Global Computer Numerical Control Market Size, Share, Growth Analysis, By Type(Lathe Machines, Milling Machines), By End-Use(Automotive, Aerospace & Defense) - Industry Forecast 2023-2030

Computer Numerical Control Market size was valued at USD 56.4 billion in 2021 and is poised to grow from USD 62.13 billion in 2022 to USD 135.92 billion by 2030, growing at a CAGR of 10.2% in the forecast period (2023-2030).

The global Computer Numerical Control (CNC) market encompasses computerized systems controlling machine tools for precise manufacturing and automation. The industry's growth is driven by advancements in technology, rising demand for complex and precise components, and the need for improved production efficiency. Sectors like aerospace, automotive, and electronics heavily rely on CNC machining. The market's expansion is also influenced by software innovations, enhancing programming and operation capabilities. As manufacturing processes evolve, the CNC market continues to play a pivotal role in reshaping modern production across various industries.

Top-down and bottom-up approaches were used to estimate and validate the size of computer numerical control and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segmental Analysis

The computer numerical control (CNC) machine market is segmented based on Type, End-use, and Region. Based on the Type, the market is Sub segmented into lathe machines, milling machines, laser machines, grinding machines, welding machines, winding machines, and others. Based on End Use the market is further sub-segmented into Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, and Others. Based on Region the market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA.

Driver

An essential factor fueling the expansion of the computer numerical control (CNC) machinery market is the increasing need for a diverse range of industrial apparatus including medical tools, telecommunications devices, semiconductor manufacturing equipment, and electric vehicles (EVs). The market's growth is also attributed to the escalating requirement for ultra-precise and five-axis milling machines, crucial in the production of electric vehicles.

Restraint

The market's growth is anticipated to be curtailed by the significant expenses associated with procuring and upkeeping these machines. Moreover, between 2022 and 2028, the market for computer numerical control (CNC) machines could encounter challenges due to the volatility in costs of raw materials and the scarcity of semiconductors utilized in CNC machines.

Market Trends

The escalating demand for automated manufacturing within the industrial sector has propelled the utilization of CNC machines. The expansion of industrial facilities in the Asia Pacific region further fosters the adoption of computer numerical controls in this sector. The energy generation field's extensive automation needs have also led to prevalent incorporation of CNC machines. In the automotive realm, CNC has gained paramount significance. Contemporary vehicles feature numerous components exclusively crafted by CNC tools, encompassing die-cast elements and unibody frames. CNC machinery is extensively applied in crafting engine housings, axles, suspension parts, and carburetor housings. Notably, CNC machining is employed in milling acrylic/PMMA for headlights, exterior and interior lighting, exemplifying its role in automobile production's automation surge, likely driving substantial growth in the automotive sector in the forthcoming years.