Computer Numerical Control Machines Market Size, Share & Trends Report

Computer Numerical Control Machines Market Size, Share & Trends Analysis Report By Type (Milling, Welding, Lathe), By End Use (Automotive, Industrial), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028

  • Published Date: May, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-2-68038-077-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 129

Report Overview

The global computer numerical control machines market size was valued at USD 71.46 billion in 2020 and is expected to exhibit a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. The COVID-19 pandemic has negatively affected the market in terms of new sales and installations. However, the existing Computer Numerical Control (CNC) Machines across the globe are being used to manufacture components for medical products, such as masks, respirators, & filters, and critical infrastructure during the pandemic. As such, even with the imminent slowdown of the market growth, it is expected to recover fully in a short term. The pandemic has compelled several companies operating in the machine tool market to temporarily halt manufacturing operations to comply with new government regulations. Revenue streams have been directly affected due to the adverse impact caused by supply chains and trade disruptions on the overall business operations.

U.S. computer numerical control machines market size, by type, 2016 - 2028 (USD Billion)

The advancements in production technology provide the ability to produce components with a better surface finish and a reduction in the time required for manufacturing components. Furthermore, the market is driven by emerging needs for smaller factory footprints owing to the lack of availability of space. The modern machine variants are compact and do not require any operator or supervisor to constantly monitor machine operations. This minimizes the need for manual labor, in turn, saving costs for the company. These factors are anticipated to drive the market growth over the forecast period.

End use industries, such as automotive, manufacturing, and power & energy, are focusing on current technological trends in the field of CNC software to enhance the connectivity of machines with operators and improve flexibility on the shop floor area. The evolution of machine learning and the Internet of Things (IoT) has resulted in the introduction of new features, such as an application that notifies the status of a machine to the operators/supervisors on their smartphones or PCs. In addition, these technologies used in CNC machines reduce the time required for manufacturing the workpieces and the chances of errors. Owing to these factors, end users choose Computer Numerical Control (CNC) Machines over traditional ones and this is anticipated to drive the market growth. Technological advancements have resulted in the development of software and applications that allow managers to track the activities carried out on the shop floor by the operators. These features enable proactive decision-making by the managers and help improve the productivity of the unit.

However, the costs associated with purchasing and installation of these machines are acting as a challenge to the market growth to a certain extent. Furthermore, manufacturers are dependent on third-party raw material suppliers to manufacture computer control systems and key components, such as drives and motors. An interruption in raw material supply and the significant increase in prices of third-party suppliers are anticipated to have an adverse effect on business and result in the slowdown of manufacturing operations.

Type Insights

The lathe machines segment accounted for the highest revenue share of over 28% in 2020 and will remain dominant throughout the forecast period. The recent variants include5- and 6-axis lathes that perform operations from both ends and can be used for producing fine cuts and providing a better finish. Benefits, such as ease of operation, and their myriad applications are resulting in their increased adoption across the globe.

The laser machines segment is anticipated to gain traction over the forecast period owing to the growing demand for improved speed of machining and reduced requirement of the workforce. In addition, the growing demand for automating metal cutting processes and the increasing adoption of digitalization in manufacturing processes to develop components and products with complex geometry are anticipated to drive the demand for the CNC laser machines over the forecast period.

End use Insights

The industrial end use segment accounted for the highest revenue share of more than 26% in 2020 and will retain its leading position during the forecast years. The rising adoption of technologies, such as IoT, Artificial Intelligence (AI), machine learning, and robotics, is anticipated to drive the growth of the industrial segment. These technologies help serve the increasing demands from the end users in this segment.

Europe computer numerical control machines market revenue share, by end use, 2020 (%)

The automotive end use segment is anticipated to register the fastest growth rate over the forecast period. The increase in product demand from automobile manufacturers for the mass production of workpieces in minimal time and expenses is expected to drive the segment growth. Furthermore, the key manufacturers in the market are offering CNC machines to be used for high-volume production in the automotive industry. For instance, Hurco Companies, Inc. offers VT series, a high-speed drill and tap machine for high-volume production of electronics components and automotive parts.

Regional Insights

Asia Pacific dominated the global market with a revenue share of over 36% in 2020. The regional market is estimated to expand further at the fastest CAGR from 2021 to 2028 due to the presence of major manufacturers, such as Okuma Corp., Yamazaki Mazak Corp., and DMG Mori Co., Ltd. in the region. Furthermore, supportive government initiatives and organization of trade shows in the region to spread awareness about the latest technologies in manufacturing will drive the market. For instance, in January 2020, International Conference on Robotics and Smart Manufacturing (ICROSMA 2020) was organized to provide a platform for researchers, students, and academicians to share recent ideas and knowledge in the field of smart manufacturing and robotics. Such initiatives are anticipated to drive market growth in the Asia Pacific.

Key Companies & Market Share Insights

The market is subject to technological changes, changing customer requirements, evolving industry standards, and improvements in and expansion of product offerings. The ability to anticipate changes in technology, customer requirements, industry standards, and competitors’ product offerings and to introduce and develop new and enhanced products on a timely basis are significant factors considered by companies to maintain and improve their competitive position and growth prospects in the market.

Furthermore, the key companies in the market are developing and investing in research and development activities to improve product design and integrate advanced technologies, such as AI and machine learning into CNC machines. For instance, in January 2020, Amada Co., Ltd. established an innovation center named Amada AI Innovation Laboratory Inc. (AAIIL) in Tokyo, Japan; to conduct research activities to boost the company's growth and acquire cutting-edge technology centered around AI. Some prominent players in the global computer numerical control machines market include:

  • Amada Co., Ltd.

  • Amera Seiki

  • Fanuc Corp.

  • Datron AG

  • DMG Mori

  • Dalian Machine Tool Group (DMTG) Corp.

  • Haas Automation, Inc.

  • Okuma Corp.

  • Shenyang Machine Tool Co., Ltd. (SMTCL)

  • Hurco Companies, Inc.

  • Yamazaki Mazak Corp.

Computer Numerical Control Machines Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 76.22 billion

Revenue forecast in 2028

USD 126.27 billion

Growth rate

CAGR of 7.5% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 – 2019

Forecast period

2021 – 2028

Quantitative units

Revenue in USD billion, volume in thousand units, and CAGR from 2021 to 2028

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; France; Italy; China; India; Japan; Mexico

Key companies profiled

Amada Co., Ltd.; Amera Seiki; Fanuc Corp.; Datron AG; DMG Mori; Dalian Machine Tool Group (DMTG) Corp.; Haas Automation, Inc.; Okuma Corp.; Shenyang Machine Tool Co., Ltd. (SMTCL); Hurco Companies, Inc.; Yamazaki Mazak Corp.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global computer numerical control machines market report on the basis of type, end use, and region:

  • Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)

    • Lathe

    • Milling

    • Laser

    • Grinding

    • Welding

    • Winding

    • Others

  • End use Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)

    • Automotive

    • Aerospace & Defense

    • Construction Equipment

    • Power & Energy

    • Industrial

    • Others

  • Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)

    • North America

      • The U.S.

      • Canada

    • Europe

      • France

      • Germany

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Mexico

    • Middle East & Africa

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