Computer numerical control (CNC) Machinery Market : Global Demand Analysis & Opportunity Outlook 2024

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Report ID: 298 | Published On: Feb 13, 2023
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Market Segmentation

Our in-depth analysis segmented the CNC machinery market in the following segments:

By Machine

  • Lathe
  • Mills
  • Grinders
  • Drills
  • Plasma cuter
  • Electric discharge machining
  • Welding
  • Winding machines
  • Shaping machines

By Industries

  • Automobile
  • Aerospace
  • Defense
  • Electronics
  • Health care
  • Metal and mining
  • Embroidery

By Region

Global CNC Machinery Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

CNC Machine market
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Market size and forecast

Computer numerical control (CNC) market is expected to expand at a CAGR of 6.5% over the forecast period i.e. 2017-2024. Moreover, the CNC machinery market stood at USD 52 Billion in 2015 and is further expected to be USD 92 Billion by the end of 2024. The demand for the CNC machines are hiked due to the fact that they are time efficient and refrain by human errors. Rising disposable income in emerging economics and need for mass production in various sectors are the key factors for the growth of CNC market. The use of CNC machine helps the operator to make the changes effectively without wasting time or waste of the resource. CNC can be equipped by lathe machine, grinding machine, welding machine, milling machine and others. In 2015, lathe machine tools accounted for the highest revenue by machine type in the global CNC market. 

CNC Machine market

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Geographically, the global market for computer numerical control is led by Asia-Pacific, with the region accounting for a share of approximately 35% in 2015. Developing economies such as China and India have been witnessing robust growth in terms of industrialization, thereby driving the growth of regional market. The CNC market in the European region is projected to grow at a significant rate, during the forecast period owing to the rise in adoption of technology. Increased efficiency, time effectiveness, and precision & accuracy provided across metal working industries such as automobile and manufacturing industries is expected to drive the CNC market.

Growth Drivers and Challenges

Increase in the use of improvised techniques such as Computer Aided Design (CAD) and Computer Aided Manufacturing (CAM), enhanced capabilities of manufacturers to offer high precision parts and components, and increase in use of CNC machines in various applications owing to their reduction in costs, mass production of products, and high performance drive the growth of the CNC market. With the help of CNC Machine shaping of complex diagonal cuts and curves is possible with high accuracy and quality. It reduces the time between design and production efficiently. It brings high accuracy and speed, which is not easily attainable by labors. Increase in demand of mass production for various applications including electronic part manufacturing, automobile part manufacturing, machining graphite have strengthen the adoption of CNC machining. Innovative developments in technologies and machine tool equipment along with increase in number of application areas such as micro drilling, dispensing, and rapid prototyping are expected to provide numerous opportunities for the growth and development of the CNC market.

The challenge limiting the widespread adoption of the Computer Numerical controls is high installation and maintenance cost. These machines also require expensive tools for operation and they also require a well- trained operator. These machines also require high machining software language which hinders the market growth.       

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Top Featured Companies Dominating the Market

    The key players of CNC Machinery market are as follows:

    • MONDRAGON Corporation (Fagor Automation)
    • FANUC Corporation
    • Heidenhain GmbH
    • Bosch Rexroth AG
    • Sandvik AB
    • Mitsubishi Electric Corporation
    • GSK CNC Equipment
    • Haas Automation
    • Siemens AG
    • Soft Servo Systems

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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