The global computer numerical control machines market is estimated to reach USD 117.17 billion, by the end of 2027, and is projected to grow at a CAGR of 7.3% over the forecast period, 2020 to 2027, according to a new report by Million Insights. Growing demand for reduced manpower operational costs are expected to surge demand for automation with computer numerical control (CNC) machines. In addition, technological advancement in CNC machines through laser, grinding, welding machine, and milling machines are projected to positively impact market growth.
Furthermore, CNC machines integration with computer-aided design & manufacturing (CAD, CAM) benefits in time-saving in the production process. Moreover, increasing demand for multi-axis technology, and automatic tool changers are also boosting the growth of CNC machines market. CNC lathes machines are highly used in manufacturing industries for applications such as deformation, knurling, drilling, turning, facing, and cutting operations.
Different milling tools such as solid carbide tool, and polycrystalline diamond have been introduced recently in the market. These tools provide greater versatility and efficiency, especially in shop floor operations. These tools also offer resistance, and durability in high-temperature conditions with reduced noise, wear, and vibrations.
Key manufacturers in the market include Amera Seiki, Amada Co., Ltd., Fanuc Corporation, Datron AG, Dalian Machine Tool Group (DMTG) Corporation, Haas Automation, Inc., DMG Mori, Hurco Companies, Inc., and Okuma Corporation.
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Further key findings from the report suggest:
• Milling machine segment is projected to grow at the fastest CAGR from 2020 to 2027, due to the advanced features such as reduced time, and multi-functionality.
• Based on end-use, automotive sector is estimated to grow at a fastest CAGR over the forecasted period.
• Asia Pacific region is projected to lead the market with highest share by 2027, due to the growing manufacturing industries development across the countries such as China, and India.
Million Insights has segmented the global computer numerical control machines market based on type, end use, and region:
CNC Machines Type Outlook (Revenue, USD Billion, 2016 - 2027)
• Lathe Machines
• Milling Machines
• Laser Machines
• Grinding Machines
• Welding Machines
• Winding Machines
CNC Machines End Use Outlook (Revenue, USD Billion, 2016 - 2027)
• Aerospace & Defense
• Construction Equipment
• Power Energy
CNC Machines Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa