CNC Machine Tools Market 2020–2024 | Innovation in CNC Machines to Boost Growth | Technavio

Technavio has been monitoring the CNC machine tools market and it is poised to grow by USD 24.91 billion during 2020–2024, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions-

• What was the value of the CNC machine tools market in 2019?
• Technavio says that the value of the market was USD 45.82 billion in 2019 and it is projected to reach USD 70.73 billion by 2024.
• At what rate is the market projected to grow during the forecast period 2020–2024?
• Growing at a CAGR of over 9%, the market growth will accelerate during the forecast period.
• What is the key factor driving the market?
• The innovation in CNC machines is one of the key factors driving the market growth.
• Who are the top players in the market?
• 600 Group Plc, AMADA HOLDINGS Co. Ltd., DMG MORI Co. Ltd., FANUC Corp., General Technology Group Dalian Machine Tool Corp., JTEKT Corp., Komatsu Ltd., Shenyang Machine Tools Co. Ltd., TRUMPF GmbH + Co. KG, and Yamazaki Mazak Corp are some of the major market participants.
• Which region is expected to hold the highest market share?
• APAC
• What is the year-over-year growth rate of the global market?
• The year-over-year growth rate for 2020 is estimated at 8.56%.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 600 Group Plc, AMADA HOLDINGS Co. Ltd., DMG MORI Co. Ltd., FANUC Corp., General Technology Group Dalian Machine Tool Corp., JTEKT Corp., Komatsu Ltd., Shenyang Machine Tools Co. Ltd., TRUMPF GmbH + Co. KG, and Yamazaki Mazak Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Innovation in CNC machines has been instrumental in driving the growth of the market.

CNC Machine Tools Market 2020–2024: Segmentation

CNC Machine Tools Market is segmented as below:

• Product
• Geography
• CNC Lathe Machines
• CNC Milling Machines
• Other CNC Machines
• APAC
• Europe
• North America
• South America
• MEA

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CNC Machine Tools Market 2020–2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our CNC machine tools market report covers the following areas:

• CNC Machine Tools Market size
• CNC Machine Tools Market trends
• CNC Machine Tools Market analysis

This study identifies the advantages of CNC machine tools over conventional machines as one of the prime reasons driving the market growth during the next few years.

CNC Machine Tools Market 2020–2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the CNC machine tools market, including some of the vendors such as 600 Group Plc, AMADA HOLDINGS Co. Ltd., DMG MORI Co. Ltd., FANUC Corp., General Technology Group Dalian Machine Tool Corp., JTEKT Corp., Komatsu Ltd., Shenyang Machine Tools Co. Ltd., TRUMPF GmbH + Co. KG, and Yamazaki Mazak Corp. Backed with competitive intelligence and benchmarking, our research reports on the CNC machine tools market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.