The Computer Numerical Control (CNC) Machine Market comprises advanced manufacturing systems that can be programmed using a computer to control machine tools and manufacturing equipment. CNC machines allow for fast, precise, and more efficient production compared to conventional manufacturing methods. The global Computer Numerical Control Machine Market is estimated to be valued at US$ 73.24 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Automation and remote capabilities have accelerated growth in the Computer Numerical Control Machine Market over recent years. The integration of robotics, artificial intelligence, and Internet of Things (IoT) technologies has enhanced the autonomy, productivity, and flexibility of CNC machines. Most modern CNC machines can be operated and monitored remotely using smartphones and computer applications. This allows manufacturers to manage production from anywhere and make real-time adjustments based on data analytics. The automation and remote control features of advanced CNC machines have helped lower manufacturing costs while improving quality control and meeting growing demand for customized products. This trend is expected to continue driving market expansion over the forecast period.
Segment Analysis
The global computer numerical control machine market is dominated by the metal and metal working segment. Within this segment, CNC mills account for the largest share due to their usage in manufacturing structural metal components across industries. CNC mills enable mass production with consistency and precision.
Key Takeaways
The global computer numerical control machine market is expected to witness high growth over the forecast period of 2023-2030 supported by miniaturization trends across industries. The global Computer Numerical Control Machine Market is estimated to be valued at US$ 73.24 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023-2030.
Regional analysis shows that Asia Pacific dominates the market currently due to presence of large manufacturing bases in countries like China and presence of key players. Europe and North America are other major markets driven by aerospace and automotive industries.
Key players operating in the computer numerical control machine market are Hurco Companies Inc., Protomatic Inc., Metal Craft, AMS Micromedical LLC, JTEKT Corporation, Haas Automation, Fanuc Corporation, Siemens AG, DMG Mori Seiki Co. Hurco Companies Inc. is a leading player focused on CNC mills with global footprint. Protomatic Inc. specializes in 3axis and 5axis CNC mills catering to metal fabrication market.
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- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it