Global Computer Numerical Controls (CNC) Market - Segmented by Type (Lathe Machine, Miller Machine, Welding Machine), Application (Retail, Consumer Electronics, Advertisements, Education), and Region - Growth, Trends, and Forecast (2022 - 2030)

The computer numerical controls market is projected to register a CAGR of 7.1%, during the forecast period (2018 - 2023). The scope includes different types of computer numerical control market, such as lathe machine, welding machine, and various others. The regions considered under the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa.

Growing Demand for Production Efficiency

There is an increasing demand for production efficiency as these computer numerical controls machines streamline many operational processes by reducing production time and minimizing human error. Also, highly competitive market has compelled players to focus on efficient manufacturing techniques and are trying to gain competitive advantage by redesigning their facilities that include CNC machines. Apart from this, integration of 3D printing with CNC machines is one such addition to some new production units, which is expected to offer better multi-material capability with little resource wastage.

Growing Demand for Automated Manufacturing in Industrial Sector

Growing demand for automated manufacturing in the industrial sector has resulted in the increasing uptake of CNC machines. Also, establishment of manufacturing facilities in Asia Pacific has also spurred the usage of computer numerical controls in this sector. On the other hand, automotive sector is set to be the rapidly developing segment in the coming years mainly due to the increasing rate of automated automobile manufacturing. Apart from this, rising concerns over global warming and depleting energy reserves have led to the production of alternative sources of power, such as solar, water, among various others, which are further promoting the market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.

Asia-Pacific to Lead the Market

Developing economies, such as China and India have been witnessing rapid growth in terms of industrialization, thereby driving the market. The automotive sector is expected to grow significantly during the forecast period, owing to the rising demand for automobiles in the region. Also, easy availability of labor and the declining prices of components have resulted in manufacturers shifting their production units in this region which is further promoting the market.

Key Developments in Market

• November 2017 : Siemens AG launched latest version of NX software with next generation tools to enable digitalization of part manufacturing with a single integrated sector

Major Players - FANUC CORPORATION, HAAS AUTOMATION, DR. JOHANNES HEIDENHAIN GMBH, SIEMENS AG, JTEKT CORPORATION, amongst others.

Reasons to Purchase this Report

• To understand the impact of computer numerical controls market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• To understand the dominating technology in the market
• The Region that is expected to witness the fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

• The report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs