DUBLIN--(BUSINESS WIRE)--The "Computer Numerical Control Market by Machine Tool Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to this report the global computer numerical control market size was valued at $14.5 billion in 2018, and is projected to reach $22.90 billion by 2026, growing at a CAGR of 5.9% from 2019 to 2026.
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. For instance, CNC provides increased productivity and enhanced precision & accuracy pertaining to machining performance. Software languages such as computer-aided design (CAD), computer-aided manufacturing (CAM), and vector majorly control the operations of CNC machines. These software programs enable the CNC machine to be operated in mass production industries with precision and accuracy.
Increased productivity, time effectiveness, and precision & accuracy provided across metal working industries such as automobile and manufacturing industries drive the growth of the global computer numerical control market. In addition, favorable government initiatives such as Make in India and Made in China 2025 in Asian region is fueling the growth of this market. However, high cost of CNC machines and need of highly skilled professionals to deal with the software interface are expected to hinder the growth of the market.
The global computer numerical control market is segmented into machine tool type, industry vertical, and region. By machine tool type, the market is categorized into lathe, mills, routers, grinders, and others (plasma cutters, drill press, electric discharge machining, welding, and winding machines). On the basis of industry vertical, it is segregated into aerospace & defense, automobile, consumer electronics, healthcare, industrial machinery, and others (metal & mining and transportation). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The companies profiled in the 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.
Key Benefits
- The study provides an in-depth analysis of the global computer numerical control market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analyses on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global computer numerical control market from 2018 to 2026 is provided to determine the market potential.
Key Findings
- Depending on machine tool type, the lathes segment led the CNC market, in terms of revenue in 2018.
- On the basis of industry vertical, the automobile segment is anticipated to exhibit substantial growth during the forecast period.
- Region wise, Asia-Pacific generated the highest revenue in 2018; and is expected to continue this trend during the forecast period.
Market Dynamics
Drivers
- Increase in Demand in Mass Production Plants
- Increase in Need for Precision and Time Effectiveness
- The Presence of Favorable Government Initiatives, Especially in Asian Region
Restraints
- High Cost of CNC Machines
- Implementation of Stringent Government Regulations
Opportunity
-
Increase in Application Areas
Companies Mentioned
- 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
-
Soft Servo Systems Inc
For more information about this report visit https://www.researchandmarkets.com/r/a5o5gb
