A CNC router, computer numerical control router, is used to cut different types of materials through a computer-controlled system. The report circulated by Market Research Future (MRFR) suggests that the global CNC router market is expected to strike 6.14% CAGR over the review period.
The rising use of these routers in the construction industry is anticipated to drive the expansion of the CNC router market. Increasing applications of the woodwork in the industry are anticipated to open growth avenues for the market players over the next couple of years. The demand from automotive industry is also prognosticated to lead the expansion of the global market in the upcoming years. The rising application across the industrial sector is expected to favor growth of the CNC router market over the forecast period.
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The type-based segments of the CNC router market are movable gantry type, stationary gantry type, and cross-feed unit type. Among these, the movable gantry type segment held the maximum share of the market in 2018. It is poised to account for a leading share of the market in the foreseeable future owing to its extensive application in industries such as industrial, automotive, construction, and power & utility.
On the basis of product, the CNC router market has been segmented into laser, water jet, plasma, and metal tools. The metal tool segment is projected to play a substantial role in the development of the market in the years to come. Increasing extraction of wood for construction applications is poised to drive the expansion of the segment in the forthcoming years.
Application-wise, the CNC router market has been segmented into woodworking, metalworking, stone working, and others. Among these, the woodworking segment is anticipated to lead the growth of the market over the next few years. The rising demand for the product in woodworking applications is poised to lead the proliferation of the segment in the years to come.
On the basis of end-use, the CNC router market is segmented into automotive, construction, industrial, and others. The construction segment accounted for the largest share of the market in 2018. It is expected to hold its prominence through the review period.
The regional segments of the global CNC router market identified in this report are – North America, Asia-Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is anticipated to dictate the growth curve of the market in the upcoming years. The growth of the industrial sector is projected to boost market growth in the foreseeable future. Europe held the second-largest share of the CNC router market in 2018. It is projected to hold a significant market share in the years to come.
Biesse Group (Italy), Anderson Group (Taiwan), HOMAG Group (Germany), Exel CNC Ltd (UK), Thermwood Corporation (US), Carbide 3D LLC (US), MultiCam Inc. (US), The Shoda company (Japan), AXYZ Automation Group (Canada), ShopSabre (US), and Komo Machine (US) are few of the prominent players of the global CNC router market.
The competitive landscape of the market is quite fragmented and is poised to exhibit robust competition over the next couple of years. Technological developments are supposed to act as a catalyst to the competition among the players. Also, the focus on regional expansion is projected to boot competitiveness over the next couple of years. In addition, some of the inorganic growth strategies anticipated to be observed in the CNC router market are partnerships, agreements, mergers & acquisitions, collaborations, strategic alliances, etc.
In September 2019, Axiom Tool Group, a CNC tool manufacturer, has announced the acquisition of Iconic CNC routers brand.
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