The CNC machine market is projected to grow at a CAGR of 7.62% to reach US$76.058 billion by 2024, from US$48.965 billion in 2018. In contrast to the conventional machines that requires continuous operator’s presence for optimal functioning, CNC machines does the mechanical process based on the pre-defined parameters embedded in computerized control unit which gives it instruction regarding the tool control, feed rate, coordinate systems etc. The growing competitive environment is resulting in firms pushing their efforts to increase the production in order to improve on its existing market position. The ability of the CNC machine to increase the productivity along with improving the overall safety as compared to the conventional machines is significantly driving the CNC machines market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the CNC machine value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the CNC machine market.
Major industry players profiled as part of the report are Dalian Machine Tool Group Corporation, Samsung Machine Tools, Okuna Corporation, and Mazak Corporation among others.
The CNC machine market has been analyzed through following segments:
Laser Cutting Machine
Plasma Cutting Machine
Pick and Place Machine
By Industry Vertical
Aerospace and Defense
Energy & Power
Middle East and Africa