ARC says CNC market to reach $7.7 Billion by 2012

The Computer Numerical Controls (CNC) market has simply exploded in the last two years lead by the surge in production of machine tools in the European and Asian markets. The worldwide market for CNC systems is expected to grow at a compounded annual growth rate (CAGR) of 4.8 percent over the next five years. The market was $6.1 billion in 2007 and is forecasted to be over $7.7 billion in 2012, according to a new ARC Advisory Group study.

“The demand for CNC solutions benefited from the robust investments in general manufacturing, oil & gas infrastructure, automotive, aerospace, green energy, and infrastructure industries. We continue to expect a strong positive growth in the CNC market, at least to the end of 2008, however the expansion in the market will begin to abate as the growing concern over global energy prices and unstable financial markets begins to have an impact on investments,” according to Director of Research Sal Spada, the principal author of ARC’s “Computer Numerical Controls Worldwide Market Outlook.”

Source: Automation.com