Dublin, June 21, 2019 (GLOBE NEWSWIRE) -- The "The Computer Numerical Controls (CNC) Market - Worldwide Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The computer numerical controls market is projected to register a CAGR of 7.3%, during the forecast period (2019-2024). The increase in demand for productions efficiency will drive the market in the forecast period.
Key Highlights
- There is an increasing demand for production efficiency, as these computer numerical control machines streamline many operational processes by reducing production time and minimizing human error.
- Also, a highly competitive market has compelled players to focus on efficient manufacturing techniques. They are trying to gain competitive advantage by redesigning their facilities, which include CNC machines. Apart from this, the integration of 3D printing with CNC machines is a unique addition to some of the new production units, which is expected to offer better multi-material capability, with little resource wastage.
- The growing demand for automated manufacturing in the industrial sector has resulted in the increasing usage of CNC machines. Also, the establishment of manufacturing facilities in Asia-Pacific has spurred the usage of computer numerical controls in the sector.
- On the other hand, the automotive sector is set to be a rapidly developing one in the coming years, mainly due to the increasing rate of automated automobile manufacturing.
- Also, rising concerns over global warming and depleting energy reserves have led to the production of alternative sources of power, such as solar and water, among various others, which are further promoting the market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.
Key Market Trends
Growing Demand for Automated Manufacturing in Industrial Sector
- Growing demand for automated manufacturing in the industrial sector has resulted in the increasing uptake of CNC machines. Also, the establishment of manufacturing facilities in the Asia Pacific has also spurred the usage of computer numerical controls in this sector.
- CNC machines are also actively used in power generation, as this process requires wide-scale automation. Further, the use of customized parts and critical components used in the industry makes it solutions that the industry are opting to cut down and mitigate any breakdown situation.
- In the automotive sector, CNC plays a vital role recently. From die- casting similar components to crafting unibody frames, CNC tools and machines are solely responsible for a large number of parts present in modern vehicles.
- In fact, carburetor housings, suspension components, axles, bearing caps as well as engine housings are all manufactured using CNC machines. Acrylic/PMMA machining for headlights, exterior lights as well as interior lights are another paradigm on how numerical control machining is being utilized when components are being made in the automotive sector. The automotive sector is set to be the rapidly developing segment in the coming years mainly due to the increasing rate of automated automobile manufacturing.
Asia-Pacific Holds the Largest Share in Computer Numerical Controls Market
- Developing economies, such as China and India, have been witnessing rapid growth in terms of industrialization, thereby driving the market. The automotive sector is expected to grow significantly during the forecast period, owing to the rising demand for automobiles in the region.
- The easy availability of labor and the declining prices of components have resulted in manufacturers shifting their production units in this region, which is further promoting the market. nearness to the supply and demand region is among the critical factor that drives the adoption in this region.
- Moreover, the establishment of manufacturing facilities in the Asia Pacific has spurred the usage of computer numerical controls in this sector. On the other hand, the automotive industry is set to be the rapidly developing segment in the coming years, mainly due to the increasing rate of automated automobile manufacturing. Increased efficiency, time effectiveness, and precision & accuracy provided across metalworking industries such as the automobile and manufacturing industries are expected to drive the CNC market.
Competitive Landscape
The major players include Hurco Companies Inc., Protomatic Inc., Metal Craft, AMS Micromedical LLC, JTEKT Corporation, Haas Automation, Fanuc Corporation, Siemens AG, DMG Mori Seiki Co., and others. The market concentration is expected to be moderate because there is no competition among the players. The accompanying software and its operability on industrial systems are of critical importance for the selection of these systems and is among the major strategy of the market vendors for innovations.
Recent Developments
- April 2019 - Siemens launched a new version of the software tool for planning and simulating automation networks on the market. Sinetplam V2.0, which supports the plant planner, builders, and operators of the automation system. The company plans to showcase its new features which integrate into the digital planning and engineering workflow, at the Hannover Messe 2019.
- May 2018 - Bonsai, the AI startup, and Siemens deployed Artificial Intelligence on a real-world machine in a test environment that marked the first time deep reinforcement learning had been successfully applied to auto-calibrate real-world computer numerical control (CNC) machines. Siemens experts trained an AI model, using Bonsai's AI platform, to auto-calibrate a CNC machine more than 30 times faster than an expert human operator.
Key Topics Covered
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand for Production Efficiency
4.3.2 Increasing Demand for Customised Production
4.4 Market Restraints
4.4.1 High Costs Associated with Installation and Maintenance
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Machine Type
5.1.1 Lathe Machine
5.1.2 Miller Machine
5.1.3 Laser
5.1.4 Welding Machine
5.1.5 Winding Machine
5.1.6 Other Machine Types
5.2 By End Users
5.2.1 Automotive
5.2.2 Industrial
5.2.3 Power & Energy
5.2.4 Aerospace & Defense
5.2.5 Other End Users
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Hurco Companies Inc.
6.1.2 Protomatic Inc.
6.1.3 Metal Craft
6.1.4 AMS Micromedical LLC
6.1.5 JTEKT Corporation
6.1.6 Haas Automation
6.1.7 Fanuc Corporation
6.1.8 Dr. Johannes Heidenhain GmbH
6.1.9 Siemens AG
6.1.10 DMG Mori Seiki Co.
6.1.11 Takisawa Machine Tool Co. Ltd.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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Related Topics: Industrial Automation