technological and economic developments. Our deemed analysts make industrial
visits and collect valuable information from influential market players. Our
main goal is to keep our clients informed of new opportunities and challenges
in various markets. We offer step-by-step assistance to our valued clients
through strategic and consulting services to reach managerial and actionable
decisions.
Contact Us:
Market Research Future
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