Global Computer Numerical Controls (CNC)Market is Estimated to Reach $87 Billion by 2025, Says Accurize Market Research
Global Computer Numerical Controls (CNC) Market report published by Accurize Market Research forecast that the global market is expected to reach $87 billion by 2024; growing at a CAGR of 6.8% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increased government spending on military to drive the market
The global computer numerical controls market is majorly driven by increasing disposable income in emerging economies and high need for mass production. Rising number of small manufacturing units with need for automated machines and lack of labors also fuels the growth of the market. However, non-availability of skilled programmers and high maintenance cost of machines may hamper the growth of the CNC market. Furthermore, rising R&D on new applications and technological advancements would provide market opportunities in the forecast period.
Market Segmentation
The global CNC market has been bifurcated into type and applications. By type, the global computer numerical controls market is further segmented into milling machines, lathe machines, lasers, welding machines, grinding units, winding machines and others. By application, the market is segmented as industrial, automotive, defense & aerospace, power & energy and others.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Lathe machines jacketed accounted for the largest market share in the type segment", says Accurize
Lathe machines accounted for the largest market share accounting for 19.2%, followed by welding machine holding 15.6% in 2017. Automotive is expected to grow at a highest CAGR during 2017 - 2025, owing to the need for automotive parts in bulk quantity along with precision and accuracy.
"Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia Pacific accounted for the largest market share of 35%, owing to the rising industrialization and rising standards of living especially in China and Japan. North America is expected to dominate the market growing at the fastest CAGR during the forecast period, owing to the increasing investments on automations and need for high resolution devices to reduce human errors.
Top players in the market
The key market players 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.
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