Wilmington,Delaware, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “CNC Machinery Market by Type (Lathe Machines, Milling Machines, Grinding Machines, Drilling Machine, Laser Machines, and Others), Application (Automotive, Construction Equipment, Aerospace & Defence, Power & Energy, Industrial Machinery, and Others), and Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global CNC machinery market was valued at $66,535.6 million in 2020, and is projected to reach $130,136.7 million by 2032, registering a CAGR of 5.6% from 2023 to 2032.
Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/204666
Prime determinants of growth
The rise in concern toward the precision cutting, drilling, & milling and growth in industrial sectors drive the expansion of the CNC machinery market. However, high cost associated with CNC machinery restricts the market growth. On the contrary, growing technological advancements are expected to present new opportunities in the coming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2020 | $66,535.6 million |
| Market Size in 2032 | $130,136.7 million |
| CAGR | 5.6% |
| No. of Pages in Report | 215 |
| Segments covered | Type, Application, Sales Channel, and Region. |
| Drivers | Growth of the automotive and aerospace industry Advantages of CNC lathe machines |
| Opportunities | Technical advancements in CNC machinery |
| Restraints | Slowdown of global manufacturing industry |
COVID-19 Scenario
The outbreak of the COVID-19 pandemic had a negative impact on the CNC machinery market, owing to the temporary closure of manufacturing firms during the lockdown.
Not only the production but also the sale of CNC machinery was hampered due to the downfall of various end user industries across the world, especially in the initial period of the pandemic.
The milling machines segment to hold majority share of the market in 2020
By type, the milling machines segment held the highest market share in 2020, accounting for more than one-thirds of the CNC machinery market revenue, and laser machines segment is estimated to maintain its leadership status throughout the forecast period. CNC milling machines are capable of producing high-precision cylindrical parts with very tight tolerances. This makes them an ideal choice for industries such as aerospace and oil & gas industry, where accuracy is critical. Furthermore, horizontal lathes are designed for high volume production of cylindrical parts, which can help manufacturers increase their productivity and reduce costs. Hence, all these factors together contribute toward the growth of the market.
Buy This Research Report (189 Pages PDF with Insights, Charts, Tables, Figures) @
https://www.alliedmarketresearch.com/checkout-final/e53951c4e43f4b62f2ca618b8946c99b
The automotive segment held the largest market share in 2020.
By application, the automotive segment held the highest market share in 2020, accounting for one third of the CNC machinery market, and aerospace and defence segment is estimated to maintain its leadership status throughout the forecast period. Rapid industrialization have significantly increased CNC machines demand throughout the globe. The CNC machines are used to manufacture various engine components such as crankshafts, camshafts, and pistons, as well as transmission parts such as gears and shafts for the automotive industry.
The OEM segment to maintain its lead position during the forecast period
By sales channel, the OEM segment accounted for the largest share in 2020, contributing more than three fifths of the CNC machinery market revenue, and aftersales segment is projected to maintain its lead position during the forecast period. Many types of end-users such as automotive, aerospace, construction equipment, and others employ large number of CNC machines which increases the demand for maintenance and repair, as these activities are directly related to machine operations. Many service schedules such as alignment & balance service, root cause failure analyses service, and others, are used to regulate the usage of these machines under numerous equipment types.
Asia-Pacific to maintain its dominance by 2032
By region, Asia-Pacific held the highest market share in terms of revenue in 2020, accounting to nearly half of the global CNC machinery market revenue The manufacturing sector in countries such as India and China has witnessed substantial growth in the past few decades, owing to availability of workforce and low-cost manufacturing. CNC machinery is widely used in many industries throughout the Asia-Pacific region. The region's three major economies are anticipated to be China, India, and Japan. Considering its position as the world's biggest manufacturing center, China is anticipated to remain a significant market for CNC lathe and milling machinery. It is anticipated that the demand for advanced CNC machinery will increase because of the country's growing investment in automation and production technologies.
Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/204666
Leading Market Players: -
Amada Machine Tools Co., Ltd.
Amera Seiki
DMG Mori Co., Ltd.
General Technology Group
Dalian Machine Tool Co., Ltd.
Datron AGFANUC Corporation
HAAS Automation, Inc.
Hurco Companies, Inc.
Okuma Corporation.
Shenyang Machine Tool Part Co., Ltd.
The report provides a detailed analysis of these key players in the CNC machinery market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Machinery Industry (Book Now with 15% Discount):
CNC Machine Tools Market Global Opportunity Analysis and Industry Forecast, 2023-2032
Tunneling and Rock Drilling Equipment Market Global Opportunity Analysis and Industry Forecast, 2023-2032
CNC Drilling Machine Market Global Opportunity Analysis and Industry Forecast, 2023-2032
Milling Machine Market Global Opportunity Analysis and Industry Forecast, 2021-2030
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube
