ID: MRFR/IA - E/6134-HCR | February 2021 | Region: Global | 100 pages
Desktop CNC Machines Market is projected to grow at a CAGR of XX% during the forecast period.
The global desktop CNC machines market has witnessed tremendous growth in the last few years, owing to the growing demand from the manufacturing sector and the quality delivered by CNC machines. Manufacturers that specialize in producing CNC machines offer a wide range of lightweight and smaller desktop machines. These machines feature high-tech machine tools including a power-driven grinding wheel, which spins at the required speed, and a fixture that guides and holds the workpiece. They are not only precise but also have the capability to handle soft materials, such as plastic and foam.
Some of the key players operating in the global desktop CNC machines market are Carbide3D (US), Stoney CNC (Ireland), VELOX CNC (US), PHILICAM (China), Marchant Dice (England), Stepcraft (Germany), Printrbot (US), Roland (Japan), 3D Tek (Australia), CAMaster (Georgia), Rockler (Medina), MakerDreams (Venice), RedSail (US), and Boxzy (US).
Desktop CNC machines are widely used in the various manufacturing industries, such as automotive and aerospace. Hence, the global desktop CNC machines market is anticipated to witness a significant growth rate, due to the exponential growth in these sectors. Their advanced and precise manufacturing and machining processes require highly advanced techniques to reduce machining downtime. These techniques effectively utilize raw materials and reduce material wastage, which is projected to encourage industrial operations and maximize profits for end users, globally. Additionally, these machines increase productivity and effectively reduce the gap between design and production, which are some of the factors that are increasing their adoption. However, the high cost of desktop CNC machines could hinder the overall market growth as they are much more expensive than other manually operated machines.
Global Desktop CNC Machines Market: Regional Analysis
Geographically, the global desktop CNC machines market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). In 2017, Asia-Pacific accounted for the largest market share of around 35%, followed by North America and Europe; it is anticipated to retain its position till 2023. Additionally, the region is expected to witness maximum growth rate in the global desktop CNC machines market, owing to the robust growth of manufacturing sectors in emerging economies, such as South Korea, China, and India, which is expected to increase the demand for desktop CNC machines in the next few years.
Global Desktop CNC Machines Market: Segmentation
The global desktop CNC machines market has been segmented based on product type, application, and region. The product type segment is classified into– CNC Lathe, CNC Milling Machine, and electric polishing machine. The application segment is classified into– machinery manufacturing, automotive, aerospace & defense, and others.
On the basis of product type, the CNC lathe segment emerged as the largest segment, which is anticipated to retain its position by 2023, as these machines can handle materials up to six inches diameter, which are useful in mold making and jewelry making. However, they are limited to domestic applications and are not appropriate for industrial applications. Hence, these machines, expected to have a steady growth rate in the global desktop CNC machines market during the forecast period.
On the basis of application, the market is segmented into machinery manufacturing, automotive, aerospace & defense, and others. The automotive segment is expected to witness maximum growth rate in the global desktop CNC machines market. This is due to the rapid automation of the automotive industry, which requires desktop CNC machines for manufacturing complicated automotive parts. Hence, these machines have changed the face of the automotive industry by permitting the bulk production of identical parts and components with the highest degree of accuracy.
The global desktop CNC machines market is highly competitive with many players, across the globe. These major players have adopted various strategies to expand their global presence and increase their foothold in the global desktop CNC machines market. Some of their key strategies include expansions, investments, acquisitions, and securing contracts.
|Market Size||2027: Significant Value|
|CAGR||Substantial CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Carbide3D (US), Stoney CNC (Ireland), VELOX CNC (US), PHILICAM (China), Marchant Dice (England), Stepcraft (Germany), Printrbot (US), Roland (Japan), 3D Tek (Australia), CAMaster (Georgia), Rockler (Medina), MakerDreams (Venice), RedSail (US), and Boxzy (US)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The desktop CNC machine market is projected to register high CAGR in the forecast period owing the high adoption across the rapidly expanding aerospace and automotive industries.
CNC lathe, electric polishing machine, and CNC milling machine are types of desktop CNC machines. The availability of different type of machines that can serve different manufacturing issues can boost the desktop machine market growth.
Machinery, automotive, manufacturing, aerospace, and defense are major end-users of desktop CNC machines. The manufacturing segment can contribute significantly to the emerging market of desktop CNC machine.
Stoney CNC (Ireland), Carbide3D (US), PHILICAM (China), VELOX CNC (US), Stepcraft (Germany), Marchant Dice (England), Roland (Japan), Printrbot (US), CAMaster (Georgia), 3D Tek (Australia), MakerDreams (Venice), Rockler (Medina), Boxzy (US), and RedSail (US) are key players of the market. Their investment in research and development activities for new product launch. The inclination of people towards better products can positively impact the market.
The manufacturing sector is a high consumer of desktop CNC market. In APAC, the fast paced expansion of the manufacturing sector can influence the expansion of the desktop CNC machine market.