The Computer Numerical Control Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company's insightful analysis in the Computer Numerical Control (CNC) Global Market Report 2024, the robust trajectory of the CNC market is unmistakably evident. The market is poised to ascend from $16.27 billion in 2024 to an estimated $17.27 billion by the same year, manifesting a commendable compound annual growth rate (CAGR) of 6.1%. This growth is intricately linked to pivotal factors such as the paradigm shift towards manufacturing automation, nuanced advancements in precision manufacturing, the orchestration of complex component production, streamlined reduction in production time, burgeoning customization demands, and astute cost savings strategies in mass production.
Projections for the immediate future indicate a steadfast trajectory for the CNC market, poised to burgeon to a staggering $22.55 billion by 2028, witnessing an impressive CAGR of 6.9%. This anticipated growth is underpinned by a confluence of factors, including seamless integration with diverse industries, the ascension of additive manufacturing methodologies, a burgeoning footprint in small and medium enterprises (SMEs), a resolute focus on sustainability initiatives, the fortification of software capabilities, and an escalating demand within the realms of healthcare and biotechnology.
Within the purview of evolving trends in the forecast period, discernible themes include a pervasive shift towards energy-efficient solutions, a marked emphasis on miniaturization and micro-machining techniques, the assimilation of Internet of Things (IoT) into CNC operations, bespoke customization solutions tailored for small-batch production, and a conspicuous industry-wide shift towards open-source CNC systems.
As market dynamics continue to evolve, prominent entities within the CNC domain are strategically engineering novel machines endowed with unprecedented precision, featuring up to one nanometre axis resolution. This strategic maneuvering serves as a linchpin for gaining a competitive edge within the market landscape. Axis resolution, indicative of the smallest incremental movement or measurement along an axis, is a critical facet in mechanical or electronic systems
The increasing demand for electric vehicles is expected to propel the demand for the computer numerical control market going forward. An electric vehicle (EV) is a vehicle that runs on an electric motor using electricity rather than an internal-combustion engine and generates power by burning a mixture of gasoline and gases. Computer numerical control technology is required for the automated and bulk manufacture of electric vehicles minimizing costs for producers. For instance, in May 2022, according to the Global Electric Vehicle Outlook report by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the sales of electric cars increased by two times in 2021 to 6.6 million. In addition, the sales grew in 2022 with 2 million electric cars sold globally in the first quarter. Thus, the increasing demand for electric vehicles will drive the computer numerical control market.
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The computer numerical control market covered in this report is segmented –
1) By Type: Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, Other Types
2) By Product Type: Software, Solutions
3) By End Use Industry: Aerospace And Defense, Automobile, Electronics, Healthcare, Other End Use Industries
A notable case in point is ANCA CNC Machines, an Australia-based machinery manufacturing juggernaut, which, in December 2022, unveiled the MX7 ULTRA—an avant-garde machine meticulously designed for manufacturing cutting tools with unparalleled accuracy and quality.
Distinguished by nanometre axis resolution, the MX7 ULTRA boasts less than +/- 0.002mm line form accuracy for various profiles, including ballnose and corner radius endmills. This cutting-edge machine, armed with innovative software, hardware, and design features, engenders substantial enhancements in surface finish, accuracy, and controlled runout. Noteworthy attributes include in-process measuring, dynamic balancing, runout compensation, and the integration of Motor Temperature Control (MTC) for thermal expansion compensation—culminating in a seamless journey from the first ground tool to the thousandth, ensuring batch consistency par excellence. This groundbreaking development exemplifies the inexorable march of the CNC market towards unprecedented precision, efficiency, and technological sophistication.
The computer numerical control market report table of contents includes:
1. Executive Summary
2. Computer Numerical Control Market Characteristics
3. Computer Numerical Control Market Trends And Strategies
4. Computer Numerical Control Market - Macro Economic Scenario
5. Global Computer Numerical Control Market Size and Growth
......
31. Global Computer Numerical Control Market Competitive Benchmarking
32. Global Computer Numerical Control Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Computer Numerical Control Market
34. Computer Numerical Control Market Future Outlook and Potential Analysis
35. Appendix
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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 sample report shall be delivered to you within 24 hours.Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/computer-numerical-control-machines-market/requestsampleThe key highlights of the report include:Market Overview (2016-2026)Historical Market Size (2020): USD 68.4 BillionForecast CAGR (2021-2026): 7%Forecast Market Size (2026): USD 100 BillionThe increasing need for hassle-free automation and time and cost-saving opportunities by the consumers is driving the computer numerical control machines market.
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.Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/computer-numerical-control-machines-marketIndustry Definition and Major SegmentsComputer numerical control system is a method for automated control of machine tools used to process, transform, or control machines or tools.
The functions to be performed on the mechanising instruments are guided by numerical control.By machine types, the market is divided into:Lathe MachinesMilling MachinesLaser MachinesGrinding MachinesWelding MachinesWinding MachinesOthersOn the basis of end use, the industry is divided into:Aerospace and DefenceAutomobilesElectronicsHealthcareOthersThe global markets of computer numerical control system can be divided into:North AmericaEuropeAsia PacificLatin AmericaThe Middle East and AfricaMarket TrendsDue 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.
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.
Computer Numerical Control (CNC) Market published by Research Report Insights (RRI), forecasts that the global market is expected to garner $93450 Million by 2024, registering a CAGR of 6.2% during the period 2016 - 2024.The industrial machinery sector is expected to dominate the global CNC market during the assessment period. Europe is expected to be the leading contributor to the global revenue during the forecast period.
Report For Sample with Table of Contents@ https://www.researchreportinsights.com/report/sample/110114912/Computer-Numerical-Controls-Market
Evolution of Internet of Things (IoT) and machine learning technology has led to development of applications that notify the status of a machine to operators/supervisors on their PCs or smartphones. Various government initiatives, for instance, ‘Make in India’ by the Indian government and ‘Made in China 2025’ by the Chinese government, support the establishment of manufacturing units in their respective nations.
Automation Boosts Market’s Growth
Rising concerns about reducing operational costs are being witnessed in several industrial sectors, consequently demanding large-scale automation. Such demands for automating various industrial processes is primarily driving the global computer numerical controls (CNC) market. This mainly because of reduction in overall manufacturing time and decreasing chances or human error to occur by using the CNC machines, consequently making them highly preferred.
Rising environmental concerns regarding reduction of industrial carbon footprint has led towards computer numerical controllers being increasingly used in place of manually operating machines. Doing this has resulted into improved efficiency being achieved by businesses working in the industrial domain, thereby being beneficial to the global computer controls (CNC) market.
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CNC machines are used in automotive, aerospace and defense, power and energy, construction equipment, industrial, and several other sectors. Increasing efforts to cut down on expenses incurred in employing operators for individual machinery are expected to augment the CNC machines market over the forecast period.
Major Key Players
Several market key players are adopting different strategies such as mergers and acquisitions, partnerships, and collaborations for technologies and new product development. For instance, in 2016, Fanuc Corporation collaborated with Cisco (a player in the digitization market), Rockwell Automation (a player in the industrial automation market), and Preferred Networks (a player in the artificial intelligence solutions market) for the development and deployment of the FIELD system.
Report Analysis@ https://www.researchreportinsights.com/report/rd/110114912/Computer-Numerical-Controls-Market
