The global computer numerical control machine market generated USD 57.2 billion in 2017 and is anticipated to grow at a CAGR of 5.8% during the forecast period according to a study published by Polaris Market Research.
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CNC machines are electro-mechanical devices that are used to control machine shop tools through computer programming inputs. CNC machines offer higher flexibility and computational capability.
The different CNC machines include lathe machines, milling machines, drilling machines, plasma cutters, electric-discharge machines, and water jet cutters among others.
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The tools and components of CNC machines include wood routers, foam cutters, laser cutters, glass cutters, 3D printers, wire bending machines, and cylindrical grinders among others.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Computer Numerical Control Machine Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA.
North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe.
Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The demand for computer numerical control machine market has increased in the manufacturing industry over the years owing to increasing industrialization, and rising automation in manufacturing. The increasing awareness regarding use of energy efficient computer numerical control machines has resulted in market growth.
Growing demand from various sectors owing to greater accuracy and precision, time efficiency, and reduced human errors is expected to supplement the growth of the market. Rising demand from emerging economies and technological advancements support the growth of the Computer Numerical Control Machine market.
The Asia-Pacific Computer Numerical Control Machine Market generated the highest revenue in 2017, owing to increasing demand from emerging industries such as healthcare, automotive, construction, electronics, and manufacturing. Growing industrialization along with rising need for automation has resulted in increasing adoption of computer numerical control machines in the region.
Introduction of technologically advanced computer numerical control machines by market players in the region and significant growth in the manufacturing sector boost the adoption of computer numerical control machine market.
Competitive Landscape and Key Vendors
The global computer numerical control machines market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market.
With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach.
Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
Complete Report is Available at www.polarismarketresearch.com/indu…l-Machine-Market/
Major Key Player: -
Mitsubishi Electric Corporation
GSK CNC Equipment Co. LTD
Amada Machine Tools Co., Ltd.
Haas Automation, Inc.
DMG Mori Co., Ltd.
Bosch Rexroth AG
Soft Servo Systems, Inc.
Yamazaki Mazak Corporation.
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