Global Computer Numerical Controls Market is estimated to reach $87 billion by 2024; growing at a CAGR of 6.9% between 2016 and 2024. Computer numerical controls (CNC) is a process in the manufacturing sector in which the functions of the machines and its related tools are controlled by a program comprising of a coded alphanumeric data. A CNC system basically consists of three components such as part program, machine control unit (MCU) and machine tools. CNC can be used to control both the machine tools as well as the non-machine areas. The computer programs are customized according to the object and the related machines are programed with the CNC language that principally controls all the features such as the speed, location, feed rate and coordination. CNC helps to reduce human error, high accuracy in manufacturing, reduces production time and higher manufacturing flexibility.
Rising disposable income in emerging economies and need for mass production of various items are the key factors supporting the growth of the global computer numerical controls market. Moreover, increase in the number of small manufacturing units with automated machines to reduce human errors and non-availability of labors also support the growth of the global CNC market. Furthermore, technological advancements and increasing number of applications would provide growth opportunity in the coming years. However, high maintenance cost of machines and lack of skilled programmers may hinder the growth of the market.
The global computer numerical controls market is categorized on the basis of type, application and geography. By type, the market is segmented into milling machines, lathe machines, lasers, welding machines, grinding units, winding machines and others. Furthermore, by applications, it is segmented into industrial, automotive, defense & aerospace, power & energy and others.
Geographically, global CNC market has been bifurcated into North America, Europe, Asia-Pacific and Rest of the World. The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, France, Italy and others. Asia-Pacific covers China, Japan, India, South Korea and others. RoW covers South America, Middle East and Africa.
The key players in the computer numerical controls market include Haas Automation, Siemens AG, Mitsubishi Electric Corp., Dr. Johannes Heidenhain GmbH, Bosch Rexroth AG, Fagor Automation, Fanuc Corporation, GSK CNC EQUIPMENT Co. Ltd., Soft Servo Systems and Sieb & Meyer AG, among others.
The key takeaways from the report
- The report will provide detailed analysis of Computer Numerical Controls Market with respect to major segments such as type and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Computer Numerical Controls Market has been provided in the report
- Profile of the key players of the Computer Numerical Controls Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Computer Numerical Controls Market
- Milling Machines
- Lathe Machines
- Grinding Units
- Winding Machines
- Welding Machines
- Defense & Aerospace
- Power & Energy
- North America
- South Korea
- South America
- Middle East