Computer Numerical Control (CNC) Machines market

Computer Numerical Control (CNC) Machining is the largest segment driving the growth of Computer Numerical Control (CNC) Machines market

by

The global Computer Numerical Control (CNC) Machines Market is estimated to be valued at US$ 67.48 Bn or in 2022 and is expected to exhibit a CAGR of 9.7% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Computer Numerical Control (CNC) machines allow complex and precise machining operations through automated tools. They provide flexibility, precision and repeatability in manufacturing processes across industries like automotive, aerospace and general machinery.

Market key trends:
Adoption of advanced technologies like Internet of Things (IoT) and artificial intelligence (AI) in CNC machines is one of the major trends witnessed in the market. Integration of these technologies enables functions like predictive maintenance, remote monitoring and analytics. This improves productivity, reduces downtime and maintenance costs of CNC machines. Many machine tool manufacturers have launched machines integrated with IoT and AI capabilities to offer advantages like higher output, lower operating costs and improved efficiency to end-use industries.
Market key trends:
The global CNC machines market has been witnessing significant growth over the past few years, driven by increasing automation across various manufacturing industries. The trend of adopting flexible and automated manufacturing technologies has been steadily rising. With CNC machines allowing for precision cutting and machining, their demand has increased from industries such as automotive, aerospace and metal fabrication. Manufacturers are also favoring CNC machines as they provide consistency and scalability in production processes. The growing complexity of design and workflow in manufacturing has further fueled the need for advanced CNC systems.

SWOT Analysis
Strengths: Precision and accuracy of machining; Reduced labor costs; Increased productivity and efficiency; Scalable and flexible operations.
Weaknesses: High initial investment; Require skilled workforce to operate; Complex programming for complex parts.
Opportunities: Growth of automation in manufacturing; Rising demand from industries like electronics, medical; Customization and mass production capabilities.
Threats: Threat of substitutions from 3D printing; Economic slowdowns affecting investment; Stiff competition among market players.

Key Takeaways
The global Computer Numerical Control (CNC) Machines Market Share is expected to witness high growth, exhibiting CAGR of 9.7% over the forecast period, due to increasing automation and flexibility needs of manufacturing industries.

The Asia Pacific region dominated the global CNC machines market in 2022, with China and India being the key markets. Asia Pacific is expected to continue its lead, driven by strong presence of manufacturing industries, rising number of industrial factories and growing capital investments in automation.

Key players operating in the CNC machines market are Hurco Companies Inc., Protomatic Inc., Metal Craft, AMS Micromedical LLC, JTEKT Corporation, Haas Automation, Fanuc Corporation, Siemens AG, DMG Mori Seiki Co. These players are focused on bringing advanced technologies like IoT connectivity, cloud-based services and predictive maintenance to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it