China CNC Machining Services in Market (China CNC Machine Parts Sales, CNC Machining Solutions
The Global CNC Machining Services market is expected to expand at a CAGR of 5.0% during the period 2019 – 2026. The growth of this market can be attributed to the increase in demand for precision products and rising production rates. In addition, the need for automation and advanced technology is also affecting growth of this industry
China is one of the leading manufacturers of CNC machine parts. China has become a major player in global manufacturing industry with low labor costs, abundant raw materials and skilled workers. China*s manufacturing sector accounts for ~12% of global output value, which is nearly twice as much as that produced by Japan and Germany combined (World Bank)
In 2017, China exported about $9 billion worth of machined metal components to more than 50 countries around the world. This represents an increase from $7 billion exported in 2016 and $5 billion in 2015 (World Bank).
china cnc machining turning