New York, United States , Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Computer Numerical Control (CNC) Machines Market Size is to Grow from USD 63.78 Billion in 2022 to USD 141.57 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.3% during the projected period.
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The Global Computer Numerical Control (CNC) Machines Market refers to the industry that involves the design, manufacturing, and distribution of CNC machines. CNC machines are automated systems used in various industries, such as manufacturing, automotive, aerospace, electronics, and healthcare, to precisely control the movement of tools and equipment during the production process. The adoption of these technologies is also being fueled by a rise in demand for mass customization. For instance, CNC-programmed machine tools make it possible to produce several products quickly and affordably in a single batch. The computerized system of control used by CNC machines connects numerous machine parts, such as controllers, sensors, and programmable logic controller (PLC) drives, via a network for management and communication. Additionally, encouraging government initiatives in the Asian region like "Made in India" and "Made in China 2025" are promoting the development of this sector. The high cost of CNC machines and the rising need for highly skilled workers to manage software interfaces are anticipated to restrain market growth.
Covid-19 impact
The COVID-19 epidemic has had a significant impact on the manufacturing industries around the world. The machine tool sector is also struggling with some issues as a result of the pandemic. These difficulties were brought on by unexpected factory closures, problems with the supply chain, a labour shortage, and other factors. But because the market's phase of recovery is so important, manufacturers are working very hard to get things back to normal after Q4 2020.
Additionally, because of the decline of these industries, manufacturers are currently having trouble selling their products in a variety of markets, including those related to the automobile, building, aerospace and defense, power, and others. Contrarily, the need for machines in the healthcare and pharmaceutical industries has suddenly increased. To give one example, in May 2020, Australian Numerical Control and Automation Pty Ltd (ANCA), a company known for offering precision cutting tools, focused on providing ventilator components, owing to its need to combat COVID-19.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Computer Numerical Control (CNC) Machines Market Size, Share, and COVID-19 Impact Analysis, By Type (Laser Machines, Grinding Machines, Lathe Machines, Winding Machines, Milling Machines, Welding Machines, Others), By Application (Industrial, Manufacturing, Automotive, Power & Energy, Aerospace & Defense, Construction Equipment, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The lathe machines segment is dominating the market with the largest revenue share over the forecast period.
Based on type, the global computer numerical control (CNC) machines market is segmented into laser machines, grinding machines, lathe machines, winding machines, milling machines, welding machines, and others. Among these, the lathe machines segment is dominating the market with the largest revenue share of 38.6% over the forecast period increasing demand from the automotive sector is expected to boost the market expansion of CNC lathe machines. The necessity to produce specialized parts such as cylinder heads, gearboxes, and starter motors, and for prototyping purposes is what is driving this demand. The segment is also anticipated to profit from technological developments in already installed CNC lathe systems. The category growth is anticipated to benefit from the addition of new features to cater to a variety of applications.
The automotive segment is expected to hold the largest share of the Global Carbon Fiber Market during the forecast period.
Based on the application, The market is segmented based on application into automotive, general machinery, precision engineering, transport machinery, and others. Among these, the automotive segment is dominating the market with the largest revenue share of 43.7% over the forecast period. In the automotive industry, there is a growing demand for parts that can be produced more rapidly and efficiently; this segment of the market currently accounts for a sizable share of the market. This equipment may manufacture a wide range of components, including those for the combustion engine, the suspension, the lighting, the exhaust, the fluid system, the bushings, and the valve retainers. The automobile sector has seen a rise in the use of CNC machines as a result of the need for high levels of accuracy and precision as well as decreased operating periods and consistent outcomes for repetitive work.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Based on the region, Asia Pacific is dominating the market with more than 32.8% market share over the forecast period. The usage of CNC machines is rising as a result of the rising demand for precision products with short lead times. Demand for these devices is anticipated to rise as complicated applications for the semiconductor, automotive, medical, and aerospace industries are produced in large quantities. The advantages that computer numerical control (CNC) equipment providers, such as speedy and effective manufacture of several items in a batch, are increasing Favor.
North America is expected to increase significantly due to the rising acceptance of innovative technology in the United States. Additionally, the region will see an increase in the adoption of this equipment due to the expanding use of machine tools for metalworking facilities across several industries. Additionally, rising imports ascribed to the manufacturing industry are fostering market expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the Global Computer Numerical Control (CNC) Machines Market include Corbion, Evonik Industries, Poly-Med Inc, KLS Martin Group, Foster Corporation, DURECT Corporation, Zeus, Ashland and other key vendors.
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Recent Market Developments
On May 2023, FANUC America and Bantam Tools collaborated to create this powerful new Desktop CNC with a FANUC industrial controller and servo motors. The New Bantam Tools Desktop CNC Milling Machine Powered by FANUC is compact and powerful. It is designed with a FANUC industrial controller and FANUC servo motors on all 3 axes to build industrial CNC machining skills and for experienced machinists who want a powerful tool for prototyping using the industry standard in CNC controls.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Computer Numerical Control (CNC) Machines Market based on the below-mentioned segments:
Computer Numerical Control (CNC) Machines Market, Type Analysis
- Lathes
- Mills
- Routers
- Grinders
Computer Numerical Control (CNC) Machines Market, End-use Analysis
- Industrial
- Manufacturing
- Automotive
- Power & Energy
- Aerospace & Defense
- Construction Equipment
- Others
Computer Numerical Control (CNC) Machines Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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