Computer Numerical Control Market 2026: Top Factors that Are Leading the Industry around the Globe | Sandvik Ab, Soft Servo Systems

According to the report published by Allied Market Research, the global computer numerical control market was estimated at $14.59 billion in 2018 and is expected to hit $22.90 billion by 2026, registering a CAGR of 5.9% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Computer numerical control (CNC) machine is a fully automated solution for metal working tools controlled by computers. This machine serves as a key asset in the machine tools industry, owing to its advantages offered by it across various end-user industry verticals such as automobile and manufacturing.

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The rise in the adoption of automated manufacturing, especially in the industrial and automobile sectors is a key factor expected to boost the growth of the global computer numerical control (CNC) market. Furthermore, the rapid development of manufacturing facilities in the Asia-Pacific region fuels the demand for CNC machines, which significantly contributes toward the growth of the global computer numerical control market.

The increase in demand in mass production plants for various applications including electronic parts manufacturing, machining plastics, engraving steel, thermoforming, and machining graphite has fostered the adoption of CNC. In addition, the increase in production efficiency and better accuracy and precision of equipment in various sectors such as aerospace, automobile, healthcare, electronics, and industrial machinery are expected to drive the market growth.

However, high cost of CNC machines with highly advanced software languages restricts market growth. Innovative developments in technologies and machine tool equipment along with an increase in several application areas such as micro drilling, dispensing, dental, and rapid prototyping are expected to provide numerous opportunities for the growth and development of the CNC market.

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The leading market players analyzed in the computer numerical control market report include Bosch Rexroth AG, Dalian Machine Tool Group Corporation (DMTG), Fagor Automation, FANUC Corporation, HAAS Automation, Inc., Heidenhain Corporation, Hurco Companies, Inc., Mitsubishi Electric Corporation, Okuma Corporation, Sandvik AB, and Soft Servo Systems Inc. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.

By industry vertical, the industry machinery segment accounted for the highest market share in 2018, owing to increase in demand for accurate high-resolution devices and rise in need to reduce machining trajectory that enable error-proof surface finishes in the industrial sector. Moreover, the integration of CNC technology with high-speed CNC hardware highlighting accurate detection and ultra-smooth rotation boosts the growth of this market.

Based on machine tool type, the lathes segment held the major share in 2018, contributing to more than one-third of the global market. The mills segment, on the other hand, is projected to exhibit the fastest CAGR of 7.1% throughout the forecast period.

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Based on industry vertical, the industrial machinery segment accounted for nearly two-fifths of the total market share in 2018, and is anticipated to dominate by 2026. Simultaneously, the automobile segment would showcase the fastest CAGR of 7.9% during the forecast period.

Region-wise, the global computer numerical control industry was dominated by Asia-Pacific in 2018 and is expected to maintain this trend during the forecast period of 2019-2026. The presence of large number of CNC market vendors, continuous adoption of advanced technology for bringing preciseness in manufacturing of various machine parts, and government initiatives encouraging developments in manufacturing sector in the developing countries of Asia such as India, China are some of the factors propelling the computer numerical control market growth in this region.

Impact of Covid-19 on Computer Numerical Control Market:

• The outbreak of COVID-19 led to decreased demand for manufacturing equipment from the industrial and automobile sectors, thereby impacting the global computer numerical control market negatively.

• Simultaneously, the fact that CNC machines give way to automated manufacturing has increased the importance of computer numerical control technology, as it reinforces the idea of involving less workforce at work.

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