MRFR reports that the global CNC metal cutting machine tools market will expand at a compound annual growth rate of 6.14% between 2018 and 2023.
— CNC Metal Cutting Machine Tools Market 2019
CNC Metal Cutting Machine Tools Market 2019 is latest research report by MarketResearchFuture, the global CNC Metal Cutting Machine Tools market is expected to Register High Growth Rate during 2019 To 2023. Report analyzes CNC Metal Cutting Machine Tools Market Key Companies with Size, Share, Trends analysis, and Key Country Forecast to 2023. CNC Metal Cutting Machine Tools Market Information is segmented by Product Type, Application and Region - Forecast Till 2023
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., and AMADA MACHINE TOOLS CO., LTD.
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MRFR reports that the global CNC metal cutting machine tools market will expand at a compound annual growth rate of 6.14% between 2019 and 2023. Rapid industrialization in fast developing countries in APAC, MEA and LatAm to play an important role in driving the market during the projection period. Market players to gain from trend such as industrial automation and Industrial IoT. Market opportunities arising from the automotive sector is likely to standout. Demand for advanced metal cutting equipment has continued to grow in the automotive sector. The sector is likely to exhibit an above-average performance over the next five years, which remains a positive indicator for the market.
Segmental analysis of the global CNC metal cutting machine tools market is conducted on the basis of product type, application and region.
Based on product type, the market has been segmented into vertical machine centers, horizontal machine center and CNC grinder. The vertical machine centers segment is expected to remain highly attractive in 2019 and beyond. The segment is currently valued at over USD 20,000 Mn and will witness a CAGR of 6.43% during the assessment period. Vertical machine centers are extremely versatile and can perform a wide range of cutting task.
Based on application, the market has been segmented into aerospace and defense, shipbuilding, construction and automotive. The automotive segment accounted for the largest market share in 2018 and is likely to retain its dominant position throughout the assessment period. The segment is anticipated to reach a valuation in excess of USD 19,000 Mn by the year 2023, reflecting an above-average CAGR. Cutting applications are high in the automotive sector, making it a highly lucrative segment. In addition, growing emphasis on automation for automotive manufacturing is reflecting favorably on the market.
On the basis of region, the market has been segmented into Europe, North America, Asia Pacific (APAC) and Rest of the World (RoW). The market in Asia Pacific has been growth at a significant pace in recent years. In 2017, the region accounted for little under 46% share of the global market. Countries such as China, Japan, India and South Korea are likely to remain at the forefront of the APAC CNC metal cutting machine tools. By the end of the forecast period, the region’s market is expected to surpass a valuation of USD 27,300 Mn. Economic boom as result of rapid industrialization is typically attributed to the emergence of APAC as major CNC metal cutting machine tools market.
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