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The Global Computer Numerical Control (CNC) Machine Tools Market size is forecast to increase by USD 23.23 billion, at a CAGR of 5.99% between 2023 and 2028. The market report highlights advancements in the machine tool industry, emphasizing cutting-edge technologies like high-speed CNC machine tools and AI. Microchips drive the development of complex machining products, while CNC programmable machine tools offer versatility. Digital technologies enable real-time monitoring systems, optimizing performance. Spindle speeds and advanced tooling options enhance precision and efficiency. The integration of AI enhances operational capabilities, reflecting the industry's pursuit of innovation.
CNC Machine Tools Market Forecast 2024-2028
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The CNC lathe machines segment will account for a major share of the market's growth during the forecast period. These machines are crucial for producing precise and complex components across various industries, such as automotive, aerospace, manufacturing, and medical device production. The versatility and precision of CNC lathe machines make them indispensable for the production of components like shafts, screws, bolts, and other cylindrical parts.
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The CNC lathe machines were the largest segment and were valued at USD 30.06 billion in 2018. Furthermore, technological advancements have led to the integration of CNC lathe machines with features such as multi-axis control, live tooling, and automatic part loading, which enhance their capabilities and expand their application range. Moreover, the growing adoption of CNC lathe machines in emerging economies is contributing to the segment's growth. As these economies invest in modernizing their manufacturing infrastructure, there is an increasing demand for advanced CNC lathe machines to meet the evolving production needs across various end-user industries. Thus, the above-mentioned advantages are expected to increase the adoption of CNC lathe machines among end-users, which will propel the growth of the CNC lathe machines segment of the global market during the forecast period.
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APAC is estimated to contribute 41% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Currently, APAC is a major hub for manufacturing activities in key industries, including key end-users. The growing population in the region has fueled the demand for several consumer goods and other commodities, which has encouraged manufacturers to increase their production capacities by expanding existing manufacturing facilities or constructing new ones with state-of-the-art CNC-machinery. Furthermore, the high demand for this in APAC is attributed to growth in the automotive and industrial sectors in the region. South Korea, China, Japan, India, Taiwan, and Singapore are major contributors. CNC-machine tools, such as less than 5-axis and 5-axis or more, are used widely in the automotive, aerospace, and metal fabrication industries.
In addition, with rapidly growing economies, rising disposable incomes, and increasing traffic congestion, the use of two-wheelers is expected to continue in APAC. Two-wheelers are looked upon as an economical alternative to cars and are highly preferred to walking, cycling, and public transport systems. This will continue to drive the demand for this in countries such as China, India, and Thailand. The stable outlook of the overall automotive industry and rapidly growing demand in APAC should provide an impetus to the market demand for CNC machined parts. Therefore, the use of CNC-machine tools is expected to witness growth in the automotive sector during the forecast period.
The market is undergoing a transformative phase driven by the integration of additive manufacturing with CNC machine tools for hybrid manufacturing, enhancing efficiency and precision in fish processing. A significant trend in this market is the continuous technological advancements in CNC machine tool technology, such as high-speed CNC machine tools and advanced tooling options, catering to the diverse needs of the industry. However, stringent regulations in the manufacturing industry pose a significant challenge, requiring compliance with complex standards and procedures.
Despite this, the adoption of digital technologies, including artificial intelligence (AI) and Internet of Things (IoT) technology, is revolutionizing the machine tool industry, improving productivity and reducing human error. Moreover, advancements in real-time monitoring systems and predictive maintenance are enhancing operational efficiency and minimizing downtime. To thrive in this evolving landscape, stakeholders must embrace innovation and navigate regulatory complexities to capitalize on the opportunities presented by hybrid manufacturing and technological advancements in fish processing..
Integration of additive manufacturing with CNC machine tools for hybrid manufacturing. Additive manufacturing, also known as 3D printing, has gained significant traction in recent years due to its ability to fabricate complex and customized parts with reduced lead times and material waste. When integrated with traditional tools, additive manufacturing can create a hybrid manufacturing process that leverages the strengths of both technologies. Moreover, the combination of additive manufacturing and CNC machining allows for the repair, rework, or modification of existing components, leading to enhanced asset utilization and reduced material wastage. This is particularly valuable in industries such as aerospace, automotive, and medical devices, where the ability to refurbish or retrofit components can result in significant cost savings and reduced downtime.
Furthermore, the integration of these technologies can lead to improved material utilization, as additive manufacturing can be used to build near-net-shape features or components, which are subsequently finished using CNC machining. This approach reduces material waste and contributes to sustainable manufacturing practices. Thus, the above-mentioned factors are expected to increase the demand for this, which will propel the growth of the market during the forecast period.
Technological advancements CNC machine tool technology is the major trend. Technological advancements in these tools have significantly transformed the global market, leading to improved precision, efficiency, and automation in manufacturing processes. Furthermore, the incorporation of high-speed machining capabilities in this has revolutionized the manufacturing landscape. High-speed machining techniques, coupled with improved spindle and cutting tools technologies, have enabled manufacturers to achieve higher material removal rates while maintaining precision and surface quality. This has translated into reduced production times and increased throughput, driving efficiency and cost-effectiveness in production processes.
However, a notable advancement is the integration of additive manufacturing capabilities into CNC machine tools, as previously mentioned. This hybrid manufacturing approach has expanded the scope of what can be achieved with these tools, allowing for the production of intricate geometries, lightweight structures, and customized components with improved material utilization and design flexibility. Thus, the above-mentioned factors are expected to increase the demand for this, which will propel the growth of the market during the forecast period.
Stringent regulations in the manufacturing industry is the major challenge. The global manufacturing industry is governed by several regulations about personnel safety and quality conformance and is required to adhere strictly to all these regulations to mitigate associated risks. Industries need to be compliant with several standard parameters specified by the International Organization for Standardization (ISO). Furthermore, the emergence of disruptive technological advances has resulted in regulatory authorities updating their policies. In addition, several institutes and agencies, such as the American National Standards Institute, Canadian Standards Association, and Deutsches Institut fur Normung e.V. (DIN), have passed safety norms and guidelines for using industrial robots in plants.
Moreover, the emergence of such stringent regulations is anticipated to harm the market growth analysis and prospects of the computer numerical control machine tools market as the current generation of CNC vertical machining centers is incorporated with robotic arms for automated movement of the equipment and further operations. Thus, stringent regulatory frameworks on the manufacturing industry will hinder the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amada Co. Ltd - The company offers CNC-machine tools such as Pre Owned VIPROS 358 KING, which has 6 month AMADA guarantee and brush table for low noise operation and scratch free processing.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Amada Co. Ltd., ANCA Pty Ltd., Andritz AG, Bendable Technology Solutions Pvt Ltd., Chiron Group SE, DMG MORI Co. Ltd., EIT Manufacturing Central GmbH, EMAG GmbH and Co. KG, FANUC Corp., Gebr. Heller Maschinenfabrik GmbH, General Technology Group Dalian Machine Tool Co. Ltd., GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., HWACHEON MACHINERY CO., LTD, INDEX-Werke GmbH and Co. KG Hahn and Tessky, JTEKT Machinery Americas Corp., Kitamura Machinery Co., Ltd., Makino Inc., Mills-CNC Ltd., Mitsui Seiki Kogyo Co., Ltd., Okuma Corp., Phillips Machine Tools India Pvt. Ltd., and Yamazaki Mazak Corp.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market encompasses a wide array of precision equipment, including CNC lathes, drills, milling tools, and grinders, vital for various industries like the aerospace industry, electronics industry, and construction equipment industry. These tools leverage CNC technology to enable mass manufacturing while allowing for mass customization, thanks to their computerized control system and industrial automation features. Incorporating smart gadgets and industrial automation systems, CNC machines integrate seamlessly with CAD and CAM software, facilitating the production of intricate parts for sectors like semiconductor manufacturing equipment and telecom communication devices. Furthermore, they play a crucial role in emerging sectors such as electric vehicles (EV) and power & energy industry.
With real-time data analytics and automated inspection equipment, CNC machines ensure accuracy and energy efficiency while offering advanced features like multi-axis capabilities and adaptive machining. Leveraging Internet of Things (IoT) technology and machine learning (ML), they enable predictive maintenance and data-driven optimizations, catering to the needs of both Small and Medium-sized Enterprises (SMEs) and large-scale industries. The market also witnesses innovations in simulation software, controllers, and PCs, enhancing productivity and safety while addressing challenges such as human error and labor costs. Amidst regulatory considerations and the threat of substitutes, the market continues to evolve, driven by new technologies and digital advancements.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.99% |
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Market Growth 2024-2028 |
USD 23.23 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.69 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, Japan, Germany, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amada Co. Ltd., ANCA Pty Ltd., Andritz AG, Bendable Technology Solutions Pvt Ltd., Chiron Group SE, DMG MORI Co. Ltd., EIT Manufacturing Central GmbH, EMAG GmbH and Co. KG, FANUC Corp., Gebr. Heller Maschinenfabrik GmbH, General Technology Group Dalian Machine Tool Co. Ltd., GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., HWACHEON MACHINERY CO., LTD, INDEX-Werke GmbH and Co. KG Hahn and Tessky, JTEKT Machinery Americas Corp., Kitamura Machinery Co., Ltd., Makino Inc., Mills-CNC Ltd., Mitsui Seiki Kogyo Co., Ltd., Okuma Corp., Phillips Machine Tools India Pvt. Ltd., and Yamazaki Mazak Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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