Computer Numerical Control Machines Market 2023 Supply-Demand,...

Computer Numerical Control Machines Market 2023 Supply-Demand, Production Cost and Share Analysis

Posted 2024-08-09 05:52:58

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Computer Numerical Control Machines Industry Overview

The global computer numerical control machines market size was valued at USD 66.74 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030. The widespread adoption of computer numerical control (CNC) machines can be attributed owing to their ability to automate manufacturing processes. Computer numerical control machines can execute complex tasks with high precision and consistency, reducing human error and labor costs. These machines can work continuously, 24/7, significantly improving productivity and efficiency in various industries, such as automotive, aerospace, and electronics.

Gather more insights about the market drivers, restrains and growth of the Computer Numerical Control Machines Market

The CNC machines market recovered well in 2022 due to increased machine orders across industries, especially from North America. Asia Pacific, and Europe. In 2022, the market recorded positive growth owing to the pent-up demand and backlog orders resulting from the pandemic. Furthermore, technological advancements are expected to drive the growth of CNC machines. These machines are becoming more sophisticated, incorporating features such as multi-axis capabilities, improved spindle speeds, advanced tooling options, and real-time monitoring systems. The integration of Internet of Things (IoT) technology and Artificial Intelligence (AI) further enhances their capabilities, enabling predictive maintenance, adaptive machining, and data-driven optimizations.

One significant restraint is the substantial initial investment needed to acquire and establish these advanced manufacturing systems. CNC machines entail significant costs for procurement, installation, and training, creating a financial barrier that can impede their adoption, particularly among Small and Medium-sized Enterprises (SMEs) with constrained budgets. The high capital expenditure associated with CNC machines may restrict their widespread utilization in specific industries or regions.

Additionally, computer numerical control machines market is anticipated to face challenges due to the escalation of raw material prices and an impending shortage of semiconductors used in these machines. The market conditions are expected to drive an increase in demand for used CNC machines, thereby impeding the growth of the market for new CNC machines. This trend is projected to persist throughout the forecast period. Over the long term, fluctuations in raw material prices are expected to result in an upward trend in the average unit prices of CNC machines.

According to Grand View Research analysis the demand for computer numerical control machines is estimated to reach over 2,800 thousand units by 2030. The computer numerical control machines market growth is anticipated to be fueled by the rising demand for semiconductor production equipment, Electric Vehicles (EV), medical devices, and telecom communication devices. Additionally, the increasing need for five-axis mill machines and ultra-precision machines to cater to the requirements of EV manufacturing is expected to drive further growth.

Browse through Grand View Research's Electronic Devices Industry Research Reports.

The global artificial intelligence market size was estimated at USD 196.63 billion in 2023 and is projected to grow at a CAGR of 36.6% from 2024 to 2030.
The global Internet of Things (IoT) market size was valued at USD 605.69 billion in 2014 and is expected to grow at a compound annual growth rate (CAGR) of 15.2% from 2015 to 2022.

Computer Numerical Control Machines Market Segmentation

Grand View Research has segmented the global computer numerical control machines market based on type, end-use, and region:

Computer Numerical Control Machines Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2018 - 2030)

Lathe Machines
Milling Machines
Laser Machines
Grinding Machines
Welding Machines
Winding Machines
Others

Computer Numerical Control Machines End-use Outlook (Revenue, USD Billion, 2018 - 2030)

Automotive
Aerospace & Defense
Construction Equipment
Power & Energy
Industrial
Others

Computer Numerical Control Machines Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America
1. U.S.
2. Canada
Europe
1. U.K.
2. Germany
3. France
4. Italy
5. Spain
Asia Pacific
1. China
2. India
3. Japan
4. Australia
5. South Korea
Latin America
1. Brazil
2. Mexico
3. Argentina
MEA
1. U.A.E.
2. Saudi Arabia
3. South Africa

Key Companies profiled:

AMADA MACHINERY CO., LTD.
Amera Seiki
DMG MORI CO., LTD.
General Technology Group Dalian Machine Tool Corporation
DATRON AG
FANUC CORPORATION
Haas Automation, Inc
Hurco Companies, Inc.
OKUMA Corporation
Shenyang Machine Tool Part Co., Ltd.
YAMAZAKI MAZAK CORPORATION.

Key Computer Numerical Control Machines Company Insights

Okuma Corporation engaged in manufacturing of CNC machines. The company has 2 manufacturing plants and 11 sales service offices operated by its subsidiaries. Okuma Corporation invests heavily in R&D and innovations to gain a competitive advantage and create opportunities for long-term growth prospects.
FANUC Corporation is a technology company that provides factory automation products globally. The company has 30 manufacturing facilities and 263 sales and service offices serving 108 countries in Asia Pacific, the Americas, Europe, Oceania, and South Africa.
AMADA MACHINERY CO., LTD.; Amera Seiki; DMG MORI CO., LTD.; General Technology Group Dalian Machine Tool Corporation; DATRON AG; and Shenyang Machine Tool Part Co., Ltd. are some of the emerging market participants in the computer numerical control machines market.
Amada Machine Tools Co., Ltd. engaged in development, manufacturing, and sales of machine tools, stamping press machines, and metal cutting machines. The company has 7 manufacturing facilities and over 200 sales offices worldwide. The company has offices across Europe, North America, and Asia.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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