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U.s. Cnc Machines Market

U.S. CNC Machines Market by Machine Tool Type (Lathe, Mills, Routers, Grinders, and Others) and Industry Vertical (Aerospace & Defense, Automobile, Consumer Electronics, Healthcare, Industrial Machinery, and Others): Opportunity Analysis and Industry Forecast, 2021-2030

A13061
Pages: 157
Aug 2021 | 350 Views
   
Author(s) : Rachita Rake & Shreyas Wadodkar , Vineet Kumar
Tables: 69
Charts: 46
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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U.S. CNC Machines Market Statistics: 2030

The U.S. CNC machines market size was valued at $2,314.11 million in 2015, and is projected to reach $4,009.59 million by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

Computer numeric control is observing growing popularity and attention of researchers in both industry and academia as a means to decrease human contact between man and machine and produce the revenue streams for service providers due to the features in technology. During the COVID-19 pandemic, organizations that deployed computer numeric control earlier have been able to quickly adjust to the new variant of virus due to lesser contact between the human and machine that will help to achieve business requirements that were resulting due to advancement in healthcare industry.

The report comprises the U.S. CNC machines market trends and study of the U.S. CNC machines market forecast focuses on diversified applications of CNC machines across industries. There has been a surge in demand for CNC machines across all the industry verticals, owing to their time effective operations in mass production industries such as automobile. Furthermore, CNC provides enhanced safety & security during production operations, controls data traffic, improves process quality, and reduces time between design & production. In addition, CNC provides advanced protection with its intelligence software and hardware interface to workforce in risky work environments such as mining and manufacturing plants. 

U.S. Computer Numeric Control Market

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By machining tool type, the lathes segment dominated the U.S. CNC market share in 2015, and is expected to continue this trend during the forecast period. The growth of the segment is attributed to pro-long adoption of lathe machine tool as this system is used to perform various operations such as turning, drilling, and tapering, which boosts the CNC market in the U.S. However, the milling tool segment is expected to witness highest growth in the upcoming years as it is used to perform vertical as well as horizontal operation on the workpiece or component. Milling machine is used to perform operations such as boring, vertical drilling, metal cutting, and slotting. Milling tool is widely used in the automated and robotic controlled operation during the manufacturing process. These benefits are expected to fuel the demand in the upcoming years.

On the basis of industry vertical, the industry machinery segment dominated the overall U.S. computer numeric control market in 2015, and is expected to continue this trend during the forecast period. This is attributed to increase the use of automatic industrial machinery in the manufacturing process. In addition, industries are shifting their working toward computer aided manufacturing process, this is one of the major factors which is anticipated to boost the CNC market growth in the U.S. However, the automobile segment is expected to witness highest growth in the upcoming years as there has been an increase in the adoption of CNC machine among the key automobile vehicle manufacturer and its key vendors due to its capability to perform intricate operation. These benefits will create lucrative opportunity the computer numeric control market during forecast period. 

The report includes the study of the computer numerical control market focusing on various growth prospects and restraints in the market based on regional analysis. The study highlights Porter’s five forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market. Furthermore, the study depicts the value chain analysis for the computer numerical control market.

Key players profiled in the U.S. CNC machines market include Bosch Rexroth AG, Dalian Machine Tool Group Corporation (DMTG), Fagor Automation, FANUC Corporation, GSK CNC equipment co. Ltd, HAAS Automation, Inc., Heidenhain Corporation, Hurco Companies, Inc., Mitsubishi Electric Corporation, Okuma Corporation, Sandvik AB, and Soft Servo Systems Inc.

Segment review

The U.S. computer numerical control market is segmented into machine tool type and industry vertical. By machine tool type, the market is categorized into lathe, mills, routers, grinders, and others. By industry vertical, it is segregated into aerospace & defense, automobile, consumer electronics, healthcare, industrial machinery, and others (metal & mining and transportation). 

U.S. CNC Machines Market
By Machine Tool Type

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Mills segment is projected as one of the most lucrative segments.

Impact of COVID-19 on the U.S. CNC Machines Market Share

According to U.S. CNC Machines Market Analysis Post COVID-19, the U.S. CNC machines industry size was valued at $2,314.11 million in 2015, and is projected to reach $4,009.59 million by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

The pandemic has caused recession in the economy that has forced various enterprises across the globe to dramatically and rapidly shift their operations. The industries around the globe are being severely affected by the COVID-19-induced recession; however, the impact on the technology sector during the crisis was comparatively lesser than the rest of the economy. The rundown of events encouraging the proliferation of new-age technologies, such as artificial intelligence and internet of things has increased.

The computer numeric control market trends is observing growing popularity and attention of researchers in both industry and academia as a means to decrease human contact between machine & operator and produce the revenue streams for service providers due to the features in technology. During the COVID-19 pandemic, organizations that deployed computer numeric control earlier have been able to quickly adjust to the new variant of virus due to lesser contact between the human and machine that will help to achieve business requirements that were resulting due to advancement in healthcare industry. Computer numeric control help organizations cope with the ongoing pandemic and maintain economically positive operations. This will creative opportunity in U.S. CNC machines industry.

U.S. CNC Machines Market
By Industry Vertical

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Automotive segment is projected as one of the highest growing Industry Vertical.

Top impacting factors    

Numerous factors which are responsible for U.S. CNC machines market growth such as increase in demand in mass production plants and rise in need for precision & time effectiveness drive the growth of the computer numeric control market in the U.S. However, high cost of CNC machines and stringent government regulation regarding manufacturing processes in the U.S. restrain the growth of the market in the country. Furthermore, increased focus on the technological advancements such as artificial intelligence and robotics and increase in application areas of computer numeric control market are projected to create lucrative opportunities in the U.S. market.

Increase in demand in mass production plants in the U.S.

CNC solutions have been increasingly deployed in mass production plants, owing to their ability of manufacturing high precision parts and components. Moreover, the diversified range to techniques such as CAD and CAM used in CNC to produce standardized parts through machine tools are completely interchangeable. Furthermore, the application of CNC in the manufacturing plants has a direct impact on cost reduction along with substantial increase in productivity and quality of the final product. Thus, all above mentioned capabilities of CNC influence the growth of the industry verticals such as automobile and aerospace & defense and creates lucrative U.S. CNC machines market opportunity. 

Key Benefits For Stakeholders

  •  US The study provides an in-depth analysis of the U.S. CNC machines market along with the current trends and future estimations to elucidate the imminent investment pockets.
  •  US Information about key drivers, restrains, and opportunities and their impact analysis on the U.S. CNC machines market size is provided in the report.
  •  US Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  •  US The quantitative analysis of the U.S. CNC machines market for the period 2015–2030 is provided to determine the market potential.

Key Market Segments

By Machine Tool Type

  •  US Lathes
  •  US Mills
  •  US Routers
  •  US Grinders
  •  US Others

By Industry Vertical

  •  US Aerospace & Defense
  •  US Automobile
  •  US Electronics
  •  US Healthcare
  •  US Industry Machinery
  •  US Others

Key Market Players 

  • Bosch Rexroth AG
  • Dalian Machine Tool Group Corporation (DMTG)
  • Fagor Automation
  • FANUC Corporation
  • GSK CNC EQUIPMENT CO. LTD
  • HAAS Automation Inc
  • Heidenhain Corporation
  • Hurco Companies Inc
  • Mitsubishi Electric Corporation
  • Okuma Corporation
  • Sandvik AB
  • Soft Servo Systems Inc
 

CHAPTER 1:INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.RESEARCH METHODOLOGY

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.KEY FINDINGS

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO PERSPECTIVE

CHAPTER 3:MARKET OVERVIEW

3.1.MARKET DEFINITION AND SCOPE
3.2.PORTER’S FIVE FORCES ANALYSIS
3.3.VALUE CHAIN ANALYSIS
3.4.CASE STUDIES

3.4.1.Case study 

3.5.MARKET EVOLUTION/INDUSTRY ROADMAP
3.6.IMPACT OF GOVERNMENT REGULATIONS 
3.7.COVID-19 IMPACT ANALYSIS ON THE U.S. COMPUTER NUMERIC CONTROL MARKET

3.7.1.Impact on market size
3.7.2.Consumer trends, preferences, and budget impact
3.7.3.Economic impact
3.7.4.Strategies to tackle negative impact
3.7.5.Opportunity window

3.8.MARKET DYNAMICS

3.8.1.Drivers.

3.8.1.1.Increase in need for precision and time effectiveness
3.8.1.2.Increase in demand in mass production plants

3.8.2.Restraints

3.8.2.1.High cost of CNC machines

3.8.3.Opportunity

3.8.3.1.Increase in application areas
3.8.3.2.Increase in use of robotics and automation in manufacturing industry

CHAPTER 4:U.S. CNC MACHINE MARKET, BY MACHINE TOOL TYPE

4.1.OVERVIEW
4.2.LATHES

4.2.1.Key market trends, growth factors, and opportunities.
4.2.2.Market size and forecast, by region

4.3.MILLS

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast,

4.4.ROUTERS

4.4.1.Key market trends, growth factors, and opportunities.
4.4.2.Market size and forecast,

4.5.GRINDERS

4.5.1.Key market trends, growth factors, and opportunities.
4.5.2.Market size and forecast,

4.6.OTHERS

4.6.1.Key market trends, growth factors, and opportunities.
4.6.2.Market size and forecast,

CHAPTER 5:U.S. CNC MACHINE MARKET, BY INDUSTRY VERTICAL

5.1.OVERVIEW
5.2.AEROSPACE & DEFENSE

5.2.1.Key market trends, growth factors, and opportunities.
5.2.2.Market size and forecast,

5.3.AUTOMOBILE

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast,

5.4.ELECTRONICS

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast,

5.5.HEALTHCARE

5.5.1.Key market trends, growth factors, and opportunities.
5.5.2.Market size and forecast,

5.6.INDUSTRY MACHINERY

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region

5.7.OTHERS

5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast

CHAPTER 6:COMPETITIVE LANDSCAPE

6.1.COMPETITIVE DASHBOARD
6.2.KEY PLAYER POSITIONING
6.3.TOP WINNING STRATEGIES
6.4.KEY DEVELOPMENTS

6.4.1.New product launches
6.4.2.Partnership
6.4.3.Acquisition
6.4.4.Product development
6.4.5.Business expansion

CHAPTER 7:COMPANY PROFILE

7.1.BOSCH REXROTH AG

7.1.1.Company overview
7.1.2.Key executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.R&D expenditure
7.1.7.Business performance
7.1.8.Key strategic moves and developments

7.2.DALIAN MACHINE TOOL CORPORATION

7.2.1.Company overview
7.2.2.Company snapshot
7.2.3.Product portfolio

7.3.FAGOR AUTOMATION

7.3.1.Company overview
7.3.2.Company snapshot
7.3.3.Product portfolio
7.3.4.Business performance
7.3.5.Key strategic moves and developments

7.4.FANUC CORPORATION

7.4.1.Company overview
7.4.2.Key executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.R&D expenditure
7.4.7.Business performance
7.4.8.Key strategic moves and developments

7.5.GSK CNC EQUIPMENT CO. LTD

7.5.1.Company overview
7.5.2.Company snapshot
7.5.3.Product portfolio
7.5.4.Key strategic moves and developments

7.6.HAAS AUTOMATION, INC.

7.6.1.Company overview
7.6.2.Company snapshot
7.6.3.Product portfolio
7.6.4.Key strategic moves and developments

7.7.HEIDENHAIN GMBH

7.7.1.Company overview
7.7.2.Key executives
7.7.3.Company snapshot
7.7.4.Product portfolio
7.7.5.Key strategic moves and developments

7.8.HURCO COMPANIES, INC.

7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Product portfolio
7.8.5.R&D expenditure
7.8.6.Business performance
7.8.7.Key strategic moves and developments

7.9.MITSUBISHI ELECTRIC CORP.

7.9.1.Company overview
7.9.2.Company snapshot
7.9.3.Operating business segments
7.9.4.Product portfolio
7.9.5.R&D expenditure
7.9.6.Business performance
7.9.7.Key strategic moves and developments

7.10.OKUMA CORPORATION

7.10.1.Company overview
7.10.2.Key executives
7.10.3.Company snapshot
7.10.4.Product portfolio
7.10.5.R&D expenditure
7.10.6.Business performance
7.10.7.Key strategic moves and developments

7.11.SANDVIK AB

7.11.1.Company overview
7.11.2.Key executives
7.11.3.Company snapshot
7.11.4.Operating business segments
7.11.5.Product portfolio
7.11.6.R&D expenditure
7.11.7.Business performance
7.11.8.Key strategic moves and developments

7.12.SOFT SERVO SYSTEMS

7.12.1.Company overview
7.12.2.Company snapshot
7.12.3.Product portfolio

LIST OF TABLES

TABLE 01.U.S. CNC MACHINE MARKET REVENUE, BY MACHINE TOOL TYPE, 2015–2022 ($MILLION)
TABLE 02.U.S. CNC MACHINE MARKET REVENUE, BY MACHINE TOOL TYPE, 2023–2030 ($MILLION)
TABLE 03.U.S. CNC MACHINE MARKET REVENUE FOR LATHES, 2015–2021 ($MILLION)
TABLE 04.U.S. CNC MACHINE MARKET REVENUE FOR LATHES, BY REGION, 2022–2030 ($MILLION)
TABLE 05.U.S. CNC MACHINE MARKET REVENUE FOR MILLS, 2015–2021 ($MILLION)
TABLE 06.U.S. CNC MACHINE MARKET REVENUE FOR MILLS, 2022–2030 ($MILLION)
TABLE 07.U.S. CNC MACHINE MARKET REVENUE FOR ROUTERS, 2015–2021 ($MILLION)
TABLE 08.U.S. CNC MACHINE MARKET REVENUE FOR ROUTERS, 2022–2030 ($MILLION)
TABLE 09.U.S. CNC MACHINE MARKET REVENUE FOR GRINDERS, , 2015–2021 ($MILLION)
TABLE 10.U.S. CNC MACHINE MARKET REVENUE FOR GRINDERS, 2022–2030 ($MILLION)
TABLE 11.U.S. CNC MACHINE MARKET REVENUE FOR OTHERS, BY REGION, 2014–2017 ($MILLION)
TABLE 12.U.S. CNC MACHINE MARKET REVENUE FOR OTHERS, BY REGION, 2018–2026 ($MILLION)
TABLE 13.U.S. CNC MACHINE MARKET REVENUE, BY INDUSTRY VERTICAL, 2015–2021 ($MILLION)
TABLE 14.U.S. CNC MACHINE MARKET REVENUE, BY INDUSTRY VERTICAL, 2022–2030 ($MILLION)
TABLE 15.U.S. CNC MACHINE MARKET REVENUE FOR AEROSPACE & DEFENSE, 2015–2021 ($MILLION)
TABLE 16.U.S. CNC MACHINE MARKET REVENUE FOR AEROSPACE & DEFENSE, BY REGION, 2022–2030 ($MILLION)
TABLE 17.U.S. CNC MACHINE MARKET REVENUE FOR AUTOMOBILE, 2015–2021 ($MILLION)
TABLE 18.U.S. CNC MACHINE MARKET REVENUE FOR AUTOMOBILE, 2022–2030 ($MILLION)
TABLE 19.U.S. CNC MACHINE MARKET REVENUE FOR ELECTRONICS, 2015–2021 ($MILLION)
TABLE 20.U.S. CNC MACHINE MARKET REVENUE FOR ELECTRONICS,  2015–2030 ($MILLION)
TABLE 21.U.S. CNC MACHINE MARKET REVENUE FOR HEALTHCARE, 2015–2021 ($MILLION)
TABLE 22.U.S. CNC MACHINE MARKET REVENUE FOR HEALTHCARE, 2022–2030 ($MILLION)
TABLE 23.U.S. CNC MACHINE MARKET REVENUE FOR INDUSTRY MACHINERY,2015–2021 ($MILLION)
TABLE 24.U.S. CNC MACHINE MARKET REVENUE FOR INDUSTRY MACHINERY, 2022–2030 ($MILLION)
TABLE 25.U.S. CNC MACHINE MARKET REVENUE FOR OTHERS, , 2015–2030 ($MILLION)
TABLE 26.U.S. CNC MACHINE MARKET REVENUE FOR OTHERS, , 2015–2030 ($MILLION)
TABLE 27.KEY NEW PRODUCT LAUNCHES (2018-2020)
TABLE 28.PARTNERSHIP (2018-2020)
TABLE 29.ACQUISTION (2018-2020)
TABLE 30.PRODUCT DEVELOPMENT (2018-2020)
TABLE 31.BUSINESS EXPANSIONS (2018-2020)
TABLE 32.BOSCH: KEY EXECUTIVES
TABLE 33.BOSCH: COMPANY SNAPSHOT
TABLE 34.BOSCH: OPERATING SEGMENTS
TABLE 35.BOSCH REXROTH AG: PRODUCT PORTFOLIO
TABLE 36.BOSCH REXROTH AG: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 37.DALIAN MACHINE TOOL CORPORATION.: COMPANY SNAPSHOT
TABLE 38.DALIAN MACHINE TOOL CORPORATION: PRODUCT PORTFOLIO
TABLE 39.MONDRAGON: COMPANY SNAPSHOT
TABLE 40.FAGOR AUTOMATION: PRODUCT PORTFOLIO
TABLE 41.FAGOR AUTOMATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 42.FANUC CORPORATION: KEY EXECUTIVES
TABLE 43.FANUC CORPORATION: COMPANY SNAPSHOT
TABLE 44.FANUC CORPORATION: PRODUCT PORTFOLIO
TABLE 45.FANUC CORPORATION: PRODUCT PORTFOLIO
TABLE 46.GSK CNC EQUIPMENT CO., LTD.: COMPANY SNAPSHOT
TABLE 47.GSK CNC EQUIPMENT CO.,LTD.: PRODUCT PORTFOLIO
TABLE 48.HAAS AUTOMATION: COMPANY SNAPSHOT
TABLE 49.HAAS AUTOMATION: PRODUCT PORTFOLIO
TABLE 50.HAAS AUTOMATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 51.HEIDENHAIN GMBH: KEY EXECUTIVES
TABLE 52.HEIDENHAIN GMBH: COMPANY SNAPSHOT
TABLE 53.HEIDENHAIN GMBH: PRODUCT PORTFOLIO
TABLE 54.HURCO: KEY EXECUTIVES
TABLE 55.HURCO: COMPANY SNAPSHOT
TABLE 56.HURCO: PRODUCT PORTFOLIO
TABLE 57.MITSUBISHI: COMPANY SNAPSHOT
TABLE 58.MITSUBISHI: OPERATING SEGMENTS
TABLE 59.MITSUBISHI: PRODUCT PORTFOLIO
TABLE 60.MITSUBISHI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 61.OKUMA: KEY EXECUTIVES
TABLE 62.OKUMA: COMPANY SNAPSHOT
TABLE 63.OKUMA: PRODUCT PORTFOLIO
TABLE 64.KEY EXECUTIVES
TABLE 65.SANDVIK AB: COMPANY SNAPSHOT
TABLE 66.SANDVIK AB: OPERATING SEGMENTS
TABLE 67.SANDVIK AB: PRODUCT PORTFOLIO
TABLE 68.SOFT SERVO SYSTEMS, INC.: COMPANY SNAPSHOT
TABLE 69.SOFT SERVO SYSTEMS, INC.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.U.S. CNC MACHINE MARKET, 2015–2030
FIGURE 03.U.S. CNC MACHINE MARKET, 2015-2030
FIGURE 04.TOP IMPACTING FACTORS
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 07.LOW-TO-MODERATE BARGAINING POWER OF BUYERS
FIGURE 08.LOW-TO-MODERATE THREAT OF SUBSTITUTES
FIGURE 09.MODERATE-TO-HIGH THREAT OF NEW ENTRANTS
FIGURE 10.LOW-TO-HIGH COMPETITIVE RIVALRY
FIGURE 11.VALUE CHAIN ANALYSIS
FIGURE 12.MARKET EVOLUTION/INDUSTRY ROADMAP
FIGURE 13.U.S. CNC MACHINE MARKET REVENUE, BY MACHINE TOOL TYPE, 2015–2030($MILLION)
FIGURE 14.U.S. CNC MACHINE MARKET REVENUE, BY INDUSTRY VERTICAL, 2015–2030($MILLION)
FIGURE 15.COMPETITIVE DASHBOARD
FIGURE 16.COMPETITIVE DASHBOARD
FIGURE 17.PRODUCT HEATMAP
FIGURE 18.U.S. U.S. CNC MACHINE MARKET: KEY PLAYER POSITIONING
FIGURE 19.TOP WINNING STRATEGIES, BY YEAR, 2018-2020
FIGURE 20.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018-2020
FIGURE 21.TOP WINNING STRATEGIES, BY COMPANY, 2018-2020
FIGURE 22.BOSCH: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 23.BOSCH: REVENUE, 2016–2018 ($MILLION)
FIGURE 24.BOSCH: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 25.BOSCH: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 26.MONDRAGON: NET SALES, 2018–2019 ($MILLION)
FIGURE 27.FANUC CORPORATION: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 28.FANUC CORPORATION: REVENUE, 2018–2020 ($MILLION)
FIGURE 29.FANUC CORPORATION: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 30.FANUC CORPORATION: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 31.HURCO: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 32.HURCO: REVENUE, 2018–2020 ($MILLION)
FIGURE 33.HURCO: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 34.HURCO: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 35.MITSUBISHI: R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 36.MITSUBISHI: NET SALES, 2018–2020 ($MILLION)
FIGURE 37.MITSUBISHI: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 38.MITSUBISHI: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 39.OKUMA: R&D EXPENDITURE, 2018–2021 ($MILLION)
FIGURE 40.OKUMA: REVENUE, 2018–2020 ($MILLION)
FIGURE 41.OKUMA: REVENUE SHARE BY PRODUCT CATEGORY, 2020 (%)
FIGURE 42.OKUMA: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 43.R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 44.SANDVIK AB: REVENUE, 2019–2020 ($MILLION)
FIGURE 45.SANDVIK AB: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 46.SANDVIK AB: REVENUE SHARE BY REGION, 2020 (%)

 
 

The computer numerical control market possesses high growth potential in the manufacturing industry. The current business scenario has witnessed an increase in the adoption of CNC machines in developed and developing regions. The companies adopt efficient techniques, such as integrating automation for CNC machines, in an effort to provide customers with advanced and innovated product offerings. Furthermore, according to industry experts, factory shops can reduce labor hour per machine by up to 75% with an effective automation solution.

Among the industry verticals, industrial machinery accounted for the largest revenue share in 2015, due to increase in demand in mass production plants. U.S. exhibited the highest adoption of CNC due to the presence of number of manufacturing facilities and key vendors, which is expected to grow at a faster pace, predicting a lucrative market growth for the CNC in the U.K.

The CNC companies are focusing on leveraging new technologies such as robotics and AI for offering intelligent manufacture services to cope with the growing requirements of customer. Key players have adopted various growth strategies to enhance and develop their product portfolio, garner maximum market share, and increase their market penetration. Thus, the market is witnessing new product launches and increasing adoption of computer numeric control by leading players. For instance, in December 2020, Sandvik AB which is a global leader in the provider of CNC solution acquired U.S. based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification, and optimization. By the acquisition CGTech will be part of Sandvik Machining Solutions' division Sandvik Coromant, within the business area Sandvik Manufacturing and Machining Solutions. This will provide better service to customers based in the U.S.

In the U.S., the top key players are focusing on the training and awareness program of industrial worker and engineers for effective use of computer numeric control machine. For instance, in April 2021 FANUC America which is leading factory automation service provider partnered with Doosan Machine Tools America, a leading provider of CNC machine tools, by this partnership Doosan Machine Tools provide FANUC certified computer numeric control training to improve workers skills.

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Featured Reports

 

Erythropoietin Drugs Market

Global Opportunity Analysis and Industry Forecast, 2021–2028

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Protein Therapeutics Market

Global Opportunity Analysis and Industry Forecast, 2017-2023

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Surgical Equipment Market

Global Opportunity Analysis and Industry Forecast, 2020-2027

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Medical Implant Market

Global Opportunity Analysis and Industry Forecast, 2020–2027

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