CNC Metal Cutting Machine Tools Market
The global CNC metal cutting machine tools market is expected to exhibit a strong 6.14% CAGR over the forecast period from 2020 to 2027, according to the latest research report from Market Research Future (MRFR). The global CNC metal cutting machine tools market is expected to reach a valuation of USD 58.9 billion by 2023, according to the report. The report presents a comprehensive overview of the global CNC metal cutting machine tools market to readers, including an analysis of the historical and present growth statistics of the market. Future projections for the CNC metal cutting machine tools market are based on this database of historical information. Every aspect of the global CNC metal cutting machine tools market is studied in detail in the report, providing readers with a comprehensive overview of the market. Major players and competitive trends operating in the global CNC metal cutting machine tools market are also profiled in detail in the report. The impact of the COVID-19 pandemic on the global CNC metal cutting machine tools market is also studied in detail in the report.
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Competitive Leaderboard:
Leading players in the global CNC metal cutting machine tools market include Dalian Machine Tool Group Corporation, Amada Machine Tools Co. Ltd., Yamazaki Mazak Corporation, EMAG GmbH Co. KG, Haas Automation Inc., Hurco Companies Inc., Komatsu Ltd., Okuma Corporation, JTEKT Corporation, Fanuc Corporation, and DMG Mori Co. Ltd.
CNC metal cutting machine tools are used for cutting metals in various operations. The major end users of CNC metal cutting machine tools include the automotive industry, the construction industry, the aerospace and defense industry, and the shipbuilding industry. Growing demand from all end use industries for effective and efficient CNC metal cutting machine tools is likely to remain the major driver for the global CNC metal cutting machine tools market over the forecast period. Growing demand from the automotive industry is likely to remain a major driver for the global CNC metal cutting machine tools market over the forecast period. Growing demand for effective metal cutting machine tools in the automotive industry has remained a major driver for the CNC metal cutting machine tools market over recent years. The growing automotive industry in emerging regions such as Asia Pacific is likely to remain a major driver for the CNC metal cutting machine tools market over the forecast period. The demand for automobiles is likely to increase significantly over the forecast period, driving the demand for metal cutting tools that can effectively produce automotive units.
The growing demand for CNC metal cutting machine tools from the aerospace and defense industry is also likely to be a major driver for the CNC metal cutting machine tools market over the forecast period. Growing demand for air travel has driven the demand for new aircraft in recent years. Commercial airliners have demanded new aircraft at an increasing rate over the last few years due to the growing demand for commercial air travel. Military aircraft have also grown in demand over the last few years due to the increasing concerns regarding geopolitical tensions in various locations around the world. This is likely to remain a major driver for the global CNC metal cutting machine tools market over the forecast period.
Segmentation:
The global CNC metal cutting machine tools market is segmented on the basis of product type, application, and region.
By product type, the global CNC metal cutting machine tools market is segmented into vertical machine centers, horizontal machine centers, and CNC grinders. The vertical machine centers segment is likely to remain the major segment of the global CNC metal cutting machine tools market over the forecast period, growing to a valuation of USD 28.2 billion by 2023.
By application, the global CNC metal cutting machine tools market is segmented into automotive, aerospace and defense, shipbuilding, and construction. The automotive industry is the major end user of CNC metal cutting machine tools.
Regional Analysis:
Asia Pacific is the largest regional segment of the global CNC metal cutting machine tools market and is also likely to exhibit the highest growth rate over the forecast period.
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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.
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