LONDON--(BUSINESS WIRE)--The global CNC vertical machining centers market is poised to reach USD 1 billion by 2023, according to a new report by Technavio, progressing at a CAGR of almost 5% during the forecast period.
“The growth in the sales of buildings, cars, and heavy machinery has positively influenced the demand for fabricated metals. Many component manufacturers are increasing their focus toward improving the quality of fabricated metal parts. In addition, the rising focus on developing precisely manufactured components with high tolerance standards is driving the adoption of CNC vertical machining centers among end-users. These are some of the key factors that will fuel the growth of the global CNC vertical machining centers market,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the rising demand for fabricated products. In addition, the development of advanced manufacturing processes is anticipated to further boost the growth of the global CNC vertical machining centers market.
Most of the demand for fabricated metal products comes from end-users across the automotive, construction, heavy machinery, and aerospace industries. Over the past decade, the strong growth of these industries has increased the demand for fabricated metals. Many automotive parts manufacturers are increasing their focus on enhancing the quality of fabricated metal products. This has increased the use of CNC vertical machining centers as they enable easy changing of tools to facilitate diverse metal cutting processes and develop superior quality products. Such developments are driving the growth of the global CNC vertical machining centers market.
The integration of modern technologies such as Non-Uniform Rational Basis Spline (NURBS) is enabling CNC vertical machining centers to render a variety of shapes. NURBS help CNC vertical machining centers achieve high accuracy in the machining process through enhanced jerk control. In the die and mold industry, it helps to improve product accuracy by optimizing control operations conducted over cutting and other operations in each axis. NURBS-enabled CNCs are also capable of handling materials that can deform under improper application of force during machining operations. These developments are increasing the efficiency of the machining process by reducing material wastage. The rising adoption of such advanced manufacturing technologies by end-users will further boost the growth of the global CNC vertical machining centers market.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- DMG MORI Co. Ltd.
- Doosan Corp.
- Haas Automation Inc.
- Hurco Co. Inc.
- Komatsu Ltd.
- Makino Milling Machine Co. Ltd.
- Okuma Corp.
- SCM GROUP Spa
- Shenyang Machine Tool Co. Ltd.
- Yamazaki Mazak Corp.
Market Segmentation by Product:
- Less than 5-axis CNC vertical machining centers
- 5-axis or more CNC vertical machining centers
Market Segmentation by End-Users:
- Metal fabrication
- Other end-users
Key Regions for the CNC Vertical Machining Centers Market:
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report.
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