The Computer Numerical Control Machine market is anticipated to reach over 94.5 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the lathe Machine segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
The increasing automation of manufacturing in industries such as healthcare, construction, mining, automotive, and oil & gas among others are expected to support the growth of Computer Numerical Control Machine market. Other driving factors include high accuracy, greater precision, reduced human errors, and increased safety. The increasing demand for mass production would boost the market growth during the forecast period. However, high investment costs hamper the growth of the 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.
Computer Numerical Control Machines are used to automate manufacturing and produce large number of products in diverse applications such as automotive, aerospace, defense, electronics, and healthcare among others. There has been an increasing demand of energy efficient computer numerical control machine over the years. Use of energy efficient computer numerical control machines helps in conserving electricity and reducing costs while manufacturing high quality products. Thus, introduction of energy efficient computer numerical control machines by leading players in the market would provide growth opportunities in the Computer Numerical Control Machine market.
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The Asia-Pacific Computer Numerical Control Machine Market generated the highest revenue in 2017, and is expected to lead the market throughout the forecast period. The presence of emerging industries such as healthcare, agriculture, construction, and automotive, substantial initiatives in research and development, and growing need for automation drive the market growth. Rapid industrialization and growth of manufacturing industry further support the growth of Asia Pacific Computer Numerical Control Machine Market.
The different types of computer numerical control machines include milling machine, lathe machine, grinding machine, welding and winding machine, and others. In 2017, the lathe machine segment accounted for the highest market share. The growing availability of multi-axis machine variants, ease of operation, and high accuracy increase the adoption of lathe machines. They are widely used in industries such as automobile, mining, manufacturing, construction, and others.
The well-known companies profiled in the Computer Numerical Control Machine Market report 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. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.