Europe Computer Numerical Control Machine Market: Lathe Machines Segment Accounted For The Largest Revenue Share
Europe Computer Numerical Control Machine Industry Overview
The Europe computer numerical control machine market size is expected to reach USD 37.27 billion by 2028, expanding at a CAGR of 7.4% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. The rising demand for multi-axis computer numerical control (CNC) machines equipped with automatic tool changers is expected to drive the growth of the market over the forecast period. CNC machines facilitate the production of components in lesser time and with greater accuracy. Advances in automation technology over the past few years have allowed manufacturers to introduce solutions that can potentially reduce a significant amount of repetitive work, and subsequently, the machining time.
Suppliers and buyers are struggling to maintain a seamless flow of goods and services as a result of the outbreak of the COVID-19 pandemic and the subsequent restrictions being imposed as part of the efforts to arrest the spread of coronavirus. Developing countries are particularly facing the direct consequences of supply chain disruptions and restricted trading activities. The outbreak of the pandemic has also resulted in the cancellation of several product launch events in 2020, thereby depriving manufacturers of the opportunity to showcase and market their new products and technologies. However, manufacturers have started convening online events to showcase their new products and technologies. For instance, in August 2020, Biesse Group had hosted the “Inside In Action”, a new hybrid, digital, and live online event to bring all divisions onto a common platform.
Europe is considered the hub of automobile production. European countries, such as Germany, Spain, France, and the U.K., are home to some of the largest automobile manufacturers. The strong emphasis on increasing the production capacity of various vehicles, such as cars, trucks, cranes, and carriage vehicles, is expected to drive the growth of the market over the forecast period.
Market players are putting a strong emphasis on strengthening their position in the market and are hence pursuing various strategies, such as new product development, strategic collaborations or joint ventures, and mergers & acquisitions. Most of these strategies are aimed at expanding the geographical reach, tapping untapped geographies, and enhancing the product offerings. For instance, in November 2020, AXYZ Automation Group announced the addition of the new AXYZ Innovator Router to its CNC machine lineup. AXYZ Innovator Router is an entry-level CNC router designed to deliver high performance and precision accuracy and is targeted at prototyping shops, woodworking shops, sign & graphics shops, and educational institutions.
Europe Computer Numerical Control Machine Market Segmentation
Grand View Research has segmented the Europe computer numerical control machine market based on type, end-use, and country:
Based on the Type Insights, the market is segmented into Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, and Others.
- The lathe machines segment accounted for the largest revenue share of over 25% in 2020. Lathe machines have wide-ranging applications across various industries and industry verticals owing to their ability to machine all kinds of rotating surfaces.
- The milling machinessegment is anticipated to grow considerably over the forecast period. Milling machines aid in the process of metal removal while improving the accuracy of machining. The ability of milling machines to perform operations on slots, gears, shafts, spiral surfaces, and several other curved surfaces is expected to drive the demand for milling machines over the forecast period.
Based on the End-use Insights, the market is segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, and Others.
- The industrial segment accounted for the largest market share of over 20% in 2020. CNC machines are particularly used by incumbents of the industries and industry verticals that involve manufacturing, metal cutting, metal removing, fabrication, and other machining operations to perform the machining of workpieces.
- The automotive segment is anticipated to grow significantly over the forecast period. Europe is considered the automotive hub of the world. The presence of major automotive manufacturers in European countries, such as Germany, France, Italy, and the U.K., is primarily driving the demand for CNC machines across Europe. CNC machines can help in producing high-value parts with accuracy and machining intricate parts without employing any additional resources. Hence, the demand for computer numerical control machines from the incumbents of the power and energy industries is also increasing significantly.
Key Companies Profile & Market Share Insights
The market can be described as a highly fragmented market owing to the presence of several market players, including both established, and local and regional market players, catering to a limited number of clients. Hence, the market is witnessing intense competition among the market players. The intensifying competition is prompting several market players to focus on launching new products and upgrading their existing products. For instance, in November 2020, Hurco Companies Inc. introduced three models of CNC turning centers, include TM10Mi XP, TM8Mi XP, and M12Mi XP, as part of the efforts to expand its existing product range.
Research and development activities play a vital role in the development of CNC machines. As this is an established market with several active players spread all over the world, the market participants focus on adopting the latest technologies to offer innovative features, such as connectivity between computers and CNC machines and software solutions facilitating remote monitoring of the CNC machines through computers. Some of the prominent players operating in the Europe computer numerical control machine market are:
- Amada Machine Tools Co., Ltd.
- Amera-Seiki
- DMG Mori Co., Ltd.
- Dalian Machine Tool Group Corporation
- FANUC Corporation
- Haas Automation, Inc.
- Hurco Companies, Inc.
- Okuma Corporation
- Shenyang Machine Tool Co., Ltd.
- Yamazaki Mazak Corporation
Order a free sample PDF of the Europe Computer Numerical Control Machine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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