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CNC Machines Market Size Worth $100.9 Billion by 2025 | CAGR: 6.8%: Grand View Research, Inc.
SAN FRANCISCO, February 12, 2018 /PRNewswire/ --
The global CNC machines market size is anticipated to reach USD 100.9 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 6.8% over the forecast period. Increasing need for reducing operating costs, manpower, and errors in components is likely to stoke the growth of the market.
Technological advancements are driving the use of CNC machines in development of highly intricate models/components with a definitive finish. This has subsequently led to a rise in implementation of CNC technology in lathe, milling, laser, grinding, and welding machines. Integration of CNC machines with computer-aided manufacturing (CAM) helps in reducing the time required for manufacturing of work pieces and enables hassle-free production of components.
Commercial demand for advanced, compact-sized CNC machines with automatic tool changers and multi axis machining technology is on a rise. Several large manufacturing units and plants are increasingly adopting CNC lathes to perform operations such as cutting, drilling, knurling, deformation, facing, and turning operations.
Various milling tools such as Poly Crystalline Diamond (PCD) tools and solid carbide tools are being introduced in the market. These tools offer increased efficiency and versatility while performing operations at the shop floor. These new tools also offer durability, resistance toward high temperatures, and enable better machining with reduction in vibrations, wear, and noise.
Browse full research report with TOC on "Computer Numerical Control (CNC) Machine Market Size & Share Report By Type (Lathe, Milling, Laser, Grinding, Welding, Winding), By End Use (Industrial, Power & Energy, Automotive, Aerospace & Defense), And Segment Forecasts, 2014 - 2025" at: https://www.grandviewresearch.com/industry-analysis/computer-numerical-controls-cnc-market
Further Key Findings From the Report Suggest:
- The global CNC machines market is anticipated to expand at a CAGR of 6.8% over the forecast period, owing to reduction in cycle time, reduced wastage, and increased efficiency
- The lathe machines segment held the leading share of over 27% in 2016. The growth of the segment can be attributed to availability of 5-axis operation machinery that increases flexibility, reduces operation time, and avoids collision
- The milling machines segment is estimated to post the highest CAGR of 9.5% during the forecast period, owing to features such as multi-functionality and reduced time requirement
- The industrial segment is poised to dominate the market until 2025 and reach a valuation of USD 25.17 billion
- The Asia Pacific region is projected to witness significant growth over the forecast period, owing to increasing number of manufacturing units
- Key participants in the market are Amada Co., Ltd.; DMTG Corporation; Haas Automation, Inc.; Okuma Corporation; and Yamazaki Mazak Corporation, among several others.
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Grand View Research has segmented the global CNC machines market based on type, end use, and region:
- CNC Machines Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
- CNC Machines End-use Outlook (Revenue, USD Billion, 2014 - 2025)
- Aerospace & Defense
- Construction Equipment
- Power & Energy
- CNC Machines Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/technology
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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