Pune, India, April 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global CNC Cutting Machines Market.
The CNC cutting machines market is predicted to reach USD 6,153.2 million by 2027, registering a 6.1% CAGR during the forecast period, 2021–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global CNC cutting machines market is expected to witness substantial growth during the forecast period, primarily due to the growing automotive sector.
The global CNC cutting machines market has been segmented into type, product, application and end user.
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Based on type, the CNC cutting machines market has been bifurcated into stationary gantry types and movable gantry types. Stationery gantry (moving table) CNC routers are simpler to design, build, and maintain. They are inherently more rigid than moving gantry machines because the X-axis beam assembly is fixed. Because it is fixed, any added structural weight improves performance with no negative effects. Whereas a moving gantry design makes sense to keep the footprint small. It is more challenging to build as this is more mechanically dependent and has connected components. However, a stationary gantry types holds the largest share in the global market.
Based on product, the CNC cutting machines market has been segmented into plasma, laser, waterjet, and router. CNC plasma machines need to glide with even motion. Virtually any metal can be plasma cut, including aluminum, brass, steel, stainless steel, and copper. Any thickness from 30 gauge through one inch can be cut, depending on the plasma cutter used. Laser cutting is a thermal process and is entirely dependent on the wattage and power of their laser to cut the materials. Whereas Water jet machines use cold supersonic abrasive erosion to cut almost any material, metals and non-metals. The CNC router machine works like other CNC machines, such as lathe or milling. It involves the use of a program where a user can design their product in drawing software and then confirm it to the program. Hence, the router segment accounted for the largest market share of 37.38% in 2020. Whereas the waterjet segment is expected to register the fastest growth of 7.4% during the projected period.
Based on the application, the market has been split into wood working, stone working, metal working, and others. The metal working includes the high-performance routing and engraving machines for cutting 2D and 3D parts for fabrication profiling control panels and 3D milling to create prototypes, models, and molds. It primarily uses plasma and waterjet technology for end-use operations. Hence, the metal working segment dominates the market and is expected to retain its dominance throughout the projected period. However, the others segment is expected to exhibit the fastest CAGR of 8.1% during the projected period.
Based on the end users, the market has been split into automotive, building & construction, consumer electronics, aerospace & defense, medical, energy & power, furniture, transportation, and others. The automotive industry is largely benefited by advanced CNC router technologies. The main components, such as bushings, transmission cases, carburetor components, housings, shafts, valves, brake system components, and suspension components, are manufactured with the help of a CNC router. Increased demand for wood construction is boosting the CNC router market in the building & construction industry. Similarly, growing advancement in electronics is boosting the application of CNC cutting machine in consumer electronics segment. However, the building & construction segment dominates the market, whereas medical is expected to register a CAGR of 4.4% during the forecast period which is lowest amongst all the segments.
Asia-Pacific accounted for the largest market share of 42.7% in 2020, with a market value of USD 1,714.3 million; it is expected to register the highest CAGR of 7.1% during the forecast period. Asia-Pacific is expected to witness the highest demand for CNC cutting machines from 2021 to 2027, primarily due to the rising product demand from leading manufacturing countries such as China, India, and Japan for industrial parts and automotive parts. Furthermore, the region is home to the largest manufacturing industry for machine tools, automotive, electronics, and consumer products. Additionally, the expansion of the automotive industry in the region is likely to propel the demand for CNC routers for boosting the quality of production of industrial parts and automotive parts over the study period.
The CNC cutting machines market in the North America has a vast potential for growth in the future. Growing investments in the aviation, automotive, and food processing, furniture industries and the presence of major market players drive the demand for CNC cutting machines in this region. The region is mature as far as investment in the automotive industry is concerned. The automotive industry is expecting a considerable investment by several prominent market players due to the rising demand for passenger cars globally. This is expected to drive the CNC cutting machines market in the region. The US holds major share of 78.5% in North American market owing to the increase in the development of commercial and residential infrastructures in the country, which has led to the increased demand for CNC cutting machines.
The CNC cutting machines market in Europe is expected to grow at a notable rate during the forecast period, mainly due to the increase in the adoption of advanced technology and import and export activities in the region. The European market in 2020 is valued at USD XXX million and is projected to register a CAGR of 5.2%. Germany dominates the market in European region. In Middle East & Africa, Saudi Arabia, UAE, Iran, South Africa, and Nigeria are the major contributors to the CNC cutting machines whereas Brazil, Argentina, Chile, and Peru are the countries contributing to CNC cutting machines market in South America.
The global market for CNC cutting machines has witnessed significant growth over the forecast period due to the growing automotive industry. There are several domestic, regional, and global players operating in the CNC cutting machines market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global CNC cutting machines market who have contributed to the market growth. These include Biesse Group, HOMAG Group, Anderson Group, Exel CNC Ltd, MultiCam Inc., Thermwood Corporation, The Shoda Company, ShopSabre, AXYZ Automation Group, Carbide 3D LLC, KOMO Machine, Inc., TRUMPF, ESAB, and Prima Power.
Among these, MRFR has identified top five key players in the global CNC cutting machines market who have contributed to the global market growth.
These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.