Report ID: SQSG25J2008
Report ID:
SQSG25J2008 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
68 |
Figures:
75
In 2021, the Asia Pacific region held more than 35% of the global market share, and it is expected that it would continue to hold the top position during the projected period. Sales of CNC machines are expected to reach 800,000 units in 2022 and quadruple by 2028. The market demand is attributed to the surge in industrial equipment manufacturing outsourcing services, the availability of inexpensive raw materials in abundance, and low operational costs that fuel the demand for manufacturing outsourcing and increase the sales of CNC machines over the forecast period. During the projection period, Europe is expected to experience a CAGR of 9%. Germany, Italy, France, and the nations of Central and Eastern Europe are the main drivers of the expansion. Over the next few years, market growth is expected to be driven by a lack of workforce forcing metalworking companies to raise their investment in automation to boost the productivity of their CNC machines.
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Report ID: SQSG25J2008