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Home | Search Global IT News: IT News & Press Release Distribution: Forecasting the Rise of the Global CNC Market to $80.4 Billion by 2028 (IT-NEWSWIRE.COM, March 15, 2024 ) The CNC Market is expected to grow from USD 67.5 billion in 2023 to USD 80.4 billion by 2028, at a CAGR of 3.5% during the forecast period. Increasing automation in manufacturing industries globally and rising mass production of high-precision components for high-growth industries. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195192631 The machines segment is expected to lead the global CNC market during the forecast period. CNC machines are the foundation of machining operations in various industries. They form the backbone of CNC systems; without them, the CNC ecosystem would not exist. As primary tools in manufacturing processes, CNC machines play an indispensable role. Additionally, many industries increasingly rely on these machines to meet the demand for complex and precise components. This demand is exceptionally high in sectors, such as aerospace, where safety and precision are paramount, and automotive, where efficiency and quality are crucial. Machining centers are expected to lead the global CNC market during the forecast period. The market is experiencing growth due to manufacturers’ increased focus on investing in technology to develop innovative, energy-efficient, and advanced CNC solutions tailored for end-users. Machining centers are highly versatile CNC machines that can perform various machining operations, including milling, drilling, turning, and more. This versatility makes them suitable for various industries and applications. In addition, machining centers are known for their exceptional precision and accuracy in producing complex and intricate parts. This is critical for aerospace, automotive, and medical industries, where component tolerances are tight. Therefore, the machining centers segment is expected to grow substantially during the forecast period. The automotive & transportation end-user industry is expected to account for the largest share of the CNC market during the forecast period. The automotive industry relies heavily on CNC machines to manufacture precision components such as engine parts, transmission components, chassis parts, and intricate body panels. These machines ensure high accuracy and repeatability, which are crucial for automotive manufacturing. In addition, the shift towards electric vehicles (EVs) has led to the development new components and designs that demand precision machining. CNC machines are used extensively in producing electric motors, battery components, and lightweight materials required for EVs. In addition, rail transportation requires precision-engineered components for trains and locomotives. CNC machines create parts, including axles, wheels, and braking systems, ensuring safety and reliability in rail transport. These factors collectively contribute to the prominence of CNC machines in the automotive & transportation industry, making it the largest segment in the CNC market.   Asia Pacific is expected to hold the largest share of the CNC market throughout the forecast period. The growing manufacturing sector and industrialization in the region majorly drive market growth. Continuous advancements and technological innovations in industries and economic development in major economies, such as China, Japan, and India. This has increased demand for CNC machines in various industries, such as automotive, aerospace, electronics, and precision engineering. In addition, the growing automotive industry in countries, such as China and India has experienced exponential growth. CNC machines are crucial for producing complex and precise components in the automotive sector, driving the demand for CNC machines in the region. Key Market Players: The CNC players have /implemented various types of organic and inorganic growth strategies, such as product launches, product developments, partnerships, and collaborations, to strengthen their offerings in the market. The major players are DMG MORI (Japan), Okuma Corporation (Japan), Makino Milling Machine Co., Ltd. (Japan), Haas Automation, Inc (US), JTEKT Corporation (Japan), DN SOLUTIONS (South Korea), TRUMPF (Germany), Hurco Companies, Inc. (US), Yamazaki Mazak Corporation (Japan), GF Machining Solutions Management SA (Switzerland), CHIRON Group SE (Germany), and others. Ask for Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=195192631 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. MarketsandMarkets™ Mr. Aashish Mehra 1-888-600-6441 sales@marketsandmarkets.com Source: EmailWire.Com Source: EmailWire.com

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