USD 86.83 billion
Report ID: SQSG25J2008 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 68 | Figures: 66
Global Computer Numerical Control Market Size was valued at USD 86.83 billion in 2021, and it is expected to reach a value of USD 140.5 billion by 2028, at a CAGR of 6.9% over the forecast period (2022-2028).
Over the projected period, growth in the computerised numerical control market is anticipated. The term "computerised numerical control" (CNC) refers to a sort of programmable automation in which different machining operations are carried out by microcomputers and are guided by mathematical information. In addition to input parameters like depth of cut, feed, and speed, CNC may also regulate functions like turning on and off the spindle and the coolant. When superior quality and efficiency are required, CNC is used. The main advantages of CNC include reduced human error rates, quick production times, high manufacturing accuracy, increased manufacturing flexibility, and contour machining.
This market has benefited greatly from the expansion of the machine tool sector, as well as from rising demand from the retrofit market. High investment needs, however, can be a barrier to the expansion of the CNC business.
Market limitations may be caused by high maintenance costs and the need for experienced part programmers. According to application, CNCs have found significant markets in the aerospace and automotive industries. High-performance CNCs are now being used in sectors like the food industry, healthcare, jewellery, and woodworking. Large market segments of the machine tool and metalworking machinery industries have received the most of the attention from CNCs. A comparatively smaller target group comprises a variety of cutting and material contouring applications in the glass, wood, and plastic industries.
Machine tool and non-machine tool categories are used to categorise CNC. In the category of machine tools, CNC is used for milling machines, drill presses, grinding units, lathe machines, lasers, etc.; in the category of non-machine tools, it is used for coordinate measurement machines, welding machines, electronic assembly, winding machines, etc. Demand for machine tools is anticipated to be high, while demand for non-machine tools is anticipated to rise.
Global Market Size
USD 86.83 billion
Aerospace & Defense
Aerospace & Defense
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The computer numerical control (CNC) machine market is segmented based on Type, End-use, and Region. Based on the Type, the market is Sub segmented into lathe machines, milling machines, laser machines, grinding machines, welding machines, winding machines, and others. Based on End Use the market is further sub-segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, and Others. Based on Region the market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Type
The market for CNC lathe machines was worth US$ 16.11 billion in 2021, and it is expected to grow at a CAGR of more than 10% during the forecast period. Over the coming mid-term, the automotive industry's growing need for CNC lathe machines to produce bespoke parts including cylinder heads, starter motors, gearboxes, and other prototyping applications is expected to propel computer numerical control market expansion. Additionally, the market expansion is expected to benefit from technological developments in current CNC lathe systems with new features employed for a variety of applications. For instance, the Cincom L32 XII, a sliding headstock type automatic CNC lathe machine with an automatic tool changer, was introduced by Citizen Machinery Co., Ltd in February 2021.
There will be a demand for more than 650 000 units of CNC laser equipment, representing a CAGR of 9.0% throughout the projected period. The category is expected to develop over the projected period due to the rising demand for CNC laser cutting machines from semiconductor manufacturing businesses to solve the persistent shortage of semiconductors in all industries. Additionally, computer numerical control market growth is expected to be favorable in the upcoming years due to the growing use of CNC fiber laser cutting equipment in the sheet metal processing and kitchenware industries.
Analysis by End-Use
The automobile, aerospace & defense, construction equipment, power & energy, industrial, and other subcategories are further divided into the end-use section. By 2028, the industrial sector is expected to account for more than 30 billion and hold more than one-fourth of the market share in 2021. The general manufacturing sectors of packaging, electronics, medicine, and other general industries are included in the industrial segment. Growth over the projection period is expected to be driven by rising demand for fully automated and turnkey CNC machines to scale up production to meet backlogs starting in 2021.
It is expected that the surge in EV sales and the rise in demand for the production of ultra-precision parts for EVs will be favorable for the expansion of the automotive sector throughout the projected period. It is expected that the demand for customized automobile parts such as crankshafts, cylinder heads, and motor pumps would continue to support computer numerical control market expansion. In light of these elements, it is expected that by 2028, the automobile industry will require more than US$ 25 billion in CNC machines.
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In 2021, the Asia Pacific region held more than 35% of the global market share, and it is expected that it would continue to hold the top position during the projected period. Sales of CNC machines are expected to reach 800,000 units in 2022 and quadruple by 2028. The market demand is attributed to the surge in industrial equipment manufacturing outsourcing services, the availability of inexpensive raw materials in abundance, and low operational costs that fuel the demand for manufacturing outsourcing and increase the sales of CNC machines over the forecast period. During the projection period, Europe is expected to experience a CAGR of 9%. Germany, Italy, France, and the nations of Central and Eastern Europe are the main drivers of the expansion. Over the next few years, market growth is expected to be driven by a lack of workforce forcing metalworking companies to raise their investment in automation to boost the productivity of their CNC machines.
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The competitive landscape for the computer numerical control (CNC) machine market includes information from competitors. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The aforementioned data points are limited to the companies' market concentration on computer numerical control (CNC) machines.
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According to our analysis, the CNC lathe machines segment dominated the Global Computer Numerical Control Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the Asia Pacific dominated the Global Computer Numerical Control Market owing to the region's highly aware and economically stable population.
|Market size value in 2021||USD 86.83 billion|
|Market size value in 2028||USD 140.5 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Computer Numerical Control Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Computer Numerical Control Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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