Growth in Automotive Manufacturing in Asia Pacific to Spur Strides in Computer Numerical Controls (CNC) Market, Global Valuation to Climb to US$ 115.1 Bn by 2027, Projects TMR

Growth in Automotive Manufacturing in Asia Pacific to Spur Strides in Computer Numerical Controls (CNC) Market, Global Valuation to Climb to US$ 115.1 Bn by 2027, Projects TMR

PR Newswire

ALBANY, New York, June 16, 2020

ALBANY, New York, June 16, 2020 /PRNewswire/ -- Deployment of computer numerical controls (CNC) technologies has reduced production times and human errors and increased precision of numerous complex industrial machinery such as lathes and milling machines. Technologies in the CNC market have been key enabler for automation in industrial machinery in manufacturing sectors.

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The global computer numerical controls market stood at US$ 64.0 bn in 2018 and is projected to climb to revenues to ~US$ 115.1 bn by 2027. The market is expected to clock a CAGR of 6.7% during 2019–2027.

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Key Findings of Computer Numerical Controls (CNC) Market Report

Explore 127 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Computer Numerical Controls (CNC) Market (Types - Lathe Machines, Milling Machines, Lasers, Grinding Units, Welding Machines, and Winding Machines; Application - Automotive, Industrial, Power & Energy, and Defense & Aerospace) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/computer-numerical-controls.html

Computer Numerical Controls (CNC) Market: Key Driving Factors and Promising Avenues

Some of the key growth dynamics in the CNC market are:

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Key Impediments for Computer Numerical Controls (CNC) Market Players

Despite the attractive potential of CNC in industrial automation, such technologies require substantial investment. The maintenance and servicing is also cost-intensive, resulting in small-scale enterprises to avoid the adoption. All these are proving to significantly constrain the growth of the CNC market.

On the other hand, the incredible drive for efficiency gains is a key business proposition for the rise in demand in the CNC market.

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Global Computer Numerical Controls (CNC) Market: Regional Landscape

Owing to rapid uptake of industrial automation systems in parts of North America, opportunities in the regional market have seemingly matured.

Meanwhile, Asia Pacific has witnessed the rise of several new avenues for various manufacturing sectors to use CNC for the control of heavy industrial machinery. Also, the drive for reducing the carbon footprint of economies has gravitated manufacturing industries to increasingly adopt automation for operating their machinery. These have also in recent years set their sights on Asia Pacific due to the gains of low cost of production.

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The global computer numerical controls (CNC) market can be segmented as follows:

By Type  

By Application    

By Region

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