CNC machine tools are mainly used to cut or move materials as programmed on the controller; here automated controller plays a vital role. The types of cutting tools available in the market include plasma cutting, laser cutting, milling, routing and others. The computer numerical control (CNC) machine tools market is projected to grow at a promising rate in the upcoming years. CNC is a low-cost and safe option, and hence there is an increased demand for CNC machine tools from varied application segments. This is estimated to boost the growth of the CNC machine tools market during the forecast period.
Market Scope and Structure Analysis
In the modern era, computer numerical control (CNC) systems are used to execute both design and manufacturing of machine components on any other mechanical part, which is automatic.
The increase in demand for CNC machine tools is because of its cutting-edge advantage, precision, just-in-time factor, and cost-saving factor. Software like CAD, CAM is incorporated in the automated CNC machine for fast processing in the manufacturing end. In addition, the market for CNC machine tools is experiencing exponential growth in India and China over the past few years, due to growth of manufacturing activities.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down a large number of construction sites, power plants, chemical storage industry, technology advancement companies, and others. This has hampered the growth of the CNC machine tools market in the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of CNC machine tools in the first quarter of 2021 and is anticipated to weaken the market growth throughout the year.
- The major demand for CNC machine tools was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the pandemic, thereby declining the demand for services for CNC machine tools.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Key players of the CNC machine tools market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- CNC machine tools market is expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Primary industries like automotive, aerospace, defense, railways, and other sectors have a high demand for CNC machine tools. The industries adopted integrated technology like IoT and AI in machine tools for more accuracy in the finished products. This is one of the main drivers of the market.
The most important barrier to the market growth of CNC machine tools is the lack of awareness for using the advanced machine tools, because of these reasons many developing regions of South America and Africa is still behind in the market growth.
- FAST RADIUS introduced new CNC machine tools. Unlike traditional CNC machine tools, which include a moving bed, a 3-axis milling center remains still as the cutter itself moves. Typically, with a 3-axis machine, the bed moves linearly along two axes while the spindle translates up and down along the third axis. The 4-axis machines enable more detailed cutting by incorporating a rotational axis.
- HWACHEON introduced new CNC machine tools which meet the production needs of High Mix – Low Volume mode with quick turnarounds of various parts and machine settings. It offers an unmatched solution with its ø600mm 2-Axis table, 4+1 to full 5-Axis and 4 selectable spindles (option).
Key Benefits of the Report
- This study presents the analytical depiction of the CNC machine tools making industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the CNC machine tools market share.
- The current market is quantitatively analyzed to highlight the CNC machine tools market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed CNC machine tools market analysis based on competitive intensity and how the competition will take shape in coming years.
CNC Machine Tools Market Report Highlights
By Product Type
By Industry Type
Key Market Players
Datron AG, DMG Mori, Haas Automation Inc., Shenyang Machine Tool Co. Ltd. (SMTCL), Amera Seiki, Fanuc Corporation, Amada Co. Ltd., Dalian Machine Tool Group (DMTG) Corporation, Okuma Corporation, Hurco Companies Inc.,