What is Global CNC Machine Market?
The Global CNC Machine Market is a comprehensive study of the current trends, growth indicators, and market dynamics that revolve around the CNC (Computer Numerical Control) machines worldwide. CNC machines are automated tools that are controlled by a computer program. These machines have revolutionized the manufacturing industry by providing high precision, efficiency, and flexibility. The global CNC machine market was valued at a substantial US$ 20360 million in 2022. The market is projected to reach an impressive US$ 31790 million by 2029, growing at a steady compound annual growth rate (CAGR) of 6.1% during the forecast period from 2023 to 2029. This growth is driven by the increasing demand for automation in the manufacturing sector and the need for high precision and productivity.
CNC Lathe, CNC Milling Machine, CNC Grinding machine, Others in the Global CNC Machine Market:
The CNC machines are classified into several types such as CNC Lathe, CNC Milling Machine, CNC Grinding machine, and others. The CNC lathe is the most popular type, accounting for about 65% of the global market share. These machines are used to produce precise parts in large quantities. The CNC milling machine is another important type of CNC machine that is used to cut and shape materials like metal, wood, and plastic. The CNC grinding machine is used for grinding operations, where it provides high precision and surface finish. Other types of CNC machines include drilling machines, laser cutting machines, and wire EDM machines. These machines are used in various industries for different applications.
Machinery manufacturing, Automobile, Aerospace & Defense, Others in the Global CNC Machine Market:
The Global CNC Machine Market finds its application in various sectors such as Machinery manufacturing, Automobile, Aerospace & Defense, and others. In the machinery manufacturing sector, CNC machines are used for producing complex and precision parts. In the automobile industry, they are used for manufacturing various parts of vehicles like engine parts, body parts, and others. The aerospace and defense sector also heavily relies on CNC machines for manufacturing aircraft parts, defense equipment, and others. Other sectors where CNC machines are used include the electronics industry, healthcare sector, and construction industry.
Global CNC Machine Market Outlook:
The market outlook for the Global CNC Machine Market is quite promising. The market was valued at US$ 20360 million in 2022 and is expected to reach US$ 31790 million by 2029, growing at a CAGR of 6.1% during the forecast period 2023-2029. The top five manufacturers globally hold a significant market share of about 45%. Europe is the largest market for CNC machines, accounting for over 40% of the global market. It is followed by the Asia-Pacific (APAC) and America, which together account for about 55% of the global market. In terms of product type, CNC lathe is the largest segment, holding a market share of about 65%.
| Report Metric | Details |
| Report Name | CNC Machine Market |
| Accounted market size in 2023 | US$ 22350 million |
| Forecasted market size in 2029 | US$ 31790 million |
| CAGR | 6.1 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Yamazaki Mazak, DMG Mori Seiki, TRUMPF, Okuma Corporation, JTEKT Corporation, Makino, GROB-WERKE, Doosan Machine Tools, Haas Automation, GF Machining Solutions, EMAG, Hyundai WIA, Chiron Group, Hermle, Fair Friend Group, Starrag Group, INDEX-Werke, Nidec Machine Tool Corporation, Hardinge Group, Hurco, Haitian Precision, TORNOS, Qinchuan, Rifa Precision |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
