According to a new report published by Allied Market Research, titled, “CNC Metal Cutting Machine Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global CNC metal cutting machine market size was valued at $53.1 billion in 2020, and is projected to reach $83.4 billion by 2030, registering a CAGR of 4.2% from 2020 to 2030.
The key players include in this report:
- Amada Holdings Co., Ltd.,
- Coherent, Inc.,
- DMG MORI CO., Ltd.,
- Hurco Companies, Inc.,
- Komatsu Ltd,
- Lincoln Electric Holdings, Inc.,
- Maschinenfabrik Berthold Hermle AG,
- Okuma Corporation,
- TRUMPF GmbH + Co. KG,
- Yamazaki Mazak Corporation
Download Free Sample: https://www.alliedmarketresearch.com/request-sample/6287
By type, the market is segmented into machining centers, lathe machines, gear cutting machines, laser cutting machines, and others. Among these,the machining centers segment accounted for the highest market share in 2020 and laser cutting machines is expected to witness significant growth during the forecast period, owing to increase in demand for automotive and defense industries. The market is analyzed with respect to different applications in industrial verticals such as Automobile, Aerospace & defense, Electronics, Power & Energy, and Others. The CNC Metal Cutting Machine market growth of global manufacturing industry and increased investment in automotive, aerospace & defense, and electronic manufacturing industry. However, high initial cost of the potential to limit growth of the market.
The rise in global population and surge in purchasing power of masses in developing countries have significantly increased the demand for automobiles, thereby fueling the use of CNC metal cutting machines in automotive industry. Moreover, surge in demand for efficient and precise metal cutting machines drive the CNC metal cutting machines market. In addition, increased investments in global defense and aerospace manufacturing industry fueled by changing global economic & power dynamics propel demand for CNC metal cutting machines.
For instance, according to India Brand Equity Foundation, the Indian Government is anticipating local and foreign investments around $8-10 billion in the automotive sector by 2023. And the Indian automotive industry is expected to reach US$ 251.4-282.8 billion by 2026.
However, during the pandemic, various manufacturers in the CNC metal cutting machine market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of CNC metal cutting machine companies. In addition, lack of manpower and raw materials constricted supply of components of CNC metal cutting machines; and has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for corona virus disease are anticipated to lead to re-opening of CNC metal cutting machine companies.
Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/6287
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging CNC metal cutting machine market trends and dynamics.
- Depending on type, the machining centers segment dominated the CNC metal cutting machines market, in terms of revenue in 2020 and the laser cutting machines segment is projected to grow at a significant CAGR during the forecast period.
- By end user, the automobile segment registered highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The key players within the CNC metal cutting machine market share are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the CNC metal cutting machines industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth CNC metal cutting machine market analysis is conducted by constructing estimations for the key segments between 2021 and 2030
Make a Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6287