Computer Numerical Control (CNC) Machine Market Share, Size, Trends, Industry Analysis Report, By Type (Milling, Lathe, Grinding, Welding, Winding, Laser, and Others); By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM1401
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global computer numerical control (CNC) machine market was valued at USD 64.7 billion in 2023 and is expected to grow at a CAGR of 10.0% during the forecast period. CNC machines control the directional movement of tools and accompanying machinery through pre-programmed software. The CNC machines comprise a microcomputer which is the controller unit. The microcontroller accepts instructions in the form of inputs given from a small board. The devices that fall under its ambit include lathe, milling, drilling, laser, grinding, drilling, winding, and welding. CNC machines are employed widely in automobiles, aerospace, defense, healthcare, electronics, mining, and transportation.
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The computer numerical control (CNC) machine market is anticipated to pursue strong growth during the forecast period because technological advancements in the production stream lead to less time to complete the job and finesse to produce components with finer surface finish. The emergence of the Internet of Things (IoT) and machine learning (ML) technology has made them automated and user-friendly to notify operators of the status of their PCs or smartphones.
Introducing a new and helpful premise that performs multiple operations such as drilling, cutting, grinding, turning, and facing reduces the need for intervention by attendants and human glitches. The new models are compact and space-saving, requiring less floor space than traditional machinery. This proves instrumental in the growth of the CNC machines market through disadvantages, including the cost of maintenance, which adds a new dimension to human-machine interdependence.
CNC machines are used in automotive, aerospace and defense, power and energy, construction equipment, industrial, and various other sectors. An effort to lower expenditure incurred by operators to manage machinery is one big reason for the growth of CNC machines over the forecast period.
The COVID-19 epidemic has had a significant negative impact on global manufacturing. The machine tool sector also struggles with several issues due to the epidemic. Unexpected factory closures, problems with the supply chain, a labour shortage, and other factors are these difficulties. Yet because the market's recovery phase is so important, manufacturers are working extremely hard to get things back to normal after Q4 2020.
However, due to the decline of these industries, manufacturers are presently experiencing difficulties with sales across various industries, including automotive, construction, aerospace and military, power, and others. Contrarily, the need for machines in the healthcare and pharmaceutical industries has suddenly increased. To counteract COVID-19, Australian Numerical Control and Automation Pty Ltd (ANCA), a company noted for its precision cutting tools, concentrated on delivering ventilator components in May 2020.
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Industry Dynamics
Growth Drivers
Due to the growth in demand for real-time information access, manufacturers are rapidly integrating the Internet of Things into their manufacturing processes. This element would enhance output, safety, manufacturing innovation, and downtime expenses. For instance, In April 2020, Zyfra unveiled a cloud-based variation of their MDCplus machine monitoring system as a remote Internet of Things (IoT) innovation that enables remote monitoring of computerized numerical control machines that are already in India. Other anticipated market drivers are the accessibility of sensors, internet connection, and cloud computing.
The machine tool industry has been significantly impacted by process automation. Process automation is becoming more popular in the manufacturing sector as a consequence of the demand for higher service quality, efficiency, and simplicity. As a result, businesses are implementing new technologies and creating products that include them, including Internet of Things (IoT) and artificial intelligence (AI).
For instance, JTEKT incorporates several digital technologies into its operations and outputs. To replace manual inspection, it has put in place automated inspection equipment, including image processing technology. Additionally, the business is creating Programmable Logic Controllers (PLC) for machine tools that include edge computing and an autonomous grinder. As a result, one of the key developments in CNC machine tool development is AI technology.
Report Segmentation
The market is primarily segmented based on type, application, and region.
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By Type |
By Application |
By Region |
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Lathe Segment was the Largest Market Share in 2022
The lathe machines segment was the largest market share in CNC market due to multi-axis machine industry variants, recent finishes by 5 axis and 6 axis lathes can perform operations from both ends and be assured of delivering fine cuts and better finishes. The simplicity of operations and plethora of applications are escalating their use across the globe.
The milling segment is deemed to gaining high market traction because of reduced operational costs and improvements in machining speed with requirement of low operator work force. The growth of the sector is anticipated to be driven by the rising demand for CNC laser cutting equipment from semiconductor manufacturing organizations in order to solve the continuous scarcity of semiconductors in various industries. Additionally, the growing use of CNC fiber laser cutting equipment in the sheet metal processing and kitchenware sectors is anticipated to positively impact market expansion over the next several years.
Automotive Segment Holds a Significant Share in the Market in 2022
The automotive sector currently makes up a sizable section of the market as a result of the increased need for highly effective parts that can be produced more quickly. A car's combustion engine, lighting, suspension parts, fluid system components, exhaust parts, bushings, and valve retainers can all be produced using these machines. The vehicle industry demands high precision, fast operational periods, and error-free repetition of tasks, which has increased the usage of CNC machines in this sector. Additionally, increased automation in the production and manufacturing processes is anticipated to fuel segmental expansion.
Asia Pacific Witnessed Largest Share in 2022
Asia Pacific witnessed largest share in global CNC Machine market in 2022. The leading players are stepping out with new products to cater to a buoyant market. Global Players are warming up to new markets in developing regions in order to expand their customer base and pursue a powerful market presence. Presence of a well-defined automotive industry in European region will provide a significant boost to the market in the region.
North America is expected to experience tremendous growth as a result of the U.S.'s growing adoption of cutting-edge technology. Additionally, the area will see an increase in the use of these equipment due to the expanding use of machine tools for metalworking facilities across several sectors. Additionally, rising imports ascribed to the manufacturing industry are fostering market expansion.
The Middle East and Africa are anticipated to support the expansion of the worldwide market. This component is a result of rising demand from the construction, aerospace, food & beverage, and automotive industries. Rising vehicle sales in Kuwait, Jordan, and other countries will help expand the regional market.
Competitive Insight
Some of the major players operating in the global market include Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., and Yamazaki Mazak Corporation among others.
Recent Developments
- In April 2019, Fanuc Corporation collaborated with Preferred Networks, Inc., developed an AI function named AI Servo Monitor that collects control data from the spindle axis and feeds axis machines with high-speed sampling
- In August 2021, MES Inc. announced the acquisition of Versatech, LLC, which operates as a prominent manufacturer of CNC machine solutions. This acquisition will augment intentions of MES Inc. to increase its prominence in the last mile manufacturing
Computer Numerical Control (CNC) Machine Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 70.97 billion |
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Revenue forecast in 2032 |
USD 152.68 billion |
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CAGR |
10.0% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., and Yamazaki Mazak Corporation among others. |
FAQ's
Key companies in computer numerical control (CNC) machine market are Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH.
The global computer numerical control (CNC) machine market expected to grow at a CAGR of 10.0% during the forecast period.
The computer numerical control (CNC) machine market report covering key segments are type, application, and region.
Key driving factors in computer numerical control (CNC) machine market are popularity of Automated CNC Systems and demand for EV Productions
The global computer numerical control (CNC) machine market size is expected to reach USD 152.68 billion by 2032.
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