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The Computer Numerical Control (CNC) machinery market has experienced steady growth over recent years, driven by increased demand in various industries and advancements in technology. This blog delves into the current state and future projections of the CNC machinery market.

Current Market Size and Growth

Recent Growth:

• Market size grew from $86.7 billion in 2023 to $88.47 billion in 2024.
• Compound Annual Growth Rate (CAGR) of 2.0%.

Contributing Factors:

• Increased demand in aerospace and automotive industries.
• Globalization of manufacturing.
• Shorter product development cycles.
• Cost efficiency and labor savings.
• Customization and complexity in product designs.

Future Market Projections

Expected Growth:

• Projected to reach $118.58 billion by 2028.
• Expected CAGR of 7.6%.

Key Drivers:

• Growing adoption of 5-axis and multi-tasking machines.
• Sustainable and eco-friendly manufacturing practices.
• Rise in additive manufacturing.
• Increased demand in medical device manufacturing.
• Global reshoring initiatives.

Major Trends:

• Digital twin technology.
• Advancements in cutting-edge technologies.
• Integration of Industry 4.0 technologies.
• Enhanced precision and accuracy.
• Human-machine collaboration.

 

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Surge in Demand for CNC Machinery

Catalyst for Growth:

• Increasing demand for semiconductor production equipment is propelling the CNC machinery market.
• CNC machines are crucial for achieving minimum surface tolerance in semiconductor production equipment.
• Enable manufacturing of cylindrical semiconductor components.

Market Insight:

• According to Semiconductor Equipment and Materials International (SEMI), sales of semiconductor manufacturing equipment grew from $102.5 billion in 2021 to $108.5 billion in 2022, an increase of 5.69%.

Key Industry Players

Major Companies:

• Haas Automation Inc.
• Dalian Machine Tool Group (DMTG) Corporation.
• FANUC Corporation.
• DMG Mori Seiki Co. Ltd.
• Hurco Companies Inc.
• Amada Machinery Co. Ltd.
• MAG IAS GmbH.
• Sandvik AB.
• Hyundai WIA Corporation.
• Amera-Seiki Corporation.
• Yamazaki Mazak Corporation.
• Makino Milling Machine Co. Ltd.
• JTEKT Corporation.
• Ellison Technologies Inc.
• Okuma Corporation.
• DN SOLUTIONS.
• Mazak Corporation.
• Siemens AG.
• Dr. Johannes Heidenhain GmbH.

Technological Advancements

Innovative Technologies:

• Companies are adopting new technologies to sustain their market positions.
• Example: Robotiq Inc. launched a ‘Machine Tending Application Solution’ for CNC machines in June 2022.
  • Integrates automated technology that mimics the machine operator.
  • Helps reduce up to 50% of implementation costs.

Strategic Acquisitions

Expansion Through Acquisitions:

• Kongsberg Precision Cutting Systems acquired MultiCam Inc. in August 2021.
• This acquisition aims to expand Kongsberg’s global presence in North America and Europe.
• MultiCam Inc. specializes in digital finishing processes and CNC cutting machines.

Market Segmentation

By Type:

• Lathe Machines.
• Milling Machines.
• Laser Machines.
• Grinding Machines.
• Welding Machines.
• Winding Machines.
• Other Types.

By Number of Axes:

• 3 Axis.
• 4 Axis.
• 5 Axis.

By End Use:

• Automotive.
• Aerospace and Defense.
• Construction Equipment.
• Power and Energy.
• Industrial.
• Other End Users.

Regional Insights

Largest and Fastest-Growing Regions:

• Asia-Pacific was the largest region in the CNC machinery market in 2023.
• Expected to be the fastest-growing region during the forecast period.

Conclusion

The CNC machinery market is set for significant growth, driven by technological advancements and increased demand across various sectors. With strategic acquisitions and innovations, companies are well-positioned to capitalize on the rising market trends and maintain their competitive edge. As the industry continues to evolve, the integration of cutting-edge technologies and sustainable practices will be crucial in shaping the future of CNC machinery.

 

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The Computer Numerical Control (CNC) Machinery Global Market Report 2024  provides comprehensive insights on the computer numerical control (CN) machinery market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the computer numerical control (CN) machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –

Computer Hardware Global Market Report 2024

Computer Peripheral Equipment Global Market Report 2024

Computer Storage Devices And Servers Global Market Report 2024

 

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