Burlingame, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The global Computer Numerical Control (CNC) Machines Market size was valued at US$ 67.48 Billion in 2022, exhibiting a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030, according to a new study conducted by Coherent Market Insights, Inc. The Computer Numerical Control (CNC) machine industry is involved in the manufacturing, design, and distribution of CNC machines. Growing demand for complex parts from wide range of industries is driving Computer Numerical Control (CNC) machine market growth. Moreover, increasing automation in manufacturing industries is again expected to foster market growth. automotive, aerospace, electronics, and consumer goods are increasingly adopting automation to enhance the efficiency, productivity, and quality control of their manufacturing processes.
Key Industry Insights & Findings from the report:
- In April 2023, Mitsubishi Electric India CNC has announced partnership with SolidCAM, a global marketer in innovative CAM software for CNC machining and distribution of related digital manufacturing solutions. The partnership was signed between the two entities on 21st April 2023 at the CNC eXPerience Park, the Technology Centre of Mitsubishi Electric India located in Peenya to establish the brand as a one-stop solution for the Machine Tool End-users.
- Global Computer Numerical Control (CNC) Machine market is expected to exhibit a CAGR of 9.7% during the forecast period, owing to demand for complex parts from wide range of industries. Rapid industrialization and growing popualirty of cloud-based CNC is again expected to propel the market growth.
- On the basis of Type, milling machines segment is expected to hold a dominant position, owing to the growing demad from automotive, aerospace, and manufacturing for producing complex parts with high accuracy. Moreover, they are used for precision cutting, drilling, and shaping of materials across various industrial setups.
- On the basis of End Use, aerospace & defense segment is expected to hold a dominant position. CNC technology is widely used in the aerospace and defense industries for creating complex and precision components such as engine parts, turbine blades, and airframe components.
- On the basis of region, North America is expected to hold a dominant position over the forecast period. The region is characterized by advanced manufacturing industries and technological innovation.
Read full market research report, "Computer Numerical Control Machine Market, By Type (Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Welding Machines, Winding Machines, and Others), And By Geography, Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030", published by Coherent Market Insights.
Key Trends and Analysis of the Global Computer Numerical Control (CNC) Machine Market:
Growing popualirty of cloud-based CNC is projected to shape the market growth positively. Cloud connectivity allow data sharing, remote monitoring, and also remote operation of CNC machines, improving flexibility and collaboration between companies. In April 2020, Zyfra has launched an Internet of Things (IoT) innovation in the form of a cloud-based version of its ‘MDCplus’ machine monitoring system which allows remote monitoring of computerised numerical control (CNC) machines already installed by the company for industry clients in India.
Computer Numerical Control Machine Market Report Coverage
| Report Attribute | Details |
| Market size value in 2022 | US$ 73.24 billion |
| Forecast Period: | 2023 to 2030 |
| Growth rate | CAGR of 9.7% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2021 |
| Forecast period | 2023 - 2030 |
Market Drivers:
Technological advancements is expected to drive Computer Numerical Control (CNC) machine market growth
Key players are adopting various business growth strategy to expand their product portfolio and develop innovative CNC machines. For instance, in December 2021, Simplex Industrial Solutions and Software, specialized in manufacturing computer numerical control (CNC) machines, launched a new CNC machine factory on an area of 5,000 sqm in the Industrial Zone of the 10th of Ramadan City
Market Opportunities:
Intergration of 3D printing technology in CNC machine is expected to provide lucrative market growth opportunities
Incorporating CNC technology with additive manufacturing (3D printing) allow manufacturer to create hybrid machines that offer the benefits of both techniques. This can ease the production of highly complex and customized parts with improved efficiency.
Detailed Segmentation:
- Global Computer Numerical Control (CNC) Machines Market, By Type:
- Lathe Machines
- Milling Machines
- Laser Machines
- Grinding Machines
- Welding Machines
- Winding Machines
- Others
- Global Computer Numerical Control (CNC) Machines Market, By End-use:
- Automotive
- Aerospace & Defense
- Construction Equipment
- Power & Energy
- Industrial
- Others
- Global Computer Numerical Control (CNC) Machines Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- U.K.
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- Australia
- India
- ASEAN
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
- Company Profiles
- Hurco Companies Inc.
- Protomatic Inc.,
- Metal Craft
- AMS Micromedical LLC
- JTEKT Corporation
- Haas Automation
- Fanuc Corporation
- Siemens AG
- DMG Mori Seiki Co
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