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U.S. CNC Machines
The U.S. CNC machines market was estimated at $2.53 billion in 2020 and is expected to hit $4.00 billion by 2030, registering a CAGR of 4.9% from 2021 to 2030.
PORTLAND, PORTLAND, OR , UNITED STATES , August 24, 2022 /EINPresswire.com / -- Rise in need for precision and time effectiveness and surge in demand from production plants fuel the growth of the U.S. CNC machines market . On the other hand, high cost of CNC machines restrains the growth to some extent. However, increase in application areas and upsurge in use of robotics & automation in the manufacturing industry are anticipated to pave the way for lucrative opportunities in the industry.
Key market players such as - Dalian Machine Tool Group Corporation (DMTG), Soft Servo Systems Inc., Fagor Automation, GSK CNC equipment co. Ltd, HAAS Automation, Inc., Heidenhain Corporation, Hurco Companies, Inc., Mitsubishi Electric Corporation, Okuma Corporation, FANUC Corporation, and Sandvik AB.
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The U.S. CNC machines market is analyzed across machine tool type and industry vertical. Based on machine tool type, the lathes segment accounted for around one-third of the total market share in 2020, and is anticipated to rule the roost by 2030. The mills segment would register the fastest CAGR of 6.8% during the forecast period.
Based on industry vertical, the industry machinery segment contributed to more than one-third of the total market revenue in 2020, and is expected to lead the trail by the end of 2030. The automobile segment, however, would exhibit the fastest CAGR of 8.0% throughout the forecast period.
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COVID-19 scenario-
• During the pandemic, establishments that organized computer numeric control earlier have been able to easily adapt to the new variant of virus due to lesser contact between humans and machines. Growing demand for CNC machines in the United States has boosted the market in more than one way.
• This trend is most likely to persist, since computer numeric control help organizations cope with the ongoing pandemic and maintain economically positive operations.
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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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