Computer Numerical Control (CNC) Machine Market Size Worth USD 153.8 Billion by 2030 Growing at a CAGR of 5.33% during the forecast period 2023

According to a market research study published by Contrive Datum Insights, The Asia-Pacific region accounted for more than 35% of the global market, Europe is anticipated to have a CAGR of 9%

Farmington, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The global Computer Numerical Control (CNC) Machine Market size was estimated at USD 96.4 Billion in 2022 and it is expected to hit around USD 153.8 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.33% from 2023 to 2030. By 2030, it is anticipated that the demand for computer numerical control (CNC) equipment would exceed 2,800 thousand units. In the coming years, rising demand for equipment used to manufacture semiconductors, medical gadgets, Electric Vehicles (EV), and telecom communication devices is anticipated to be the primary market growth driver. Additionally, the market is anticipated to expand as EV manufacturers require more five-axis milling machines and ultra-precision machines to suit their demands.

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In 2021, the market for CNC machines recovered, resulting in an increase in orders across all industries, particularly in Europe, Asia-Pacific, and North America. The market expanded in 2021 due to orders that had been delayed because of the outbreak. This will continue to occur in the foreseeable future so that 2020 backlogs can be addressed. But until 2023, the global shortage of semiconductors, rising steel prices, and greater shipping costs are anticipated to prevent OEMs from earning as much from sales.

Computer Numerical Control (CNC) Machine Market Recent Developments:

In March 2021, Fanuc America Corporation, a branch of Fanuc Corporation, added the Quick and Simple Startup of Robotization (QSSR) G-code feature to ss as part of an update to its CNC product line. With this link, the company's improved CNC machines make it easier for toolmakers and machine operators to programme robots.

FANUC America, a well-known maker of robots, CNCs, and ROBOMACHINES, says that old CNC machines with older operating systems will have an upgrade option in 2020. FANUC CNCs can be fixed with the Panel I Replacement Program, which has a powerful industrial PC with a touch- or non-touch LCD screen and Windows 10 IoT Enterprise.

Computer Numerical Control (CNC) Machine Market Segmentation Analysis:

In 2021, the market for CNC lathe machines was valued at approximately USD 17 billion, and it is anticipated to expand at a CAGR of approximately 10.4% during the time of the forecast. Over the next five years, the market is anticipated to expand as the automotive sector will require more CNC lathe machines to manufacture unique components such as cylinder heads, gearboxes, starter motors, and other prototypes. Moreover, technological enhancements to existing CNC lathe systems, such as the incorporation of new features, are projected to contribute to the expansion of the market. Citizen Machinery Co., Ltd. introduced the Cincom L32 XII, an automatic CNC lathe with a sliding headstock and an automatic tool changer, in February 2021.

Vehicle, aerospace and military, construction equipment, power and energy, industrial, and other subcategories are further subdivided within the end-use segment. By 2030, it is anticipated that the industrial sector would be valued more than $28 billion and represent more than a quarter of the market. The industrial category includes the general manufacturing fields of packaging, electronics, pharmaceuticals, and other general sectors. The need for fully automated and turnkey CNC machines to boost output and eliminate backlogs is anticipated to drive growth throughout the forecast period. This will begin to occur in 2020.

Regional Outlook:

The Asia-Pacific region accounted for more than 35% of the global market in 2021, and this trend is anticipated to continue throughout the forecast period. Sales of CNC machines are anticipated to reach 800 thousand units in 2022 and quadruple by 2030. The increase in manufacturing outsourcing services for industrial equipment, the availability of inexpensive raw materials, and low operational costs are all boosting the need for manufacturing outsourcing, which will enhance CNC machine sales in the next years. In the coming years, Europe is anticipated to have a CAGR of 9%. The growth is being driven by Germany, Italy, France, and countries in Central and Eastern Europe.

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Scope of Report:

Report Attributes

Details

Growth Rate

5.33% from 2023 to 2030

Market Size in 2022

USD 96.4 Billion

Revenue Forecast by 2030

USD 153.8 Billion

By Type

Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, Others

By End User

Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, Others

By Companies

Yamazaki Mazak Corporation (Japan), Doosan Machine Tools Co., Ltd. (Korea), Trumpf (Germany), Amada Machine Tools Co., Ltd (Japan), JTEKT Corporation (Japan), MAG IAS GmbH (Germany), Schuler AG (Germany), Makino (Japan), Hyundai WIA (Korea), Komatsu Ltd. (Japan), Okuma Corporation (Japan), FANUC Corporation (Japan), XYZ Machine Tools (U.K.), Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Japan), General Technology Group Dalian Machine Tool Corporation (Liaoning Province), ANCA Group (Australia), and Others

Base Year

2022

Historical Year

2017 to 2021

Forecast Year

2023 to 2030

Market Drivers:

CNC systems are utilised by organisations that manufacture a large quantity of goods because they allow for the fabrication of extremely precise parts and components. CAD and CAM are compatible with a variety of CNC procedures used to manufacture standard parts with machine tools, such as CAD. Additionally, the use of CNC in manufacturing facilities has a direct impact on reducing costs and has a significant impact on both productivity and product quality. Therefore, the aforementioned CNC capabilities have an impact on the expansion of businesses such as the automotive, aerospace, and military sectors, and they generate an excellent market opportunity for U.S. CNC machines.

Market challenges:

Insufficiency of skilled individuals to operate these automation systems is one of the market's most significant obstacles. People must quickly learn how to operate CNC machines through training sessions. In tiny factories, there are few individuals who can operate CNC machinery. The inability of the majority of the workforce to operate CNC machines is a significant market issue. Lack of training can severely harm the marketability of CNC equipment.

Market Opportunity:

Popularity of Automated CNC Systems The demand for automated CNC systems that are compatible with industrial robots is increasing, resulting in greater market consequences. In these systems, simulation software is used to improve production, compensate for a shortage of trained people, and increase productivity. The market for computer numerical control (CNC) gear is additionally bolstered by urbanisation, lifestyle changes, an increase in expenditures, and increased consumer spending.

Computer Numerical Control (CNC) Machine Market Key Segments Covered:

Top Market Players: Yamazaki Mazak Corporation (Japan), Doosan Machine Tools Co., Ltd. (Korea), Trumpf (Germany), Amada Machine Tools Co., Ltd (Japan), JTEKT Corporation (Japan), MAG IAS GmbH (Germany), Schuler AG (Germany), Makino (Japan), Hyundai WIA (Korea), Komatsu Ltd. (Japan), Okuma Corporation (Japan), FANUC Corporation (Japan), XYZ Machine Tools (U.K.), Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Japan), General Technology Group Dalian Machine Tool Corporation (Liaoning Province), ANCA Group (Australia), and Others.

By Type

Lathe Machines

Milling Machines

Laser Machines

Grinding Machines

Welding Machines

Winding Machines

Others

By End Use

Automotive

Aerospace & Defense

Construction Equipment

Power & Energy

Industrial

Others

Regions and Countries Covered

North America: (US, Canada, Mexico, Rest of North America)

Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

Latin America: (Brazil, Argentina, Rest of Latin America)

Rest Of the World

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