According to the latest report by IMARC Group, titled “Computer Numerical Control (CNC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global computer numerical control (CNC) machine market reached a value of US$ 75.7 Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.1% during 2022-2027. Computer numerical control (CNC) is the process of automating machine tools through software embedded in them. It generates a computer-aided design that connects various components of machines such as controllers, sensors, and programmable logic controller (PLC) drives to a secure network. It provides precision, enhanced accuracy, better contour machining to produce 3D designs, and more speed and flexibility than manual machines. It also helps automate processes, thus eliminating or reducing the need for manual labor. Owing to these properties, CNC is widely used to perform various manufacturing processes such as shaping, grinding, bending, cutting, welding, gluing, drilling, and hole punching.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Computer Numerical Control Market Trends:
The market is primarily driven by the escalating demand for large-scale automation across various industries to reduce overall operational costs and eliminate the risk of human errors. In addition, the advent of advanced applications that notify the status of the CNC machine to their operators and supervisors on computers and smartphones represents another major growth-inducing factor. Besides this, key players are integrating 3D printing techniques with CNC machines to help manufacture complex curved geometries, reduce resource wastage, and enhance multi-material capability. This, coupled with the implementation of favorable government initiatives to support the establishment of manufacturing units, is positively influencing the market growth. Moreover, the rising utilization of CNC machines in the automotive industry to manufacture high-quality and complex vehicle parts is also creating a positive market outlook across the globe.
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Some of the top manufacturers in the Computer Numerical Control (CNC) Machine Market include:
Market Breakup by Machine Type:
Market Breakup by End Use Industry:
Key Highlights of the Report:
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