Facts and Factors have published a new research report titled “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”.
According to the research study, the global CNC Machine Market was estimated at USD 80 billion in 2019 and is expected to reach USD 115 billion by 2026. The global CNC Machine Market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2020 to 2027.
Global CNC Machine Market Growing Massively owing to the Growth of CNC Automation Paired with Ongoing Technological Advancements Is Expected to Propel the growth of the global CNC Machine Market in years to come.
Computer numerical control (CNC) is a numerical control system in which the control is combined with a dedicated computer to perform simple and advanced NC functions. Numerical control (NC) refers to computer or process control employing symbolic codes consisting of characters and numerals. CNC machines can be used constantly and, for occasional maintenance, only need to be turned off. Different manual lathes or milling machines etc., these machines need less skilled individuals to work. By refining the software that is used to drive the machines, Computer numerical control machines can be progressed.
Browse through 47 Tables & 115 Figures spread over 185+ Pages and in-depth TOC on “Global CNC Machine Market: By Type, Industry Size, Share, Demand, Growth, Applications, Analysis and Forecast, 2019–2026”.
Over the past few years, interest in solid carbide tools and PCD tools has increased. The need for more longevity, temperature tolerance, and fewer vibrations/clatter is due to this transition. A shift towards smaller size machines, but also with more competences, is also present. This is in need for less use of floor space and the development of factories and stores with varied needs. There is an increase in commercial demand for compact CNC machines through multi-axis technology and automated tool changers. That is because CNC machines are increasingly being used by various large producers to perform cutting, drilling, deformation, turning operations, knurling, and facing. Besides, there will be plenty of new systems with new features and offerings are coming to the market.
In coming years, constantly rising productivity, time effectiveness, and demand for precision & accuracy provided across metal related working industries such as manufacturing industries as well as automotive is expected to fuel the growth of the global computer numerical control market. Furthermore, encouraging government initiatives such as “Made in China 2025” and “Make in India” “in the Asia Pacific region is shaping the growth of the CNC machine market size. On a contrary, the high cost of CNC Machine may adversely impact the growth of the global CNC machine market in the analysis period.