CNC Machine Market Trend, Share, Growth, Size and Forecast 2030

CNC Machine Industry Prospective:

The global CNC machine market size was evaluated at $61 billion in 2022 and is slated to hit $133 billion by the end of 2030 with a CAGR of nearly 10.4% between 2023 and 2030.

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CNC Machine Market: Overview

CNC machine also referred to as a computer numerical control machine is an automated control of a slew of tools, equipment, machines, and 3D printers and it controls the former with the help of a computer device. In modern CNC systems, the execution of both the design and manufacturing of machine components on any other mechanical part is totally automatic. In addition to this, CNC machines have garnered huge importance owing to their ability in offering cutting-edge advantages such as real-time performance, precision, and significant cost savings to the end-users.

Key Insights

• As per the analysis shared by our research analyst, the global CNC machine market is projected to expand annually at the annual growth rate of around 10.4% over the forecast timespan (2023-2030)
• In terms of revenue, the global CNC machine market size was evaluated at nearly $61 billion in 2022 and is expected to reach $133 billion by 2030.
• The global CNC machine market is anticipated to grow rapidly over the forecast timeline owing to escalating demand for mass producing units and the need for automating manufacturing procedures.
• In terms of type, the metal cutting segment is slated to register the highest CAGR over the analysis period.
• Based on end-user, the automotive segment is expected to dominate the segmental growth in the upcoming years.
• Region-wise, the North American CNC machine industry is projected to register the fastest CAGR during the assessment timeline.

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CNC Machine Market: Growth Factors

Humungous demand for automatic production of goods to steer the global market size over 2023-2030

Escalating demand for mass-producing units and the need for automating manufacturing procedures will drive the growth of the CNC machine market across the globe. Moreover, CNC machines have the ability to execute complicated tasks with precision as well as consistency, thereby driving global market trends. In addition to this, large-scale product applications in enhancing the efficiency of electronics, automotive, and aerospace equipment will embellish the expansion of the global market in the years ahead. Additionally, technological breakthroughs will further scale up the market space in the years to come. Integrating IoT and AI will enhance the capability of CNC machines, thereby steering the global market elevation.  Mergers & acquisitions are trying to play a key role in leveraging the expansion of the global market in the years ahead. For instance, in the second half of 2021, MES Inc., a key manufacturer of die castings, extrusions, and machining, acquired Versatech, LLC, a key producer of CNC machines. The strategic move is likely to boost the expansion of the global market in the years ahead.  

 CNC Machine Market: Restraints

Need for heavy funding for manufacturing CNC machines can halt the growth of the global industry

Rise in the capital investments along with the lack of availability of skilled workforce for monitoring CNC machines can restrict the CNC machine industry expansion across the globe. High product costs in comparison to manually-operated equipment can impede the expansion of the global industry.

CNC Machine Market: Opportunities

Increment in the production of the equipment can open new growth opportunities for the global market over forecast period

Increase in the economies of scale in producing CNC machines by various manufacturers will create new vistas of growth for the CNC machine market globally. 

CNC Machine Market: Challenges

Increase in the maintenance costs of CNC machines can ramp down the growth of the industry globally

Surge in the costs of maintaining CNC machines and insufficient training provided to the persons for effectively handling these machines can pose a huge threat to the expansion of the global CNC machine industry in the years ahead.

CNC Machine Market: Segmentation

The global CNC machine market is sectored into type, application, and region.                

In type terms, the global CNC machine market is segregated into metal forming and metal cutting segments. Furthermore, the metal cutting segment, which amassed nearly three-fourths of the global market revenue in 2022, is projected to register the fastest growth rate in the forecasting years. The growth of the segment during the prognosis timeline can be due to the large-scale use of CNC metal cutting equipment in various end-use industries as a result of their high accuracy and energy-conserving features. Apart from this, metal cutting finds a plethora of applications in the automotive and aerospace sectors.

Based on the application, the global CNC machine industry is sectored into transport machinery, automotive, precision engineering, and general machinery segments. Moreover, the automotive segment, which garnered a major chunk of the global industry share in 2022, is estimated to dominate the global industry over the projected period. The segmental expansion over the assessment timeline can be due to surging demand for swift & large-scale production of effective automotive components. Apart from this, a rise in the automation of the production processes will steer the segmental surge in the years to come.

CNC Machine Market: Report Scope

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CNC Machine Market: Regional Insights

Asia-Pacific is predicted to retain its leadership position in the global CNC machine market over the analysis timeline

Asia-Pacific, which contributed about 65% of the global CNC machine market revenue in 2022, will establish regional domination over the projected time interval. Additionally, the regional market expansion during 2023-2030 can be a result of a large-scale preference for precision tools for reducing the lead time. In addition to this, the rise in the manufacture of CNC machines in the automotive, aerospace, medical, and semiconductor sectors will steer the regional market demand.

North American CNC machine industry is set to register the fastest CAGR in the upcoming timespan and this can be ascribed to the rise in the use of new technologies in the automotive sector in countries such as the U.S. Additionally, increment in the acceptance of CNC machines in metalworking activities will promulgate the scope of the industry growth in the sub-continent in the years to come.

CNC Machine Market: Competitive Space

The global CNC machine market profiles key players such as:

• AMADA MACHINERY CO. LTD.
• DMG MORI CO. LTD.
• Amera Seiki
• FANUC CORPORATION
• Shenyang Machine Tool Part Co. Ltd.
• YAMAZAKI MAZAK CORPORATION
• General Technology Group Dalian Machine Tool Corporation
• OKUMA Corporation
• Hurco Companies Inc.
• Haas Automation Inc.
• DATRON AG.

The global CNC machine market is segmented as follows:

By Type

• Metal Forming
•  Metal Cutting

By Application

• Transport Machinery
• Automotive
• Precision Engineering
• General Machinery

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa