The global 5-Axis CNC machining centers market to grow at a CAGR of 6.66% during the period 2017-2021.
The report, Global 5-Axis CNC Machining Centers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is cloud-based CNC systems. The evolution of industry 4.0 and IIoT have given rise to the demand for cloud-based computing to manage the huge amounts of data in a cost-effective manner. Therefore, it is expected that CNCs, being essential machine tool devices, will incorporate cloud-based systems.
According to the report, one of the major drivers for this market is self-optimized machine cutting. The cutting process primarily consists of 5-axis milling and gun drilling processes and operations. The rising self-optimization capability of these processes in 5-axis CNC machines is likely to increase the production efficiency of the cutting process along with a reduction of cost.
Further, the report states that one of the major factors hindering the growth of this market is highly capital-intensive market. The machine tools market is capital intensive, and the profitability of this market is highly correlated to the prices of raw materials, such as iron, steel, aluminum, brass, and copper. It is estimated that these raw materials approximately account for 48% of the overall manufacturing cost. Fluctuations in raw material price have a negative impact on manufacturers due to the frequent changes in pricing strategy.