October 23, 2023 07:08 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The "Computer Numerical Control (CNC) Machines - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. Abs Cnc Machining
The global Computer Numerical Control (CNC) Machines market is experiencing substantial growth, with an estimated valuation of US$55.1 billion in 2022. Projections indicate that the market will expand further, reaching a size of US$85.2 billion by 2030, reflecting an impressive Compound Annual Growth Rate (CAGR) of 5.6% over the analysis period from 2022 to 2030. Among the key segments analyzed, the Lathe segment is expected to record a CAGR of 5.7%, reaching a value of US$25.5 billion by the end of the analysis period. The Milling segment is also set to grow at a robust CAGR of 6.9% over the next 8 years.
The U.S. market for CNC Machines is estimated at US$10.4 billion in 2022, while China, the world's second-largest economy, is projected to reach a market size of US$20 billion by 2030, with an impressive CAGR of 7.2% over the analysis period from 2022 to 2030. Noteworthy growth is expected in Japan and Canada, with each market forecasted to grow at 4% and 4.7%, respectively, over the 2022-2030 period. In Europe, Germany is expected to achieve a CAGR of approximately 4.5%. The Asia-Pacific region is anticipated to experience substantial growth, led by countries such as Australia, India, and South Korea, with the market forecasted to reach US$15.3 billion by 2030.
The CNC Machines market features a competitive landscape with several prominent players. Some of the key competitors in the market include:
The global economic outlook is showing signs of improvement, albeit with challenges. Several factors, such as slowing GDP growth in the United States, easing inflation in the Euro area, and strong GDP growth in China, are shaping the economic landscape. India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.
However, challenges remain, including persisting global inflation, food and fuel price concerns in developing countries, and high retail inflation affecting consumer confidence and spending. Governments are working to combat inflation by raising interest rates, which could slow job creation and economic activity. Additionally, a stricter regulatory environment and the integration of climate change into economic decisions add complexity to the challenges faced.
Despite these challenges, the rise of new technologies such as AI, machine learning, cloud computing, and renewables is expected to drive growth and value to global GDP. These technologies offer opportunities for businesses and leaders who can adapt and innovate in the evolving economic landscape.
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
III. MARKET ANALYSIS IV. COMPETITION
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