According to a new report Global Precision Engineering Machines Market, published by KBV research, The Global Precision Engineering Machines Market size is expected to reach $16.7 billion by 2027, rising at a market growth of 6.0% CAGR during the forecast period.
The Non-Automotive market dominated the Global Precision Engineering Machines Market by End Use 2020, and would continue to be a dominant market till 2027; thereby, growing at a CAGR of 5.4% during the forecast period. This is attributed to the increased demand for advanced materials such as titanium alloys and nickel alloys in the aerospace and defense sector which led to the rise in the utilization of precision engineering machine tools and cutting tools.
The Asia Pacific market dominated the Global Automotive Precision Engineering Machines Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.3 billion by 2027.The Europe market is poised to grow at a CAGR of 7.6% during (2021 - 2027). Additionally, The North America market would showcase a CAGR of 7.6% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/precision-engineering-machines-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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