Computer Numerical Control (CNC) Machine Market Size Worth $152.68 Billion By 2032 | CAGR: 10.0%

Computer Numerical Control (CNC) Machine Market Size Worth $152.68 Billion By 2032 | CAGR: 10.0%

The global computer numerical control (CNC) machine market size is expected to reach USD 152.68 billion by 2032, according to a new study by Polaris Market Research. The report “Computer Numerical Control (CNC) Machine Market Share, Size, Trends, Industry Analysis Report, By Type (Milling, Lathe, Grinding, Welding, Winding, Laser, and Others); By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rise in demand for automated, high-precision computer numerical control (CNC) machines may be attributed to the expansion, which is expected to propel market growth throughout the course of the projected period. The preference for 4-axis and 5-axis machines over traditional three-axis machines is also anticipated to favor market expansion over the coming years.

For the OEMs, a lack of trained personnel and rising labor costs in developed nations, notably in Europe and the United States, have been their top priorities. Therefore, during the course of the projected period, there will likely be a demand for automated CNC machines due to the necessity for automated machines in the metalworking and other general manufacturing industries. Over the coming years, it is also anticipated that rising raw material costs and a lack of components due to supply chain disruptions may restrain market expansion.

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OEMs are modernizing their product offerings from the supply side by strengthening their technical skills with the most recent CAD/CAM software solutions. Additionally, the tendency is expected to boost market expansion during the anticipated time frame. OEMs can provide consumers with the ability to create completed goods without defects, increase productivity, and hasten the creation of complicated product designs in a shorter amount of time to the integration of CAD/CAM software with CNC machines. In this area, CNC makers and software providers work together to expand their current product offerings.

For instance, in December 2020, 5-axis Post Processor for CNC machines from FANUC Corporation was created by CNC Software Inc., one of the CAD/CAM software solution suppliers (now a part of Sandvik Group). With the help of CNC machines and equipment, clients of Fanuc Corporation are expected to boost their productivity.

Computer Numerical Control (CNC) Machine Market Report Highlights

  • Lathe machine segment dominated the global industry in terms of revenue. The need for CNC lathe machines to produce customized components including cylinder heads, starter motors, gearboxes, and other prototype applications is anticipated to increase from the automobile industry.
  • The automotive segments held the largest share. The demand for automobile manufacturers by relaxing time to carry out jobs of mass production over forecast period is portending growth for CNC Machines Market.
  • Asia Pacific generated the highest revenue in 2022 and will do so throughout the forecast period. The presence of industries that are increasing, such as agriculture, healthcare, finance, construction, and automotive, as well as a focus on R&D projects and a rising need for automation, are the main drivers of growth. Rapid industrialization and the massive growth of the manufacturing sector are key factors in the region's success.
  • The global key market players include Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, GSK CNS Equipment Ltd., Amada Machine Tools Co. Ltd., Haas Automation, Inc., DMG Mori Co., Ltd., Heldenhain GmbH, Sandvik AB, Bosch Rexroth AG, Soft Servo Systems, Inc., and Yamazaki Mazak Corporation among others

Polaris Market Research has segmented the computer numerical control (CNC) machine market report based on type, application, and region:

Computer Numerical Control (CNC) Machine, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Milling
  • Lathe
  • Grinding
  • Welding
  • Winding
  • Laser
  • Others

Computer Numerical Control (CNC) Machine, Application (Revenue - USD Billion, 2019 - 2032)

  • Industrial
  • Automotive
  • Aerospace and Defense
  • Electronics
  • Others

Computer Numerical Control (CNC) Machine, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa