The North America CNC Metal Cutting Machine Market would witness market growth of 5.8% CAGR during the forecast period (2019-2025). 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.
CNC metal cutting machine tools are gaining traction due to the increasing demand for high precision, time and energy efficiency in the metal fabrication industry. The increased demand across widespread applications like grinding, turning, shaping, drilling and sawing, lead to extensive product penetration. This would contribute to the growth of the market for CNC machine tools. In addition, the increasing demand for electrochemical machining has resulted in a rise in the segment of metal cutting tools. The increased demand can be attributed to various advantages of electrochemical machining and electrochemical micromachining for enhanced surface integrity in different applications such as stress-free drilled holes in the automotive sector and complex shapes in the aerospace industry.
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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: CNC Metal Cutting Machine Market in North America is expected to register a CAGR of 5.8% 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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