Strong Growth Ahead: Precision Turned Product Manufacturing Market Size To Grow At Arecord 6.7% Cagr By 2029

The Precision Turned Product Manufacturing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Precision Turned Product Manufacturing Market Size Expected to Be by 2034?
In recent times, there has been a significant expansion in the size of the precision turned product manufacturing market. The market is expected to surge from $102.97 billion in 2024 to $110.33 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. Factors contributing to the growth during the historic period include a rising demand for high-precision components, the impact of globalization and outsourcing, innovative materials, and a focus on cost efficiency.

The market for precision turned product manufacturing is projected to witness robust expansion in the coming years. The market size is anticipated to reach $143.26 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%. This growth over the predicted period is likely due to factors such as sustainable manufacturing demand, fast prototyping, additive manufacturing, resilience of the supply chain, adherence to regulations and industry standards. Some of the key trends for the forecast period include digital transformation, integration of additive manufacturing, customization and personalization, and a shift towards reshoring and localization.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14776

What Are the Emerging Segments Within the Precision Turned Product Manufacturing Market?
The precision turned product manufacturing market covered in this report is segmented -

1) By Type: Automatic Screw Machines, Rotary Transfer Machines, Computer Numerically Controlled (CNC), Lathes Or Turning Centers
2) By Operation: Manual Operation, CNC Operation
3) By End User: Automobile, Electronics, Defense, Healthcare

Subsegments:
1) By Automatic Screw Machines: Single-Spindle Automatic Screw Machines, Multi-Spindle Automatic Screw Machines
2) By Rotary Transfer Machines: Horizontal Rotary Transfer Machines, Vertical Rotary Transfer Machines
3) By Computer Numerically Controlled (CNC): CNC Lathes, CNC Milling Machines, CNC Grinding Machines
4) By Lathes Or Turning Centers: Horizontal Turning Centers, Vertical Turning Centers

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14776&type=smp

What Long-Term Drivers Are Shaping Precision Turned Product Manufacturing Market Trends?
The advancement of the aerospace sector is projected to bolster the development of the precision-turned product manufacturing market in the future. This industry encompasses the creation, manufacture, and upkeep of spacecraft, aircraft, and their related systems. There has been a surge in the aerospace sector attributed to rising international investments in defense systems and military aircraft for enhancing national security and combating emerging threats. Precision-turned product manufacturing plays a crucial role in creating high-grade components with strict tolerances that are imperative for performance and safety in aerospace systems. Precision-turned products boost the proficiency and efficiency of aerospace systems, promoting seamless operation, fuel economy, and reduced need for maintenance. For example, in a report that the Aerospace Industries Association, a trade body based in the US, put out in November 2022, the revenue from the aerospace sector saw a rise of 2.1%, hitting $892 billion in 2021. Moreover, exports in aerospace and defense witnessed an increase of 11.2% surging to $100.4 billion between 2020 and 2021. As a result, the expansion of the aerospace sector is a key factor propelling the growth of the precision-turned product manufacturing market.

Who Are the Top Competitors in Key Precision Turned Product Manufacturing Market Segments?
Major companies operating in the precision turned product manufacturing market are Stanley Black & Decker Inc., Parker Hannifin Corporation, Doosan Corporation, Sandvik AB, NSK Ltd., FANUC Corporation, Moog Inc., DMG MORI Co. Ltd., Kennametal Inc., Barnes Group Inc., Gleason Corporation, Haas Automation Inc., Tsugami Corporation, Hardinge Inc., Tompkins Products Inc., Hurco Companies Inc., Tornos Holding AG, Creed Monarch, Greystone of Lincoln, Brother Industries Ltd., Mahr GmbH, Alpha Grainger Mfg, Herker Industries, Hydromat Inc., Swiss Precision Machining Inc.

What Precision Turned Product Manufacturing Market Trends Are Gaining Traction Across Different Segments?
Major enterprises in the precision turned product manufacturing market are innovating advanced systems, including a 2-axis vertical turning lathe, designed to offer an industry-standard solution for machining and unparalleled precision. This type of machine tool, also known as a vertical turret lathe (VTL), is utilized for machining cylindrical pieces. For example, WIDMA Machining Solutions, a manufacturer of metalworking tools based in India, introduced the VT850 vertical turning lathe in November 2023. This precision tool is used for turning, drilling, and threading operations on sizable workpieces. The VT850 comprises heavily ribbed structures optimized through Finite Element Analysis (FEA) and made of FG300 cast iron, which enhances operational rigidity and reduces vibrations. The tool is aimed at expanding the firm's standard product repertoire, speeding up customer service, and ensuring consistent operations. Additionally, the VT850 is designed with a double-row cylindrical roller bearing, adding to the spindle's stiffness and rigidity.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/precision-turned-product-manufacturing-global-market-report

Which Regions Are Becoming Hubs for Precision Turned Product Manufacturing Market Innovation?
North America was the largest region in the precision turned product manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the precision turned product manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Precision Turned Product Manufacturing Market?
2. What is the CAGR expected in the Precision Turned Product Manufacturing Market?
3. What Are the Key Innovations Transforming the Precision Turned Product Manufacturing Industry?
4. Which Region Is Leading the Precision Turned Product Manufacturing Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.