The Latin America, Middle East and Africa CNC Metal Cutting Machine Market would witness market growth of 7.9% CAGR during the forecast period (2019-2025). Machine tools used to cut metals are important for metalworking. While some machines, such as horizontal lathes, have worked in one form or another since earlier times, computer-numerical-controlled (CNC) metal cutting machines are more of a new technology. Powered by electric motors, metal cutting machine tools are used for various cutting methods, including milling, turning, boring, grinding, and more, to achieve the desired cutting of the metal workpiece. Globally, the market for metal cutting machines is projected to see significant growth due to accelerated industrialization and development of manufacturing sectors.
The growth in additive manufacturing drives the market for CNC machine tools. The shift of manufacturers towards a cost-effective and accelerated production process has resulted in increased acceptance of additive manufacturing. In addition, the growing popularity of heterogeneous material production capacity is also expected to result in market growth. Furthermore, the application of 3D printing in the consumer electronics, medical and automotive industries has resulted in the growth of the additive manufacturing industry. The drop in production time also results in an additional rise in the popularity of manufacturing among consumers.
The shift of manufacturers to smart manufacturing has resulted in the growth of the demand for CNC machine tools. The metal processing industry has evolved dramatically over the last few years. Increasing emphasis on automation, high connectivity, and data collection result in factories functioning as a single, coherent, and wholesome system. In addition, the machine tools industry is pursuing the Fourth Industrial Revolution (Industry4.0) which is projected to drive the proliferation of smart factories and result in the growth of smart machine tools. Intelligent devices can collect data and help to save resources. For example, a smart meter is expected to help in the efficient flow of energy.
Based on Type, the market is segmented into Machining Centers, Lathe Machines, Gear Cutting Machines, Laser Cutting Machines and Others. Based on End User, the market is segmented into Automotive, Electronics, Aerospace & Defense, Power & Energy and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: CNC Metal Cutting Machine Market in LAMEA is expected to register a CAGR of 7.9% during the forecast period (2019-2025)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hurco Companies, Inc., Lincoln Electric Holdings, Inc., Amada Holdings Co., Ltd., Komatsu Ltd., Okuma Corporation, DMG Mori Seiki Co. Ltd., Yamazaki Mazak Corporation, Dalian Machine Tool Group (DMTG) Corporation, Mondragon Corporation (Danobat Group), and Nissan Tanaka Corporation.
Market Segmentation:
By Type
By End User
By Country
Companies Profiled
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