The Global Computer Numerical Control Market size was USD 90.03 billion in 2021 and it is expected to grow to USD 152.1 billion in 2030 with a CAGR of 6.89% in the 2022-2030 period.
Global CNC Machine Market: Overview
Computer Numerical Control (CNC) Machine is a fabrication tool that works on a specific set of digital instructions (or programs) and accordingly controls the machines in the manufacturing process. Today CNC machines are fully automatic. All they require is a set of digital instructions about cutting trajectories and tooling. There are two important parts to the machine’s operation. CAD (Computer Aided Design) and CAM (Computer Aided Manufacturing). These are essential software packages to smoothly run the machine. The design of the parts is done in CAD software. The 3D model determines the properties and dimensions of the final products. Then comes the role of the CAM software package. First, it prepares the model for the whole production process, then checks the model of errors, and finally, it prepares a CNC program for the manufacturing of the final project. The CNC machine market is projected to grow at a significant rate during the forecast period because CNC is a safe and low-cost option. Hence, there is increased demand from various application segments.
The global CNC machine market is expected to grow significantly because of a number of driving factors – greater efficiency in the design of complex machine parts, high precision, and reduced operating cost, and technological advancement in the production process. Apart from this, growth in the mass production of the products of the automobile and electrical industry further intensifies the growth of the CNC machine market. Though all things look smooth to grow there are certain restraints too. High cost of maintenance and lack of trained operators are a few to mention.
Key Insights
- As per the analysis done by our research analyst, the CNC Machine Market is estimated to grow with a CAGR of 6.89% over the forecast period (2022-2029).
- In terms of revenue, the CNC Machine Market size was valued at USD 90.03 billion in 2022 and is estimated to grow to around USD 152.1 billion in 2030
- Due to various driving factors, the CNC Machine Market is predicted to grow at a significant rate. Efficiency & precision required for the mass production of the parts is a key driving factor.
- Based on the End Use, the industrial sector contributes a major share of the global CNC market.
- Based on Type. The CNC lathe machines segment holds a significant share in the market
- By Regional Analysis, Asia Pacific region dominates the market.
COVID-19 Impact:
COVID-19 pandemic had a negative impact on the global CNC machine market. This is because of halted manufacturing processes worldwide. This can be further clarified as there was the sudden shutdown of the manufacturing plants, coupled with the labor shortage, disruption in the supply chain, and decreased sales worldwide. Thus, as the demand for the final finished product got affected during this pandemic, the overall growth of the CNC machine market was also got affected.
CNC Machine Market Dynamics:
Driving factors:
- Greater Efficiency: CNC machines have greater efficiency in the design of complex machine parts, high precision, and reduced operating cost. These factors serve as a driver for the growth of the CNC machine market. Apart from this, the mass production of products from the automobile and electrical industry also serves as a driver.
Restraints:
- High Maintenance Cost & Lack of trained manpower: CNC machines are costlier than manual operating machines, implying that the initial cost is higher in the case of CNC machines. Also, these machines require proper maintenance and upkeep for their smooth functioning. This adds to their maintenance cost. Apart from these factors, the lack of trained manpower is an area of concern as these machines require skilled operators and machinists to handle the machines and have efficient production. The lack of skilled manpower is also a restraint.
CNC Machine Market: Opportunities
Manufacturers are relying on products that use automation technology such as the Internet of Things (IoT) and Artificial Intelligence (AI). These steps are taken in order to have a highly efficient, safer, and simplified production process. Besides, the manufacturers of CNC machines are coming up with various training and certification programs in order to bridge the skilled manpower gap.
Strong Need for CNC Equipment in the Healthcare Sector –
The COVID-19 pandemic is expected to have a positive impact on the market because of the high demand for CNC equipment in the healthcare sector. The unexpected rise of COVID-19 infections led several businesses to employ automation. This problem enhanced the demand for technology in the healthcare sector. The pharmaceutical sector also encouraged this business since there was such a strong demand for efficient technology to deliver healthcare products and services. Rapid digitalization also promotes the usage of CNC machinery. These factors encouraged the growth of the industry throughout the pandemic.
CNC Machine Market Scope:
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Attribute
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Details
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Market Size in 2020
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USD 90.03 billion
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Estimated Market Size in 2028
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USD 152.1 billion
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CAGR Growth Rate
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6.89%
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Base Year
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2021
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Forecast Years
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2022-2030.
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Major Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Companies Covered
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- Amada Co. Ltd.,
- Amera Seiki
- Fanuc Corporation
- Datron AG
- DMG Mori
- Dalian Machine Tool Group (DMTG) Corporation
- Haas Automation Inc.
- Okuma Corporation
- Shenyang Machine Tool Co. Ltd. (SMTCL)
- Hurco Companies Inc.,
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis by Segments
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CNC Machine Market: Segmentation
- By Type Analysis: The market is segmented into drilling machines, lathe machines, milling machines, laser machines, grinding machines, welding machines, and others. The CNC lathe machines segment was worth USD 17.61 billion in 2021 and is expected to grow at a CAGR of more than XX% during the forecast period. Growing demand for CNC lathe machines from the automotive industry to manufacture customised parts such as starter motors, gearboxes, cylinder heads, and other prototyping applications is predictable to drive market growth in the near future. Moreover, technological developments in existing CNC lathe systems with new features used for a variety of applications are expected to boost market growth.
- Based on End Use: The market is segmented into automotive, construction equipment, aerospace & defense, industrial, power & energy, others. The industrial sector is expected to account for more than XX billion by 2030, accounting for more than 26% of the market share in 2021. The industrial section includes the general manufacturing sectors of packaging, electronics, medicine, and other general industries.
Regional Insights:
The world is distinguished into five key regions namely North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Of these the Asia Pacific region will register the highest growth rate in the forecast period due to mass industrial operations in the region. Asia Pacific accounted for the more than 36% of the overall market share in 2021 and it is expected that it would continue to hold the top position during the projected period.
North America will add a significant growth in the market owing to increased technological developments in the U.S. Europe will experience a steady growth in the market due to cost reduction and time saving applications.
Competitive Analysis:
Global CNC Market is led by key players such as - Amada Co. Ltd., Amera Seiki, Fanuc Corporation, Datron AG, DMG Mori, Dalian Machine Tool Group (DMTG) Corporation, Haas Automation Inc., Okuma Corporation, Shenyang Machine Tool Co. Ltd. (SMTCL), Hurco Companies Inc.
Recent Developments:
- FAST RADIUS introduced new CNC machine tool. The 4-axis machines enable more detailed cutting by incorporating a rotational axis.
- Funac Corporation in collaboration with Preferred Networks, Inc. developed an AI software namely AI Servo Monitor that collects control data from the spindle axis and feeds axis machines with high-speed sampling.
Global CNC Machine Market Segment as follows:
By Types
- Drilling Machines
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Others
By End Use
- Automotive
- Construction Equipment
- Aerospace & Defense
- Industrial
- Power & Energy
- Others
Frequently Asked Questions (FAQs):
Which is the leading segment in the market?
Among Types, the Metal cutting is the leading segment in the market.
What are the key factors driving the market?
greater efficiency in the design of complex machine parts, high precision, and reduced operating cost, and technological advancement in the production process.
Which region will contribute notably towards the CNC Machines Market growth?
Asia Pacific contributes notably towards the CNC Machines Market.
What are the key players in CNC Machines Market Company?
Amada Co. Ltd.,
Amera Seiki
Fanuc Corporation
Datron AG
DMG Mori
Dalian Machine Tool Group (DMTG) Corporation
Haas Automation Inc.
Okuma Corporation
Shenyang Machine Tool Co. Ltd. (SMTCL)
Hurco Companies Inc.,