The global computer numerical control machines market size is expected to reach USD 126.27 billion by 2028, registering a CAGR of 7.5% from 2021 to 2028, according to a new study by Grand View Research, Inc. The rising need for minimizing operating costs and errors in machine components and increasing efficiency in manpower deployment has led to the increased demand for automation and CNC machines.
Governments across the globe have imposed restrictions on transportation owing to the COVID-19 pandemic, which has resulted in port closures. Factors, such as reduced availability of air transportation facilities and stringent border controls, are delaying the procurement of raw materials and components. The resulting delay in the shipment of products to customers is further adding to operational costs. While the situation is adversely affecting profitability and competitiveness, market players are also losing ground in the market as customers are looking to approach alternative suppliers.
Technological proliferation has enabled manufacturers to use the Internet of Things (IoT) and machine learning in controllers. The use of these technologies in Computer Numerical Control (CNC) Machines led to the development of software applications that are compatible with PCs and smart devices, which allows operators and supervisors to control the machines remotely. Furthermore, the use of IoT is expected to bring about several innovations in terms of automation in the field, which would help save time and improve the productivity of companies.
Manufacturers are increasingly focusing on current technological trends in the field of software to enhance the connectivity of machines with operators and improve flexibility on the shop floor area. Several companies are investing in R&D activities to improve the equipment design in a way that reduces the floor space required and allows multiple operations to be carried out by the same equipment, thereby improving the productivity of the plant. This is anticipated to boost the market growth.
Request a free sample copy or view report summary: Computer Numerical Control Machines Market Report
The milling machines segment is anticipated to register the fastest CAGR from 2021 to 2028 as a result of rising demand for this type of equipment owing to features, such as multi-functionality and reduced time requirements
The automotive segment is expected to register the maximum growth rate over the forecast period due to the rising product demand in this segment for producing components in less time and achieving a fine finish
Asia Pacific accounted for the largest market share, in terms of revenue, and is projected to expand further at the fastest CAGR over the forecast period
The increased focus on infrastructural development and digitization of industries in Asia Pacific is anticipated to drive the regional market growth
Grand View Research has segmented the global computer numerical control machines market based on type, end use, and region:
CNC Machines Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)
CNC Machines End use Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)
Aerospace & Defense
Power & Energy
CNC Machines Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 - 2028)
Middle East & Africa
List of Key Players of Computer Numerical Control Machines Market
Amada Co., Ltd.
Dalian Machine Tool Group (DMTG) Corp.
Haas Automation, Inc.
Shenyang Machine Tool Co., Ltd. (SMTCL)
Hurco Companies, Inc.
Yamazaki Mazak Corp.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."