New York, June 22, 2021 (GLOBE NEWSWIRE) – CNC Metal Cutting Machine Market Overview: According to the Comprehensive Research Report of Market Research Future (MRFR), “CNC Metal Cutting Machine Market Research Report, Product Type, By Application By Region- Forecast to 2027″, from 2020 to 2027 (forecast period), the market will grow at a compound annual growth rate of 6.7%.
CNC metal cutting is a manufacturing process that uses pre-programmed computer software to control the movement of factory machines and equipment. This method is used to control various complex equipment, including metal cutting, broaching, grinders, lathes, etc. These machines are often used in metal cutting operations to obtain the required metal workpiece cuts. Metal cutting machines currently on the market include plasma cutting machines, laser cutting equipment and fiber cutting machines.
The growth of the CNC metal cutting machine industry is driven by the expansion of manufacturing and the increase in industrialization in developing countries such as China and India. In addition, due to its advanced technology, laser metal cutting machines are becoming more and more popular because they provide higher accuracy than traditional metal cutting machines. These reasons are expected to promote the growth of the CNC metal cutting machine industry. Nevertheless, the continuous fluctuation of foreign exchange rates tends to erode the profit margins of market participants in CNC metal cutting machines.
The CNC machine tool market is driven by the growth of additive manufacturing. Manufacturers are turning to more cost-effective and faster production processes, leading to greater acceptance of additive manufacturing. In addition, the increasing popularity of manufacturing capabilities for heterogeneous materials may drive market expansion. In addition, the use of 3D printing in the consumer electronics, medical, and automotive industries has led to the expansion of the additive manufacturing industry. The reduction in production time has led to an increase in consumer interest in manufacturing.
During the forecast period, the rapid industrialization of the Asia-Pacific region, MEA and Latin American fast emerging countries will play an important role in promoting market development. Market participants will benefit from trends such as industrial automation and industrial Internet of Things. Market opportunities from the automotive industry may stand out. The automotive industry has increased demand for modern metal cutting equipment. In the next five years, the performance of the industry is expected to be above average, which is a favorable signal for the market.
Due to the global lockdown imposed by most countries/regions, the CNC metal cutting machine tool industry has been significantly affected in recent months. Since the outbreak of the pandemic in December 2019, these blockades have led to a temporary halt in the production of CNC metal cutting machine tools. The mandatory blockade also affects the aerospace and defense, shipbuilding, construction, and automotive industries, all of which rely on CNC metal cutting machine tools as the main means of producing various parts. In addition, the lack of raw materials has hurt the market because the manufacture of these instruments is hampered by the pandemic; however, as many governments prepare to gradually lift the blockade, it is expected that the demand for these items will stabilize in the coming months.
The lifting of the blockade is expected to improve the economic situation and the demand for various goods and services, thereby boosting the demand for CNC metal cutting machine tools in the coming months. Due to increased demand from the industrial and professional sectors, and the increasing use of CNC metal cutting machine tools in manufacturing activities, the market is expected to expand in the next few years. The expansion of the industrial sector may boost the CNC metal cutting machine tool market. Due to the lack of experienced labor and high labor costs, whether in developed or developing countries, the cross-industry use of CNC metal cutting machine tools is likely to expand. With the increase in demand from the furniture industry, the market for CNC metal cutting machine is expected to rise. The growing demand for these devices in the construction and automotive industries is the main driving factor for market expansion.
Post time: Jun-29-2021