Computer Numerical Controls (CNC) Market : Opportunity Analysis and Industry Forecast upto 2024

The growing demand for production efficiency is aiding the uptake of computer numerical controls (CNC) as these machines streamline various operational processes by reducing production time and minimizing human error. The highly competitive environment has compelled players to focus on efficient manufacturing techniques.

They are also trying to gain competitive advantage by redesigning their manufacturing facilities to include CNC machines. The integration of 3D printing with CNC machines is one such addition to some of the new production units, which is expected to offer better product design with little to no resource wastage.

The prominent players operating in the CNC market include Fanuc Corporation, Haas Automation, Dr. Johannes Heidenhain GmbH, OKUMA Corporation, Siemens AG, JTEKT Corporation, GSK CNC Equipment Co. Ltd., DMG Mori Co. Ltd., Takisawa Machine Tool Co. Ltd., and Yamazaki Mazak Corporation.

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Fanuc Corporation, holding a nearly 25% of the market in 2015, has been focusing on new product development as its key business strategy. In 2016, for instance, the company launched the product line FANUC Panel ‘I’, which is integrated with computer numerical controls for granting industries better factory automation facilities and help machine tool builders to create unique functions.

Haas Automation, Inc. showcased its Next Generation CNC with improved user interface and intuitive navigation experience in 2016. These systems have new visual programming systems, which are expected to be more efficient in nature.

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Transparency Market Research estimates that the global computer numerical controls (CNC) market will exhibit a healthy 6.3% CAGR over the period between 2016 and 2024, rising from a valuation of US$52.68 bn in 2015 to US$93.45 bn by 2024.

In terms of types of machines, the segment of lathe machines held the dominant share in the global market in 2015, accounting for over 19.2% of the market in terms of revenue. Geographically, Asia Pacific held the dominant 35% of the overall market in 2015.
Computer numerical controls also allow operators to make changes or improvements to product specification and designs with minimum delay.

This makes for a highly influential criteria for machines used in today’s fiercely competitive environment, which is forcing companies to adopt efficient manufacturing techniques. In their efforts to achieve a competitive advantage by redesigning their manufacturing facilities with smaller footprints in terms of low manufacturing costs and improved coordination of production process, computer numerical controls are playing an expansive and significant role.

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For the study, the market has been segmented as follows:
Global Computer Numerical Controls (CNC) Market, 2016 – 2024: By Type
Lathe Machines
Milling Machines
Lasers
Grinding Units
Welding Machines
Winding Machines
Others

Global Computer Numerical Controls (CNC) Market, 2016 – 2024: By Application
Automotive
Industrial
Power & Energy
Defense & Aerospace
Others

Global Computer Numerical Controls (CNC) Market, 2016 – 2024: By Geography
North America
Europe
Asia Pacific (APAC)
Middle East and Africa
Latin America

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