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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806005672/en/
Technavio has announced its latest market research report titled Global CNC Machine Tools Market 2020-2024 (Graphic: Business Wire)
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact
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?
- 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:
- CNC Lathe Machines
- CNC Milling Machines
- Other CNC Machines
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41353
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.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
CNC Machine Tools Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist CNC machine tools market growth during the next five years
- Estimation of the CNC machine tools market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the CNC machine tools market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of CNC machine tools market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- CNC lathe machines - Market size and forecast 2019-2024
- CNC milling machines - Market size and forecast 2019-2024
- Other CNC machines - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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
- Yamazaki Mazak Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.