New York, U.S., April 28, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to comprehensive research report by Market Research Future (MRFR), the “CNC Cutting Machine Market” by Type, By Product, By End-User, By Application, By Region – Forecast to 2027” market to reach USD 6,153.2 million, growing at a compound annual growth rate of 6.1% by 2027.
The outlook for the CNC cutting machine market looks extremely promising. Rapidly growing tool manufacturing sectors and adoption of Industry 4.0 in heavy industries across the globe are driving the market. The CNC cutting machine industry has always been subject to technological developments. Growing adoption is expected to meet customer demands for efficiencies.
Manufacturing sectors around the world are increasing market demand, adopting automation and advanced software solutions to meet customer machining needs. In addition, the shortage of skilled labor, working hour limits and labor costs are on the rise. Additionally, the growing needs for quality control and tolerances are encouraging manufacturing companies to add automation to their factories.
Even during the COVID-19 crisis, CNC cutting machine market revenue remained reassuringly robust. The dynamic and ever-changing market for CNC cutting machines has seen a surge faster than ever. Likewise, agility to respond to market changes has become more important than in the post-pandemic era.
The pandemic-related lockdown challenges have fostered many CNC cutting machine market trends in production, robotics, networked machines and analytics, entering a particularly exciting new era. Additionally, there is vast demand that would enable the CNC cutting machine market to grow steadily over the next five years.
The Dominant Key Players in the CNC Cutting Machine Market Covered are:
- Biesse Group (Italy)
- HOMAG Group (Germany)
- Anderson Group (Taiwan)
- Exel CNC Ltd (UK)
- MultiCam Inc. (USA)
- Thermwood Corporation (USA)
- The Shoda Company (Japan)
- ShopSaber (US)
- AXYZ Automation Group (Canada)
- Carbide 3D LLC (USA)
- KOMO Machine Inc. (USA)
- TRUMPF (Germany)
- ESAB (Sweden)
- Prima Power (Italy)
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Exclusively encompassed USP market:
CNC machines integrated with computer-aided manufacturing (CAM) enable hassle-free production of components and reduced operational time and costs. Large manufacturing facilities are increasingly implementing CNC lathes for their cutting and knurling needs.
Growing business demand for advanced machines in compact size with automatic tool changers and multi-axis machining technology is increasing the size of the market. Additionally, rapid advancements in production technologies and emerging needs for smaller factory footprints driven by lack of space are increasing the market revenue.
The demand for cutting machines that are modern, compact and do not require operators/supervisors to monitor machine operations, is constantly increasing. Additionally, the increasing pressure from manufacturers to reduce time, manual labor and operating costs while increasing the capacity to produce components justifies the market value.
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Despite the promising outlook, the CNC cutting machine market is still witnessing several challenges related to machining services and various strategies. Some of the issues restraining the growth of the market include difficulties in data processing and programming errors due to complex structure, high purchase and repair costs, complexity in material selection, overheating and improper machine settings and communication problems.
There is a huge market for advanced cutting tools and competitive geometries. Most industry players cater to market needs with their technical expertise and industry experience. Updates to tool simulation and 3D and CAD-CAM technologies and the ability to produce small batch sizes provide increased flexibility, particularly relevant to the die and mold industry.
Almost every industry requires custom CNC cutting machining for precise CNC parts that are sometimes complex to produce using traditional methods. Growing demand for CNC cutting machining in industries such as aerospace, automotive, building, and construction is driving the growth of the market.
Market Segmentation Covered by Research:
The CNC Cutting Machines market report is segmented into type, product, application, end-user, and region. The Type segment includes Mobile Gantry and Fixed Gantry types. The product segment includes plasma, laser, water jet and router. The application segment includes woodworking, stoneworking and metalworking.
The end-user segment includes automotive, building & construction, consumer, electronics, aerospace & defense, medical, energy & power, furniture, transportation and others. The regional segment includes America, Asia Pacific, Middle East & Africa, Europe and Rest of the World.
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The Asia-Pacific region dominates the global CNC cutting machine market. Significant raw material advantage and availability of competitively priced labor are the major factors impacting the market growth in the region. Growing adoption of these machines, rising automation in manufacturing sectors and rapid industrialization in this region are driving the market demand.
North America holds the second best position in the global CNC cutting machine market. Vast technological advancements and automation in manufacturing sectors increase market value. Moreover, the high demand for products from thriving manufacturing sectors justifies the market revenue in this region. Additionally, the growing application areas and integration of CNC cutting machines with the current manufacturing environment is propelling the growth of the regional market.
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The CNC cutting machine market would experience various strategic approaches, such as collaboration, expansion, mergers and acquisitions, and integration of advanced technologies. Major industry players are making strategic investments to boost research and development activities and further their expansion plans. The market is expected to witness several product launches.
For example, recently on January 14, 2022, NUM launched a unique 2D drawing tool – NUMcad which can simplify the design and creation of executable G-code files for CNC cutting machines. This very intuitive drawing software simplifies the design of 2D trajectories for users of CNC cutting machines.
NUMcad works directly from the operator panel of the machine as well as under Windows and on any standard PC. Its user interface mimics popular CAD packages, intuitively suitable for design origination and modification, making it ideal for people with minimal or no design experience.
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