Pune, India -- (SBWIRE) -- 08/09/2018 -- CNC Tool & Cutter Grinding Machine Market 2018
CNC Tool & Cutter Grinding Machine Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. CNC Tool & Cutter Grinding Machine Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
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.
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Haas Automation, Inc., ANCA Pty Ltd., DANOBAT Group, Makino Milling Machine Co., Ltd., J Schneeberger Maschinen AG, and Vollmer collectively accounted for more than 30% of the market share of the global CNC tool & cutter grinding machine market in 2017. These companies continue to retain their strong global presence through product development and expansion.
The global CNC tool and cutter grinding machine market is anticipated to reach USD 4,067.7 million by 2023, as per a new report by Market Research Future (MRFR). It is expected to exhibit a CAGR of 4.52% during the assessment period (2018-2023). The growth is supplemented by expansion of automotive and aerospace sectors inducing the demand for CNC machines to produce components in various sizes and shapes.
Computer numerical control (CNC) tool and cutter grinding machines are used for sharpening tool bits and other machines. These machines expedite the production rate by automating the entire process. These tools use computer-aided design (CAD) and computer-aided manufacturing (CAM) software to produce various components. Technological advances in CNC equipment can augur market growth over the forecast period.
Emergence of Internet of Things (IoT) and continuous evolution of machine learning are factors estimated to drive market demand. Subsequent use of CNC tools to produce components on a large scale is expected to play a major role in the market. In addition, adoption of automation to streamline assembly lines coupled with establishment of various industrial hubs are anticipated to bolster market demand in the coming years.
On the basis of regions, the global CNC tool and cutter grinding machine market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC market accounted for 37.7% share in 2017. Presence of various industrial hubs coupled with a robust manufacturing sector across South Korea, China, and India can augur market growth in the coming years. The APAC market is estimated to showcase a 5.12% CAGR during the forecast period. China can contribute to market revenue owing to abundance of raw materials and low labor costs. Demand for consumer electronics and cars is predicted to facilitate market demand.
The Europe region is projected to expand at a phenomenal growth rate over the forecast period owing to rise in export and import trade activities. Presence of major automobile manufacturers such as Audi and BMW can influence market demand. Countries such as France, Germany, and Spain can augment market demand owing to presence of various manufacturers.
DANOBAT Group, ANCA Pty Ltd., Vollmer, Haas Automation, Inc., J Schneeberger Maschinen AG, and Makino Milling Machine Co., Ltd are prominent names in the CNC tool and cutter grinding machine market. Other noteworthy names include WIDMA Machine Tools, ISOG Technology GmbH, JTEKT Corp, Korber AG, Amada Machine Tools Co., Ltd., Rollomatic SA, Alfred H. Schütte GmbH & Co. KG, Gleason Corporation, Gebr. SAACKE GmbH & Co. KG, and JUNKER Group. Mergers and acquisitions, partnerships with vendors, and new products are strategies employed by players to gain a larger share of the market.
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