In a recent published report, Kenneth Research has updated the market report for Computer Numerical Control (CNC) Machinery Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Computer Numerical Control (CNC) Machinery Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Highlights of Business Report:
Computer numerical control (CNC) market is expected to expand at a CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the CNC machinery market stood at USD 52 Billion in 2015 and is further expected to be USD 92 Billion by the end of 2024. The demand for the CNC machines are hiked due to the fact that they are time efficient and refrain by human errors. Rising disposable income in emerging economics and need for mass production in various sectors are the key factors for the growth of CNC market.
Computer Numerical Control (CNC) Machinery Market Overview
Computer Numerical Control or CNC is a machine which is comprised by a mini computer that acts as control unit of that machine. In CNC machine, data is directly fed into the mini computer and all the instructions are given by keyboard. The program is stored in the memory of the computer and the operator can write and edit the program according to the requirement. It provides additional pliability and computational facilities. It works according to the program which is fed to it, and all the process is carried out very efficiently and effectively. It works like a robot and hence the accuracy rate for the process is very high. It reduces human errors with less accessibility of tool wear.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Regional Market).”
Market size and forecast
Computer numerical control (CNC) market is expected to expand at a CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the CNC machinery market stood at USD 52 Billion in 2015 and is further expected to be USD 92 Billion by the end of 2024. The demand for the CNC machines are hiked due to the fact that they are time efficient and refrain by human errors. Rising disposable income in emerging economics and need for mass production in various sectors are the key factors for the growth of CNC market. The use of CNC machine helps the operator to make the changes effectively without wasting time or waste of the resource. CNC can be equipped by lathe machine, grinding machine, welding machine, milling machine and others. In 2015, lathe machine tools accounted for the highest revenue by machine type in the global CNC market.
Geographically, the global market for computer numerical control is led by Asia-Pacific, with the region accounting for a share of approximately 35% in 2015. Developing economies such as China and India have been witnessing robust growth in terms of industrialization, thereby driving the growth of regional market. The CNC market in the European region is projected to grow at a significant rate, during the forecast period owing to the rise in adoption of technology. Increased efficiency, time effectiveness, and precision & accuracy provided across metal working industries such as automobile and manufacturing industries is expected to drive the CNC market.
Leading Key Players:
The key players of CNC Machinery market are as follows:
MONDRAGON Corporation (Fagor Automation)
FANUC Corporation
Heidenhain GmbH
Bosch Rexroth AG
Sandvik AB
Mitsubishi Electric Corporation
GSK CNC Equipment
Haas Automation
Siemens AG
Soft Servo Systems
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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Table of Content:
- Executive Summary
- Research Methodology
- Global Market Size (USD Million) and Forecast
- Market Dynamics & Its Impact Analysis
- Global Market Segmentation Analysis
- Porter’s Five Force Model Analysis
- Competitive Landscape
- Company Overview
- Financial Performance
- Key Products
- Business Strategy
- Recent Developments
- SWOT Analysis
WHAT IS THE SCOPE OF THE REPORT WITH IMPACT OF COVID-19?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
WHICH MARKET DYNAMICS AFFECTS THE BUSINESS DURING COVID-19?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
- Key Topic Covered in this Report
- Market Growth Opportunities
- Leading Market Players
- Market Size and Growth Rate
- Market Growth Drivers
- Company Market Share
- Market Trends and Technological Innovations
- Impact Analysis of COVID-19 (CORONA Pandemic) on Global Market
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Download Sample of This Strategic Report-
https://www.kennethresearch.com/sample-request-10075452
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.
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