U.S (New York) – New research study titled “Computer Numerical Control Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Computer Numerical Control (CNC) machines are the fully-automated and sophisticated solution for metal working tools controlled by computers. These machines are the asset of machine tools industry owing to the profit gained by its application in the end-user industry verticals such as automobile and manufacturing. The abilities of CNC machine provide increased productivity and enhanced precision and accuracy. OTHER MARKET PLAYERS MENTIONED IN THE REPORT: Protomatic, AMS Micromedical, Plastic Navigation Industrial, Okuma, Hurco, Star CNC, Xometry, Ace Micromatic, Star Prototype, Intelitek, T W Ward CNC Machinery, and EMAG GmbH.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Software languages such as computer-aided design (CAD), computer-aided manufacturing (CAM), and vector mainly control the operations of CNC machines. The presence of these software programs enables the CNC machine to be operated in mass production industries with highly precise and accurate ratings. Increased productivity, time effectiveness, and precision & accuracy provided across metal working industries such as automobile and manufacturing industries drive the CNC market. However, high cost of CNC machines and need of highly skilled professionals to deal with the software interface could hinder the growth of the market.
The CNC market is segmented by machine tool type, industry vertical, and geography. The various machine tool types are segmented into lathe, Mills, routers, Grinders, and others (plasma cutters, drill press, electric discharge machining, welding, and winding machines), whereas the range of industry verticals are categorized into aerospace & defense, automobile, consumer electronics, healthcare, industrial machinery, and others (metal & mining and transportation). Geographically, the market is divided into North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS
The study provides an in-depth analysis of the CNC market along with current and future trends to elucidate the imminent investment pockets.
Information regarding key drivers, restraints, and opportunities along with their impact analysis on the CNC market is discussed.
Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the CNC market.
The value chain analysis of the CNC market signifies the key intermediaries involved, and elaborates their roles & value additions at every stage.
The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.
KEY MARKET PLAYERS PROFILED IN THE REPORT
MONDRAGON Corporation (Fagor Automation)
GSK CNC Equipment
Soft Servo Systems
Dr. Johannes Heidenhain GmbH
Bosch Rexroth AG
Siemens AG
Sandvik AB
Haas Automation
Mitsubishi Electric Corporation
FANUC Corporation
KEY MARKET SEGMENTS
The CNC market is segmented based on machine tool type, industry vertical, and geography.
BY MACHINE TOOL TYPE
Lathes
Mills
Routers
Grinders
Others (Plasma cutters, Drill press, electric discharge machining, welding and winding machines)
BY INDUSTRY VERTICAL
Aerospace and defense
Automobile
Electronics
Healthcare
Industrial machinery
Others (consumer goods, metal and mining, and transportation)
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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