Global Computer Numerical Control (CNC) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Computer Numerical Control Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global computer numerical control market report has been segmented on the basis of type, end user, and region.

Global Computer Numerical Control Market: Overview

Computer numerical controls or CNC is an application-specific motion control system used in manufacturing industry which involves the use of computers to control machine tools such as lathes, mills, grinders, etc.

Global Computer Numerical Control Market: Dynamics

Rising adoption of computer numerical control by various industries, owing to increasing demand for mass production plants by various industrial applications such as machining graphite, electronic parts manufacturing, engraving steel, and machining plastics is a key factor expected to drive growth of the global market over the forecast period.

In addition, increasing accuracy and production efficiency across various sectors such as automobile, aerospace, healthcare, industrial machines, and electronics are expected to further fuel growth of the target market over the forecast period.

Moreover, technological advancements in production technology resulting in reducing manufacturing time is another factor expected to boost growth of the target market over the forecast period.

Furthermore, introduction of machine learning technology and Internet of Things (IoT) and increasing government initiative to establish manufacturing units across various countries are some other factors expected to propel growth of the target market over the forecast period.

However, high purchasing and installation cost of CNC machines is a key factor expected to restrain growth of the global market over the forecast period.

Increasing technological developments, innovative product launches in machine tool equipment and increasing number of application areas are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Increasing investments in research and development activities and improving business by various business strategies such as acquisitions, mergers by key players operating in the target market is expected to support growth of the global market over the forecast period.

Global Computer Numerical Control Market: Segment Analysis

Among the type segments, the lathe machines segment is expected to register significant growth in terms of revenue over the forecast period, owing to availability of multi-axis variants. The milling machines segment is expected to register highest CAGR over the forecast period, owing to its multi-functionality.

Among the end user segments, the automotive segment is expected to register significant growth in terms of CAGR over the forecast period, owing to increasing demand for such products from automotive industry.

Global Computer Numerical Control Market: Regional Analysis

The market in Europe is expected to dominate into the global market and is expected to continue its dominance over the forecast period. The dominance can be attributed to increasing demand for machine tools across various countries in this region.

The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing technological advancements and presence of major manufacturers such as Okuma Corporation, DMG Mori Co., Ltd., and Yamazaki Mazak Corporation across various countries in this region. In addition, government across many countries taking initiatives in order to support machine tools industry is another factor expected to fuel growth of the target market in this region.

Global Computer Numerical Control Market Segmentation:

Segmentation by type:

• Lathe Machines
• Milling Machines
• Laser Machines
• Grinding Machines
• Welding Machines
• Winding Machines
• Others

Segmentation by end user:

• Automotive
• Aerospace & Defense
• Construction Equipment
• Power & Energy
• Industrial
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa