CNC Machine Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Lathe Machine, Milling Machine, Router Machine, Laser Cutting Machine, Plasma Cutting Machine, 3D Printer, Pick And Place Machine, 5-Axis Machine), By Industry Vertical (Aerospace And Defense, Energy & Power, Automotive, Manufacturing, Others), And By Geography - Forecasts From 2021 To 2026

The CNC machine market is projected to grow at a CAGR of 8.41% to reach US$90.906 billion by 2026, from US$52.564 billion in 2019. CNC machines are electromechanical devices that use computer programming inputs to control machine shop equipment. CNC machines use a computerized control system in which various machine components like controllers, sensors, and programmable logic controller (PLC) drives are linked via a network for communication and management. The increased use of automated production, particularly in the industrial and automotive sectors, is projected to drive the expansion of the worldwide computer numerical control market. The increasing need for higher efficiency in complicated machining goods by industries is likely to boost the market growth. Furthermore, growth in demand for high accuracy and lower operating costs, as well as technical improvements in manufacturing processes, all have an impact on the popularity of CNC tools. Furthermore, the increase in mass manufacturing of items across industry verticals, such as automotive and electronics, is responsible for this market expansion. An increase in demand for mass customization is also driving the adoption of these technologies. CNC programmed machine tools, for example, enable the rapid and economical manufacture of several goods in a single batch. Due to the sheer increasing demand for real-time information access, manufacturers are rapidly incorporating the Internet of Things into their manufacturing processes. As a result, productivity, safety, production innovation, and downtime costs would all improve.

In April 2020, Zyfra, for example, launched a cloud-based version of their MDCplus machine monitoring system, which is a remote Internet of Things (IoT) innovation, allowing remote monitoring of computerized numerical control machines already in India. The availability of sensors, internet connectivity, and cloud computing is likely to fuel the industry even more. The growing investment in IoT in the industrial sector is propelling the growth of the worldwide CNC machine market. Manufacturers are concentrating their efforts on the adoption of smart gadgets. Because of the more competitive climate, companies are increasing their efforts to boost output in order to strengthen their market position. When compared to conventional machines, the potential of CNC machines to enhance production while enhancing overall safety is considerably driving the CNC machines industry.

The CNC machine market is expected to be dominated by the Asia Pacific region. The growing demand for precise goods with short lead times is driving a rise in the use of CNC machine tools. Demand for these machines is expected to rise as complex applications in industries such as automotive, medical, aerospace, and semiconductors are mass-produced in large quantities. The advantages provided by computer numerical control machines, such as the rapid and efficient manufacturing of several items in a single batch, are attracting interest.

One of the emerging trends in the machine tool business is the increasing use of additive and subtractive CNC machines. As a result, manufacturers are creating hybrid machinery to keep up with the same trend. For example, during Formnext 2019, DMG MORI introduced the LASERTEC 125 3D, a hybrid production machine. The LASERTEC 125 is a 5-axis laser deposition welding system designed to repair, maintain, and produce large workpieces weighing up to 2000 kg. The rising demand for computer numerical control machines in industries such as electrical equipment, consumer products, and electronics manufacturing is expected to drive market expansion. The region's growing need for electricity production, distribution, and transmission machinery is driving the expansion of electrical machinery industry analysis.

Growth Factors

• Growing applications in the end-user industries owing to the increasing technological advancements will fuel the market growth.

One of the major reasons for the growth of the CNC machine market is the growing demand in various end-user industries owing to the increasing technological advancements. End-use sectors including automotive, manufacturing, and power & energy are concentrating on current technological advancements in the field of CNC software to increase machine communication with operators and shop floor flexibility. Machine learning and the Internet of Things (IoT) have led to the development of new features, such as an application that alerts operators/supervisors on their cellphones or PCs about the state of a machine. Furthermore, these CNC machine technologies minimize the time necessary to manufacture workpieces as well as the likelihood of mistakes. Thus, end-users prefer CNC machines over traditional ones as a result of these features, which is expected to fuel market expansion.

Impact of COVID-19 on the CNC Machine Market

The COVID 19 epidemic has had a significant impact on the industrial industries throughout the world. Similarly, the machine tools industry market is experiencing a number of problems as a result of the pandemic. These difficulties arose as a result of unexpected plant shutdowns, supply chain interruptions, workforce shortages, and so on. Producers are working hard to return to normality following the pandemic, considering the importance of the market's recovery period. Furthermore, as a result of the demise of these industries, manufacturers are presently encountering sales problems in sectors such as the automotive industry, construction, aerospace and military, power, and others. In contrast, there has been a rapid increase in demand for CNC machines in the healthcare and pharmaceutical industries. For example, due to the necessity to battle COVID-19, Australian Numerical Control and Automation Pty Ltd (ANCA), known for supplying precision cutting tools, concentrated on delivering ventilator components in May 2020. Aside from that, manufacturers are finishing pre-existing orders to their clients, which is eventually balancing the market's sales throughout the epidemic. Furthermore, as the need for industrial automation and digitalization grows, sales of CNC technology are projected to rise gradually after the recovery phase.

CNC Machine Market Scope:

Segmentation:

• By Type
  • Lathe Machine
  • Milling Machine
  • Router Machine
  • Laser Cutting Machine
  • Plasma Cutting Machine
  • 3D Printer
  • Pick and Place Machine
  • 5-Axis Machine
• By Industry Vertical
  • Aerospace and Defense
  • Energy & Power
  • Automotive
  • Manufacturing
  • Others
•  By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • South Korea
    • Taiwan
    • Thailand
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the CNC machine market size by 2026?
A1. The CNC machine market is projected to reach a market size of US$90.906 billion in 2026.

Q2. What are the growth prospects for the CNC machine market?
A2. The global CNC machine market is projected to grow at a CAGR of 8.41% over the forecast period.

Q3. What is the size of the global CNC machine market?
A3. CNC Machine Market was valued at US$52.564 billion in 2019.

Q4. What factors are anticipated to drive the CNC machine market growth?
A4. One of the major reasons for the CNC machine market growth is the growing demand in various end-user industries owing to the increasing technological advancements.

Q5. How is the global CNC machine market segmented?
A5. The global CNC machine market has been segmented by type, industry vertical, and geography.