What is the global market size of Computer Numerical Control Machines Market?

Global Computer Numerical Control Machines Market size was valued at USD 56.4 billion in 2021 and is poised to grow from USD 62.11 billion in 2022 to USD 131.424 billion by 2030, growing at a CAGR of 10.2% in the forecast period (2023-2030).

Who are the key vendors in the Global Computer Numerical Control Machines Market?

The Global Computer Numerical Control Machines market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'Yamazaki Mazak Corporation (Aichi, Japan)', 'Soft Servo Systems, Inc.', 'Amada Machine Tools Co. Ltd.', 'Mitsubishi Electric Corporation', 'Fanuc Corporation', 'Sandvik AB', 'Siemens AG', 'Bosch Rexroth AG', 'Heldenhain GmbH', 'CNS Equipment Ltd.'

What is the key driver of Global Computer Numerical Control Machines Market?

The desire for real-time information access has increased the use of the Internet of Things in manufacturing processes. As a result, productivity, safety, production innovation, and downtime expenses would all be enhanced. For instance, Zyfra introduced a cloud-based version of its MDCplus machine monitoring system in April 2020 as a distant Internet of Things (IoT) innovation that enables remote monitoring of computerised numerical control machines that are already in India. Furthermore anticipated market drivers are the accessibility of sensors, internet connection, and cloud computing.

What is the key market trend for Global Computer Numerical Control Machines Market?

The machine tool industry has been significantly impacted by process automation. The manufacturing sector is showing a rising propensity for process automation as a consequence of the requirement for improved service quality, efficiency, and simplicity. As a result, manufacturers are embracing new technology themselves and producing goods with a variety of digital technologies including artificial intelligence (AI) and the internet of things (IoT). JTEKT, for instance, incorporates much digital technology into both its operations and products. In order to replace manual examination, it has deployed automated inspection equipment that uses 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 the field of machine tools is AI technology.

Which region accounted for the largest share in Computer Numerical Control Machines Market?

The high precision, speed, and emphasis on the energy economy of CNC metal cutting machine tools are contributing to their enormous growth in popularity. The market for metal cutting tools is expanding as a result of the rising demand for electrochemical machining. This is due to the numerous advantages of electrochemical machining and micromachining for enhanced surface integrity in diverse applications, such as stress-free drilled holes in the automotive sector and complicated form production in the aerospace industry. The metal forming segment is anticipated to develop due to the rising need for maximum performance with high accuracy and control.

Global Computer Numerical Control Market

Computer Numerical Control Market Size, Share, Growth Analysis, By Type(Lathe Machines, Milling Machines, Laser Machines, Grinding Machines), By End-Use(Automotive, Aerospace & Defense, Computer Numerical Control, Power & Energy), By Region - Industry Forecast 2024-2031

Report ID: SQSG25J2008 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 68 | Figures: 75

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Computer Numerical Control Market size was valued at USD 56.4 billion in 2019 and is poised to grow from USD 62.13 billion in 2023 to USD 135.92 billion by 2031, growing at a CAGR of 10.2% in the forecast period (2024-2031).

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, 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. 'Siemens AG', 'Mitsubishi Electric Corporation', 'FANUC Corporation', 'Bosch Rexroth AG', 'Haas Automation, Inc.', 'Hurco Companies, Inc.', 'Okuma Corporation', 'DMG MORI CO., LTD.', 'Yamazaki Mazak Corporation', 'Sandvik AB', 'GF Machining Solutions', 'Doosan Machine Tools Co., Ltd.', 'Trumpf Group', 'AMADA MACHINERY CO., LTD', 'JTEKT Corporation', 'Makino Milling Machine Co. Ltd.', 'Komatsu Ltd.', 'Schuler AG', 'Brother Industries, Ltd.', 'INDEX-Werke GmbH & Co. KG Hahn & Tessky.'

One of the key drivers propelling the growth of the computer numerical control (CNC) machine market is the rise in demand for a variety of industrial devices and equipment, such as medical devices, telecom communication devices, and semiconductor production equipment, and electric vehicles (EV). The market is expanding due to the rising demand for ultra-precision and five-axis milling machines, both of which are essential for producing electric vehicles (EVs).

The industrial sector's growing need for automated manufacturing has led to an increase in the use of CNC machines. Also encouraging the use of computer numerical controls in this industry is the development of industrial facilities in the Asia Pacific. Since power generating demands extensive automation, CNC machines are very frequently used in this industry. CNC has become increasingly important in the automotive industry. Modern automobiles contain a considerable number of elements made entirely by CNC tools and machines, from die-casting related components to creating unibody frames. In reality, CNC machines are used in the production of engine housings, axles, bearing caps, suspension parts, and carburetor housings. Another example of how numerical control machining is used while producing vehicle components is the milling of acrylic/PMMA for headlights, exterior lighting, and interior lights. Due mostly to the rising rate of automated automobile manufacturing, the automotive sector is predicted to experience rapid growth in the upcoming years.

In 2021, the Asia Pacific region held more than 35% of the 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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Computer Numerical Control Market Size, Share, Growth Analysis, By Type(Lathe Machines, Milling Machines, Laser Machines, Grinding Machines), By End-Use(Automotive, Aerospace & Defense, Computer Numerical Control, Power & Energy), By Region - Industry Forecast 2024-2031

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What is the market size of Computer Numerical Control Market?

Who are the key vendors in the Computer Numerical Control Market?

What is the key driver of Computer Numerical Control Market?

What is the key market trend for Computer Numerical Control Market?

Which region accounted for the largest share in Computer Numerical Control Market?

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