CNC Machine Tools Market Size to Grow by USD 28.18 Billion from 2023 to 2028, Advantages Over Conventional Machines to Drive Growth - Technavio
NEW YORK, Jan. 23, 2024 /PRNewswire/ -- The global CNC Machine Tools Market is set for significant growth, with a projected CAGR of 5.99% between 2023 and 2028. The market is forecasted to increase by USD 23.23 billion during this period. This growth is attributed to several factors, including the rising demand for high-precision and multi-axis machining centers across various industries, the integration of additive manufacturing with CNC machine tools. To know more about hybrid manufacturing, and additive manufacturing, view a free sample report.
The competitive landscape includes companies such as Amada Co. Ltd., ANCA Pty Ltd., Andritz AG, Chiron Group SE, DMG MORI Co. Ltd., FANUC Corp., GF Machining Solutions AG, Haas Automation Inc., and many more. Companies are implementing various strategies to enhance their presence in the market, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches.
The market report also provides a comprehensive outlook on the CNC machine tools market, offering forecasts for the industry segmented by product, end-user, and region.
- Product Segments: CNC Lathe Machines, CNC Milling Machines, Grinding and Others
- End-user Segments: Automotive, Industrial Machinery, Precision Engineering, Transportation and Others
- Regional Analysis: The Asia-Pacific (APAC) region is estimated to contribute 41% to the growth by 2028. The region is a major hub for manufacturing activities, especially in key end-user industries of CNC machine tools
The report also covers information on upcoming trends and challenges. Get more information by viewing the free sample report.
Future Outlook
As CNC machine tools continue to evolve and find applications across diverse industries, the market is set for accelerated growth. Technological advancements and the integration of additive manufacturing are poised to drive efficiency, reduce production times, and meet the evolving demands of end-users.
The report analyses the market size and growth and provides accurate predictions on the growth of the market. Explore detailed analysis by purchasing a report.
Related Reports:
The computer numerical control solutions market is projected to grow by USD 8.13 billion with a CAGR of 6.85% during the forecast period 2021 to 2026.
The CNC vertical machining centers market size is estimated to grow at a CAGR of 5.7% between 2023 and 2028. The market size is forecast to increase by USD 1.26 billion.
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Competitive Landscape
Companies Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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