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Computer numerical control (CNC) Machinery Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-298 Category: ICT & Electronics

CNC Machinery Market Overview

Computer numerical control or CNC is a machine which is comprised by a mini computer that acts as control unit of that machine. In CNC machine, data is directly fed into the mini computer and all the instructions are given by keyboard. The program is stored in the memory of the computer and the operator can write and edit the program according to the requirement. It provides additional pliability and computational facilities. It works according to the program which is fed to it, and all the process is carried out very efficiently and effectively. It works like a robot and hence the accuracy rate for the process is very high. It reduces human errors with less accessibility of tool wear.

Market size and forecast

Computer numerical control (CNC) market is expected to expand at a CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the CNC machinery market stood at USD 52 Billion in 2015 and is further expected to be USD 92 Billion by the end of 2024. The demand for the CNC machines are hiked due to the fact that they are time efficient and refrain by human errors. Rising disposable income in emerging economics and need for mass production in various sectors are the key factors for the growth of CNC market. The use of CNC machine helps the operator to make the changes effectively without wasting time or waste of the resource. CNC can be equipped by lathe machine, grinding machine, welding machine, milling machine and others. In 2015, lathe machine tools accounted for the highest revenue by machine type in the global CNC market.

CNC Machine market

Geographically, the global market for computer numerical control is led by Asia-Pacific, with the region accounting for a share of approximately 35% in 2015. Developing economies such as China and India have been witnessing robust growth in terms of industrialization, thereby driving the growth of regional market. The CNC market in the European region is projected to grow at a significant rate, during the forecast period owing to the rise in adoption of technology. Increased efficiency, time effectiveness, and precision & accuracy provided across metal working industries such as automobile and manufacturing industries is expected to drive the CNC market.

Market Segmentation

Our in-depth analysis segmented the CNC machinery market in the following segments:

By Machine

  • Lathe
  • Mills
  • Grinders
  • Drills
  • Plasma cuter
  • Electric discharge machining
  • Welding
  • Winding machines
  • Shaping machines

By Industries

  • Automobile
  • Aerospace
  • Defense
  • Electronics
  • Health care
  • Metal and mining
  • Embroidery

By Region

Global CNC Machinery Market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

Increase in the use of improvised techniques such as Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM), enhanced capabilities of manufacturers to offer high precision parts and components, and increase in use of CNC machines in various applications owing to their reduction in costs, mass production of products, and high performance drive the growth of the CNC market. With the help of CNC Machine shaping of complex diagonal cuts and curves is possible with high accuracy and quality. It reduces the time between design and production efficiently. It brings high accuracy and speed, which is not easily attainable by labors. Increase in demand of mass production for various applications including electronic part manufacturing, automobile part manufacturing, machining graphite have strengthen the adoption of CNC machining. Innovative developments in technologies and machine tool equipment along with increase in number of application areas such as micro drilling, dispensing, and rapid prototyping are expected to provide numerous opportunities for the growth and development of the CNC market.

The challenge limiting the widespread adoption of the Computer Numerical controls is high installation and maintenance cost. These machines also require expensive tools for operation and they also require a well- trained operator. These machines also require high machining software language which hinders the market growth.       

Key Players

The key players of CNC Machinery market are as follows:

  • MONDRAGON Corporation (Fagor Automation)
  • FANUC Corporation
  • Heidenhain GmbH
  • Bosch Rexroth AG
  • Sandvik AB
  • Mitsubishi Electric Corporation
  • GSK CNC Equipment
  • Hass Automation
  • Siemens AG
  • Soft Servo Systems

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global CNC Machinery market is segmented as follows:

  • By Machine Market Size & Y-O-Y Growth Analysis
  • By Industries Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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