Market Insight-Global CNC Machine Market Overview 2022
The Global CNC Machine Market Size was estimated at USD 22583 million in 2021 and is projected to reach USD 34646 million approximately by 2028, exhibiting a CAGR of 6.31% during the forecast period– Bossonresearch.com
A CNC machine is a motorized maneuverable tool and often a motorized maneuverable platform, which are both controlled by a computer, according to specific input instructions. Instructions are delivered to a CNC machine in the form of a sequential program of machine control instructions such as G-code and M-code, and then executed. The program can be written by a person or, far more often, generated by graphical computer-aided design (CAD) or computer-aided manufacturing (CAM) software. In the case of 3D printers, the part to be printed is "sliced" before the instructions (or the program) are generated. 3D printers also use G-Code.
According to Bosson Research, the Global CNC Machine Market Size was estimated at USD 22583 million in 2021 and is projected to reach USD 34646 million approximately by 2028, exhibiting a CAGR of 6.31% during the forecast period. The demand for computer numerical control (CNC) machines is estimated to reach over 2800 thousand units by 2030. The increasing demand for semiconductor production equipment, medical devices and Electric Vehicles (EV), and telecom communication devices is the primary factor expected to drive the market growth over the forecast period. Also, the growing demand for five-axis mill machines and ultra-precision machines required to address the needs for EV productions are anticipated to drive the growth.
Figure Global CNC Machine Market Size
Source: Bossonresearch.com, 2022
The CNC machine market recovered well in 2021 due to increased machine orders across the industries, notably from Europe, Asia Pacific, and North America. In 2021, the market recorded positive growth owing to the pent-up demand and backlog orders resulting from the pandemic. This trend will continue over the short term to meet backlogs from 2020. However, the worldwide shortage of semiconductors and rising steel prices & logistics costs are expected to hinder the sales revenues of OEMs, a trend that is expected to continue till 2023.
Automated CNC systems integrated with industrial robots featuring simulation software to increase production is expected to favor the growth of the Computer Numerical Control (CNC) machines market over the forecast period. One of the primary reasons for adopting automated CNC machines is to address the lack of skilled laborers challenges that most industries are currently facing. This enables manufacturing industries to increase their efficiency and maximize the production output. To address this demand, incumbents in this space, such as Fanuc Corporation and OKAMA America Corporation, emphasize integrating new technologies with the existing product portfolio.
Segment Market Analysis by Type
The CNC lathe machines segment accounted for USD 16.11 billion in 2021 and is expected to register a CAGR exceeding 10% over the forecast period. Growing demand for CNC lathe machines from the automotive sector to manufacturer customized parts such as cylinder heads, starter motors, gearboxes, and other prototyping applications are expected to drive market growth over the next mid-term. Furthermore, technological advancements in existing CNC lathe systems with new features used for various applications are expected to bode well for the market growth. For instance, in February 2021, Citizen Machinery Co., Ltd launched Cincom L32 XII, a Sliding Headstock Type Automatic CNC Lathe machine that features an automatic tool changer. The features enable to perform complex shapes machining such as implants used in medical treatment and perform multiple functions simultaneously.
Segment Market Analysis by Industry
The CNC machines market is turning out to be competitive. The market is characterized by a few established manufacturers and several small-scale regional manufacturers. The incumbents such as DMG Mori Co. Ltd, and Okama are investing aggressively in R&D efforts to introduce new, innovative, high-precision machine tools and enter into different application segments as part of the efforts to retain the existing customers while attracting new ones.
Fluctuating raw materials prices and supply chain disruption are some of the short-term challenges experienced by OEMs. Moreover, these fluctuations increase the operational costs for manufacturers relying on a limited number of suppliers and force them to price their products at prices exceeding those quoted by their competitors, thereby putting them at a competitive disadvantage.
Key players in the CNC Machine Market include:
Yamazaki Mazak
DMG Mori Seiki
TRUMPF
Okuma Corporation
JTEKT Corporation
Makino
GROB-WERKE
Doosan Machine Tools
Haas Automation
GF Machining Solutions
EMAG
Hyundai WIA
Chiron Group
Hermle
Fair Friend Group
Starrag Group
INDEX-Werke
MHI Machine Tool
Hardinge Group
Hurco
Haitian Precision
TORNOS
Qinchuan
Rifa Precision
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