Global computer numerical control machine market is anticipated to reach over 94.5 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the report, the growing trend of production process automation across myriad industries such as mining, automotive, oil & gas, healthcare, and construction is anticipated to add momentum to computer numerical control machine market demand. Other key drivers mentioned in the report are greater precision, high accuracy, decreased human errors, and burgeoned safety. The rising demand for bulk manufacturing would further escalate industry growth during the estimated period. However, it is found that high investment costs may hinder market growth during the forecast timeline. Increasing demand from developing economies and technological enhancements are factors anticipated to bring about innumerable market growth opportunities over the impending years.
Some of the key findings of the report are listed below:
- Based on the type of machine, the lathe machine segment held the biggest revenue share of the global market, in the year 2017.
- In terms of regional hierarchy, Asia-Pacific is anticipated to be the biggest global contributor to the market revenue over the forecast period.
These machines are used for automating production processes to manufacture massive quantities of products across a range of applications including aerospace, automotive, healthcare, defense, and electronics among others. The report cites that the demand for energy efficient CNC machine has increased exponentially over the years. Use of energy efficient machines helps in energy conservation and cost reduction while producing superior quality products. Therefore, the introduction of energy efficient computer numerical control machines by key market players would provide numerous growth opportunities in the industry.
Speaking of regional penetration, the Asia-Pacific market amassed the highest proceeds in the year 2017, and is anticipated to lead the global market during the projected timeframe. The existence of evolving industries like automotive, healthcare, construction, and agriculture, momentous investment in R&D, and the escalating need for automation propels the industry growth. Fast-paced industrialization and development of the manufacturing industry would further amplify the market growth in the region, cites the report.
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The computer numerical control machine market has been bifurcated based on the type of machine into lathe machine, welding and winding machine, milling machine, grinding machine, and others. The report cites that the lathe machine market segment amassed the biggest market share in the year 2017. The rising accessibility of multi-axis machine alternates, high accuracy, and ease of operation surge the deployment of lathe machines. These machines are increasingly used in an array of industries including manufacturing, automobile, construction, mining, and others.
The key players operating in the computer numerical control machine business space include Fanuc Corporation, Siemens AG, Mitsubishi Electric Corporation, Amada Machine Tools Co., Ltd., Bosch Rexroth AG, GSK CNC Equipment Co. LTD, Haas Automation, Inc., Heidenhain GmbH, Yamazaki Mazak Corporation, DMG Mori Co., Ltd., Sandvik AB, and Soft Servo Systems, Inc. These players introduce novel products and join forces with other renowned players to create cutting-edge products that meet surging customer needs in a better way.