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

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).

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.

US Computer Numerical Control Market is poised to grow at a sustainable CAGR for the next forecast year.