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.
Geographically,
the global market for computer numerical control is led by Asia-Pacific, with
the region accounting for a share of approximately 35% in 2015. Developing
economies such as China and India have been witnessing robust growth in terms
of industrialization, thereby driving the growth of regional market. The CNC
market in the European region is projected to grow at a significant rate,
during the forecast period owing to the rise in adoption of technology.
Increased efficiency, time effectiveness, and precision & accuracy provided
across metal working industries such as automobile and manufacturing industries
is expected to drive the 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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