Global Computer numerical control (CNC) market (2017-2024)- Research Nester

Computer numerical control or CNC is a machine which is comprised by a mini computer that acts as control unit of that machine. In CNC machine, data is directly fed into the mini computer and all the instructions are given by keyboard.

Market size and forecast

Computer numerical control (CNC) market is expected to expand at a CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the CNC machinery market stood at USD 52 Billion in 2015 and is further expected to be USD 92 Billion by the end of 2024. The demand for the CNC machines are hiked due to the fact that they are time efficient and refrain by human errors. Rising disposable income in emerging economics and need for mass production in various sectors are the key factors for the growth of CNC market. The use of CNC machine helps the operator to make the changes effectively without wasting time or waste of the resource. CNC can be equipped by lathe machine, grinding machine, welding machine, milling machine and others. In 2015, lathe machine tools accounted for the highest revenue by machine type in the global CNC market.

Market Segmentation

Our in-depth analysis segmented the CNC machinery market in the following segments:
By Machine
• Lathe
• Mills
• Grinders
• Drills
• Plasma cuter
• Electric discharge machining
• Welding
• Winding machines
• Shaping machines
By Industries
• Automobile
• Aerospace
• Defense
• Electronics
• Health care
• Metal and mining
• Embroidery

Growth Drivers and Challenges

Increase in the use of improvised techniques such as Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM), enhanced capabilities of manufacturers to offer high precision parts and components, and increase in use of CNC machines in various applications owing to their reduction in costs, mass production of products, and high performance drive the growth of the CNC market. With the help of CNC Machine shaping of complex diagonal cuts and curves is possible with high accuracy and quality. It reduces the time between design and production efficiently. It brings high accuracy and speed, which is not easily attainable by labors. Increase in demand of mass production for various applications including electronic part manufacturing, automobile part manufacturing, machining graphite have strengthen the adoption of CNC machining. Innovative developments in technologies and machine tool equipment along with increase in number of application areas such as micro drilling, dispensing, and rapid prototyping are expected to provide numerous opportunities for the growth and development of the CNC market.

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The challenge limiting the widespread adoption of the Computer Numerical controls is high installation and maintenance cost. These machines also require expensive tools for operation and they also require a well- trained operator. These machines also require high machining software language which hinders the market growth.

Key Players

The key players of CNC Machinery market are as follows:
• MONDRAGON Corporation (Fagor Automation)
• FANUC Corporation
• Heidenhain GmbH
• Bosch Rexroth AG
• Sandvik AB
• Mitsubishi Electric Corporation
• GSK CNC Equipment
• Hass Automation
• Siemens AG
• Soft Servo Systems
Scope and Context
Overview of the Parent Market
Analyst View

Segmentation

The Global CNC Machinery market is segmented as follows:
• By Machine Market Size & Y-O-Y Growth Analysis
• By Industries Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment

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