CNC Machine Tools Global Market Report 2023

Jun 13, 2023

Major players in the cnc machine tools market are Amada Co. Ltd., Yamazaki Mazak, DMG MORI CO., LTD., TRUMPF Group, Dalian Machine Tool Group (DMTG) Corporation, Haas Automation Inc., Okuma Corporation, Shenyang Machine Tool Co.

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "CNC Machine Tools Global Market Report 2023" - https://www.reportlinker.com/p06479874/?utm_source=GNW Ltd. (SMTCL), Hurco Companies Inc., JTEKT Corporation, Makino Milling Machine Co., Ltd., GROB-WERKE GmbH & Co. KG. , Doosan Machine Tools Co., Ltd., Haitian Precision Machinery Co., Ltd., and Gleason Corporation.The global CNC machine tools market is expected to grow from $25.34 billion in 2022 to $26.83 billion in 2023 at a compound annual growth rate (CAGR) of 5.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The CNC machine tools market is expected to reach $32.46 billion in 2027 at a CAGR of 4.8%.The CNC machine tools market consists of sales of CNC turning machines, CNC laser machines, and CNC electric discharge machines (EDM).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.CNC is a manufacturing process that automates machine tools’ control, movement, and perfection by applying preprogrammed computer software incorporated into the tools.It is a computerized manufacturing method that regulates the movement of production equipment using code.Asia-pacific was the largest region in the CNC machine tools market in 2022. The regions covered in CNC machine tools report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main products of CNC machine tools are milling machines, drilling machines, grinding machines, and others.Milling machines refer to a machine that uses rotating cutting tools to remove material from a workpiece, which is held in place on a table or a fixture.Computer numerical control milling machine is used in a variety of applications such as surface contours, milling profiles, cutting operations, and others. The various materials of CNC machine tools include aluminum, stainless steel, titanium, and others that are used in automotive, general machinery, precision engineering, transport machinery, and others.The growth of manufacturing activities is expected to propel the growth of the CNC machine tool market going forward.Manufacturing activities refer to transforming raw materials, components, or parts into finished products that can be sold to consumers or used in other industries.Computer numerical control machine tools in manufacturing activities enable the automation of control, precision, and movement of equipment with the help of software that is integrated inside the machine tools.As manufacturing activities grow, there is an increase in dependency on CNC machine tools.For instance, in March 2022, according to the United Nations Industrial Development Organization, an Austria-based specialized agency of industrial and economic development, in the year 2021, the global manufacturing production of goods rose by 9.4%, respectively, as compared to 2020, where the manufacturing activities encountered a drop of 4.2% due to the pandemic crises. Therefore, the growth of manufacturing activities is driving the growth of the CNC machine tool market.Advancements in technology are a key trend gaining popularity in the CNC machine tool market.Companies operating in the CNC machine tool market are adopting new technologies to sustain their position in the market.For instance, in September 2020, NUM AG, a Switzerland-based manufacturer and provider of computer numerical control, launched the digital twin technology for CNC machine tools that helps reduce time and cost in machine development.The digital twin technology uses machine learning techniques, real-time data analysis, and simulation for automation products such as machine tools.This technology enables a detailed evaluation of the machine’s performance before building the actual physical structure.In August 2020, Consolidated Machine & Tool Holdings, a US-based CNC machining and fabrication manufacturer, acquired Specialty CNC, Inc. for an undisclosed amount. With this acquisition, Consolidated Machine & Tool Holding looks forward to enhancing and expanding its capabilities in manufacturing CNC machines. The addition also enables Specialty CNC, Inc., to gain support for its continuous growth and create future growth opportunities in the market. Specialty CNC, Inc. is a US-based manufacturing company specializing in CNC machining and milling machines.The countries covered in the CNC machine tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The CNC machine tools market research report is one of a series of new reports that provides CNC machine tools market statistics, including CNC machine tools industry global market size, regional shares, competitors with a CNC machine tools market share, detailed CNC machine tools market segments, market trends and opportunities, and any further data you may need to thrive in the CNC machine tools industry. This CNC machine tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479874/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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