CNC Metal Cutting Machine Market
CNC metal cutting machine market size was valued at $53,069.1 million in 2020, and is projected to reach $83,364.4 million by 2030, registering a CAGR of 4.2%.
WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ — The Global CNC CNC Metal Cutting Machine Market generated $53.06 billion in 2020, and is projected to reach $83.36 billion by 2030, witnessing a CAGR of 4.2% from 2020 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Surge in manufacturing of defense equipment in the private sector, rise in defense expenditure, growth of manufacturing machinery industries, and development of the automotive industry drive the growth of the global CNC metal cutting machine market. However, increase in adoption of secondhand machinery and fluctuations in foreign currencies restrain the market to some extent. On the other hand, supportive government regulations and initiatives for machine tool industry present new opportunities in the upcoming years.
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COVID-19 scenario:
The outbreak of the COVID-19 pandemic had halted the production of many products in the CNC metal cutting machines market, due to the implementation of the global lockdown.
However, the bioenergy market is expected to recover soon as manufacturers are focusing on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
The report offers detailed segmentation of the global CNC metal cutting machine market based on product type, end user, and region.
Based on product type, the machining centers segment held the highest market share in 2020, holding more than two-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the laser cutting machines segment is estimated to register the highest CAGR of 6.4% from 2020 to 2030.
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Based on end user, the automobile segment held the largest market share in 2020, holding nearly one-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the electronics segment is projected to register the highest CAGR of 5.3% from 2020 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 5.1% during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.
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Leading players of the global CNC metal cutting machine market analyzed in the research include
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, and Yamazaki Mazak Corporation
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