The CNC machine market is projected to grow at a CAGR of 7.62% to reach $76.058 billion by 2024, up from $48.965 billion in 2018, according to the “CNC Machine Market – Forecasts from 2019 to 2024” report on ResearchAndMarkets.com.

The growing competitive environment will result in firms pushing their efforts to increase the production in order to improve on an existing market position. The ability of CNC machines to increase productivity along with improving overall safety as compared to conventional machines is significantly driving the CNC machines market.

This research study examines the current market trends related to demand, supply and sales, in addition to recent developments. Major drivers, restraints and opportunities are also covered to provide an exhaustive picture of the market.

The report additionally examines the overall regulatory framework of the market to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Major industry players profiled as part of the report include Dalian Machine Tool Group, Samsung Machine Tools, Okuna and Mazak, among others.