DUBLIN, May 11, 2022 /PRNewswire/ -- The "Computer Numerical Control (CNC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global computer numerical control (CNC) market reached a value of US$ 75.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 109.4 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
Computer numerical control (CNC) refers to the process of automating machines that operate through programmed commands encrypted on a storage medium. It involves generating a computer-aided design (CAD) and then translating it into G-code. After the CAD drawing is loaded in the machine control unit (MCU), an operator runs a test for ensuring its proper positioning and performance.
Some of the manufacturing processes performed by these machines include shaping, grinding, bending, cutting, welding, gluing, drilling, hole punching, etc. Nowadays, CNC machines are widely utilized in the manufacturing of metal and plastic parts
A significant rise in the demand for large-scale automation has been witnessed in various industries owing to the increasing need for reducing the overall operational costs. This can also be accredited to the requirement of decreasing the manufacturing time as well as the chances of human error.
Apart from this, the evolution of the Internet of Things (IoT) and machine learning technology has resulted in the development of applications which notify the status of the CNC machine to operators/supervisors on their computers as well as smartphones.
Moreover, several governments are supporting the establishment of manufacturing units in their countries, which is further strengthening the market growth. In addition to this, manufacturers are launching new CNC machines that perform multiple operations simultaneously. These machines aid in increasing the flexibility for attendants and minimizing the workforce requirements
The publisher's latest report provides a deep insight into the global computer numerical control (CNC) market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global computer numerical control (CNC) industry in any manner
Key Questions Answered in This Report:
- How has the global computer numerical control (CNC) market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global computer numerical control (CNC) industry?
- What has been the impact of COVID-19 on the global computer numerical control (CNC) industry?
- What is the breakup of the market based on the machine type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the global computer numerical control (CNC) industry?
- What are the key driving factors and challenges in the global computer numerical control (CNC) industry?
- What is the structure of the global computer numerical control (CNC) industry and who are the key players?
- What is the degree of competition in the global computer numerical control (CNC) industry?
- Mondragon Corporation
- GSK CNC Equipment
- Soft Servo Systems
- Heidenhain GmbH
- Bosch Rexroth AG
- Siemens AG
- Sandvik AB
- Haas Automation
- Mitsubishi Electric Corporation
- FANUC Corporation
Key Market Segmentation:
Breakup by Machine Type:
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
Breakup by End Use Industry:
- Aerospace and Defense
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/kgrt0x
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets