CNC Machine Tools Market (By Product: Milling Machines, Drilling Machines, Grinding Machines, Electrical Discharge Machines; By Industry: Automotive and Transportation, Sheet Metals, Capital Goods, Energy, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global CNC machine tools market is expected to grow at a CAGR of around 4.9% during the forecast period 2019 to 2026 and expected to reach the market value of around US$ 134.4 Bn by 2026.
Computer numerical control (CNC) is the automated control of various machines, tools, equipment, and 3D printers via computer device implementation. In modern CNC systems, execution of both design and manufacturing of machine components on any other mechanical part is totally automatic. CNC machines have attained unmatched importance due to their cutting-edge advantages, like precision, timely performance delivery, and significant cost saving. The increasing demand for mass production plants is the major growth driver of the global CNC machine market. Thus, to meet this unprecedented market demand, advanced software like CAD and CAM were designed and are used by various CNC manufacturers.
Market Dynamics
Increasing demand for high efficiency in complex machining products is expected to drive the CNC market. Rise in demand for low operating cost and high precision, along with technological advancement in production processes, is further resulting in the popularity of CNC machine tools. Furthermore, the rise in production across industries as well as electronics and automotive sectors is contributing positively to the CNC machine tools market growth. An upsurge in demand for mass customization is leading to the popularity of CNC machine tools. CNC programmable machine tools provide quick and efficient production of various products in one batch. Increasing demand error reduction through the adoption of CNC machine tools market trends. CNC has various advantages over conventional machines. the various advantages of CNC machines, including high accuracy, safety, time efficiency, flexibility, and low maintenance, is further expected to drive the CNC machine tools market demand. Thus, they readily applicable where machining is complex in non- conventional machining industries as well as metal removal and metal fabrication sectors. Furthermore, reduction in labor cost, high versatility, and realibility is further expected to result in the growth of this market over the forecast period. A rise in additive manufacturing is driving the CNC machine tools market. Manufacturer shift towards cost- effective and rapid production process is leading to increased adoption of additive manufacturing. furthermore, the increase in popularity of heterogeneous material manufacturing capability is further expected to result in the expansion of the market. Besides the application of 3D printing in consumer electronics, medical and automotive sector is resulting in the growth of the additive manufacturing market. Reduction in production time is further resulting in additive manufacturing popularity among customers.
By product, the milling machine segment is expected to dominate the machine market
On the basis of product, the market has been segmented into milling machine, drilling machine, grinding machine, and electrical discharge machine. The milling machine segment holds the major market share of the machine tool market and is expected to grow more in the future because of the increasing demand from the manufacturing companies for productivity improvements and product innovation.
Based on industry, the automotive and transportation is expected to dominate during the forecast period
Primary industry users like automotive, aerospace and defense, railways, capital goods, and consumer durable sectors have a high demand for machine tools. The automotive industry is adopting the integration of technologies like AI, IOT, robotics, etc., which will serve the demands of the end users. Major efforts are made to upgrade engine technologies to meet the fuel efficiency mandates and NCAP rating globally. This will further add to the re-tooling of the existing machining solutions. The growth in different vehicle segments across the globe is expected to drive the demand for machine tools.
The market research study on “Global CNC Machine Tools Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global CNC Machine Tools market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global CNC machine tools market, its product, industry, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global CNC machine tools market size and volume, and segment markets by product, industry, and geography along with the information on companies operating in the market. The global CNC machine tools market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, Asia- Pacific dominated the regional market with a maximum market share
Asia- Pacific accounted for the high market share of the global CNC machine tools market and the region is also expected to maintain its dominance over the forecast period.Some major factors contributing to this growth are,due to the increase in the variety of metal cutting process industries across the region. The region is home for many of the leading machine makers and is anticipated to dominate the market. China is one of the major consumers of machine tools and is driving the market in Asia Pacific. There has been substantial growth and investment in the automotive industry, oil and gas, and railways in the Asia Pacific region.
The key companies involved in the market includes 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.
Market Segmentation
Market By Product
- Milling Machines
- Drilling Machines
- Grinding Machines
- Electrical Discharge Machines
Market By Industry
- Automotive and Transportation
- Sheet Metals
- Capital Goods
- Energy
- Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
What is computer numerical control?
Computer numerical control is the automated control of various machines, tools, equipment, and 3D printers via computer device implementation.
What is the growth factor of CNC machine market?
The increasing demand for mass production plants is the major growth driver of the global CNC machine market.
What is the main driver of CNC machine tools market?
Increasing demand for high efficiency in complex machining products is main driver of the CNC machine tools market.
What will be the market value of CNC machine tools in the forecast period 2019 to 2026?
According to Acumen Research and Consulting, the CNC machine tools market value is anticipated to be worth around US$ 134.4 billion in 2026.
What will be the growth rate of CNC machine tools market during the forecast period 2019 to 2026?
The CNC machine tools market is anticipated to grow over 4.9% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share of the CNC machine tools market?
Asia- Pacific held maximum share in 2018 for CNC machine tools market.
Which are the top key players operating in the CNC machine tools market?
Amada Co. Ltd., Amera Seiki, Fanuc Corporation, Datron AG, DMG Mori, Dalian Machine Tool Group (DMTG) Corporation, and Haas Automation Inc. are the top players operating in the CNC machine tools market.
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