Global Computer Numerical Controls Market is projected to be valued $87 Billion by 2024; with a CAGR of 6.8% from 2017 to 2025. Computer numerical control (CNC) is a medium for automating control of machine tools by the use of software embedded in a microcontroller attached to the tool. CNC is designed to provide more precision, complexity and repeatability than is possible with manual machining. A CNC system mainly consists of three basic components such as part program, machine control unit (MCU) and machine tools. Some of the CNC systems are integrated with CAD and computer-aided manufacturing (CAM) software, which can pace up the process of programming the MCU. CNC need more maintenance than other production methods which require skilled CNC programmer.
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.
Major companies operating in the global computer numerical controls market are Siemens AG, Mitsubishi Electric Corp., Haas Automation, Bosch Rexroth AG, Fagor Automation, Fanuc Corporation, Meyer AG, GSK CNC EQUIPMENT Co. Ltd., Soft Servo Systems and Sieb& Dr. Johannes Heidenhain GmbH, among others.
The key takeaways from the report
Scope of Computer Numerical Controls Market