The global computer numerical control machine market size was valued at USD 61.9 billion in 2018 and is anticipated to grow at CAGR 7.1% during the forecast period. CNC machines control the directional movement of tools and accompanying machinery through pre-programmed software. The CNC machines comprise a microcomputer which is the controller unit. The microcontroller accepts instructions in the form of inputs given from a small board. The different types of machines that fall under its ambit include lathe, milling, drilling, laser, grinding, drilling, winding and welding among others. CNC machines are employed widely in automobile, aerospace, defense, healthcare, electronics, mining and transportation among others.
The CNC machine market is anticipated to pursue strong growth during forecast period because of technological advancements in production stream leading to less time taken for completion of finished job and secondly, a finesse to produce components with finer surface finish. Emergence of Internet of Things (IoT) and machine learning (ML) technology has made them automated and user-friendly to notify operators’the status on their PC’s or smart phones.
Know more about this report: request for sample pages
Introduction of new and helpful premise that performs multiple operations such as drilling, cutting, grinding, turning and facing reduce the need for intervention by attendants and so also reduce human glitches. The new models are compact, and space-saving so require less floor space as compared to traditional machinery. This proves instrumental in growth of CNC machines market though disadvantages which include the cost of maintenance which adds a new dimension to the human- machine interdependence.
CNC machines are used in automotive, aerospace and defense, power and energy, construction equipment, industrial and various other sectors. An effort to lower expenditure incurred by operators to manage machinery is one big reason for growth of CNC machines over forecast period.
The increasing automation in manufacturing sector along with industrial growth on a global scale drives the market. The benefits of CNC machines are many. They decrease operating costs while improving production efficiency causing growth. The market is expected to grow during forecast period owing to urbanization and mechanization in industry. They are helped along by mass production across various industries that will support growth of CNC machines. The major factors that these machines have got going for higher growth include greater accuracy and precision, time perfection and reduced human errors. Restraints include high investments coupled with government regulations that hamper growth. The factors inducing higher growth in CNC Market include a rising demand from developing economies and technological preparedness in a growing market in forthcoming years.
Know more about this report: request for sample pages
The global Computer Numerical Control Market is segmented, on the basis of type, application and region. Based on type, the market is segmented into Milling, Lathe, Grinding, welding, Winding, laser and others. The application segment is divided into Industrial, Automotive, Aerospace and Defense, electronics and others.
CNC lathe machines segment were the biggest leader in CNC market due to multi-axis machine industry variants, recent finishes by 5 axis and 6 axis lathes can perform operations from both ends and be assured of delivering fine cuts and better finishes. The simplicity of operations and plethora of applications are escalating their use across the globe.
The milling segment is deemed to gaining high market traction because of reduced operational costs and improvements in machining speed with requirement of low operator work force.
Increasing demand from the automotive, industrial, and power and energy sectors is poised to drive industrial growth in CNC Market. An unavoidable demand for automobile manufacturers by relaxing time to carry out jobs of mass production over forecast period is portending growth for CNC Machines Market. Various industries including aerospace and defense using complex machinery that require high levels of precision and good quality of surface finish and which can be obtained only with CNC technology is creating high growth for this industry.
Asia Pacific witnessed largest share in global CNC Machine market in 2018. The leading players are stepping out with new products to cater to a buoyant market. Global Players are warming up to new markets in developing regions in order to expand their customer base and pursue a powerful market presence. Presence of a well-defined automotive industry in European region will provide a significant boost to the market in the region.
Major companies such as Okuma Corporation, Yamazaki Mazak Corporation and DMG Mori Co. Ltd. are headquartered in regions of Asia Pacific. These factors play a decisive role in making Asia Pacific the fast growing region during forecast period.
The leading players in the CNC Machine Market include Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., and Yamazaki Mazak Corporation among others.