Computer Numerical Controls Machine Tools Market: Growth and Trends

The “Computer Numerical Controls Machine Tools Market Research Report Overview by 2024” market size is reached USD 83.99 billion by 2021 and it is projected to reach USD 140.78 billion by 2029 between the forecast period and expected Compound annual growth rate of 7.1% between the forcast period by (2021-2029).

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CNC (Computer Numerical Control) Machine Market Share, Size & Industry Analysis, By Type (Metal Cutting, Metal Forming), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, Others), and Regional Forecast Between, 2022-2029

Major Keyplayers of computer numerical controls machine tools market:

Some of the key players operating in the global computer numerical controls machine tools Industry are:

• Yamazaki Mazak Corporation (Japan)
• Doosan Machine Tools Co., Ltd. (Korea)
• Trumpf (Germany)
• Amada Machine Tools Co., Ltd (Japan)
• JTEKT Corporation (Japan)
• MAG IAS GmbH (Germany)
• Schuler AG (Germany)
• Makino (Japan)
• Hyundai WIA (Korea)
• Komatsu Ltd. (Japan)
• Okuma Corporation (Japan)
• FANUC Corporation (Japan)
• XYZ Machine Tools (U.K.)
• Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Japan)
• General Technology Group Dalian Machine Tool Corporation (Liaoning Province)
• ANCA Group (Australia)

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Key industry developments of computer numerical controls machine tools market:

• MES Inc. announced the acquisition of Versatech, LLC, which operates as a prominent manufacturer of CNC machine solutions. This acquisition will augment intentions of MES Inc. to increase its prominence in the last mile manufacturing industry.
• Fanuc Corporation, in collaboration with Preferred Networks, Inc., developed an AI function named AI Servo Monitor that collects control data from the spindle axis and feeds axis machines with high-speed sampling.
• CNC Software Inc., a company engaged in development and distribution of CAD/CAM software solutions for diverse players operating in the manufacturing industry, was acquired by Sandvik. The company will now perform under the design & planning automation division of Sandvik.
• Ramco Specialties Inc., which works as a manufacturer of critical components across the market of the U.S. has recently increased its capabilities of its manufacturing facilities through procurement of tight-tolerance CNC equipment. This installation is expected to encourage other critical component manufacturers within the area to procure such state of art equipment for manufacturing.

Drivers and restraints of computer numerical controls machine tools market:

• Drivers:
  • Advancements in CNC Technology: Continuous technological improvements, such as enhanced precision, automation, and integration with Industry 4.0, drive the adoption of CNC machine tools.
  • Rising Demand for Precision Manufacturing: The need for high-precision and complex components in industries like aerospace, automotive, and electronics fuels the demand for advanced CNC machine tools.
  • Growth in Industrial Automation: The increasing focus on automation and efficient production processes in manufacturing sectors boosts the demand for CNC machine tools that offer automation capabilities.
  • Expansion of the Manufacturing Sector: The growth of the manufacturing sector, particularly in emerging economies, drives the demand for CNC machine tools for efficient and scalable production.
  • Focus on Reducing Operational Costs: CNC machine tools help in reducing labor costs, improving production efficiency, and minimizing errors, which drives their adoption in various manufacturing applications.
• Restraints:
  • High Initial Investment: The significant upfront cost of purchasing and installing CNC machine tools can be a barrier for small and medium-sized enterprises (SMEs).
  • Complexity and Skill Requirements: Operating and maintaining CNC machine tools requires specialized knowledge and skills, which can be a challenge for companies lacking trained personnel.
  • Maintenance and Downtime Costs: Regular maintenance and potential downtime of CNC machine tools can impact production schedules and add to operational costs.
  • Technological Obsolescence: Rapid technological advancements may lead to CNC machine tools becoming outdated quickly, necessitating frequent upgrades or replacements.
  • Space and Layout Constraints: CNC machine tools require considerable space and proper facility layout, which can be a limitation for companies with limited manufacturing space.

Regional Insights:

• North America (By Type, Application, and Country)
  • U.S.
  • Canada
• Europe (By Type, Application, and Country)
  • Germany
  • Russia
  • U.K.
  • Italy
• Asia Pacific (By Type, Application, and Country)
  • China
  • India
  • Japan
  • Southeast Asia
• Middle East & Africa (By Type, Application, and Country)
  • GCC Countries
  • South Africa
• Latin America (By Type, Application, and Country)
  • Brazil
  • Mexico

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

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