August 21, 2019 by freemexy
CNC Machining Projected to be $100B Industry by 2025
In recent years, an increasing number of production facilities have adopted CNC lathes as their tooling of choice. By 2025, experts expect the global CNC machine market to grow to $100.9 billion in value, registering an annual growth rate of 6.8%.
Leading the Market
Through 2025, this segment will likely continue to dominate this area of the market, reaching an expected valuation of $25.17 billion.
CNC Market Drivers
Because CNC machines allow for an incredible degree of accuracy when carving complex shapes such as diagonal cuts and curves, demand has exploded with the rise in technological advancements of CAD, CAM, and other CNC software.
By saving end users significant time between design and production, CNC machining improves a facility's capabilities and increases revenue. CNC machinery also provides more precise detailing than 3D printers and works with a wider range of materials.
This improved production capacity, as well as the enhanced quality and precision CNC tooling brings, make it a solid choice for manufacturers across a wide range of industries.