Market segmentation analysis for a CNC manufacturer — Case Study
With the advent of modern manufacturing techniques such as CNC milling, etc., industrial applications have been pushed to the forefront of modern innovation. CNC milling machines are often used in various manufacturing industries such as — the aerospace sector, shipping, automotive, oil drilling/pumping & refining, healthcare, FMCG, as well as among various precision engineering sectors. Key highlights of the Global CNC milling machine market are: 1. The automotive and electrical & electronics industries were major end-users of CNC milling machines, accounting for over 60% of its total market share in 2020. 2. Due to imposed lockdowns, several automotive manufacturers were forced to halt operations at their respective production facilities, which in turn resulted in the decline of CNC machine utilization. 3. The markets in the APAC and North American regions are expected to register a greater level of traction with respect to the demand for machine tools. 4. The 3-axis-type