CNC cutting machine market is an excellent source of essential data used by business strategists and industry experts. Investors have displayed significant interest in the CNC cutting machine market. Globally, the market for CNC cutting tools has been increasing on the narrative of multiple advanced end-users. You can learn more about the market analysis of the CNC cutting machine here.
The desire to have an industry for seamless electronics has played an essential part in developing the global CNC cutting machine market. CNC machine cutting is a manufacturing system in which industrial machinery and tools are dictated using pre-programmed computer software.
Rapid industrialization and the growth of manufacturing sectors in countries like India and China are a major driving force in developing the CNC cutting machine market.
Additionally, laser cutting machines are gaining immense significance because of its advanced technology since they provide a noble degree of cutting precision compared to conventional cutting machines. These factors impact positively on the market growth of CNC cutting machines.
Even though CNC cutting tools aren’t directly engaged in the electronic industry, many intermediate products being used in this industry are being cut using these machines. As a result, there’s a projected increase in revenue in the following years in the global market.
The global CNC machine market is expected to increase at a compound rate of 6.11% annually from 2018 to 2023. However, this may not be the case since the COVID-19 pandemic is currently imposing a dangerous threat to CNC cutting machines’ global market.
CNC cutting machine market segmentation is done by type, end-user, and region. The primary users of CNC cutting machines include construction industries, defense and aerospace industries, shipbuilding industries, and automotive industries.
Increasing demand from all these industries for efficient and effective CNC metal cutting is the significant driver for the CNC cutting machines market globally. In recent years, the increasing demand for efficient metal cutting machines has been an important driver in the automotive industry.
The Competitive Leaderboard
The top companies in the CNC metal cutting tools include; Okuma Corporation, Dalian Machine Group Corporation, Hurco Companies Inc., Fanuc Corporation, Yamazaki Mazak Corporation, Haas Automation Inc., Amada Machine Tools Co. Ltd., EMAG GmbH and Co. KG, JTEKT Corporation, and DMG Mori Co. Ltd.
Key Strategies Deployed in CNC Cutting Machine Market
a.Acquisition and mergers
For instance, in April 2109, Lincoln Electric merged with Baker industries, which serves the automotive and aerospace sectors with tools, fixtures, and parts. The merger completed Lincoln Electric’s product portfolio and its recent metal additive manufacturing business.
b.Product launch and expansion
For example, in July 2018, a hybrid CNC printer machine was launched by Okuma, a sudden additive manufacturing. This machine binds the systems of every manufacturing method for an accurate object.
In October 2018, Amada enlarged its boundaries to reach UAE by launching a new branch to expand its business. Similarly, in June 2018, Okuma launched a new production facility in Japan, which produces two columned machining centers to support its product line.
Understanding the key trends of the global CNC cutting machine market to products and applications is done by following product positioning and tracking the top competitors in the global market framework.