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U.S. CNC Machines market Size
An increase in application areas of the computer numeric control market is projected to create lucrative opportunities in the U.S. market.
PORTLAND, PORTLAND, OR, UNITED STATE, August 2, 2024 /EINPresswire / -- According to a recent report published by Allied Market Research, titled, U.S. CNC Machines Market by Machine Tool Type and industry Vertical: Opportunity Analysis and Industry Forecast, 2021-2030,”
The U.S. CNC machines market size was valued at $2,314.11 million in 2015, and is projected to reach $4,009.59 million by 2030, growing at a CAGR of 4.9% from 2021 to 2030. Increase in the demand for more accurate operation of manufacturing machine for high precision and implementation of advance technologies such as robotics, industrial automation, and computer aided manufacturing, and computer-aided engineering in automotive and healthcare industries drive the demand U.S. CNC machines industry during the forecast period.
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CNC (Computer Numerical Control) machines refer to automated machining tools that are controlled by computers executing pre-programmed sequences of machine control commands. CNC machines are widely used in manufacturing to produce precise parts and components.
In U.S. CNC machines market based on machining tool, the lathe segment dominated the overall computer numeric control market in 2015, and is expected to continue this trend during the forecast period is attributed to the increase in use of computer numeric control-related machinery and sensor among the digital manufacturing industry. Most healthcare organizations have started adopting these technologies to manufacture all healthcare equipment.
All healthcare equipment is more sensitive and it needs high precision of geometrical dimensions and tolerances. Which improves the overall productivity of medical equipment and boosts the U.S. CNC machines market. However, the milling segment is expected to witness highest growth in the upcoming years as there has been an increase in adoption of CNC software for milling machine among industry vertical such as automotive, aerospace and defense, as it ensures effective functioning of milling machine and machining operations. Where more precise operation is required.
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According to U.S. CNC machines market trends depending on the industry vertical, the industry machinery segment dominated the computer numeric control market share in 2015, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to rise in adoption of computer numeric control system in industrial machinery manufacturing and assembly. As this system is used to control robotic arm which is beneficial for performing crucial operation industry.
However, the automotive segment is expected to witness highest growth in the upcoming years as the demand for automotive vehicle and electrical vehicle is increases in upcoming years and the automotive component are very complicated to manufacture and takes more time to manufacture by manual operation. In addition, CNC machine increases precision as well as accuracy in the dimensions of components, which is anticipated to create lucrative opportunity in the market.
The COVID-19 outbreak has had a positive impact on U.S. CNC machines market growth as CNC technologies are helping enterprises to address the extensive capacity demand of touchless machining operation. By U.S. CNC machines market analysis industries are investing more time and money in digital technology to perform precise manufacturing operations such as metal cutting on CNC lathes, metal slotting on CNC Milling, and surface finishing. The COVID-19 pandemic has accelerated the adoption of new technology and increased industrial reliance on computer numeric control for more precise and accurate operations. However due to lockdown in various states of the U.S. manufacturing industries are closed and this effects negatively on the computer numeric control market in the U.S. Furthermore, during COVID-19 the demand for the production of healthcare equipment such as ventilators and other intensive care equipment increased, which boosts the use of computer numeric control machinery in the manufacturing industry for rapid manufacturing.
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KEY FINDINGS OF THE STUDY
By machining tool, the lathe segment dominated the computer numeric control market in 2015. However, the milling segment is expected to grow significantly during the forecast period.
Based on industry vertical, the industrial machinery segment accounted for the highest revenue of the computer numeric control market in 2015; however, the automotive segment is expected to witness the highest growth rate during the forecast period.
U.S. is expected to exhibit highest growth during the forecast period, as adoption of C.N.C Machine is prominent in this country, owing to growing manufacturing sector. The surge in use of advanced technologies and smart devices in manufacturing companies as well as ongoing developments in digital technology in this region are expected to be the key factors facilitating the growth of the C.N.C machine market. In addition, top key players of U.S. CNC market are developing new ways for human and machine interaction will boost adoption of CNC machine in the U.S..
The report includes a comprehensive analysis of the key players operating in the U.S. CNC market, which includes Bosch Rexroth AG, Dalian Machine Tool Group Corporation (DMTG), Fagor Automation, FANUC Corporation, GSK CNC equipment co. Ltd, HAAS Automation, Inc., Heidenhain Corporation, Hurco Companies, Inc., Mitsubishi Electric Corporation, Okuma Corporation, Sandvik AB, and Soft Servo Systems Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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