- A Computer Numerical Control (CNC) machine is a motorized maneuverable tool which is monitored by a computer, according to specific input instructions.
Key Drivers of the Global Computer Numerical Control Machines Market
- CNC machines have the ability to decrease the manpower requirement and provide accurate machining services in lesser time. The complete process of CNC machining depends on CAD and CAM software.
- The product has wide usage in the fabrication industry as a result of its quick and accurate work. Key producers offer innovative technologies to perform multiple operations including cutting, drilling, facing, turning, and grinding.
- Growing demand for metal cutting in the automotive industry is expected to create demand for different CNC machines at the global level. It has been estimated that introduction of electric vehicles globally is creating demand for CNC machines. Automotive manufacturers prefer to install multiple CNC machines for all fabrication and mechanical cutting purposes.
Rising Demand for Milling Machines to Create New Market Opportunities
- Increasing requirement for advanced machining tools which have the ability to simplify complex machining processes is driving the demand for milling machines. Moreover, growing adoption of digitalization coupled with the need to automate the metal cutting process in manufacturing units to develop components and products with complex geometry is likely to create new opportunities in the CNC machines market.
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Volatility in Raw Material Cost to Hamper the Global Computer Numerical Control Machines Market
- The global CNC machines market is impacted negatively as a result of high initial investment requirement. Furthermore, changing metal prices have resulted in lower profits for CNC machine manufacturers.
Asia Pacific the Dominant Market for Computer Numerical Control Machines
- Asia Pacific was the fastest growing computer numerical control machines market in 2018. This dominance is attributed to the extensive adoption of CNC machines in China, India, and Japan. Key manufacturers operating in the Asia Pacific market are DMG Mori Co., Ltd., Yamazaki Mazak Corporation, and Okuma Corporation. Increasing government initiatives for development of small & medium industries is also driving market demand.
- Europe is expected to be the fastest growing region in the computer numerical control machines market. Key players driving this market growth are Dr. Johannes Heidenahain GmbH, Datron AG, and Sandvik AB.
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Key Players Operating in the Global Market
The global computer numerical control machines market is fragmented in nature. Key market participants are signing strategic partnerships and taking strategic merger and acquisition decisions to increase their global market reach. Moreover, major companies are investing in research and development activities. They are working to improve the machine designs and provide multiple operations with a single machine. This trait is set to improve plant productivity. For instance, Hurco Companies, Inc. invested US$ 4.7 Mn in product development and for innovation. A few of the key players operating in the global computer numerical control machines market are listed below:
- Amada Co., Ltd.
- Amera Seiki
- Dalian Machine Tool Group (DMTG) Corporation
- Datron AG
- DMG Mori
- Fanuc Corporation
- Haas Automation, Inc.
- Hurco Companies, Inc.
- Okuma Corporation
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