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Industry Insights, Market Size, CAGR, High-Level Analysis: Computer Numerical Control Machines MarketThe global computer numerical control machines market size was valued at USD 67.19 billion in 2019 and is expected to expand at a CAGR of 7.3% from 2020 to 2027. The increasing advancements in production technology have led to a reduction in the time required for manufacturing components along with ability to produce components with better surface finish. The market is driven by emerging needs for smaller factory footprints, owing to lack of availability of space. The modern machine variants are compact and do not require any operator or supervisor to constantly monitor the machine operations. This minimizes the need for manual labor in turn saving the costs for the company. Manufacturers are increasingly focusing on current technological trends in the field of computer numerical control (CNC) software to enhance the connectivity of machines with operators and improve flexibility on shop floor area. The evolution of Internet of Things (IoT) and machine learning technology has resulted in the introduction of new features, such as an application that notifies the status of a machine to the operators/supervisors on their smartphones or PCs. Additionally, these technologies used in CNC machines reduce the time required for manufacturing the workpieces and limits the chances of errors. Hence, manufacturers choose CNC machines over the traditional machines. Various government initiatives such as, the Make in India initiative by the Indian government, and Made in China 2025 initiative by Chinese government, support the establishment of manufacturing units in their respective nations. Manufacturers are introducing new variants that perform multiple operations such as drilling, cutting, turning, facing, and grinding. These features are increasing flexibility for attendants and reducing the need for manpower at shop floor. The new machine models are compact and require lesser floor space as compared to the conventional machinery. However, reducing the costs associated with maintenance of these machines is the key challenge for the manufacturers. Computer numerical control machines are used in automotive, aerospace and defense, power and energy, construction equipment, industrial, and several other large-scale manufacturing plants. The increasing expenses of employing operators for individual machinery are expected to further fuel the demand for automated CNC machines over the forecast period. Technological advancements have resulted in development of software and applications that allow managers to track the activities carried out on the shop floor by the operators. These features enable proactive decision making by the managers and improves productivity of the unit. However, the costs associated with purchasing and installation of the products, acting as a challenge to the market adoption. Furthermore, in order to operate the CNC machines, proper training, and skills are required by the machinist to perform the desired tasks. To maintain the surface finish and accuracy of the workpieces, manufacturers need to sign up for regular maintenance plans. In case of unforeseen breakdowns, the manufacturers need to spend significantly higher amount than planned maintenance programs. These factors are expected to hinder the market growth to a great extent.
Type Insights of Computer Numerical Control Machines MarketThe CNC lathe machines segment dominated the computer numerical control machines market in 2019 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to increasing availability of multi-axis machine variants. The recent variants include5-axis and 6-axis lathes that perform operations from both ends and can be used for producing fine cuts and providing a better finish. Benefits such as ease of operation and their myriad applications are resulting in their increased adoption across the globe. The milling machines segment is expected to grow rapidly over the forecast period owing to the reduced operational costs. Growing demand for advanced machining tools to simply complex processes is expected to drive the segment growth. The laser machine segment is expected to gain traction over the forecast period as a result of improved speed of machining and reduced requirement of workforce. Furthermore, increasing demand for automating metal cutting process and growing adoption of digitalization in manufacturing processes to develop products and components with complex geometry.
End-se InsightsThe increasing demand from the automotive, industrial, and power and energy sectors is anticipated to fuel the CNC machines market growth. The increase in demand for mass production of workpieces, from the automobile manufacturers, at minimal time and expenses is expected to accelerate the demand. Also, key manufacturers offer computer numerical control machines, used for high volume production. For instance, Hurco Companies, Inc. offers VT series, a high-speed drill and tap machine for high volume production applications, such as electronics components or automotive parts. The complex machinery used in the power and energy and aerospace and defense sectors include components that require higher levels of precision and good quality of surface finish. Many companies are increasingly adopting CNC technology for obtaining the desired results, achieving higher levels of accuracy, and reducing costs involved in wastage of material. Furthermore, the automotive industry is adopting technologies such as IoT, Artificial Intelligence (AI), Machine Learning (ML), and robotics, among others, which will serve the increasing demands of the end users. The design of new milling tools that offer improved pliability and ability to perform multiple operations with the same tool has helped end-use companies reduce their floor space requirements and complete the work with less manpower on the shop floor.
Regional Insights of Computer Numerical Control Machines MarketAsia Pacific dominated the CNC machines market in 2019. This dominance can be attributed to the increased adoption of CNC machines in countries, such as India, China, and Japan. Major manufacturers, such as Okuma Corporation, Yamazaki Mazak Corporation, and DMG Mori Co., Ltd. are based in these countries. Thus, Asia Pacific is also expected to emerge as the fastest-growing region over the next eight years. The growth can also be attributed to the increasing government initiatives and organization of trade shows to spread awareness of latest technologies in manufacturing industries. For instance, the Smart Manufacturing Asia conference was arranged in April 2017 at Singapore to discuss benefits of digitization and automation. Europe is expected to grow considerably over the forecast period. The presence of vast base of automotive companies, is expected to drive the regional market growth. Furthermore, presence of high-end machine manufacturers and latest technology developers, such as Datron AG, Dr. Johannes Heidenahain GmbH, and Sandvik AB, is expected to propel the growth in the forthcoming years.
Market Share Insights of Computer Numerical Control Machines MarketThe machine tools industry is fragmented and numerous players hold significant position in the global market share. The key players include Amada Co., Ltd.; Amera Seiki; Fanuc Corporation; Datron AG; DMG Mori; Dalian Machine Tool Group (DMTG) Corporation; Haas Automation, Inc.; Okuma Corporation; Shenyang Machine Tool Co., Ltd. (SMTCL); Hurco Companies, Inc.; and Yamazaki Mazak Corporation. Several market players are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for technologies and new product development. For instance, in 2016, Fanuc Corporation collaborated with Cisco (a player in digitization market), Rockwell Automation (a player in industrial automation market), and Preferred Networks (a player in Artificial Intelligence solutions market) for the development and deployment of the FIELD system. Furthermore, the key companies are investing in R&D activities to improve the machine design in such a way that it allows multiple operations to be carried out by the same machine thereby improving the productivity of the plant. For instance, in 2018, Hurco Companies, Inc. invested USD 4.7 million in R&D program for significant product improvement and new product development. The FIELD system platform connected CNCs, robots, and peripheral devices and sensors to provide analytics for optimization of manufacturing processes. Such initiatives are anticipated to drive the market growth over the next eight years.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Computer Numerical Control Machines Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global computer numerical control machines market report based on types, end use, and region:
Type Outlook (Revenue, USD Billion, 2019 - 2030)
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
End-use Outlook (Revenue, USD Billion, 2019 - 2030)
- Aerospace & Defense
- Construction Equipment
- Power & Energy
Table of Contents Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 List of Data SourcesChapter 2 Executive Summary 2.1 CNC Machines Market- Industry Snapshot & Key Buying Criteria, 2016 - 2027 2.2 Global CNC Machines Market, 2016 - 2027 2.2.1 Global CNC machines market, by region, 2016 - 2027 2.2.2 Global CNC machines market, by type, 2016 - 2027 2.2.3 Global CNC machines market, by end use, 2016 - 2027Chapter | read more...