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CNC Machine Tools Market to Hit $117.65 Billion by 2027; Increasing Focus on Reducing Operational Costs by Manufacturers to Boost the Market: Fortune Business Insights™

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Pune, Oct. 20, 2020 (GLOBE NEWSWIRE) — The global CNC (Computer Numerical Controls) machine tools market size is projected to reach USD 117.65 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period. Escalating demand for plastic partitions and sneeze shields amid the COVID-19 pandemic will prove beneficial for this market, observes Fortune Business Insights™ in its report, titled “CNC (Computer Numerical Controls) Machine Tools Market Size, Share & COVID-19 Impact Analysis, By Type (Metal Cutting, Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2020-2027”. With the aim to contain the spread of the coronavirus, the need for plastic shields and face guards has heightened since the pandemic began. These items are manufactured on CNC routers such as the M-Series Router made by the US-based CNC machining specialist, C.R. Onsrud. Engineered from plexiglass, polycarbonate, and other transparent polymers, these materials can be customized according to the needs of the business. As retail stores, restaurants, and other commercial spaces begin to reopen, the demand for plastic partitions is expected to soar, creating unprecedented opportunities for manufacturers of CNC machine tools.Click here to get the short-term and long-term impact of COVID-19 on this market.
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The report states that the global market value stood at USD 82.40 billion in 2019. The main highlights of the report include:Granular analysis of the major factors driving and constraining the market;Comprehensive insights into the key market players and their strategies;Careful examination of the various market segments; andIn-depth evaluation of the regional developments in the market.Market DriverExtensive Advantages of CNC Machines in the Automotive Industry to Aid GrowthThe applicability of CNC machine tools in the automotive industry is wide, with automobile manufacturers extensively utilizing this technology to enhance efficiency and productivity in assembly plants. For example, CNC machining can be used to design and engineer many of the vehicle’s critical engine components, which can be fitted into the engine block through this machining technique. The advantages offered by these tools to carmakers are several and this is one of the central factors fueling the CNC machine tools market growth. The most distinct advantage of CNC machining is speed. Operated automatically through computer programs, these tools eschew the need for human intervention in the manufacturing process. As a result, they can work without breaks and can elevate production levels of a plant, especially when producing parts in large volumes.
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Regional InsightsExcellent Growth of the Automotive Industry to Generate Sales Opportunities in Asia PacificAsia Pacific dominated the CNC machine tools market share in 2019, having a market size of USD 44.46 billion. The region is expected to continue its dominance during the forecast period on account of the promising growth displayed by the automotive industry in China and India. Moreover, the demand for CNC machines is also growing from other significant industries such as aerospace, transportation, and equipment manufacturing.The Middle East & Africa region is anticipated to create lucrative opportunities for market players as the oil-rich countries are gradually developing their non-oil business sectors. In North America, the demand for CNC machine tools is likely to remain stable owing to the quick adoption of advanced manufacturing technologies in the region.Competitive LandscapeIntroduction of Sophisticated CNC Solutions by Key Players to Intensify CompetitionDevelopment and launch of next-gen, cutting-edge CNC machine products and solutions are the central focus areas for key players in this market. These players are continuously investing in R&D to create enhanced and sophisticated offerings to strengthen their portfolio and further entrench their position in the market.Industry Developments:September 2020: Mitsubishi Electric released its flagship M80 Series CNC in India to capitalize on the country’s new goal of self-reliance. The advanced M80 model includes features such as high speed spindle motors, low inertia, high-accuracy tapping function, and OMR-DD2 (Optimum Machine Response-Direct Drive).April 2019: FANUC Corporation partnered with Preferred Networks to develop AI Servo Monitor, a novel artificial intelligence (AI) function that gathers control data from spindle axes and feed axes of the machines with high-speed sampling.
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List of Key Companies Profiled in the CNC Machine Tools Market Report:ANCA Group (Melbourne, Australia)Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Tokyo, Japan)FANUC Corporation (Yamanashi Prefecture, Japan)Komatsu Ltd. (Tokyo, Japan)Makino (Tokyo, Japan)MAG IAS GmbH (Wurttemberg, Germany)Amada Machine Tools Co., Ltd (Kanagawa, Japan)Doosan Machine Tools Co., Ltd. (Seoul, Korea)General Technology Group Dalian Machine Tool Corporation (Dalian, Liaoning Province)XYZ Machine Tools (Devon, United Kingdom)Okuma Corporation (Aichi, Japan)Hyundai WIA (Gyeongsangnam-do, Korea)Schuler AG (Goppingen, Germany)JTEKT Corporation (Nagoya, Japan)Trumpf (Ditzingen, Germany)Yamazaki Mazak Corporation (Aichi, Japan)
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Detailed Table of Content:IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesKey TakeawaysMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPESTLE AnalysisPorter’s Five Force AnalysisSupply Chain AnalysisGlobal Market Share Analysis and Matrix, 2019Key Market Insights and Strategic RecommendationsProfiles of Key Players (Would be provided for 10 players only)OverviewKey ManagementHeadquarters etc.Offerings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent DevelopmentsPrimary Interview ResponsesAnnexure / AppendixGlobal CNC (Computer Numerical Controls) Machine Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Type (Value)Metal CuttingMetal FormingBy Application (Value)AutomotiveGeneral MachineryPrecision engineeringTransport MachineryOthersBy Region (Value)North AmericaLatin AmericaEuropeMiddle East & AfricaAsia Pacific
Continued…..!
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:
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