CNC Machine Market Size was valued at USD 79,691.5 Billion in 2023. The CNC Machining market industry is projected to grow from USD 83,676.1 Billion in 2024 to USD 1,23,627.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.0% during the forecast period (2024 - 2032). Increased demand for the CNC machine in different mass production industries and evolving advanced technology are the key market drivers enhancing the growth of market.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for CNC machines is being driven by the rising demand for CNC Machine Market from different industries. CNC systems are being utilized by mass production plants to increase their capacity to produce very precise parts and components. The demand for different industrial equipment and devices like semiconductor manufacturing equipment, electric vehicles, and telecom communication devices is boosting the growth of the CNC Machine Market. Further, the rising utilization of industrial automation in the manufacturing sector globally.
A variety of procedures used in CNC for creating standardized components using machine tools like CAD and CAM are completely interchangeable, and the use of CNC in manufacturing facilities in the cost reduction and also significantly enhances the productivity and the quality of products. Therefore, all these factors have an impact on the development of industrial sections like automotive and aerospace, and military and give a profitable market potential for CNC machines. The manufacturing sectors are largely adopting industrial automation systems, which are driven by the rising significance of real-time data for process modeling and predictive maintenance in the manufacturing sectors. These machines also enhance the manufacturing processes' quality, uniformity, safety, and accuracy. The rising demand for service quality, simplicity, and efficiency has caused in growing inclination toward process automation. Thus, they are adopting various digital technologies like AI and IoT.
Automated CNC systems are being greatly adopted with industrial robots and simulation software to improve production. The adoption of these machines is mainly encouraged by the requirement to overcome the challenges faced by the scarcity of skilled workers in different industries. This helps manufacturers to enhance efficiency and increase production output, In order to meet this demand, key market players like Fanuc Corporation and OKAMA America Corporation are emphasizing integrating new technologies into their existing portfolio of products. Thus, driving the CNC Machining tool market revenue.
However, maintenance of proper functioning of these machines and maintaining high-tech prices is important for manufacturers. Further, there is a requirement for proper training and machinist to operate the machines. All these factors may become a restraining factor for the market growth of the CNC machines.
The CNC Machine market segmentation, based on type, includes Metal Cutting and Metal Forming. The metal-cutting segment dominated the market, accounting for the largest market revenue due to their high accuracy, time, and focus on energy efficiency. The increased demand for electrochemical machining leads to the growth in demand for the metal cutting segment due to the several benefits of electrochemical machining and micromachining for enhanced surface integrity in several applications, like stress-free drilled holes in the automotive sector and complex shape production in the aerospace industry. Further, the high demand for optimal performance with better precision and control is anticipated to boost the growth of the metal-forming segment.
Figure 1: CNC Machine Market by Type, 2024 & 2032 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The CNC Machine market segmentation, based on application, includes Automotive, General Machinery, Precision Engineering, Transport Machinery, and Others. The automotive category dominates the market owing to the rising demand for faster manufacturing of highly efficient parts in the sector of automotive. These machines has the capacity to produce different parts, including suspension components, combustion engine of a car, exhaust, lights, bushings, fluid system components, and valve retainers. The automotive section requires high accuracy, precision, minimized operational time, and repetitive tasks without discrepancies, leading to the increased penetration of CNC machines in this sector. Further, high-precision engineering is the fastest-growing segment due to the rising demand from the medical, aerospace, and defense section.
By region, the study offers market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific CNC Programming market area dominates the market with the increasing demand for precision products in short lead-time resulting in the increased adoption of CNC machines. The mass manufacturing of complex applications in the medical, aerospace, and semiconductor industries is expected to increase the growth of the CNC machine tools market in the Asia Pacific region.
Further, the prime countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.
Figure 2: Cnc Machine Market Share By Region 2022 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
North American CNC Machine market accounts for the second-largest market share due to the rising adoption of advanced technology and the growing adoption of machine tools for metalworking facilities in different parts of the region. Further, the US CNC Machining market held the largest market share, and the Canadian CNC Machine tool market was the rapid-growing market in the European region.
The European CNC Machine Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the labor shortage that will force metalworking companies to increase their automation expenditure. Moreover, the German Computer Numerical Control Machine market held the largest market share, and the UK CNC Machine industry was the rapid-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the CNC Machine market grow even more. Market players are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. In order to expand and survive in a more competitive and rising market climate, the CNC Machine industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the CNC Machine Market to benefit clients and increase the market sector. In recent years, the CNC Machine industry has offered some of the most significant advantages to technology. Major players in the CNC Machine industry, including Siemens AG, Bonsai Technologies Private Limited, Ramco Specialties Inc., Versatech LLC, Sandvik, Yamazaki Mazak Corporation, Amada Machine Tools Co. Ltd, Okuma Corporation, ANCA Group, Hyundai WIA, Komatsu Ltd., and others, are attempting to increase market demand by investing in research and development operations.
Siemens AG is a German multinational technology company whose operations encompass automation and digitalization in the manufacturing and processing industries, distributed energy systems, intelligent infrastructure for buildings, digital healthcare services, and health technology. The company is one of the leading industrial manufacturing companies in Europe and is the leader in automation and industrial software. In April 2019, a new version of the software tool was launched by the company to plan and stimulate automation networks on the market. Sinetplan V2.0 helps the plant planner, operator, and builders of the automation system. The company aims to showcase its new features that integrate into the digital planning and engineering workflow at Hannover Messe 2019.
Bonsai Technologies Private Limited is a company that develops technology solutions that improve productivity on job sites and attain a competitive advantage in the industry. It provides easy-to-use systems and complete solutions dependent on artificial intelligence from design to execution and deployment. In May 2018, Bonsai and Siemens developed artificial intelligence on a actual-world machine in a test environment which, as the first-time deep augmentation learning had been successfully useful to auto-calibrate real-world computer numerical control machines. An AI model was trained by experts of Siemens using the AI platform of Bonsai for auto-calibrating a CNC machine more than thirty times faster than expert human operators.
March 2022:Ramco Specialties Inc, a company that manufactures critical components throughout the market of the US, recently increased its potential of manufacturing facilities via procurement of tight-tolerance CNC equipment. This installation is anticipated to inspire other important component manufacturers within the area to obtain this state-of-the-art equipment for manufacturing.
January 2022:The acquisition of Versatech LLC, the company that operates as a prominent manufacturer of CNC machine solutions, was announced by MES Inc. This acquisition will increase the intentions of MES Inc to expand its prominence in the last-mile manufacturing industry.
August 2021:Sandvik acquired CNC Software Inc, which is engaged in developing and distributing CAD/CAM software solutions for diverse players operating in the manufacturing industry. The company will now function under the planning & design automation division of Sandvik.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 79,691.5 Billion |
| Market Size 2024 | USD 83,676.1 Billion |
| Market Size 2032 | USD 1,23,627.6 Billion |
| Compound Annual Growth Rate (CAGR) | 5.0% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil |
| Key Companies Profiled | Siemens AG, Bonsai Technologies Private Limited, Ramco Specialties Inc., Versatech LLC, Sandvik, Yamazaki Mazak Corporation, Amada Machine Tools Co. Ltd, Okuma Corporation, ANCA Group, Hyundai WIA, Komatsu Ltd. |
| Key Market Opportunities | Increasing number of mass production plants across the world. |
| Key Market Dynamics | Increased demand for CNC machines in the manufacturing industries. |
CNC Machine Market Highlights:
Frequently Asked Questions (FAQ) :
The global CNC Machine market size was valued at USD 79,691.5 Billion in 2023.
The global market is foreseen to grow at a CAGR of 5.0% throughout the forecast period, 2024-2032.
Asia Pacific had largest share of the global market
The key players in market are Siemens AG, Bonsai Technologies Private Limited, Ramco Specialties Inc., Versatech LLC, Sandvik, Yamazaki Mazak Corporation, Amada Machine Tools Co. Ltd, Okuma Corporation, ANCA Group, Hyundai WIA, and Komatsu Ltd.
The metal-cutting category dominated the market in 2022.
Automotive had the largest share of the global market.
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