CNC Machine Market Demand Grows by Rising Industry 4.0 Approach Globally
According to Market Research Future (MRFR), the global CNC machine market will reach a valuation of USD 90 BN by 2026, posting a 5% CAGR during the review period (2022-2030). Industry 4.0 fosters market demand, increasing the use of robotics, networked machines, and analytics. There is a vast demand for cutting and grinding tools in the heritage industry, which would support the market growth.
CNC Machine Market Overview
The CNC machine market is growing rapidly, witnessing increasing demand from industries such as aerospace & defense, agriculture, automotive, construction, and electronics. Besides, the rapidly growing tool-making sectors, technological upgrades, and automation to meet customer demands for efficiency gains drive market growth. The market is projected to escalate further in the years to come.
Market Size till 2026
2026: USD 90 BN
5% CAGR (2022-2030)
Key Market Opportunities
Need for 3D and CAD-CAM technology
Modern age technologies
CNC machine reduces the time, labour cost and operational costs
Less working space in small factories
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There is a vast demand for machines that are compact and automatic, therefore, eliminating the need for operators/ supervisors to monitor the machine operations constantly. Moreover, the rising demand for machines that take reduced downtime and require lesser manual labor & lower operational costs to produce components increases the market value.
Despite the promising prospects, the market still witnesses challenges related to services and various strategies. Some of the CNC machining issues restraining the market growth include difficulties in data processing and programming errors due to complex structure, high purchase & repair costs, complexities of material selection, overheating & inappropriate settings of machines, and communication failure.
There is a huge demand for advanced cutting tools due to their features, such as tool simulation using 3D & CAD-CAM technologies and the ability to produce small-size batches, allowing increased flexibility, particularly required for die and molds. Almost all industries need CNC machines to manufacture accurate and complex machining, which is difficult to make using traditional methods.
Manufacturing sectors worldwide are increasingly turning to automation and leveraging advanced software and automation solutions to meet customers' machining needs. Besides, shortage of skilled labor, limits on working hours, and increasing labor costs, alongside the higher demand for quality control, encourage manufacturing companies to add automation beyond in-machine moving towards automating their factories.
The CNC machinemarket is segmented into types, end users, and regions. The type segment comprises lathe, milling, laser, grinding, welding, and winding machines. Of these, the lathe machine type segment accounts for the largest market share due to the large number of multi-axis machines available in the market.
The end user segment comprises aerospace & defense, automotive, construction equipment, industrial, power & energy, and others. Of these, the automotive, power & energy, and industrial segments are the largest end-users of CNC machines, creating vast demand for mass production of low-cost workpieces requiring minimal time. The region segment is bifurcated into the Americas, Asia Pacific, Europe, and rest-of-the-world. Among these, the Asia Pacific region dominates the global CNC machine market.
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APAC stands as the largest market for CNC machines due to its raw material advantage and the availability of cost-competitive workforces. Besides, the growing automation in manufacturing sectors and the rapid industrialization in the region boost the CNC machine market sales. The high product demand from flourishing manufacturing sectors propels regional market growth.
The strong presence of key manufacturers, such as Yamazaki Mazak Corporation, Okuma Corporation, and DMG Mori Co., Ltd., impacts the CNC machine market growth positively. India, China, and Japan are major markets for CNC machines, increasing the region's market share. The APAC CNC machine market is estimated to maintain its leading position in the coming years as well.
North America is another lucrative market for CNC machines. Large advances in CNC technologies and the growing demand for automated manufacturing processes escalate the market value. Also, the increasing application areas and integration of CNC machines with the current manufacturing environment increase market size.
The CNC machine market in Europe demonstrates positive growth. The digital revolution in the region has increased the adoption of CNC machines. Besides, rapid automation of control systems, alongside the spurring rise in automotive and power generation industries in the region, fuel CNC machine market growth. Also, augmenting demand for fuel-efficient vehicles and lightweight automotive components creates substantial market demand.
The highly competitive CNC machine market appears fragmented with the presence of many well-established players. Major industry players take strategic approaches, such as mergers & acquisitions, collaboration, expansion, and product/technology launches. They make strategic investments to drive their research & development activities and expansion plans. Manufacturers strive to provide complete tool management solutions.
For instance, on Aug. 10, 2022, Zimmermann Milling Solutions demonstrated its three new gantry milling machines for precision milling at IMTS 2022. This equipment delivers high thermal stability and rigidity, required for tool-and-die making in aerospace and automotive machining. Three new gantry machines can fit into work areas of different sizes, travels, milling heads, and CNC controls.
Key players leading the CNC machine market are,
- Amera Seiki (US)
- Fanuc Corporation (Japan)
- Amada Co. Ltd. (Japan)
- MG Mori (Germany)
- Dalian Machine Tool Group Corporation (DMTG - China)
- Datron AG (Germany)
- Okuma Corporation (Japan)
- Shenyang Machine Tool Co. Ltd. (SMTCL - China)
- Haas Automation Inc. (US)
- Hurco Companies Inc. (US)
- Yamazaki Mazak Corporation (Japan) and among others.
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