PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419081
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419081
Computer Numerical Control Machines Market size was valued at USD 60,920 Million in 2022, expanding at a CAGR of 10.3% from 2023 to 2030.
Without the need for manual machining, numerical control allows machines to make goods more quickly and with superior surface finishes. Tools like drills, lathes, mills, grinders, routers, and 3D printers are all operated by it. The manufacturing sector relies heavily on CNC machines, which stand for computer numerical control.
The computer numerical control (CNC) machines are widely used to automate manufacturing processes is the reason for their widespread acceptance. Human error and labor expenses can be decreased by using computer numerical control equipment, which can perform complex jobs with high precision and consistency. These devices have the capacity to operate nonstop, around-the-clock, greatly increasing productivity and efficiency across a range of sectors, including electronics, automotive, and aerospace. With the addition of multi-axis capabilities, faster spindle speeds, more sophisticated tooling options, and real-time monitoring systems, these machines are becoming increasingly sophisticated. The amalgamation of Artificial Intelligence (AI) with Internet of Things (IoT) technology amplifies their potential, permitting data-driven optimizations, adaptive machining, and predictive maintenance. Thus, high demand from manufacturing industries is expected to boost the CNC machines market growth.
The Global Computer Numerical Control Machines Market is segmented on the basis of Type, Application, End-User, and Region.
The market is divided into six categories based on Type: lathe machines, milling machines, laser machines, grinding machines, welding machines, and others. The lathe machines segment dominates the market. The increasing technological advancement in CNC lathe system is boosting segment growth.
The market is divided into four categories based on Application: general machinery, precision engineering, transport machinery, and others. The general machinery segment dominates the market and is likely to maintain its dominance during the forecast period. The growing emphasis on industrial automation is mainly boosting machinery demand.
The market is divided into six categories based on End-User: automotive, industrial manufacturing, aerospace & defense, construction, power & energy, and others. The industrial manufacturing segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand for automobile production and improved efficiency is fueling the market growth.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The market for CNC machines is becoming more and more competitive. A small number of well-known producers and numerous regional small-scale manufacturers define the market. To both attract and keep current customers, industry leaders Fanuc Corporation, DMG Mori Co. Ltd., and Okama are making significant investments in research and development to launch novel, cutting-edge, high-precision machine tools and expand into new application in CNC machinery. For example, in February 2021, CITIZEN MACHINERY CO., LTD. announced the launch of a Sliding Headstock Type Automatic CNC Lathe machine named Cincom L32 XII.
In March 2023, AMADA PRESS SYSTEM CO., LTD. revealed the LM-16A, a state-of-the-art wire rotation torsion spring machine equipped with a wire-rotating mechanism.
The scope of this report covers the market by its major segments, which include as follows: