As per the business intelligence report titled ‘Computer Numerical Control (CNC) Machine Market Share, Size, Trends, Industry Analysis Report By Machine Types; By Application; By Regions, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global computer numerical control (CNC) machine market is expected to be appraised at USD 106.54 billion by the year 2026.
 

Lucrative growth of computer numerical control machine market can be largely attributed to surging demand for mass production in the manufacturing sector, coupled with escalating need for mechanization and automation across various sectors including oil & gas, construction, and others.
 

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For the record, computer numerical control machines, abbreviated as CNC machines, are primarily utilized for automating the production and manufacturing processes of products in industry verticals such as consumer electronics, defense & aerospace, automotive, and healthcare.
 

These machines are gaining worldwide recognition as they assist in manufacturing high quality products, while parallelly conserving electricity and reducing overhead costs. Advantageous attributes of the machine, primarily enhanced safety, reduced human errors, and higher precision as well as accuracy will continue to stimulate product demand.
 

On the contrary, high initial investments associated with the installation and implementation of the technology is expected to obstruct CNC machine business development throughout the study period.
 

Based on machine type, computer numerical control machine market is bifurcated into laser, winding, welding, grinding, lathe, milling, and others. Among these, lathe segment captured a majority portion of the market share in 2017 and is touted to amass lucrative gains over the forecast period. Rising adoption of the machine across numerous verticals, along with advent of multi-axis machine types are fostering the expansion of the segment.
 

Elaborating on the regional scope, Asia-Pacific is anticipated to emerge as a major growth avenue for the industry partakers over 2019-2026, on account of growing research & development activities, escalating demand for automation, rapid industrialization, and development in the manufacturing sector.
 

Prominent companies influencing the computer numerical control (CNC) machine industry trends are Yamazaki Mazak Corporation, Soft Servo Systems Inc., Bosch Rexroth AG, Sandvik AB, Dr. Johannes Heidenhain GmbH, DMG Mori Seiki Co. Ltd., Haas Automation Inc., Amada Machine Tools Co. Ltd., GSK CNC Equipment Co. Ltd., Siemens AG, Mitsubishi Electric Corporation, and Fanuc Corporation.