ID: MRFR/AM/8629-HCR | February 2021 | Region: Global | 100 pages
CNC Machine Market size is anticipated to register a 5% CAGR forecast period.
The manufacturing industry is dependent on CNC machines. Plenty of manufacturing industries are adopting the CNC lathes. The CNC automation machine produces precise and accurate manufacturing pieces. Today, industries require automation. Without these automation machines, it is impossible to meet the vast demand in the manufacturing market. The CNC machines can be integrated with a monitoring system. It is a highly versatile machine that is suitable to produce plenty of manufacturing pieces. By uploading algorithms in a monitor, any manufacturer can create desired items in different size, shape and design.
It is the most suitable machine in the woodwork industry. The smooth working-ability of the CNC machine suits the industry that requires craftsmanship in manufacturing pieces. The automation machine helps the industry to increase time efficiency and reduce labour cost. Global CNC Machine Market size is anticipated to register a 5% CAGR between 2020 and 2026 and reach an approximate value of USD 90 Billion in 2026. Today, the manufacturing and factory units are the high demanding end-users of CNC machines. The CNC machines efficiency and effectiveness is much more essential in the future years. The adoption of the CNC machine in various sectors is happening at an exponential pace.
Covid 19 has caused the global shutdown of top industries and market. However, the covid 19 CNC machine market Analysis does not show any negative impact. The demand-supply chain of the CNC lathe has no significant disturbances. The number of labours working in the industry is limited due to covid 19. However, the CNC machine helped many manufacturing industries to cope with the situation. Many industries that require craftsmanship opted for the CNC lathe as an alternative. The increasing trend of using modern machinery increased the demand for CNC machines. Even the inadequacy of skilled labours and working hours limit did not affect the manufacturing units because of the CNC machine. There is a steady flow of growth in the CNC machine market Trends both before and post covid 19 pandemic.
The crucial market drivers
Today, most manufacturing units require modern age technologies. Factories want to increase their production by adopting automation technologies. The preference of factories to produce work pieces effectively and efficiently is the CNC machine market driving factors. From cutting, designing, drilling, turning operation are effortless with a CNC lathe. The ease of working with these automation devices serve as a major market driving factor.
Also, there is a massive demand for new technologies that run without human supervision. Most of the industries are ready to adopt these new technologies. The CNC is one such machine that can do plenty of tasks without any monitoring. Furthermore, the CNC machine reduces the time, labour cost and operational costs. These features of automation machine attract factory owners. It is another great-demand driving factor for the CNC machine market. The CNC machine also solves the problem of less working space in small factories. These CNC machines are compact for even small factories. It is an important demand driving factor for the CNC machine market. Also, the requirement of industrial up-gradation is more in the future years. Therefore, there is plenty of demand driving factors for the CNC machine market in the upcoming years.
The market growth opportunities
The need for 3D and CAD-CAM technology is massive in the future. The manufacturing industries require 3D tools for drilling, tapping and boring products. All these tasks are crucial in the automobile industries. There is expected to be a great demand for CNC machine market in the forecast period from the automobile industry. The vehicle manufactures can perform quality and intricate works with the CNC machine. Apart from this, the aerospace industries are adopting CNC technology. It is another crucial aspect that provides a wide range of growth opportunities for the CNC machine market. Moreover, the defence sector is upgrading for the CNC machines to achieve accuracy and precision in weapon making. All these factors are providing exceptional growth opportunities for the CNC machine market.
The market restraints
Some of the factories find it difficult to adopt to the CNC machines. The high investment cost is the major restraint in this market. The manual factory machines are highly cost-effective than the CNC machine. Furthermore, maintenance is essential for high-end CNC machines. The maintenance cost is another market restraint. Most of the small industry has skilled labours that can operate the manual machine effectively. However, computer skill is required to use CNC machines. The labours in the small factory do not possess the knowledge to operate these computerised machines. It is a major restraint to the CNC machine market.
The market challenges
The inadequate skills to run these automation machines pose a significant challenge to the market. There is a serious-requirement of training programs to make individuals aware of the CNC machine operations. There not many skilled workers to operate CNC machines in small factories. The lack of awareness about its operation and the lack of skills to operate CNC’s among labours is a crucial challenge to the market. Lack of training can completely change CNC machine market Outlook.
Cumulative growth opportunities
The high investment price is a significant barrier to the total CNC machine market growth. Additionally, the maintenance cost of the CNC machine is another crucial aspect that can hinder the CNC machine market growth. Creating awareness about the benefits of CNC machine is essential for market growth. The investing rate is high but purchasing CNC reduces plenty of other costs involved in factory units. Also, providing proper training programs for small factory workers may encourage them to purchase CNC for the factory.
Value chain analysis
Asia Pacific holds the largest CNC machine market Share. The demand for automation technologies is high in this region. Also, the availability of raw materials and cost competitiveness are the top market driving factors in Asia. The growth in this region is a surging trend in the forecast year 2026. The countries such as Japan, India and china expecting high CNC machine demand in the forecast period.
The Asia Pacific region dominates the global CNC machine Industry in the forecast period. The regional players Europe, North America and Asia pacific are responsible for the massive CNC machine market value of USD 90 Billion in 2026. The surging industrial units and rise in the demand for automation technology are the crucial market drivers. North America is the second-largest CNC machine market in the world. The high demand from the successful manufacturing sectors is the main reasons for the high demand. Further, Europe is another region that has positive growth of the CNC machine market. The massive requirement of automation technology in the automotive industry is the cause for surging market demand.
The key players in the CNC machine market are implementing strategies for market expansion. The R&D programs in the competitive landscape are the significant reason that fosters growth.
The competitive players by region
The key players in the CNC machine market are
|Market Size||2026: USD 90 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and end-users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amada Co., Ltd. (Japan), Amera Seiki (US), Fanuc Corporation (Japan), Datron AG (Germany), MG Mori (Germany), Dalian Machine Tool Group (DMTG) Corporation (China), Haas Automation, Inc. (US), Okuma Corporation (Japan), Shenyang Machine Tool Co., Ltd. (SMTCL) (China), Hurco Companies, Inc. (US), and Yamazaki Mazak Corporation (Japan)|
|Key Market Opportunities||Need for 3D and CAD-CAM technology|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global CNC machine market valuation is estimated to hit USD 90 billion by 2026.
The global CNC machine market is expected to exhibit 5% CAGR from 2020 to 2026.
The global CNC machine market is driven by advances in production technology for finishing products in less time and better finish.
Automotive, power & energy, and industrial sectors can generate heavy retursn for the global CNC machine market.
APAC is assumed to dominate the market till 2026.
Fanuc Corporation, Haas Automation, Inc., Okuma Corporation, Yamazaki Mazak Corporation, Hurco Companies, Inc., Datron AG, Dalian Machine Tool Group (DMTG) Corporation, MG Mori, Amera Seiki, Shenyang Machine Tool Co., Ltd. (SMTCL), and Amada Co., Ltd. are prominent players of the global CNC machine market.