Global CNC Machine Market expected to reach USD 126.1 Billion by 2028, at a CAGR of 7.3% between 2021 and 2028. Computer Numerical Control (CNC) is the automated control of numerous machines, tools, equipment, and 3D printers via computer device implementation.
The report encompasses a forecast and an analysis of the CNC machine market on a global and regional level. The study provides historical information from 2016 to 2020 along with a forecast from 2021 to 2028 based on volume (K Units) and revenue (USD Billion). The assisting growth factors and obstacles are also given due attention to our report. It also elaborates the impact of the market within the forecast period. Moreover, opportunities accessible within the CNC machine market on a global level are separately discussed in the report.
To enable our users to get a comprehensive idea of the CNC machine market, we have illustrated the detailed value chain analysis. As well to study the competitive landscape of the market, analysis of the Porter five forces model is illustrated in our report. The study involves a market attractiveness analysis, where benchmarking of all segments is facilitated with knowledge of respective market share, growth rate, and general attractiveness.
The study also entails insights into the market share of CNC machine manufacturers at a global domain. Likewise, the report emphasizes strategic development accompanied by acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures and regional growth of key players within the market on a regional basis.
The study entails a critical analysis of CNC machine market on the basis of segmentation. The segmentation included type, end use application, and geographical domain. We also have forecasted current market situation as well as pragmatic trends for analysis of CNC machine market from 2021 to 2028. The regional segment includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some key market players operating in the global CNC machine market are Amera Seiki, Fanuc Corporation, Datron AG, DMG Mori, Dalian Machine Tool Group (DMTG) Corporation, Haas Automation, Inc., Okuma Corporation, Shenyang Machine Tool Co., Ltd. (SMTCL), Hurco Companies, Inc., and Yamazaki Mazak Corporation, among others.
This report segments the global CNC machine market into:
Global CNC Machine Market: Type Segment Analysis
Global CNC Machine Market: Application Segment Analysis
Global CNC Machine Market: Regional Segment Analysis
Computer numerical control (CNC) is the automated control of numerous machines, tools, equipment, and 3D printers via computer device implementation. CNC machines have earned unmatched importance due to their cutting-edge benefits, such as precision, timely performance delivery, and significant cost saving. In modern CNC systems, execution of both design and manufacturing of machine components on any other mechanical part is fully automatic.
The global CNC machine market is likely to register notable growth in the future, owing to several cutting-edge benefits of CNG machines over conventional machinery. The increasing demand for mass production plants is the major growth driver of the global CNC machine market. Thus, to meet this unprecedented market demand, advanced software like CAD and CAM were designed and are used by various CNC manufacturers. Improved precision is the second advantage of using CNC machines. Furthermore, CNC machines curtail time lag between design and production. Thus, it enables manufacturers to supply products within a stipulated timeframe. Saving significant labor costs is a competitive advantage that CNC users gain over their competitors, which also invites an auxiliary advantage of preserved quality due to reduced human intervention. However, significant capital investments and the lack of a skilled workforce to monitor CNC machines may limit the CNC machine market growth. Micro-drilling, dispensing, and rapid prototyping have formidable potential to help CNC machine market grow with numerous growth opportunities in the future.
The global CNC machine market is mainly fragmented based on type and application. By type, the CNC machine market is categorized into CNC lathe, CNC milling, CNC grinding machine, CNC welding, and CNC winding. CNC lathes are the most sought CNC machines, as they are multi-purpose in nature and are used in a wide range of applications.
By application, the CNC machine market includes machinery manufacturing, automobiles, electronics, healthcare, and aerospace and defense. The machinery manufacturing segment is dominating the CNC machine market in the present scenario. Additionally, research has found that the automobile sector will register the highest growth rate over the forecast time period.
The Asia Pacific CNC machine market is the fastest growing market, owing to the emerging economies of India and China that are experiencing rapid industrialization and automation. China, Japan, and India are expected to dominate this regional market, due to the presence of large industries and manufacturing sectors. Additionally, most of the key CNC manufacturers are located in the Asia Pacific region, particularly in China, which has also resulted in the exceptional growth of this regional market.
Some key market players operating in the global CNC machine market are Mondragon Corporation, GSK CNC Equipment, Soft Servo Systems, Heidenhain, Bosch Rexroth, Siemens, Sandvik, Haas Automation, Mitsubishi Electric Corporation, and FANUC Corporation.
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