Computer Numerical Controls Market is estimated to reach $87 billion by 2024; growing at a CAGR of 6.9% between 2016 and 2024

Computer Numerical Controls Market is estimated to reach $87 billion by 2024; growing at a CAGR of 6.9% between 2016 and 2024. Computer numerical control (CNC) is a computer-aided machine tool system in which the functions of the machines are controlled by a program consisting of a coded alphanumeric data. It is considered as a staple of modern manufacturing. A CNC system majorly consists of three components which includes part program, machine control unit (MCU) and machine tool. They can be used to control both the machine tools as well as the non-machine zones. CNC has been widely used for lathe, milling machine, drill press, laser, grinding unit and tube bending machine, among others. In the non-machine areas, the applications include coordinate measuring machine, tape laying and electronic assembly, among others. CNC offers various benefits such as high accuracy in manufacturing, reduction in human error & production time and higher manufacturing flexibility.

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Increase in the number of small manufacturing units with need for automated machines and non-availability of labors fuels the growth of the global computer numerical controls market. Rising disposable income among middle-level families in emerging economies and need for mass production of various goods also supports the growth of the CNC market. However, high maintenance cost of machines and non-availability of skilled programmers limits the growth of the market. Increasing number of applications and advancements in techniques may provide growth opportunities in the coming years.

Type, application and geography are the key segments of the global computer numerical controls market. Type segment includes lathe machines, grinding units, milling machines, welding machines, lasers, winding machines and others. Furthermore, by applications, it is segmented into power & energy, automotive, defense & aerospace, industrial, and others.

The computer numerical controls market has been bifurcated by geography into North America, Europe, Asia-Pacific and RoW. The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, Japan, India, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.

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The key players in the CNC market include Dr. Johannes Heidenhain GmbH, Mitsubishi Electric Corp., Seimens AG, Bosh Rexroth AG, Roger Automation, Fanuc Corporation, Sieb & Meyer AG, Haas Automation, GSK CNC EQUIPMENT Co. Ltd., and Soft Servo Systems, among others.

The key takeaways from the report:
The report will provide detailed analysis of Computer Numerical Controls Market with respect to major segments such as type and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Computer Numerical Controls Market has been provided in the report
Profile of the key players of the Computer Numerical Controls Market, will be provided, which include key financials, product & services, new developments and business strategies

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Scope of Computer Numerical Controls Market
Type Segments
Milling Machines
Lathe Machines
Grinding Units
Lasers
Winding Machines
Welding Machines
Others
Application Segments
Industrial
Automotive
Defense & Aerospace
Power & Energy
Others
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Others
Asia-Pacific
China
Japan
India
South Korea
Others
RoW
South America
Middle East
Africa

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