Global Computer Numerical Controls (CNC) Market Report, published by Variant Market Research, forecast that the global market was valued at $51 billion in 2016 and is expected to reach $87 billion by 2024; growing at a CAGR of 6.9% from 2016 to 2024. In geographical segments, North America and Europe are expected to grow at a CAGR of 7.6% and 7.1%, respectively, during the forecast period 2016-2024.
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The key factor driving the global computer numerical controls market is rising demand for automated manufacturing in the industrial sector. Also, increasing demand in mass production plants in numerous sectors, such as electronics, defense & intelligence, and automobile machinery resulted in the mounting uptake of CNC market. However, high maintenance cost and after sales service of CNC machineries may act as restraining factor for the market. Moreover, reduced cost of entire production process and growing number of applications areas is expected to generate various growth opportunities for the market in the forecast period.
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Type and applications are the primary classifications of the global computer numerical controls market. By type, the global CNC market is further categorized into lathe machines, milling machines, welding machines, lasers, winding machines, grinding units and others. Among which in the year 2016, largest market share accounting for 19.2% was dominated by lathe machines, trailed by welding machine holding 15.6%. Besides, the market is segmented by application is defense & aerospace, automotive, industrial, power & energy and others. The sub-segment automotive is projected to grow at a fastest CAGR during the forecast period 2016 - 2024, driven by the need for automotive parts in huge quantity coupled with accuracy and precision.
North America, Europe, Asia-Pacific and Rest of the World (Row) are the major geographical segments of the global CNC market. In 2016, the largest market share of 35% was occupied by Asia-Pacific, driven by growing industrialization and rising ethics of living particularly in China and Japan. Whereas with respect to CAGR, North America is predicted to dominate the market during the forecast period, driven by rising investments on automations and necessity for high resolution devices to reduce human errors.
The key players in the CNC market include Siemens AG, Mitsubishi Electric Corp., Haas Automation, Bosch Rexroth AG, Dr. Johannes Heidenhain GmbH, Fagor Automation, GSK CNC EQUIPMENT Co. Ltd., Fanuc Corporation, Sieb & Meyer AG, Soft Servo Systems, and among others.
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Scope of Computer Numerical Controls Market
Type Segments
• Milling Machines
• Lathe Machines
• Grinding Units
• Lasers
• Winding Machines
• Welding Machines
• Others
Application Segments
• Industrial
• Automotive
• Defense & Aerospace
• Power & Energy
• Others
Geography Segments
• North America
o US
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Others
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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