New York, June 22, 2021 (GLOBE NEWSWIRE) -- CNC Metal Cutting Machine Tools Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “CNC Metal Cutting Machine Tools Market Research Report, Product Type, By Application and By Region - Forecast Till 2027” the market is expected to expand at a CAGR of 6.7% from 2020 to 2027 (forecast period).
Market Analysis
CNC metal cutting machining is a manufacturing process that uses computer software that has been pre-programmed to control the movement of factory machines and equipment. The approach is used to control a wide range of complex devices, including metal cutting, broaching, grinders, lathes, and others. These machines are frequently used in metal cutting operations to obtain the desired cutting of the metal workpiece. Metal cutting machines currently on the market include plasma cutters, laser cutting devices, and fiber cutters.
The growth of the CNC metal cutting machine industry is being driven by the expansion of manufacturing sectors and increased industrialization in developing nations such as China and India. Furthermore, because of their advanced technology, laser metal cutting machines have grown in popularity since they provide a higher degree of precision than traditional metal cutting machines. These reasons are predicted to boost the growth of the CNC metal cutting machine industry. Nonetheless, the constant fluctuations in foreign currency exchange tend to erode the profit margins of CNC metal cutting machine market participants.
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The market for CNC machine tools is being driven by the growth of additive manufacturing. Manufacturers' shift toward a more cost-effective and quicker production process has resulted in greater acceptance of additive manufacturing. Furthermore, the increasing popularity of heterogeneous material manufacturing capacity is likely to drive market expansion. Furthermore, the use of 3D printing in the consumer electronics, medical, and automotive industries has led to the expansion of the additive manufacturing industry. The reduction in production time leads to an increase in consumer interest in manufacturing.
Rapid industrialization in rapidly emerging nations in APAC, MEA, and Latin America would play a significant role in boosting the market during the forecast period. Market participants will benefit from trends such as industrial automation and industrial IoT. Market opportunities arising from the automotive sector are likely to stand out. The automotive industry's demand for modern metal cutting equipment has increased. Over the next five years, the sector is expected to perform above average, which is a favorable signal for the market.
Dominant Key Players on CNC Metal Cutting Machine Tools Market covered are:
- DMG MORI CO. LTD
- FANUC CORPORATION
- JTEKT CORPORATION
- Dalian Machine Tool Group Corporation
- Yamazaki Mazak Corporation
- Hurco Companies Inc.
- Okuma Corporation
- Makino Milling Machine Co. Ltd.
- Haas Automation Inc.
- EMAG GmbH & Co. KG
- Komatsu Ltd.
- AMADA MACHINE TOOLS CO. LTD.
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COVID-19 Impact on the Global CNC Metal Cutting Machine Tools Market
The CNC metal cutting machine tools industry has been significantly impacted in recent months as a result of global lockdowns enacted in the majority of countries. Since the pandemic outbreak in December 2019, these lockdowns have resulted in a temporary stoppage in the production of CNC metal cutting machine tools. The mandated lockdowns have also impacted the aerospace and defense, shipbuilding, construction, and automotive industries, all of which rely on CNC metal cutting machine tools as the primary means of producing various parts and components. Furthermore, a lack of raw materials has harmed the market, as the manufacture of these instruments has been hampered by the pandemic; however, demand for these items is projected to stabilize in the coming months as numerous governments prepare to lift the lockdowns gradually.
The lifting of the lockdowns is expected to improve economic conditions and demand for various goods and services, boosting demand for CNC metal cutting machine tools in the coming months. The market is expected to expand in the future years as a result of increased demand from the industrial sector and professional segment, as well as increased use of CNC metal cutting machine tools for manufacturing activities. The expansion of the industrial sector is likely to propel the market for CNC metal cutting machine tools. Due to a scarcity of experienced labor and high labor costs, the use of CNC metal cutting machine tools across industries in both developed and developing countries is likely to expand. With increased demand from the furniture industry, the market for CNC metal cutting machine tools is expected to rise. The increasing demand for these equipment in the construction and automotive sectors is the primary driving factor responsible for market expansion.
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Market Segmentation
The worldwide CNC metal cutting machine tools industry has been segmented into product types and applications.
By product type, the worldwide CNC metal cutting machine tools market has been segmented into vertical machine centers, horizontal machine centers and CNC Grinder.
By application, the worldwide CNC metal cutting machine tools market has been segmented into aerospace and defense, shipbuilding, construction and automotive.
Regional Analysis
Region-wise, the global CNC metal cutting machine tools market has been divided into North America, Europe, Asia Pacific, and the rest of the world.
The market for CNC metal cutting machine tools in the Asia Pacific has been expanding at a rapid pace, owing mostly to the existence of industrial bases for several multinational corporations in China and India.
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Segmentation of Market covered in the research:
Information by Product Type (Vertical Machine Centers, Horizontal Machine Center and CNC Grinder), By Application (Aerospace and Defense, Shipbuilding, Construction and Automotive) and By Region
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.