Market Research Future’s Review on CNC Router Market
CNC Router Market is projected to expand at a of CAGR 6.14% over the forecast period (2019-2025), according to Market Research Future (MRFR) in its latest report.
The COVID-19 pandemic has halted industrial production of various goods but has provided a golden opportunity for CNC routing machine makers. Dividers used in pharmacies, restaurants, hospitals, and grocery stores are made on a CNC router and can induce heavy market demand during the pandemic. The stands can be manufactured using different materials and be customized according to need. Huge need for protective shields such as barrier shields, face shields, splash guards, and intubation boxes can be potential production opportunities for product makers. It can be completed in record time due to the use of CNC machines. For instance, The Tom Love Innovation Hub and University of Oklahoma have decided to collaborate on their efforts for building essential equipment designs to aid healthcare workers.
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Key Companies Covered in the Report
Anderson Group (Taiwan)
MultiCam Inc. (U.S.)
The Shoda Company (Japan)
Exel CNC Ltd (U.K.)
Carbide 3D LLC (U.S.)
Biesse Group (Italy)
Thermwood Corporation (U.S.)
HOMAG Group (Germany)
Komo Machine (U.S.)
and AXYZ Automation Group (Canada)
are major suppliers in the global CNC router market.
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Construction to be Biggest Industry End-user
The construction industry is expected to be the biggest revenue generator in the market owing to huge demand for wood construction and adoption of advanced machinery for time saving applications such as routing, cutting, and drilling.
The automotive industry is expected to undergo major changes as it grapples with environmental legislations and new manufacturing codes for limiting carbon emissions. Huge demand for hybrid and electric vehicles can drive the demand for CNC routes in carving new designs for doors, hoods, and car trunks. Replacement of fuel-driven cars will present a new growth pocket for the CNC router industry.
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APAC to Register Fastest Growth Rate
APAC is expected to register the fastest growth rate over the forecast period owing to large industrial hubs in India, China, and Japan. Production of automotive components and industrial parts are likely to drive the market demand in the region. The revival of the automotive sector and its expansion plans are likely to fare well for the global CNC router market. Huge demand for CNC routers in construction for woodworks can bode well for the market.
Europe to Assume Second Position
Europe has assumed the second position in the CNC router industry owing to increased trading and adoption of advanced technology. Presence of automotive manufacturers such as Volvo, Audi, and BMW as well as investments in research and development can drive the regional market demand.
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