NEW YORK, March 19, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05360502
The global CNC machines market size is anticipated to reach USD 100.9 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.8% over the forecast period. Increasing need for reducing operating costs, manpower, and errors in components is likely to stoke the growth of the market.
Technological advancements are driving the use of CNC machines in development of highly intricate models/components with a definitive finish.This has subsequently led to a rise in implementation of CNC technology in lathe, milling, laser, grinding, and welding machines.
Integration of CNC machines with computer-aided manufacturing (CAM) helps in reducing the time required for manufacturing of work pieces and enables hassle-free production of components.
Commercial demand for advanced, compact-sized CNC machines with automatic tool changers and multi axis machining technology is on a rise. Several large manufacturing units and plants are increasingly adopting CNC lathes to perform operations such as cutting, drilling, knurling, deformation, facing, and turning operations.
Various milling tools such as Poly Crystalline Diamond (PCD) tools and solid carbide tools are being introduced in the market.These tools offer increased efficiency and versatility while performing operations at the shop floor.
These new tools also offer durability, resistance toward high temperatures, and enable better machining with reduction in vibrations, wear, and noise.
Further key findings from the study suggest:
• The global CNC machines market is anticipated to expand at a CAGR of 6.8% over the forecast period, owing to reduction in cycle time, reduced wastage, and increased efficiency
• The lathe machines segment held the leading share of over 27% in 2016. The growth of the segment can be attributed to availability of 5-axis operation machinery that increases flexibility, reduces operation time, and avoids collision
• The milling machines segment is estimated to post the highest CAGR of 9.5% during the forecast period, owing to features such as multi-functionality and reduced time requirement
• The industrial segment is poised to dominate the market until 2025 and reach a valuation of USD 25.17 billion
• The Asia Pacific region is projected to witness significant growth over the forecast period, owing to increasing number of manufacturing units
• Key participants in the market are Amada Co., Ltd.; DMTG Corporation; Haas Automation, Inc.; Okuma Corporation; and Yamazaki Mazak Corporation, among several others.
Read the full report: https://www.reportlinker.com/p05360502
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