The North America Precision Engineering Machines Market would witness market growth of 5.8% CAGR during the forecast period (2021-2027).
Precision engineering machines comprise numerous other distinct functions such as low tolerance. The low tolerance function of the technology describes exceptionally small or no variation in the outcomes of the machine. Precision engineering machines have the ability to manufacture numerous products without any differences in the physical or functional attributes of the product. With the help of these machines, the attempts to manufacture products with the same dimensions and features are consistent as well as precise under the same conditions each time. The integration of all these benefits and advantages into a single solution facilitated the production of final goods as well as intermediate goods for manufacturers.
North America is observing an increased demand for precision engineering machines due to the rising demand for a sharp and precise production solution. Moreover, many countries like the US and Canada are witnessing a large number of job openings in the field of precision engineering. Moreover, the region has well-established presence of many manufacturing companies which would require precision engineering machines.
Moreover, the existence of NEDEC in Mexico is a significant benefit for industries of all sizes including large-scale, small-scale, and medium-scale companies. NEDEC is a supplier of various essential machining parts as well as a huge vendor of precision engineering which is situated in Mexico. Furthermore, precision engineering machines are also being utilized in the field of synthetic biology across the US by conducting large-scale genotype-phenotype landscape measurements for precision engineering of living measurement systems. These are the factors that are boosting the demand for precision engineering machines and tools across North America.
The US market dominated the North America Precision Engineering Machines Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.4 billion by 2027. The Canada market is estimated to witness a CAGR of 8.2% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 7.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Precision Engineering Machines Market is Estimated to reach $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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