Jul 10, 2020 12:33 PM ET
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iCrowd Newswire – Jul 10, 2020

The Global Computer Numerical Control (CNC) Market is estimated to grow at a CAGR of 5.9% during the forecast period 2019-2026. As per the detailed market study, the computer numerical control industry is anticipated to reach $22,904.3 million by the end of the year 2026.

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Soft Servo Systems Inc., Sandvik AB, Okuma Corporation, Mitsubishi Electric Corporation, Hurco Companies, Inc., Heidenhain Corporation, HAAS Automation, Inc., FANUC Corporation, Fagor Automation, Dalian Machine Tool Group Corporation (DMTG) and Bosch Rexroth AG are some major key players included in the research study of the global computer numerical control market. The market players are adopting various competitive strategies to withhold the majority of the market share in the global marketplace.

Computer Numerical Control (CNC) is a fully automated solution that is controlled by computers through use of software embedded in a microcomputer for metal working tools. CNC plays a key role in the machine tools industry due to the advantages offered by CNC across various end-use industries such as manufacturing of plastic parts and machining tools and automobile. Such as CNC provides enhanced precision & accuracy and increased productivity related to machining performance.

Software languages such as computer-aided design (CAD), computer-aided manufacturing (CAM), and vector majorly control the operations of CNC machines. These software programs enable the CNC machine to be operated in mass production industries with precision and accuracy.

The Global Computer Numerical Control (CNC) Market is driven by various growth factors such as precision & accuracy, time effectiveness and increased productivity across metal working industries like automobile and manufacturing industries. Also, the government initiatives such as “Made in China 2025” and “Make in India” in the APAC region is boosting the market growth over the long-term. Whereas, demand of highly skilled professionals and high cost of CNC machines may hinder the market growth over the forecast period.

Segmentation Overview of the Global Computer Numerical Control Market

The global computer numerical control industry is categorized on the basis of various market segments that include machine tool type and industry vertical. These major market segments are further categorized into various sub-segments to study the market in detail.

The Machine Tool Type Segment of the Global Computer Numerical Control Market is Sub-Segmented into:

  • Grinders
  • Routers
  • Mills
  • Lathes
  • Others

The Industry Vertical Segment of the Global Computer Numerical Control Market is Sub-Segmented into:

  • Industry Machinery
  • Healthcare
  • Electronics
  • Automobile
  • Aerospace & Defence
  • Others

Geographical Overview of the Global Computer Numerical Control Market

The Europe computer numerical control market is estimated to increase at significant growth rate due to increase in import/export activities and rise in adoption of technology in the European countries. The regional market is dominating the global marketplace and is anticipated to maintain the dominance over the forecast period with major contribution from countries such as Austria, Switzerland, Italy and Germany. On the other hand, the Asia-Pacific computer numerical control market is anticipated to grow at a significant growth rate owing to rise in standard of living in economies such as Japan, China and India, increasing adoption of technological advanced products and increase in process adoption.

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Keywords:    Computer Numerical Control (CNC) Market