CNC Cutting Machine Tools Market Industry overview
The Global CNC Cutting Machines Market Industry was expected to account for USD 4,012.9.12 million in 2020 and is expected to surpass USD 6,153.2 million by 2027 with a significant CAGR rate of 6.1% during 2021-2027. The CNC cutting machine refers to the manufacturing process in which computer software is used to keep track of the movement of factory machinery and tools. This process is used to control the production of various complex machinery, broaching, grinders, metal cutting, lathers, and others. These machines are highly used for metal cutting operations to get desired shape and cur on the metal pieces. Laser cutting devices, plasma cutters, and fibre cutters are some of the CNC cutting machines in the market.
The rapid expansion of manufacturing sectors and industrialization in some big countries will drive the CNC Cutting Machine Tools industry. Additionally, CNC metal cutting is gaining huge importance owing to advanced technology as they offer the best precision compared to other metal cutting machines. Such factors will have a positive impact on the CNC machine for metal work market. But fluctuation in the foreign currency exchange is expected to hinder the profit margin for the key players in the market.
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Major Players:
Biesse Group, HOMAG Group, Anderson Group, Exel CNC Ltd, MultiCam Inc., Thermwood Corporation, The Shoda Company, ShopSabre, AXYZ Automation Group, Carbide 3D LLC, KOMO Machine, Inc., TRUMPF, ESAB, Prima Power
CNC Cutting Machine Tools Market Industry segmentation
The CNC Cutting Machine Tools market is segmented on type, products, application end-user, and regions.
By Type
- Movable Gantry Type
- Stationary Gantry Type
By Product
- Plasma
- Laser
- Waterjet
- Router
By Application
- Wood Working
- Stone Working
- Metal Working
- Others
By End User
- Automotive
- Building & Construction
- Consumer
- Electronics
- Aerospace & Defense
- Medical
- Energy & Power
- Furniture
- Transportation
- Others
Based on region, the CNC machines for metal cutting market is divided into North America, Europe, Asia-pacific, and the rest of the world.
CNC Cutting Machine Tools Market Industry Regional analysis
The major contributing regions in the CNC Cutting Machine Tools market are North America, Asia Pacific, Europe, and the rest of the world. The Asia Pacific region is expected to grow faster and register the highest CAGR in the forecast period. It is mainly due to the expansion in the mechanical industry and raising investment in the aerospace and defence sector will fuel the CNC Cutting Machine Tools market growth. Additionally, significant growth in the automotive, oil gas, and China will also influence the market.
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