CNC Machine Market 2023 In-Depth Analysis of Industry Share, Size, Growth Outlook up to 2030
Market Research Future Insights
According to MRFR analysis, the global CNC Machine Market Size is expected to register a CAGR of ~7% from 2022 to 2030 and hold a value of over USD 131 billion by 2030.
A CNC (Computer Numeric Control) machine is a type of machine tool that uses computer software and electronic circuitry to control the movements of the machine and produce parts from materials like metal, plastic, or wood. The COVID-19 pandemic has had a mixed impact on the CNC machine market. The decrease in manufacturing activity and overall economic slowdown caused by the pandemic has resulted in decreased demand for CNC machines. On the other hand, the increasing demand for medical equipment, such as ventilators and personal protective equipment, has led to an increase in demand for CNC machines in certain industries, such as the medical equipment manufacturing industry.
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Regional Analysis
The Asia-Pacific region is the largest market for CNC machines, accounting for a significant share of the global market. The region is home to some of the largest and most technologically advanced economies, such as China, Japan, and South Korea, which are major producers and consumers of CNC machines. Additionally, the region's thriving manufacturing sector, driven by the increasing demand for consumer goods and electronics, is a major factor driving the demand for CNC machines in the Asia-Pacific region. The market in the Asia-Pacific region is expected to grow further in the coming years due to the increasing demand for efficient and precise manufacturing processes and the rising demand for advanced and high-tech manufacturing equipment.
Market Segmentation
The Global CNC Machine market has been segmented into type and end user.
Based on the type, the market has been segmented into Milling Machines, Lathe Machines, Laser Machines, Welding Machines, Grinding Machines, Winding Machines, and Others.
Based on the end user, the market has been segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, and Others.
Key Players
Some of the key market players are Okuma Corporation, Yamazaki Mazak Corporation, Amada Co. Ltd., Haas Automation Inc., Fanuc Corporation, Datron AG, Amera Seiki, MG Mori, Hurco Companies Inc., Dalian Machine Tool Group Corporation, Shenyang Machine Tool Co. Ltd.
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