New York, US, May 08, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “CNC Machine Market Information by Type, End-User, and Region - Forecast till 2030", From 2022 to 2030, the CNC machine market can project healthy growth at a rate of 5%, while attaining a valuation of more than USD 126 billion by 2030.
CNC Machine Market Overview
CNC machines are in charge of computerized system-based machine tool control. Strong Internet of Things adoption is projected to increase product demand. Additionally, the usage of CNC is anticipated to increase across a number of industries with the incorporation of advanced digital technology.
Industries may see increased product uptake as a result of rapid digitization and the move to automated production methods. In addition, growing manufacturing sector expenditures in IoT are anticipated to accelerate the technology's adoption across numerous industries.
CNC Machine Market Competitive Landscape:
The important vendors in the CNC machine industry are
- Okuma Corporation (Japan)
- Yamazaki Mazak Corporation (Japan)
- Amada Co. Ltd. (Japan)
- Haas Automation Inc. (US)
- Fanuc Corporation (Japan)
- Datron AG (Germany)
- Amera Seiki (US)
- MG Mori (Germany)
- Hurco Companies Inc. (US)
- Dalian Machine Tool Group (DMTG) Corporation (China)
- Shenyang Machine Tool Co. Ltd. (SMTCL)
- Among others.
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CNC Machine Market increase the number of products they offer, major market players are spending a lot of money on R&D. This will propel the global sector to even greater heights of expansion. A variety of tactical actions taken by market players, including as the launch of new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies, are also helping them expand their worldwide reach. The big manufacturers are providing products at fair pricing in an environment where competition is intensifying and costs are rising.
CNC Machine Market COVID 19 Analysis
The COVID-19 pandemic led to a worldwide lockdown, which has halted the CNC machine production. This slowed the market's expansion over the past few years and did throughout 2022 as well.
Due to the limits put in place by the government to stop the spread of COVID-19, many businesses saw a sharp fall in 2020. This had an impact on the sales of different types of CNC machines.
Due to the limitations placed on industrial operations, the COVID-19 epidemic had a severe impact on manufacturing facilities as well. In order to respond to current crises and establish new ways of working after COVID-19, many manufacturers concentrated on safeguarding their staff, operations, and supply networks. For instance, providing hand sanitizers, upholding social distancing, and ensuring that every employee in the company has had their vaccinations can help to promote the health and safety of the workforce.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 126 Billion |
| CAGR during 2022-2030 | 5% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User |
| Key Market Opportunities | Automated CNC Systems Are Popular |
| Key Market Drivers | Demand for mass-production plants is increasing |
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CNC Machine Market USP Covered:
Market Drivers:
By 2030, it is predicted that there would be a demand for more than 2800 thousand CNC machines. The main driver anticipated to propel the CNC machine market expansion over the forecast period is the rising need for medical devices, electric vehicles (EV), telecom communication equipment, and equipment used in the fabrication of semiconductors. The necessity for five-axis milling and ultra-precision machinery to meet the demands of EV manufacturers is also projected to fuel expansion.
Over the course of the conjectured period, the market for computer numerical control (CNC) machines are anticipated to rise favorably due to automated CNC systems combined with industrial robots featuring simulation software to boost output. Automation of CNC machines is being used primarily to alleviate the present shortage of trained laborers that most sectors are now experiencing. This makes it possible for manufacturing sectors to boost productivity and efficiency. Incumbents in this CNC machine market, such as Fanuc Corporation and OKAMA America Corporation, focus on integrating new technologies with the current product line to meet this demand.
In order to improve customer experience, business administration, and occupational physiology, and support their core business, CNC machine companies are concentrating on creating novel and creative ways to make facility assets and services relevant and essential. Property management services are customized to meet the short- and long-term financial objectives of property owners. On the basis of a capital plan and operating budget that is zero-based, service and solution providers create strategic property operations plan for their clients. These market players are spending on R&D and using marketing techniques including partnerships and collaborations, mergers and acquisitions, product launches, and developments to increase their market share and attract more customers.
Market Restraints:
In general, CNC equipment is more expensive than manually driven equipment. However, it is predicted that their cost would effectively decline with time. Additionally, producers must do routine maintenance on the high-tech components to preserve the machines' correct operation. Additionally, machinists must receive the proper instruction and become familiar with the technical know-how required to operate this equipment. Therefore, manufacturers are offering numerous training programs to improve the abilities of machinists in order to reduce the impact of restraint.
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CNC Machine Market Segmentation
By Type
The CNC machine market, by type, is divided into milling machines, lathe machines, laser machines, welding machines, grinding machines, winding machines, and others. The CNC lathe machines category had a very high growth rate in 2021, and it is anticipated that this segment would expand at the fastest CAGR over the course of the projection period.
By End User
Construction equipment, power & energy, industrial, automotive, aerospace & defense, and others make up the CNC machine market segmentation, with respect to end-users. In 2021, the industrial sector had the biggest market share, and by 2030, it's expected to grow at the fastest rate. The industrial division includes general manufacturing sectors like electronics, healthcare, packaging, and other industries.
CNC Machine Market Regional Insights
Industrialization rates in developing nations like China and India have been rising quickly, propelling the industry. Due to the increasing demand for automobiles in the area, the automotive sector is anticipated to expand significantly throughout the forecast period. Manufacturers have relocated their production facilities in this area as a result of the cheap labor and falling component prices, which is helping the market grow even more. One of the key elements driving adoption in this region is proximity to the supply and demand region.
Additionally, the expansion of manufacturing hubs in the Asia Pacific has boosted the use of computer numerical controls in this industry. The automotive industry, on the other hand, is predicted to have substantial growth in the years to come, mostly as a result of the growth of automated vehicle manufacturing. The metalworking industries, including those in the automotive and manufacturing sectors, are likely to benefit from increased efficiency, time effectiveness, precision, and accuracy given by CNC technology.
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Over the foreseeable period, Europe will prosper admirably as well. Germany, Italy, France, and Central and Eastern European nations are the growth's main drivers. Market expansion will be supported by metalworking companies investing more in automation to boost the productivity of their CNC machine market as a result of the labor shortage.
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