CNC Tool and Cutter Grinding Machine Market
Global CNC Tool & Cutter Grinding Machine Market Research Report By Type (Tool & Cutter Grinding Machine, Universal Grinding Machine and Blank and Cylindrical Grinding Machines) By Application(Automotive, Aerospace and Defense and Electrical and Electronics Manufacturing), By Region – Forecast to 2023.
Market Research Future (MRFR) in its latest study finds the global cnc tool and cutter grinding machine market is set to surpass a valuation of USD 4,000 Mn by the year 2023, reflecting a CAGR of 4.52%. Growing business opportunities from aerospace and automotive sectors is favouring the market. These two sectors are expected to remain major consumers of cnc machines.
Computer numerical control (CNC) tool and cutter grinding machines are a leading-edge industrial equipment used for cutting, trimming, and sharpening. Such machines offer high precision, which make them a sought-after industrial equipment. Moreover, the speed-up the manufacturing process and help is improving production capacity. Cnc tools are integrated with platforms such as computer-aided manufacturing (CAM) and computer-aided design (CAD). Advances in cutting technology has augured well for the market. At the same time, introduction IoT assisted cnc cutting equipment characterises the efforts that are made towards innovation. Modernization of the manufacturing sector has created significant opportunities for such machines while driving innovation. Rising automation trends and advances in machines learning is expected to influence the market during the forecast period (2018-2023). As manufacturers move towards automation to streamline manufacturing process, cnc tool and cutter grinding machines are gaining more prominence.
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Global CNC Tool and Cutter Grinding Machine Market: Segmental Analysis
MRFR’s report includes a thorough segmental analysis of the market based on application and type. By application, the market has been segmented into defense, aerospace, automotive, and electronical and electronics manufacturing. Among these, the automotive segment is projected to exhibit an impressive growth during the forecast period. The aerospace segment and defense segment are also expected to witness a healthy growth over the next couple of years. On the basis of type, the market has been segmented into cylindrical grinding machines, universal grinding machine and blank and tool & cutter grinding machine. The blank and cylindrical grinding machine segment will remain highly lucrative during the assessment period. This is owing to the increased usage of blank and cylindrical grinding machine in various manufacturing domains. These machines offer versatility in terms of cutting range, which makes them extremely popular. In addition, the are being increasingly used in bushings, bearing, manufacturing rods etc. The universal grinding machine segment is also projected to witness a healthy CAGR during the forecast period.
Global CNC Tool and Cutter Grinding Machine Market: Regional Analysis
The market has been covered across regions such as North America, Latin America, the Middle East & Africa (MEA), Europe and Asia Pacific (APAC). In 2017, the APAC market commanded more than one-third share of the market. Proliferation of various manufacturing sub-sectors along with rapid industrialization in countries such as China, India and South Korea has provided a major boost to the region’s market. During the forecast period, the market in APAC is expected to exhibit an above-average CAGR of 5.12%. APAC countries offer cost benefit, which makes then an attractive business destination. Low cost of labor and raw material has enabled the region to emerge as a mega-manufacturing hub of the world. The market is Europe is also expected to witness a strong growth during the forecast period. The region is home to some of the largest manufacturing sectors such as automotive, aerospace and furniture among others.
Global CNC Tool and Cutter Grinding Machine Market: Competitive Landscape
Some of the leading market players profiled in MRFR’s report include J Schneeberger Maschinen, AG, DANOBAT Group, ISOG Technology GmbH, Korber AG, Rollomatic SA, Gleason Corporation, JUNKER Group, ANCA Pty Ltd., Vollmer, Gebr. SAACKE GmbH & Co. KG, Haas Automation, Inc., WIDMA Machine Tools, Makino Milling Machine Co., Ltd, Alfred H. Schütte GmbH & Co. KG, JTEKT Corp, and Amada Machine Tools Co., Ltd.
Industry News
• CGTech recently exhibited its latest VERICUT Force module at, more than 20 representatives form prominent manufacturing and technology companies from Belgium and Netherlands were present during the event. VERICUT Force module is based on physics-based-feed rate optimisation.
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