The increased demand for these machines has led to manufacturers producing more technologically evolved products and machine tools. In terms of consumption, Asia and Europe are expected to be the trend setters for this market.
The global Computer Numerical Control (CNC) machines market is expected to reach 100.9 billion dollars by 2025, rising at a compound annual growth rate (CAGR) of 6.8 % over the forecast period, according to a recent report by business consulting firm Grand View Research. The rise of this growth will be owing to the increased demand of automation for mass production in the manufacturing industry across the world.
Automation of machine tools leads to enhanced productivity, time savings and elimination of human errors. Some of the major players dominating the global CNC market include Amada Co., DMTG Corporation, Haas Automation, Okuma Corporation, Yamazaki Mazak Corporation, and many others.
Regions impacting the CNC machine market
Experts have predicted that the purchase of CNC machines will increase in the Asian region i.e. in countries including China, Japan, and India in the near future due to the rise of manufacturing. The respective governments have also framed ‘industry-friendly’ policies to boost the manufacturing industry. Europe will also gain traction of machines due to its strong automobile industry and this will be followed by America and the rest of the world.
CNC market scenario
Currently, numerous industries are making use of technologically advanced CNC machines for carrying out manufacturing operations such as cutting, drilling, knurling, deformation, facing, and turning. The new age CAD CAM – CNC machines are compact in size and are equipped with automatic tool changers along with multi-axis machining technology such as the introduction of 6 axis machines through which the entire machining process is carried out within a single machine. This feature prevents batch queuing and is facilitating lean manufacturing.
With the emergence of advanced CNC machines, manufacturers have also evolved the machine tools segment in the form of new milling and cutting tools such as Poly Crystalline Diamond (PCD) tools and solid carbide tools that 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.
The CNC machine market is on a growth wave and with the support of the right innovations it can even be expected to fly higher!