CNC Machine Industry worth $80.4 billion by 2028

 CNC Machine market size is projected to grow from USD 67.5 billion in 2023 to USD 80.4 billion by 2028, at a CAGR of 3.5% during the forecast period.

Machines segment to hold the largest size of the CNC Machine market during the forecast period.

The machines segment is expected to account for the largest size of the CNC (Computer Numerical Control) Machine market throughout the forecast period. Machines are integral in manufacturing and machining processes and are indispensable in achieving precision and consistency in producing essential components in various industries. Additionally, various manufacturing operations rely intemperately on CNC (Computer Numerical Control) machines as their primary production processes. Therefore, machine offering is a significant component and accounts for a major share of the overall market.

Machining Centers are expected to lead the CNC Machine market during the forecast period.

The machining centers segment is expected to lead the market during the forecast period. Machining centers cover various operations and machines — from small individual parts to large, heavy-duty gang milling operations. CNC (Computer Numerical Control) machining is one of the most commonly used processes in the manufacturing industry, and machine shops machine parts to accurate sizes and shapes. These machining centers include exceptional versatility, precision, and automation capabilities, which cater to diverse industries. Additionally, the need for cost-effective and efficient production methods, especially in industries with stringent quality requirements. 

1 Introduction

1.1. Study Objectives

1.2. Market Definition & Scope

1.3. Inclusion and Exclusion

1.4. Study Scope

1.4.1. Market Covered

1.4.2. Years Considered

1.5. Currency Considered

1.6. Limitation

1.7. Market Shareholders

1.8. Recession Impact

2 Research Methodology

2.1. Introduction

2.1.1. Secondary Data

2.1.1.1. List Of Major Secondary Sources

2.1.1.2. Key Data from Secondary Sources

2.1.2. Primary Data

2.1.2.1. Breakdown of Primaries

2.1.2.2. Key Data from Primary Sources

2.1.3. Secondary and Primary Research

2.1.3.1. Key Industry Insights

2.2. Market Size Estimation

2.2.1. Bottom-Up Approach

2.2.1.1. Approach for arriving at market size using bottom-up approach.

2.2.2. Top-Down Approach

2.2.2.1. Approach for arriving at market size using top-down approach.

2.3. Market Breakdown and Data Triangulation

2.4. Research Assumption

2.5. Recession Impact

2.6. Risk Assessment

Asia Pacific is expected to dominate the CNC Machine market during the forecast period.

The Asia Pacific region will dominate the CNC Machine market throughout the forecast period. It is expected to grow at the highest CAGR from 2023 to 2028. The region has witnessed a significant expansion in its manufacturing sector, attributed to industrialization, urbanization, and population surge. This growth necessitates advanced manufacturing technologies, such as CNC (Computer Numerical Control) machines, to meet production demands efficiently. In addition, the automotive industry, a primary user of CNC (Computer Numerical Control) machines, has seen significant growth in Asia-Pacific. Countries such as China and India have become major automotive manufacturing hubs, driving the demand for CNC (Computer Numerical Control) equipment for machining engine components, body parts, and more. Furthermore, the infrastructure development and investments in industrial parks and zones in Asia-Pacific countries have created conducive manufacturing environments, attracting domestic and foreign investments in CNC (Computer Numerical Control) machinery.

The key players operating in the CNC Machine market include DMG MORI (Japan), Okuma Corporation (Japan), Makino Milling Machine Co., Ltd. (Japan), Haas Automation, Inc (US), JTEKT Corporation (Japan), DN SOLUTIONS (South Korea), TRUMPF (Germany), Hurco Companies, Inc. (US), Yamazaki Mazak Corporation (Japan), GF Machining Solutions Management SA (Switzerland), CHIRON Group SE (Germany), MAG IAS GmbH (Germany), GROB-WERKE GmbH & Co. KG (Germany), EMAG GmbH & Co. KG (Germany), among others.

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