The computer numerical controls (CNC) market is characterized by a highly competitive vendor landscape, mainly due the presence of numerous players in the market. Participating in mergers & acquisitions, focusing on achieving product differentiation, and facilitating product regulation also are prime strategies implemented by most players operating in this market.
The competition is expected to intensify with new players entering the computer numerical controls (CNC) market on a regular basis, thus giving rise to a fierce rivalry between individual players. DMG Mori Co. Ltd., Haas Automation, Fanuc Corporation, Siemens AG, Dr. Johannes Heidenhain GmbH, GSK CNC Equipments Co. Ltd., JTEKT Corporation, Takisawa Machine Tool Co. Ltd., OKUMA Corporation, and Yamazaki Mazak Corporation, are chief players operating in the global computer numerical controls (CNC) market.
Statistically speaking, the global computer numerical controls (CNC) market is expected to fetch a revenue of US$ 115.1 bn by 2027, which is a significant rise from an initial revenue worth US$ 64.0 bn registered in 2018. This growth is expected to occur at a rising CAGR of 6.7% during the forecast period from 2019 to 2027
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Need for Automation Boosts Market’s Growth
Rising concerns about reducing operational costs are being witnessed in several industrial sectors, consequently demanding large-scale automation. Such demands for automating various industrial processes is primarily driving the global computer numerical controls (CNC) market. This mainly because of reduction in overall manufacturing time and decreasing chances or human error to occur by using the CNC machines, consequently making them highly preferred.
Rising environmental concerns regarding reduction of industrial carbon footprint has led towards computer numerical controllers being increasingly used in place of manually operating machines. Doing this has resulted into improved efficiency being achieved by businesses working in the industrial domain, thereby being beneficial to the global computer controls (CNC) market.
The global computer numerical controls (CNC) market has been categorized into machine types, application and geography. In terms of machine types, the market has been segmented into lathe machines, milling machines, lasers, grinding units, welding machines and winding machines among others. These machines find their application in several areas such as automotive, industrial, power and energy and defense and aerospace among others.
Geographically, the global computer numerical controls (CNC) market has been segmented into five strategic regions which include North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The report covers a complete regional analysis of all the above regions by discussing the market behavior of the different segments in terms of their revenue. The increasing industrialization and the emerging concern for automated manufacturing facilities have resulted in the strong demand for CNC machines in the Asia Pacific region. The region is expected to dominate the global CNC market during the forecast period.
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Computer Numerical Controls (CNC) Market: Scope of the Study
To have a better understanding of the market, the key trends affecting the demand for CNC machines have been discussed thoroughly. In addition, the challenges effecting the growth of the market have also been provided. Moreover, the push and pull factors in the global market have been analyzed with the market dynamics which includes the drivers, restraints and opportunities. Furthermore, the porter’s five forces analysis have also been included in the scope of the study. In addition, the future scope of the market has been anticipated with the help of market attractiveness analysis. The study tracks the global computer numerical controls (CNC) market in terms of revenue (USD million).
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