The global CNC Machine market in 2019 is approximately USD 67 Billion and is anticipated to reach around USD 110 Billion by 2026. The anticipated CAGR for the CNC Machine market is around 7% from 2020 to 2026.
The global CNC Machine market is set to grow at a significant rate. The rise in demand for the new technological advancements, machinery and automobiles are projected to augment the market in the forecasted period. The evolution of the internet of things (IoT) is expected to create a prominent opportunity for CNC machine manufacturers.
CNC is a computer ordered machining process which brings precision to the machined components and saves time for manufacturing component manually. It increases the overall efficiency and productivity of manufacturing the products. Products are manufactured by providing G-Code and M-codes to the machine along with the axis coordinates.
Constant technological advancements in the machines and machine components are estimated to propel the CNC machine market.Also, the CNC with automatic tool change is projected to have a momentous opportunity in the forecasted time. However, CNC machines are expensive than conventional machines.
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According to type, the market is segmented in the CNC Milling, CNC Lathe, CNC Welding, CNC Winding, and CNC Grinding Machine. It is expected that CNC Lathe is expected to have a major share in the forecasted time owing to complex part design in the forecasted time. The “CNC Lathe” category, is the prominent revenue-generating category owing to a rise in demand for multiaxis variants. It also produces products with a better finish. The “CNC Milling Machine” category is expected to grow rapidly in the forecasted period owing to economical operation cost.
According to an application, it is expected that the machinery manufacturing category is expected to have significant growth in the forecasted period. The rise in demand for the machined products from the Machinery Manufacturing and Automobiles industries is projected to propel the market.
Additionally, according to the regional market is bifurcated in regions like Europe, North America, Asia Pacific, Middle East, and Africa and Latin America. It is projected that the Asia Pacific market is projected to have the largest market share in the forecasted time due to growing manufacturing sectors. The significant growth in the manufacturing sector is expected due to an increase in foreign direct investment in Asia Pacific countries. The FDI is expected to propel in the Asia Pacific region owing to the availability of resources at the economical costs. Also, the government of India is focusing on the “Make in India” campaign which is estimated to create a favorable environment for foreign investors.
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The report delivers a competitive landscape of the leading market players. Leading market players of the CNC Machine market include Haas Automation, Bosch Rexroth, Mitsubishi Electric Corporation, Mondragon Corporation, Soft Servo Systems, GSK CNC Equipment,Sandvik, FANUC Corporation, Heidenhain and Siemens.
This report segments the CNC Machine market as follows:
Global CNC Machine Market: By Type Segment Analysis
- CNC Lathe
- CNC Milling
- CNC Grinding Machine
- CNC Welding
- CNC Winding
Global CNC Machine Market: By ApplicationSegment Analysis
- Machinery Manufacturing
- Aerospace and Defense
Global CNC Machine Market: Regional Segment Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
Browse the full “CNC Machine Market By Type (CNC Lathe, CNC Milling, CNC Grinding Machine, CNC Welding and CNC Winding) and By Application (Machinery Manufacturing, Automobiles, Electronics, Healthcare and Aerospace, and Defense): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026″ report at www.fnfresearch.com/cnc-machine-market-by-type-cnc-lathe-cnc
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