The Europe Precision Engineering Machines Market would witness market growth of 5.6% CAGR during the forecast period (2021-2027).
Precision measuring machines are used to accurately measure the physical quantities directly or the dimensions indirectly by calculating real physical objects with the purpose of obtaining accurate values of the object. In the modern era, the need for precision in production and manufacturing units is continuously increasing. Precision engineering machines comprise a wide range of tools that can be leveraged in the manufacturing of various products under numerous fields such as mechanical engineering, electrical engineering, optical engineering, electronics engineering, and software engineering.
Europe is a region with a high emphasis on precision engineering machines to fulfill the requirements of the residents of the region with increased accuracy. Moreover, the emergence of Euspen (European Society for Precision Engineering and Nanotechnology) across the region would accelerate the deployment of precision engineering and precision engineering machines in Europe. Euspen is a group of best-in-class industrialists and researchers spending their efforts in the field of precision engineering. Furthermore, this organization emphasizes on developing Nano precision fixtures and ultra-precision machines.
In addition, the Government of Germany is increasing funds and investments intending to increase the number of technical institutes across the country. This would further expedite the development of precision engineering machines in Germany and enable the county to fulfill the increasing demand for the precision of its residents.
The Germany market dominated the Europe Precision Engineering Machines Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.3 billion by 2027. The UK market is anticipated to grow at a CAGR of 4.9% during (2021 - 2027). Additionally, The France market would display a CAGR of 6.4% during (2021 - 2027).
Based on End User, the market is segmented into Non-Automotive (Engineering & Capital Goods, Power & Energy, Aerospace & Defense, and Others) and Automotive. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Precision Engineering Machines Market Size will Hit $16.7 Billion by 2027, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amera-Seiki Corporation, DATRON AG, Haas Automation, Inc., Hurco Companies, Inc., AMADA CO., LTD., Okuma Corporation, Yamazaki Mazak Corporation, Dalian Machine Tool Group (DMTG) Corporation, DMG Mori Co. Ltd., and FANUC Corporation.
By End User
By Country
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