The new report by Expert Market Research titled, ‘Global Computer Numerical Control Machines Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global computer numerical control machines market, assessing the market based on its segments like machine types, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 68.4 Billion
- Forecast CAGR (2021-2026): 7%
- Forecast Market Size (2026): USD 100 Billion
The increasing need for hassle-free automation and time and cost-saving opportunities by the consumers is driving the computer numerical control machines market. Increase in demand in mass production plants also propels the market growth. They are increasingly deployed in mass production plants, owing to their ability to manufacture high precision parts and components. Growth in need for precision and time effectiveness also aids the market demand owing to surge in need for intricate solid parts manufactured with defined finishing along with operational effectiveness is primarily driving the growth of market. Factors like rapid growth in industrialisation and rapid urbanisation, favourable government initiatives enabling manufacturers to invest in the growing market, rising concerns for cutting operational costs, mitigating human error, technological advancement and early adoption of the technology are also contributing to the market growth.
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Industry Definition and Major Segments
Computer numerical control system is a method for automated control of machine tools used to process, transform, or control machines or tools. It includes drills, lathes and 3D printers, among others. It employs an already embedded software system in a microcomputer affixed to the control system. The functions to be performed on the mechanising instruments are guided by numerical control.
By machine types, the market is divided into:
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
- Others
On the basis of end use, the industry is divided into:
- Aerospace and Defence
- Automobiles
- Electronics
- Healthcare
- Others
The global markets of computer numerical control system can be divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
Due to surge in demand for real time information access, manufacturers are increasing the adoption of internet of things (IoT) in their production process, resulting in improving productivity, safety, innovation, production, and reducing time cost. The rising investment in IoT in the manufacturing sector is also contributing to the market. The introduction of new features, such as an application that notifies the status of a machine to the supervisors on their smartphones. These technologies reduce the time required for manufacturing the workpieces and the chances of errors. Development of software and applications allow managers to track the activities carried out on the shop floor by the operators as a result of technological advancements. These facilities enable proactive decision-making by the managers and help improve the productivity of the unit.
Key Market Players
The major players in the market are HEIDENHAIN Corporation, Soft Servo Systems, Inc., Bosch Rexroth AG, Mitsubishi Electric Corporation, FANUC Corporation, Siemens, and Haas Automation, Inc, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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Computer Numerical Control Machines Market CNC or computer numerical control is a process which is used so that the machine tool can be controlled automatically with the help of the software which is placed in the microcomputer present in the tool.
CNC machines are those in which different program are stored by the programmer in the memory so that the machine can work automatically.
Programmer can change the code as per the need and requirement.
Some of the common CNC machines are drills, plasma cutter, electric discharge machine, welding machine, lathe, mills and others.
These CNC are usually used for the production of plastic parts and machining metals.
CNC machines are used in industries such as automobile, aerospace, electronics, health care and others.Market Drivers:Rising demand for mass production in industrial sector acts as a market driverIncreasing disposable income will also drive the market growthGrowing automation in the manufacturing industry propels the growth of this marketIncreasing concern among industries to reduce operational cost will also accelerate the market growthMarket Restraints:High installation cost of the CNC machines will restrict the growth of this marketComplexity associated with the requirement of high machining software language by machine will also hinder the market growthHigh cost of the operating tools of the machine will also hamper the market growthGet Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-computer-numerical-control-machines-marketSome of the leading key players profiled in this study:Few of the major competitors currently working in the global computer numerical control machines market are Yamazaki Mazak Pvt.
