The global computer numerical control machine market was valued at USD 57.2 billion in 2017 and is anticipated to grow at a CAGR of 5.8% during the forecast period. CNC machines are used for manufacturing processes to control the movement of tools and machinery through pre-programmed computer software. The CNC machines comprise of a microcomputer, which is the controller unit of the machine. In CNC machines, the program is fed directly into the computer through a small board for control of complex machinery. The different types of CNC machines include lathe machines, milling machines, drilling machines, plasma cutters, electric-discharge machines, and water jet cutters among others. Computer Numerical Control Machines are widely used in automobile, aerospace, defense, healthcare, electronics, mining, and transportation among others.
The increasing automation in manufacturing sector, along with global industrial growth drives the Computer Numerical Control Machine market. Use of CNC machines decrease operating costs while improving production efficiency, supplementing the growth of the market. The global CNC machine market is expected to grow during the forecast period owing to growing industrialization and urbanization across the globe. The rising demand for mass production across various industries support the growth of the CNC machine market. Other factors such as greater accuracy and precision, time efficiency, and reduced human errors would boost the market growth during the forecast period. However, high investment along with government regulations hampers the growth of the global Computer Numerical Control Machine Market. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The global computer numerical control machine market is segmented on the basis of type, application, and region. Based on type, the market is segmented into Milling Machine, Lathe Machine, Grinding Machine, Welding and Winding Machine, and others. The application segment is divided into Industrial, Automotive, Aerospace and Defense, Electronics, and others.
The global computer numerical control machine market report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific accounted for the largest share in the global Computer Numerical Control Machine market in 2017.
The leading players in the computer numerical control machine market include Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNC Equipment Co. LTD, Amada Machine Tools Co., Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heidenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., Yamazaki Mazak Corporation among others. The leading players in the market are introducing new innovative products in the market to cater to the growing consumer demands. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.