ID: MRFR/IA - E/6849-CR | September 2019 | Region: Global | 116 pages
CNC Router Market is projected to expand at 6.14% CAGR over the forecast period (2019-2025), according to Market Research Future (MRFR) in its latest report.
The COVID-19 pandemic has halted industrial production of various goods but has provided a golden opportunity for CNC routing machine makers. Dividers used in pharmacies, restaurants, hospitals, and grocery stores are made on a CNC router and can induce heavy market demand during the pandemic. The stands can be manufactured using different materials and be customized according to need. Huge need for protective shields such as barrier shields, face shields, splash guards, and intubation boxes can be potential production opportunities for product makers. It can be completed in record time due to the use of CNC machines. For instance, The Tom Love Innovation Hub and University of Oklahoma have decided to collaborate on their efforts for building essential equipment designs to aid healthcare workers.
Key Companies Covered in the Report
Anderson Group (Taiwan), MultiCam Inc. (U.S.), The Shoda Company (Japan), Exel CNC Ltd (U.K.), Carbide 3D LLC (U.S.), Biesse Group (Italy), Thermwood Corporation (U.S.), HOMAG Group (Germany), ShopSabre (U.S.), Komo Machine (U.S.), and AXYZ Automation Group (Canada) are major suppliers in the global CNC router market.
Rise in Furniture Production
The huge demand for wood construction and furniture production is estimated to drive the demand for CNC routers. Adoption of advanced machines for driving productivity and efficiency of processes can bode well for the CNC router market. CNC routers can reduce error rate and time required for finishing products. The machines can maximize production by cutting any material cleanly and efficiently. Huge need for saving on outsourcing and focus on quality can drive the market demand significantly. CNC routers can repeat the same design with low chances of error and high accuracy. It gains instruction on routing parameters for completing accurate and precise work.
Automation in Emerging Economies
Adoption of automation in emerging economies is expected to present a new growth opportunity for CNC router makers. The COVID-19 pandemic has created the demand for essential equipment with CNC makers being declared a vital part of essential services. Industrial design companies are increasingly relying on CNC machines for making modular kitchens, furniture, educational and play equipment, and PoS units. For instance DT Solutions has procured necessary equipment to cater to their production demand. Moreover, training of professionals to operate CNC software for ensuring low interruptions in production can bode well for the global market.
Lack of Skilled Laborers
The lack of skilled laborers in operating the machine and software efficiently can restrain the market growth. Investment costs in training of new employees can hinder the market from expansion.
Movable Gantry Segment to Dominate Global Market
The movable gantry type segment is expected to dominate the global market growth as the equipment finds application in sectors of power, automotive, construction, and industrial sectors. The machine controls operations on three axes to enhance the machine quality.
Metal Tool to Command Demand Share
The metal tool is estimated to command a huge demand share of the global CNC router market owing to increasing utilization of the machine in woodworking and metalworking. Extraction of wood is central in driving the demand for metal tools over the forecast period.
Woodworking to Lead in Global Market
The woodworking segment held largest market share in 2018 and can dominate the industry over the forecast period due to adoption and development of CNC routers for woodworking. The shifting inclination of workers to CNC routers from standard machines for quality finish and ensuring operational efficiency can drive the application growth over the assessment period. The need for 3D designing and carving on wooden products can drive the market demand for CNC routers. The inclination towards DIY projects is also expected to contribute to the application growth. Medium thickness fiberboards are utilized in cabinetry, furniture, and flooring making and require CNC routers for consistency, machinability, and smooth finish.
Construction to be Biggest Industry End-user
The construction industry is expected to be the biggest revenue generator in the market owing to huge demand for wood construction and adoption of advanced machinery for time saving applications such as routing, cutting, and drilling.
The automotive industry is expected to undergo major changes as it grapples with environmental legislations and new manufacturing codes for limiting carbon emissions. Huge demand for hybrid and electric vehicles can drive the demand for CNC routes in carving new designs for doors, hoods, and car trunks. Replacement of fuel-driven cars will present a new growth pocket for the CNC router industry.
APAC to Register Fastest Growth Rate
APAC is expected to register the fastest growth rate over the forecast period owing to large industrial hubs in India, China, and Japan. Production of automotive components and industrial parts are likely to drive the market demand in the region. The revival of the automotive sector and its expansion plans are likely to fare well for the global CNC router market. Huge demand for CNC routers in construction for woodworks can bode well for the market.
Europe to Assume Second Position
Europe has assumed the second position in the CNC router industry owing to increased trading and adoption of advanced technology. Presence of automotive manufacturers such as Volvo, Audi, and BMW as well as investments in research and development can drive the regional market demand.
Global CNC Router Market is filled with international and domestic players eyeing for a major market share. It is fragmented with players competing on product development and prices. Acquisitions are expected as the industry caters to various industry verticals and integrates new technology for improving production and precision.
CNC routers are used for cutting various materials such as wood, glass, aluminum, steel, plastics, and composites using a CNC machine. Items such as carvings, decorations, panels, instruments, and other furniture can be manufactured repeatedly with the help of a computer numerical control machine. Rapid pace of industrialization and plans for growth by countries can provide plenty of scope for the CNC router industry.
Global CNC Router Market report by MRFR looks at prospects and opportunities for the industry during the forecast period. The report has been compiled using in-depth primary and secondary research and supported by statistics and events backed by trusted sources. It is segmented in the following manner:
|Market Size||2030: Significant Value|
|CAGR||6.14% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product, Application, and End-Use Industry|
|Geographies Covered||orth America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Anderson Group (Taiwan), MultiCam Inc. (U.S.), The Shoda Company (Japan), Exel CNC Ltd (U.K.), Carbide 3D LLC (U.S.), Biesse Group (Italy), Thermwood Corporation (U.S.), HOMAG Group (Germany), ShopSabre (U.S.), Komo Machine (U.S.), and AXYZ Automation Group (Canada)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
CNC router functions similar to CNC mill. To route tool paths that make machines to function, CNC router uses computer numerical control.
High rate of productivity and reduction in waste are benefits offered by CNC routers. These advantages can work in favor of the global CNC router market.
The increase in use of CNC router by automobile and aerospace industries can generate high revenue for the APAC CNC router market across the evaluation period.
Stationary gantry, cross-feed unit, and movable gantry are types of CNC routers. The availability of different types of CNC router can benefit the worldwide CNC router market.
HOMAG Group (Germany), Biesse Group (Italy), Exel CNC Ltd (UK), Anderson Group (Taiwan), Thermwood Corporation (US), MultiCam Inc. (US), ShopSabre (US), Shoda Company (Japan), Carbide 3D LLC (US), Komo Machine (US), and AXYZ Automation Group (Canada). Deals and pacts among key players and innovations launched by them are expected to positively impact the market.