New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Computer Numerical Control (CNC) Machinery Global Market Report 2023" - https://www.reportlinker.com/p06466694/?utm_source=GNW
, Yamazaki Mazak Corporation, JTEKT Corporation, MAG IAS GmbH, General Technology Group Dalian Machine Tool Corporation, Hurco Companies, Inc., Amera-Seiki Corporation, Sandvik AB. , Makino Inc., Hyundai WIA Corporation, and Ellison Technologies, Inc.
The global computer numerical control (CNC) market is expected to grow from $80.15 billion in 2022 to $86.70 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The computer numerical control (CNC) market is expected to reach $110.29 billion in 2027 at a CAGR of 6.2%.
The computer numerical control (CNC) machinery market consists of sales of metal cutting and metal forming computer numerical control (CNC) machines and grinders.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Computer Numerical Control (CNC) machinery refers to automated machines that use computerized control systems to perform various manufacturing processes, such as drilling, cutting, and milling, among others. It is used to scan, duplicate, engineer, and reverse-engineer parts to create new and cutting-edge goods.
Asia-Pacific was the largest region in the computer numerical control (CNC) machinery market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in computer numerical control (CNC) machinery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of computer numerical control (CNC) machinery include lathe machines, milling machines, laser machines, grinding machines, welding machines, winding machines, and others.Lathe machines refer to a type of computer numerical control (CNC) machine tool used for shaping, drilling, cutting, sanding, or otherwise transforming materials, typically metal or wood.
These machines consist of different numbers of axes including 3-axis, 4 axis, and 5 axes for use in various end-users such as automotive, aerospace and defense, construction equipment, power and energy, industrial, and others.
The increasing demand for semiconductor production equipment is expected to propel the growth of the computer numerical control (CNC) machinery market going forward.Semiconductor production equipment refers to the equipment or devices that are responsible for the manufacturing of semiconductors by manipulating atoms.
Computer numerical control (CNC) machines play an important part in semiconductor production equipment by allowing it to achieve minimum surface tolerance.These CNC machines also enable the manufacturing of cylindrical semiconductor components in the semiconductor production equipment.
For instance, in December 2022, according to Semiconductor Equipment and Materials International (SEMI), a US-based international industry association, the sales of semiconductor manufacturing equipment accounted for $102.5 billion in 2021 to $108.5 billion in 2022, which is increased by 5.69% in the year 2022 as compared to 2021. Therefore, the increasing demand for semiconductor production equipment is driving the growth of the computer numerical control (CNC) machinery market.
Technological advancements are a key trend gaining popularity in the computer numerical control (CNC) machinery market.Companies operating in the computer numerical control (CNC) machinery market are adopting innovative technologies to sustain their position in the market.
For instance, in June 2022, Robotiq Inc, a Canada-based robotic applications provider company, launched a ‘Machine Tending Application Solution’ for CNC machines. This new application solution is integrated with automated technology that imitates the machine operator and helps to reduce up to 50% implementation costs.
In August 2021, Kongsberg Precision Cutting Systems, a US-based digital cutting solution company acquired MultiCam, Inc. for an undisclosed amount. With this acquisition, Kongsberg Precision Cutting Systems aims to expand its global reach in the region of North America and Europe where both companies are looking forward to growing their customer base together. MultiCam, Inc. is a US-based manufacturer and distributor of digital finishing processes and computer numerical control (CNC) cutting machines.
The countries covered in the computer numerical control (CNC) machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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