U.S. CNC Machines Market is Expected to Reach USD 11.46 Billion By 2025
Posted by Marketoverview on December 17th, 2018
17 December 2018, The U.S. CNC Machines Market size is expected to reach USD 11.46 billion by 2025. This growth is attributed to rising demand from widespread applications owing to features such as cost-efficiency, better productivity, and improved quality. Moreover, advancements in technology have led to the development of modern CNC machine controls along with IoT, which is expected to bring several innovations in the field with regards to automation. Such innovations are expected to fuel the demand for CNC machines over the forecast period. CNC machines are segmented into lathe, milling, grinding, welding, winding and other machines that are widely used by different end-users.
Features such as altering spindle speed and feed rate, tool changing results in improved accuracy at low cost, which is expected to boost the market demand over the projected period. Moreover, the operation of CNC with milling machine is expected to be the dominant segment by 2025 owing to increasing demand. The technology enables improved rate of operations by means of computerized codes and automation that help overcome human errors and accelerates to achieve better quality, productivity, and cost efficiency. In terms of end-use, the market is segmented into automotive, aerospace and defense, construction equipment, power and energy, industrial, and others.
Growing purchasing power of individuals has resulted in an increased demand for passenger cars that has led to a noticeable growth in demand for automotive components. The growing usage of CAD, CAM, and CNC in equipment manufacturing and machining by construction equipment industry is expected to drive the market demand. Growing number of power plants and energy units in U.S. is estimated to foresee high demand for the technology in power and energy sector over the forecast period. Various regulatory trends for safety have been directed by the government where CNC machines must be free from obstacles and the path of CNC router must be clear to avoid accidents.
In addition, several regulatory boards have set up an eligibility criterion, providing adequate training to the operators that are required to meet the expectations. Such initiatives are expected to drive the market demand in the upcoming years. Additionally, several organizations such as Occupational Safety and Health Administration (OSHA) has laid down regulations for the adequate training machinists, mandatory dry run, clear CNC router path, and appropriate dress code for the operators while working on the shop floor. Technological advancements, in terms of development of software and applications, that allow managers to track the activities carried out by shop floor operators is expected to increase the overall penetration across different industries.
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