The new report by Expert Market Research titled, ‘Europe CNC Machine Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives in-depth analysis of the Europe CNC machine market, assessing the market based on its segments like types, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028):
• Historical Market Size (2020): USD 21.3 Billion
• Forecast CAGR (2023-2028): 7.6%
Most manufacturing units today demand cutting-edge technology. Factories desire to implement automation technology in order to increase their output. The CNC machine market is driven by factories’ desire to create work items effectively and efficiently. With a CNC lathe, everything from cutting to designing to drilling and turning is simple. The ease with which these automation devices can be used is a major market driver for the growth of the market.
Industry Definition and Major Segments
CNC (Computer Numerical Control) is a method of automating machine instrument control by integrating software with a microcomputer attached to the instrument. The most common machine tools that can be automated by CNC activities include mills, lathes, routers, grinders, and lasers.
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The industry can be divided based on types as:
• Lathe Machine
• Miller Machine
• Laser Machine
• Welding Machine
• Winding Machine
The industry can be broadly categorised based on its applications into:
• Aerospace and Defence
• Construction Equipment
• Power and Energy
Based on region, the market is segmented into:
• United Kingdom
Because of the growing demand for computer numerical control (CNC) machines from automobile manufacturers, the industry has experienced significant expansion. Automation is becoming increasingly popular as a means of lowering total operational expenses. In the forecasted period, this is expected to fuel product demand. The deployment of automatic machines is being encouraged by rising need for mass production in aerospace and military, as well as other industry verticals.
Automation advances, which have allowed manufacturers to cut machining time, are also projected to drive the market. The market is expected to be driven by the rising energy sector, particularly in France. Precision and accuracy in the fabrication of elements like turbines and rotor shafts are likely to be critical. Wireless technology advancements have made it possible for computer numerical control devices to be IoT-compatible, bringing convenience to users.
As a result, the market is projected to rise. Product demand is predicted to rise further as technology, automation, and computer-aided manufacturing (CAM) and CNC procedures become more widely adopted. Government-sponsored research financing programs in partnership with universities are encouraging businesses to engage in R&D, resulting in increased market growth opportunities.
On the negative, despite their advantages over traditional alternatives, CNC machines have high purchase and maintenance costs, which are limiting market expansion. Additionally, safety rules for such equipment, such as a mandated machine dry run, are projected to stifle market expansion.
Key Market Players
The major players in the market are Bosch Rexroth AG, Amada Machine Tools Co., Ltd., FANUC Europe Corporation, Mondragon Corporation, Style CNC Machines, Hurco Europe Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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