Portland, OR, March 25, 2020 (GLOBE NEWSWIRE) — According to the report published Allied Market Research, the global CNC metal cutting machine market generated $69.96 billion in 2018, and is estimated to reach $113.50 billion by 2026, growing at a CAGR of 6.0% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key segments, major winning strategies, business performance, and competitive landscape.
Increase in manufacturing of defense equipment in the private sector, surge in manufacturing machinery industries, and the growth of the automotive industry drive the global CNC metal cutting machine market. However, rise in usage of second-hand machinery and variations in foreign currencies hinder the market growth. On the other hand, favorable government initiatives and regulations create new opportunities in coming years.
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Based on type, the machining centers segment accounted for highest market share, holding more than two-thirds of the total market share in 2018, and is expected to maintain its leadership status during the forecast period. However, the laser cutting machines segment is estimated to register the fastest CAGR of 8.4% from 2019 to 2026.
Based on end user, the automobile segment held the largest market share of the global CNC metal cutting machine industry, contributing to more than one-third of the total share in 2018, and is expected to maintain its leadership status in terms of revenue by 2026. However, the electronics segment is expected to register the largest CAGR of 7.1% from 2019 to 2026.
Based on region, Asia-Pacific contributed to the highest market share, accounting for nearly half of the total market share in 2018, and is estimated to continue its dominance in terms of revenue by 2026. Moreover, this region is expected to witness the highest CAGR of 6.9% during the forecast period. The research also analyzes regions including North America, Europe, and Latin America, Middle East, and Africa (LAMEA).
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Leading market players analyzed in the research include Amada Holdings Co., Ltd., DMG MORI CO., Ltd., Coherent, Inc., Komatsu Ltd., Hurco Companies, Inc., Maschinenfabrik Berthold Hermle AG, Lincoln Electric Holdings, Inc., TRUMPF GmbH + Co. KG, Okuma Corporation, and Yamazaki Mazak Corporation. They have adopted various strategies including expansion, mergers & acquisitions, collaborations, partnerships, agreements, and others to gain a strong position in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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