This report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
As per Wise Guy Report, Computer Number Control (CNC) is the automated control of numerous machines, tools, and equipment and 3D printers through the implementation of computer devices. The execution of machine components on any other mechanical part is fully automatic in modern CNC systems. Due to their cutting-edge advantages, such as precision, timely delivery of performance and significant cost savings, CNC machines have gained unparalleled importance.
The segment of CNC machines holds the major market share of the machine tool market and is expected to grow further in the future due to the growing demand of productivity improvements and product innovation from manufacturing companies. Growth in the manufacturing sector has led specifically for the increasingly sophisticated CNC machines to a rapid increase in demand. Machine tool automation leads to increased productivity, time savings, and human error elimination.
According to the report, Compact in size, the new age CAD / CAM CNC machines are equipped with automatic tool changes along with multi-axis machining technology and can use a single machine to perform the entire machining process. Multifunctionality in use is one driver on the market. Industrial growth has prompted manufacturers, especially in the automotive sector, to keep up with consumer demand by increasing productivity and reducing process time.
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The global market for CNC machines is primarily fragmented by type and application. The CNC machine market is classified by type into CNC lathe, CNC milling, CNC grinding machine, CNC welding machine and CNC winding machine. The most sought-after CNC machines are CNC lathes, as they are multi-purpose in nature and are used in a wide range of applications. The CNC machine market includes production of machinery, automobiles, electronics, healthcare, and aerospace and defense by application. In the current scenario, the machine manufacturing segment dominates the CNC machine market. The increasing demand in the industrial sector for automated manufacturing is likely to increase the deployment of a CNC machine.
Due to the increase in the number of metal cutting process industries across the region, Asia Pacific is expected to dominate the global machine tool market. The region is home to most of the leading manufacturers of machine tools and is expected to dominate the market. China is one of the biggest machine tool consumers and drives the Asia Pacific market. Globally, the CNC machine market. Due to the presence of large industries and manufacturing sectors and a growing number of government initiatives to support the machine tool industry, China, Japan and India are expected to dominate this regional market.
Users of the primary industry such as automotive, aerospace and defense, rail, capital goods, and consumer-sustainable sectors are in high demand for machine tools. The automotive industry is embracing the integration of technologies such as AI, IOT, robotics, etc. that will serve end-user requirements. Major efforts are being made to upgrade engine technologies to meet the mandates for fuel efficiency and the global NCAP rating. This will add to the existing machining solutions re-tooling. Growth across the globe in various vehicle segments is expected to drive demand for machine tools.
The major manufacturers covered in this report
Qiqihar Heavy CNC Equipment
Mitsubishi Heavy Industries
Jinan First Machine Tool
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Release ID: 88927049