CNC Machinery Market Size & Forecast 2032
The Global CNC Machinery Market size was valued at USD 66.5 billion in 2020 and is projected to reach USD 130.1 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
CNC machinery comes under the category of machine tools, which is programmed to cut, drill, mill, grind, and remove material form metallic workpiece by the process of shear deformation. rapid industrialization in developing countries such as India, Vietnam, Thailand, Indonesia, China, Brazil, has boosted the growth of various industries such as automotive, manufacturing, and aerospace & defense industries. This, in turn, is expected to boost the demand for CNC machinery during the forecast period.
However, slow growth in the manufacturing sector is a key restraint, which is expected to hinder the growth of the market during the forecast period. In addition, lack of skilled personnel to operate CNC machinery and rise in daily wages hamper the growth of CNC machinery market.
The aviation & aerospace industry showed significant growth in the past, and it is expected to grow significantly in the future. For instance, in September 2020, Federal Aviation Administration (FAA) which comes under the U.S. Department of Transportation, released a report, according to which, international revenue passenger miles (RPMs) are expected to grow by 2.3% annually from 2020 to 2040. This is expected to accelerate the precision ball screw market during forecast period.
The demand for CNC machinery decreased in the year 2020 as compared to the previous year, owing to low demand from different industries due to lockdown imposed by government of many countries. During the COVID-19 pandemic, the production of various products in the metal cutting industry were halted, mainly owing to prolonged lockdown in major global countries. This hampered the CNC machinery market growth. The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is severely affected by the spread of corona virus, thereby halting demand for equipment and machinery in 2020. Equipment and machinery manufacturers started focusing on protecting their workforce, operations, and supply chains to respond toward immediate crises and after COVID-19 pandemic.
The CNC machinery market is segmented into type, application, sales channel, and region.
On the Basis of Type:
The market is categorized into lathe machines, milling machines, grinding machines, drilling machine, laser machines, and others. In 2020, the milling machine segment dominated the global CNC machinery market, in terms of revenue, and laser machine is expected to maintain this trend in the coming years.
By Application:
The market is classified into automotive, construction equipment, aerospace & defense, power & energy, industrial machinery, and others. The automotive segment was the highest revenue contributor to the market with a CAGR of 4.7%.
By Sales Channel:
The market is divided into original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer (OEM) segment was the highest revenue contributor to the market, with a CAGR of 5.5%. The aftermarket segment is estimated to reach a CAGR of 6.0% during the forecast period.
By Region:
The CNC machinery market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is expected to hold the highest market share during the forecast period. Asia-Pacific and LAMEA are expected to witness considerable CAGRs of 6.4% and 5.8%
Major players have adopted product launch as a key developmental strategy to improve the product portfolio of CNC machinery market. For instance, in February 2023, DMG Mori Co., Ltd. launched a 5-axis machining center. This machine is based on the DMU 50 3rd Generation and features best-in-class components as well as preparation for automated production. Similarly, in May 2023, DMG Mori Co., Ltd. launched Lasertec 30 SLM US. The launch of the LASERTEC 30 SLM US comes in the 40th anniversary year of DMG MORI USA. In January 2022, FANUC Corporation launched automated CNC milling machine for schools, colleges, universities, independent training centers, and OEM training facilities. The new FANUC educational package combines the company’s machine tool and collaborative robot technologies.
Rapid surge in automation capabilities in the manufacturing sector and rise in penetration of innovations and advanced technologies in machine tools industry are expected to fuel the market growth. CNC machinery is widely used in manufacturing activities of machinery and equipment. These CNC machineries are gaining popularity with the growing inclination of industries with automated systems. Furthermore, growth in automotive sector in the developing countries such as China and India is expected to boost the growth of the market. Industrialization has increased due to development in transportation, high immigration, new inventions, and high investment, majorly in Asia-Pacific, thereby fueling the demand for machinery and other equipment. Thus, increasing the demand for CNC machinery.
Moreover, the growing focus on infrastructure development and construction activities in the Middle East and Africa is expected to drive demand for construction equipment, which will in turn positively impact the lathe machinery market. For instance, in March 2021, Samsung which is a world leading tech company announced to build educational tablet plant with an investment of around $30 million in South of Cairo, Egypt. These kinds of electronics plants establishment expected to increase the demand for High-Tech CNC Lathes. All such factors drive the growth of the CNC machinery market in LAMEA region.
Competition Analysis
The key players profiled in the CNC machinery market report include Amada Machine Tools Co., Ltd., Amera Seiki, DMG Mori Co., Ltd., General Technology Group, Dalian Machine Tool Co., Ltd., Datron AGFANUC Corporation, HAAS AUTOMATION, INC., Hurco Companies, Inc., Okuma Corporation., and Shenyang Machine Tool Part Co., Ltd.
Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging global CNC machinery market trends and dynamics.
- In-depth market analysis is conducted by the global CNC machinery market estimations for key market segments between 2020 and 2032.
- Extensive CNC machinery market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing CNC machinery market opportunity.
- The global CNC machinery market forecast analysis from 2023 to 2032 is included in the report.
- The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the CNC machinery industry.
CNC Machinery Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 130.1 billion |
 Growth Rate | CAGR of 5.6% |
 Forecast period | 2020 - 2032 |
 Report Pages | 189 |
 By Type |
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 By Application |
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 By Sales Channel |
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 By Region |
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 Key Market Players | Amada Machine Tools Co., Ltd., DMG Mori Co., Ltd., Hurco Companies, Inc., General Technology Group Dalian Machine Tool Co., Ltd., Shenyang Machine Tool Part Co., Ltd., Datron AG, HAAS AUTOMATION, INC., FANUC Corporation, Okuma Corporation., Amera Seiki |
Analyst Review
The CNC machinery market has witnessed significant growth in the past few years, owing to a surge in automotive and industrial machinery industrial development activities. The rise in demand for cost effective and precise machining tools in countries such as the U.S., Canada, the UK, Germany, and China has fueled the growth of the CNC machinery market. Furthermore, growth in infrastructure projects is positively influencing the construction equipment manufacturer’s growth, which in turn will positively influence the CNC machinery market. Moreover, integration of the latest advanced technologies provides lucrative opportunities for the growth of the market.
In addition, the increasing popularity of CNC machines is an element for market growth. This is often attributed to the benefits offered by CNC lathes and milling machines including high efficiency, transparency, cost saving and time efficiency. In addition, the growing market landscape, cutter companies have strengthened their efforts to develop and manufacture more advanced designs to satisfy increased customer demands. Moreover, advances in workpiece manufacturing technologies such as metal injection molding, 3D printing, investment casting and shut tolerance forging propel the market expansion during the forecast period.
Popularity and technological advancements in additive manufacturing and growth of the automotive and aerospace industry are the upcoming trends of CNC Machinery Market in the world.
The applications include automotive, construction equipment, aerospace and defense, power and energy, industrial machinery, and others.
Asia-Pacific is the largest regional market for CNC Machinery Market
The global CNC machinery market size was valued at $66,535.6 million in 2020
The key players profiled in the CNC machinery market report include Amada Machine Tools Co., Ltd., Amera Seiki, DMG Mori Co., Ltd., General Technology Group, Dalian Machine Tool Co., Ltd., Datron AGFANUC Corporation, HAAS AUTOMATION, INC., Hurco Companies, Inc., Okuma Corporation., and Shenyang Machine Tool Part Co., Ltd
The global CNC machinery market size is projected to reach $130,136.7 million by 2032, registering a CAGR of 5.6% from 2023 to 2032
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Based on type, the milling machines segment holds the maximum market share of the market in 2020
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