CNC vertical machining centers market size to grow by USD 1,130.34 million from 2022 to 2027: Development of advanced manufacturing processes in the industrial machinery sector to boost growth

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24 Apr, 2023, 10:30 ET

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NEW YORK, April 24, 2023 /PRNewswire/ -- The global CNC vertical machining centers market size is estimated to increase by USD 1,130.34 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 5.37%. The development of advanced manufacturing processes in the industrial machinery sector is driving the market growth. The integration of technologies such as Non-Uniform Rational Basis Spline (NURBS) has led to technological disruption in the market. CNC machines based on NURBS can render a variety of shapes. They help achieve high accuracy in the machining process. In addition, NURBS-enabled CNCs can efficiently handle key materials during machining operations, which reduces wastage. These factors are anticipated to fuel the market growth during the forecast period. Discover some insights on market size, historic period (2017-2021), and forecast period (2023-2027) before buying the full report - Request a sample report

CNC vertical machining centers market – Customer landscape

Our report analyzes the life cycle of the global CNC vertical machining centers market from the innovator's stage to the laggard's stage. The report illustrates the lifecycle of the global CNC vertical machining centers market, focusing on the adoption rates of the major countries such as the US, Canada, China, India, Japan, and Germany. To help companies evaluate and develop growth strategies, the report outlines –

CNC vertical machining centers market – Vendor analysisVendor landscape –

The global CNC vertical machining centers market is fragmented, with the presence of several vendors. A few prominent vendors that offer CNC vertical machining centers in the market are Bharat Fritz Werner Ltd., DMG MORI Co. Ltd., DN Solutions Co. Ltd., Emmegi S.p.A., Gebr. Heller Maschinenfabrik GmbH, Haas Automation Inc., Hurco Companies Inc., Jiuh Yeh Precision Machinery Co. Ltd., Jyoti CNC Automation Ltd., Komatsu Mining Corp., Makino Milling Machine Co. Ltd., Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp., SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., TONGTAI MACHINE and TOOL Co. Ltd., and Yamazaki Mazak Corp. and others.

Vendors compete based on factors such as differentiated product offerings. The market is characterized by long-term supply agreements or contracts between vendors and OEMs or between vendors and service providers. The market has remained relatively stable during the past decade. During the forecast period, it will provide significant growth opportunities for vendors due to increasing digitalization, inclusion of advanced electronics, and automation in various end-user industries. Thus, the market is expected to remain competitive during the forecast period.

Vendor offerings -

CNC vertical machining centers market - Segmentation assessmentSegment overviewTechnavio has segmented the market based on application (automotive, aerospace, metal fabrication, and others), product (less than 5-axis and 5-axis or more), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Geography overviewThe report provides actionable insights and estimates the contribution of all regions to the growth of the global CNC vertical machining centers market.

For some key market insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a sample report

CNC vertical machining centers market – Market dynamics

Key trends - Six-axis CNC machine redefining machining operation is a key trend in the market. Six-axis CNC machines help redefine machining operations. These machines can process the raw material into a finished product without the use of multiple fixtures. The entire machining process is carried out within a single machine, which reduces the need to move the workpiece from one machining tool to another. This prevents batch queuing and facilitates LEAN manufacturing. Six-axis machines can work on complex shapes and simple parts. These factors will support market growth during the forecast period.

Major challenges - The availability of horizontal machining centers and refurbished vertical machining centers is challenging market growth. Manufacturing industries in several mature markets, such as the US and Europe, have shut down operations due to high labor costs and stringent emission regulations. As a result, the availability of refurbished machine centers has increased, which is reducing the procurement of new CNC machines. Refurbished equipment is less expensive, which provides industries with a cost advantage. CNC horizontal machines can replace CNC vertical machines, as they offer superior performance. This reduces the need for integrating CNC vertical machining centers into the production units of end-user industries. These factors will impede market growth during the forecast period.

Drivers, upcoming trends, and several market challenges have an impact on market dynamics and businesses also. Find more such key insights in a sample PDF report!

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CNC Vertical Machining Centers Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.37%

Market growth 2023-2027

USD 1,130.34 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.7

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, China, Japan, Germany, and Italy

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

Bharat Fritz Werner Ltd., DMG MORI Co. Ltd., DN Solutions Co. Ltd., Emmegi S.p.A., Gebr. Heller Maschinenfabrik GmbH, Haas Automation Inc., Hurco Companies Inc., Jiuh Yeh Precision Machinery Co. Ltd., Jyoti CNC Automation Ltd., Komatsu Mining Corp., Makino Milling Machine Co. Ltd., Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp., SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., TONGTAI MACHINE and TOOL Co. Ltd., and Yamazaki Mazak Corp.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio