Global Metal Machining Market Set to Expand by USD 18.43 Billion With a CAGR of 4% From 2023 to 2028

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Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "Global Metal Machining Market 2024-2028" report has been added to ResearchAndMarkets.com's offering.

The global metal machining market is poised for significant growth in the coming years, with a projected increase of USD 18.43 billion from 2023 to 2028, progressing at a compound annual growth rate (CAGR) of 4.03%.

This growth trajectory is underpinned by several key factors, including an upsurge in demand within the oil and gas sector, a broadening of metal machining production facilities, and heightened investments in various infrastructure initiatives. These elements are expected to collectively bolster the market environment and propel the metal machining industry forward.

Segmentation of the Market

The market is analyzed through a detailed segmentation process which is classified by application and type. Significant segments include the automotive, construction, and aerospace sectors, among others.

By type, the market is further subdivided into categories such as laser cutting machines, plasma cutting machines, flame cutting machines, and waterjet cutting machines, each serving distinct purposes and contributing to the industry's expansion.

Furthermore, regional analysis highlights the market landscapes of APAC, North America, Europe, South America, and the Middle East and Africa.

Innovation and Technological Advancements

In addition to the aforementioned growth drivers, the market is also set to be substantially influenced by the escalating adoption of automation within metal machining processes. Additionally, the integration of the Internet of Things (IoT) into industrial machinery and the advent of 3D printing technology are recognized as transformative trends that are anticipated to fuel demand and market growth in the near future.

The report delves into a variety of market aspects, including profit margins, pricing strategies, competition landscape, and promotional tactics, presenting a clear and complete overview of the metal machining sector. The study further explores the competitive scene, providing insights into strategic positioning for clients aiming to improve their market presence.

The report on the metal machining market covers the following areas:

• Metal machining market sizing

• Metal machining market forecast

• Metal machining market industry analysis

The metal machining market is segmented as below:

By Application

• Automotive

• Construction

• Aerospace

• Others

By Type

• Laser cutting machine

• Plasma cutting machine

• Flame cutting machine

• Waterjet cutting machines

By Geographical Landscape

• APAC

• North America

• Europe

• South America

• Middle East and Africa

Companies Profiled

• AMADA

• Atlas Copco

• Bystronic Laser

• DMG MORI

• DN Solutions

• Guangzhou Komaspec Mechanical and Electrical Products Manufacturing Co.

• IPG Photonics

• Jet Edge

• JTEKT

• Matsu Manufacturing

• Messer Cutting Systems

• Okuma

• Otter Tail

• Sandvik

• Shenyang Yiji Machine Tool Sales

• TRUMPF

• Yamazaki Mazak

• FANUC UK

• Mayville Engineering

• Jenoptik

For more information about this report visit https://www.researchandmarkets.com/r/83eho8

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