Europe CNC Machine Market Trends, Growth Opportunities and Overview

Posted by Ryan Shaw on February 12th, 2020

The Europe CNC Machine Market size is expected to reach USD 33.0 billion by 2025, registering a CAGR of 7.1% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Rising demand for multi-axis computer numerical control (CNC) machines equipped with automatic tool changers is expected to drive the market over the forecast period.

CNC machines enable industries to manufacture components in less time and with greater accuracy. Since the past few years, advancements in automation technology have enabled manufacturers to introduce solutions that reduce a significant amount of repetitive work, and subsequently, the machining time.

Europe is considered to be the automotive hub of the world. Countries such as Germany, Spain, France, and U.K. are home to some of the largest automobile manufacturers across the globe. Growing demand for increased production capacity of vehicles such as cars, trucks, cranes, and carriage vehicles in Europe is expected to keep the growth prospects upbeat.

Major players are making large investments in research and development programs for new technologies and products. For instance, in April 2016, FANUC CORPORATION collaborated with Cisco Systems, Inc.; Rockwell Automation; and Preferred Networks with an aim to seek assistance in the development and deployment of the FIELD system. The platform connected CNCs, robots, and peripheral devices and sensors to deliver analytics for the optimization of manufacturing processes.

Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/europe-computer-numerical-control-cnc-machine-market

Further key findings from the report suggest:

• The milling machines segment is anticipated to register the highest CAGR of 9.5% from 2019 to 2025 owing to their ability to perform operations on slots, gears, shafts, spiral surfaces, and several other curved surfaces
• The automotive segment is anticipated to exhibit the highest CAGR of 9.8% from 2019 to 2025. This can be attributed to the presence of a large number of automotive manufacturers in the region
• Italy is expected to register the highest growth over the forecast period and is anticipated to reach USD 9.38 billion by 2025 owing to the country’s strong manufacturing sector
• Key companies in the Europe CNC machine market include Amada Machine Tools Co., Ltd.; DMG Mori Co., Ltd.; DMTG Corporation; Fanuc Corporation; Haas Automation, Inc.; Hurco Companies, Inc.; Okuma Corporation; SMTCL; and Yamazaki Mazak Corporation.