5-Axis CNC Machining Centers Market Size to Grow by $ 627.30 Million through 2021-2025
Technavio research projects the 5-axis cnc machining centers market to grow by $ 627.30 million, accelerating at a CAGR of almost 6% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
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5-Axis CNC Machining Centers Market: Key Market Driver
One of the primary factors that will trigger the growth of the 5-axis cnc machining centers market size is amplified requirement for multi-disciplinary machines. The increasing requirement for multi-disciplinary machines across the globe will drive the growth prospects for the global 5-axis CNC machining centers market. The market is witnessing a huge shift from traditional machines toward the 5-axis computer numeric control (CNC) machining centers that combine all the operations in a single machine to increase productivity and reduce the processing time. External threading, threading, internal threading, parting off, and external grooving are some of the other multiple functions that can be performed by the same machine without changing the workpiece. The turning tools in these multi-function machines are used in the same way as in a normal turning center, which will again, fuel the transition from traditional machines in the next few years.
5-Axis CNC Machining Centers Market: Top trends to Boost Growth
The cutting process primarily consists of 5-axis milling and gun drilling processes and operations. The rising self-optimization capability of these processes in 5-axis CNC machines is likely to increase the production efficiency of the cutting process along with a reduction of cost The growing customer demand for high-quality products has resulted in companies across industries adopting automation in their manufacturing operations. Businesses and investors across the world are investing in process automation. The use of computer-aided design (CAD) and computer-aided manufacturing (CAM) software to design 5-axis CNC machining components results in machines that ensure high accuracy. The rise in need for technologically advanced 5-axis CNC machines is one of the key trends driving the growth of the market during the forecast period.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
5-Axis CNC Machining Centers Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. FANUC Corp., Haas Automation Inc., Hurco Companies Inc., Jyoti CNC Automation Ltd., Makino Milling Machine Co. Ltd., Mitsubishi Electric Corp., Okuma Corp., SCM GROUP Spa, Siemens AG, and Yamazaki Mazak Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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5-Axis CNC Machining Centers Market: Report Highlights:
Market Segmentation by Product