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CNC Machine Market to Reach $128.41 Billion by 2028; Backed by Increasing Adoption of Digitalization Solutions Globally

June 01, 2021 | Machinery & Equipment

The global CNC machine market size is expected to showcase exponential growth by reaching USD 128.41 billion by 2028. This information is published by Fortune Business Insights in its report, titled “CNC (Computer Numerical Control) Machine Market Size, Share & COVID-19 Impact Analysis, By Type (Metal Cutting, Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 81.95 billion in 2020 and is projected to exhibit a CAGR of 6.3% between 2021 and 2028.


NPI Solutions Ltd. Upgrades Old Machine Centers with Significant Investments


In July 2020, NPI Solutions, Ltd., a leading precision machine subcontractor, announced its investments to replace older machining centers. The company has purchased two new Doosan vertical machine centers such as Doosan DNM 6700 and DNM 4000. Moreover, the company brought a new advanced cobot at its 46,000 square feet facility. NPI has decided to invest in the latest technology to improve its operational productivity and efficiency. Kevin Priestly, Managing Director of NPI, said, “We are committed towards continual development and periodically monitor and review our performance. Our older machines were creating a lag in our operations affecting productivity at large. So, we decided to upgrade our machines and approached Mills CNC to further discuss the purchase of the advanced Doosan machines.” Such significant investments by the companies is likely to propel the demand for advanced computer numerical control machines globally.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/computer-numerical-controls-cnc-machine-tools-market-101707


Increasing Focus on Digitalization to Spur Demand


According to the data by the World Economic Forum, digital transformation of companies is estimated to add about USD 100 trillion to the global economy by 2025. Moreover, 90% of the companies are likely to adopt modern technologies into their products and processes by 2025. The growing demand for efficiency, quality, and simplified processes is expected to drive the demand for digitalization worldwide. In addition to this, the onslaught of the COVID-19 pandemic has propelled the companies to go digital to sustain their businesses. These factors are anticipated to bode well for the global CNC machine market growth in the forthcoming years.


Partnership between Prominent Companies to Brighten Their Market Positions


The market is experiencing a healthy competition between major companies that are striving to maintain a stronghold. These companies are partnering with other companies to develop advanced CNC type of machines to cater to the growing demand for several industrial applications worldwide. Furthermore, the adoption of inorganic and organic strategies by other key players to maintain their dominance is anticipated to favor the market growth in the forthcoming years.


Industry Development:



  • April 2019 - Fanuc Corporation collaborated with Preferred Networks, Inc., to develop an AI-based function, AI Servo Monitor. This system collects control data from the spindle axis and feed axis machines to improve operational efficiency with high-speed sampling. 


List of the Companies Operating in the Market:



  • Yamazaki Mazak Corporation (Aichi, Japan)

  • Doosan Machine Tools Co., Ltd. (Seoul, Korea)

  • Trumpf (Ditzingen, Germany)

  • Amada Machine Tools Co., Ltd (Kanagawa, Japan)

  • JTEKT Corporation (Nagoya, Japan)

  • MAG IAS GmbH (Wurttemberg, Germany)

  • Schuler AG (Goppingen, Germany)

  • Makino (Tokyo, Japan)

  • Hyundai WIA (Gyeongsangnam-do, Korea)

  • Komatsu Ltd. (Tokyo, Japan)

  • Okuma Corporation (Aichi, Japan)

  • FANUC Corporation (Yamanashi Prefecture, Japan)

  • XYZ Machine Tools (Devon, United Kingdom)

  • Mitsubishi Heavy Industries Machine Tool Co., Ltd. (Tokyo, Japan)

  • General Technology Group Dalian Machine Tool Corporation (Dalian, Liaoning Province)

  • ANCA Group (Melbourne, Australia)


Further Report Findings:



  • Asia-Pacific stood at USD 44.38 billion by 2020 and is expected to hold the largest global CNC machine market share during the forecast period. This is attributable to the rising machine tool industry that is driving the demand for subtractive and additive CNC machines in the region.

  • The market in North America is expected to experience considerable growth backed by the increasing demand for advanced computer numerical control machines from several industrial applications such as manufacturing and metalworking between 2021 and 2028.

  • Based on application, the precision engineering segment held a market share of about 16.0% in 2020 and is likely to experience substantial growth during the forecast period. This is owing to the increasing demand for the product from the defense, medical, and aerospace sectors.


Table of Segmentation:














































  ATTRIB UTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  Type, Application, Region



By Type




  • Metal Cutting

  • Metal Forming



By Application




  • Automotive

  • General Machinery

  • Precision Engineering

  • Transport Machinery

  • Others (Energy, Electrical, etc.)



By Region




  • North America (By Type, Application, and Country)

    • The U.S. (By Application)

    • Canada (By Application)



  • Europe (By Type, Application, and Country)

    • The UK (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Rest of Europe



  • Asia Pacific (By Type, Application, and Country)

    • China (By Application)

    • Japan (By Application)

    • India (By Application)

    • Southeast Asia (By Application)

    • Rest of Europe



  • The Middle East & Africa (By Type, Application, and Country)

    • GCC (By Application)

    • South Africa (By Application)

    • Rest of the Middle East & Africa



  • Latin America (By Type, Application, and Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America




Computer Numerical Controls (Cnc) Machine Tools Market
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  • 2017-2019
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