Computer Numerical Control Machines Market Outlook 2031:
The global computer numerical control machines market size was valued at USD 82.24 Billion in 2022 and is projected to reach USD 155.05 Billion by 2031, expanding at a CAGR of 7.3% during the forecast period 2023 - 2031. The growth of the market is attributed to the growing need of minimizing error and operating cost of machine components.
Computer numerical control (CNC) machines are innovative technology that automatically control machine tools by using software embedded in a computer. CNC machines use pre-programed computer-aided design software for automated control of machines and eliminate the need of operator to be present at the time of manufacturing.
Most machines work based on 3-axis control processor and X, Y, and Z axes are fixed accordingly their length of travel with high accuracy. This allows machines to work with range of motions guided by software. As soon as CNC machine is activated, the targeted machine control is programmed into the software and dictated to corresponding machinery and tools, which carry out the tasks as per the commands.
The COVID-19 pandemic had considerable impact on the market. During the pandemic, the rate of installing machines and sales were low due to temporary shutdown of manufacturing units, breakage of supply chain, and trade disruptions. However, the need of CNC machine was escalated due to increased production of medical equipment, sanitizers, and mask amidst the pandemic.
Computer Numerical Control Machines Market Trends, Drivers, Restraints, and Opportunities
- Rising need of production efficiency and mass production across industries are key factors driving the market growth.
- Growing trend of automated machines especially in the manufacturing units of the industrial sector is projected to drive the market expansion during the forecast period.
- Escalating cost of purchase and installation of CNC machines are key restraining factors, which is likely to hamper the market growth during the projected timeline.
- Increasing price of the raw material provided by third party service provider acts as a major challenge that can restrict the market growth in the coming years.
- Integrating of advanced technology such as Internet of Things and Artificial Intelligence (AI) with CNC machine software for automation is projected to create significant growth opportunities for the market.
Scope of the Computer Numerical Control Machines Market Report
The report on the global computer numerical control machines market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Computer Numerical Control Machines Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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End-users (Power & Energy, Aerospace & Defense, Industrial, Automotive, Construction Equipment, and Others), and Types (Welding Machines, Lathe Machines, Laser Machines, Winding Machines, Milling Machines, Grinding Machines, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Amera Seiki Corp.; Datron AG; Dalian Machine Tool Group Corp.; Okuma Corp.; Hurco Companies, Inc.; Amada Co., Ltd.; Fanuc Corp.; DMG Mori; Haas Automation, Inc.; Yamazaki Mazak Corp.; and Shenyang Machine Tool Co., Ltd.
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Computer Numerical Control Machines Market Segment Insights
Industrial segment is expected to grow at a rapid pace
Based on end-users, the global computer numerical control machines market is divided into power & energy, aerospace & defense, industrial, automotive, construction equipment, and others. The industrial segment is expected to grow at a rapid pace during the forecast period attributed to growing technological advancements such as robotics, AI, and Machine Learning (ML).
These advancements are leading to automated and efficient production in the industrial sector. However, the automotive segment is anticipated to expand at a substantial CAGR during the forecast period due to growing product demand from manufactures for mass production in minimal cost and time. Furthermore, key players in the automotive sector are installing CNC machines for high volume production, which is projected to accelerate the segment growth further.
Myriad number of applications drive the lathe machine segment
On the basis of types, the market is segmented into welding machines, lathe machines, laser machines, winding machines, milling machines, grinding machines, and others. The lathe machines segment is expected to account for a major market share during the projected timeline owing to ease of operation and their myriad number of applications.
Moreover, the recent variation in lathe machines include five to six control process that can be used for providing better finish and producing fine cuts. On the other hand, the laser machine segment is projected to expand a considerable CAGR during the forecast period due to growing demand of digitalization in manufacturing process and automated metal cutting process.
Asia Pacific is anticipated to constitute a key market share
In terms of region, the global computer numerical control machines market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to supportive government initiatives for spreading awareness about latest technologies in manufacturing.
Moreover, the presence of major key players in the region is further accelerating the market growth. However, the North America market is anticipated to grow at a rapid pace during the forecast period due to rising use of machine tools for metal working facilities and increasing adoption of advanced technologies by major economies in the region.
Segments
The global computer numerical control machines market has been segmented on the basis of
End-users
- Power & Energy
- Aerospace & Defense
- Industrial
- Automotive
- Construction Equipment
- Others
Types
- Welding Machines
- Lathe Machines
- Laser Machines
- Winding Machines
- Milling Machines
- Grinding Machines
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Amera Seiki Corp.
- Datron AG
- Dalian Machine Tool Group Corp.
- Okuma Corp.
- Hurco Companies, Inc.
- Amada Co., Ltd.
- Fanuc Corp.
- DMG Mori
- Haas Automation, Inc.
- Yamazaki Mazak Corp.
- Shenyang Machine Tool Co., Ltd.
Competitive Landscape
Key players competing in the global computer numerical control machines market are Amera Seiki Corp.; Datron AG; Dalian Machine Tool Group Corp.; Okuma Corp.; Hurco Companies, Inc.; Amada Co., Ltd.; Fanuc Corp.; DMG Mori; Haas Automation, Inc.; Yamazaki Mazak Corp.; and Shenyang Machine Tool Co., Ltd.
Companies are focusing on investment in R&D for new product development and update existing product portfolio to boost their market share. Furthermore, companies are widely engaging in strategic partnership and merger & acquisitions to develop technological advance CNC machines for acquiring new buyers or expand their consumer base worldwide.
For instance, in April 2019, Preferred Networks, Inc. in collaboration with Fanuc Corp. developed an AI Servo Monitor that allowed to gather control data from feed axis and spindle axis with fast sampling.
In January 2020, Amada Co., Ltd. established an R&D facility entitled Amada AI Innovation Laboratory Inc. (AAIIL) in Tokyo, Japan. The aim of R&D facility was to carry out research activities to acquire cutting-edge technology based on AI and surge the company's growth.