The global CNC Metal Cutting Machine market is forecast to reach a value of USD 9,492.8 Million by 2027, according to the latest report by Reports and Data.
NEW YORK CITY, NY, UNITED STATES, September 9, 2021 /EINPresswire.com/ — The new research study on CNC Metal Cutting Machine market sheds light on the current scope as well as on the upcoming opportunities in the future. To understand the structure of global trading, the report also gives statistical data on local consumption and global consumption. The report also focuses on global major leading industry players of CNC Metal Cutting Machine market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information.
Demand for CNC Metal Cutting Machines has been growing significantly, and this can be attributed to increasing deployment in the automotive industry. CNC Metal Cutting Machines find widespread usage in the manufacturing of internal and external body parts and vehicle components. CNC Metal Cutting Machines are proving to be immensely beneficial in producing intricate metal parts. The major benefit of these machines is that they can be used to create very precise finishes with smooth edges, which improves the output quality of finished products, and reduces wastage of metals. CNC Metal Cutting Machine is used in different stages of automotive production to ascertain the reliability and safety aspects of the end-products. Currently, around 80 million vehicles are sold worldwide annually, and demand and deployment of CNC Metal Cutting Machines in the automotive industry is projected to continue to increase significantly for production of various vehicle components.
Demand for metal additive manufacturing is another significant factor that has been propelling demand for CNC Metal Cutting Machines. Complex structures produced using additive manufacturing cannot be formed by deploying traditional machining techniques or subtractive methods. Removal of 3D parts from work platforms is an integral procedure of the additive manufacturing technique. The machining of the right component or part is also essential to correct the additive method’s imprecision. CNC Metal Cutting Machines are used to overcome these issues in the production of metal additive parts.
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The COVID-19 impact:
The COVID-19 pandemic has been severely impacting the global scenario. The situation has also hard-hit the CNC Metal Cutting Machine industry, as it has done to other industries and sectors on a global scale. Disruption of the supply chain and shutdown of metal and metallurgy production facilities has led to a major shortage in supply by CNC Metal Cutting Machine producers. Besides, the forced lockdown, social distancing, and transportation and restrictions on movements have resulted in a shortage of workforce and personnel to conduct operations. As the situation improves gradually however, demand and supply gaps are expected to be bridged, and regular operations are expected to be resumed.
Major companies operating in the CNC Metal Cutting Machine market include:
Colfax Corporation, Koike Aronson Inc., Flow International Corporation, Omax Corporation, TRUMPF, Bystronic Laser AG, Nissan Tanaka Corporation, Coherent Inc., Amada Co. Ltd., and Lincoln Electric Holdings Inc., among others.
Further key findings in the report
The CNC Metal Cutting Machine segment revenue is projected to increase at a significant rate over the forecast period. This type of CNC Metal Cutting Machine offers manufacturing flexibility in a range of applications, and has the ability to cut asymmetrical shapes with high accuracy and edge quality from almost any metal. Edge quality is a major benefit of using water jet cutting, as it creates a smooth, even, burr-free edge.
Demand for on-demand cutting of metals and rapid prototyping is relatively high in the aerospace industry owing to the need for faster and more efficient methods of producing metal sheet parts and without any complex production process. Manufacturing at scale can be cost-intensive for aerospace manufacturers. CNC Metal Cutting Machines enable manufacturers to produce and test several porotypes on-field at low cost before commencement of manufacturing at scale, thereby resulting in significant cost saving.
Several industrial manufacturers have started deploying CNC machining in their manufacturing process, as it offers effective, appropriate, and definite production capacity needed to deliver a larger quantity of end-products.
The CNC Metal Cutting Machines market in North America accounted for a substantial market share in 2019 due to growth of the aerospace & defense and automotive sectors. Furthermore, increasing defense budget and presence of leading electronic component manufacturers in countries in the region are factors that are supporting market growth.
In June 2020, Koike Aronson, which is a leader in welding, cutting, and positioning devices, announced the launch of its innovative CNC Metal Cutting Machine, ShopJet. ShopJet has the ability to deliver a wide cutting application range at an affordable cost.
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For the purpose of this report, Reports and Data has segmented the global CNC Metal Cutting Machine market on the basis of product type, industry vertical, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2020-2027)
Laser Cutting Machine
CNC Metal Cutting Machine
Plasma Cutting Machine
Flame Cutting Machine
Industry Vertical Outlook (Revenue, USD Billion; 2020-2027)
Aerospace & Defense
Building & Construction
Electronics & Electrical
Distribution Channel Outlook (Revenue, USD Billion; 2020-2027)
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Regional Outlook (Revenue, USD Billion; 2020-2027)
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CNC Metal Cutting Machine Market Revenue, Region & Country Share, Trends, Growth Analysis Till 2027