The global computer numerical control machines market size is projected to reach USD 132.93 billion by 2030, registering a CAGR of 10.2% from 2022 to 2030, according to a new study by Grand View Research, Inc. The market demand is expected to reach over 2,800 thousand units by 2030. The growth can be ascribed to an increase in the need for automated and high-precision computer numerical control (CNC) machines, which is anticipated to drive market growth over the forecast period. Growing preference from conventional three-axis machines to 4-axis and 5-axis machines are also expected to bode well for the market growth over the next few years.
Computer Numerical Control Machines Market Report Highlights
- By 2030, the demand for milling machines is anticipated to reach around 500 thousand units. The growth can be attributed to the rising popularity of multi-axis milling machines in the aerospace and automotive industries
- Increasing demand for electric vehicles is expected to create the need for CNC machines in the automotive segment. Hence, the segment is expected to register a CAGR exceeding 12% over the forecast period
- The rapid growth in the industrial sector, notably the metalworking and semiconductor manufacturing industries, is projected to drive growth in the Asia Pacific regional market. It is projected to record the highest CAGR of 13.0% from 2022 to 2030
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Shortage of skilled expertise and increasing labor costs in developed economies, particularly in Europe and the U.S., have been primary concerns for the OEMs. Therefore, the need for automated machines in metalworking and other general manufacturing industries is likely to create the demand for automated CNC machines over the forecast period. Increasing raw material prices and shortage of components owing to supply chain disruptions are also presumed to hinder the market growth over the next few years.
From the supply side, OEMs are upgrading their product offering by improving technical capabilities with Computer-Aided Design & Computer-Aided Manufacturing (CAD/CAM) latest software tools. The trend is also presumed to support market growth over the forecast period. The integrated CAD/CAM software with CNC machines enable OEMs to offer customers to manufacture defect-free finished products, improve productivity, and accelerate the production of complex product designs at reduced time. CNC manufacturers and software vendors collaborate in this space to enhance their existing product portfolio. For instance, in December 2020, CNC Software Inc., one of the CAD/CAM software solutions providers (now part of Sandvik Group), developed 5-axis Post Processor for FANUC Corporation’s CNC machines. The product launch envisages Fanuc Corporation’s customers to increase their productivity using CNC machines tools.
Computer Numerical Control Machines Market Share By Region
The Asia Pacific region accounted for more than 35% of the overall market share and is expected to remain at the top spot over the forecast period. The market demand is attributed to the surge in manufacturing outsourcing services for industrial equipment, the abundance of low-cost raw materials, and low operational costs that drive the demand for manufacturing outsourcing, thereby increasing the number of CNC machines sales over the forecast period. Europe is expected to register a 9% CAGR over the forecast period. The growth is driven by Germany, Italy, France, and Central and Eastern European countries.
Industry Analysis By Major Companies
The CNC machines market is turning out to be competitive. The market is characterized by a few established manufacturers and several small-scale regional manufacturers. Fluctuating raw materials prices and supply chain disruption are some of the short-term challenges experienced by OEMs. Moreover, these fluctuations increase the operational costs for manufacturers relying on a limited number of suppliers and force them to price their products. Some of the prominent players operating in the global computer numerical control machines market are:
- Dalian Machine Tool Group (DMTG) Corporation
- Haas Automation, Inc.
- Okuma Corporation
- Fanuc Corporation
- Datron AG
- Amada Co., Ltd.
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Computer Numerical Control Machines Market Segmentation
Grand View Research has segmented the global computer numerical control machines market based on type, end-use, and region:
- CNC Machines Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 – 2030)
- CNC Machines End-use Outlook (Revenue, USD Billion, 2018 – 2030)
- CNC Machines Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 – 2030)
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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