The global computer numerical control (CNC) machine market size was estimated at USD 95 billion in 2022 and it is expected to hit around USD 154 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2032.
Asia Pacific computer numerical control machine market size was valued at USD 47.5 billion in 2022.
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By 2032, it is predicted that there would be a demand for more than 2800 thousand CNC machines. The main driver anticipated to propel market expansion throughout the projected period is the rising need for medical devices, electric vehicles (EV), telecom communication equipment, and equipment used in the fabrication of semiconductors. The necessity for five-axis milling and ultra-precision machinery to meet the demands of EV manufactures is also projected to fuel expansion.
Due to increased machine orders across sectors, particularly from Europe, Asia Pacific, and North America, the CNC machine market rebounded strongly in 2022. Due to the pandemic's pent-up demand and backlog of orders, the market had significant growth in 2022. In the near future, this pattern will continue as backlogs from 2020 are caught up. However, it is anticipated that the sales revenues of OEMs would be hampered until 2023 by the global shortage of semiconductors, rising steel prices, and logistical expenses.
Over the course of the projection period, the market for computer numerical control (CNC) machines is anticipated to rise favourably due to automated CNC systems linked with industrial robots including simulation software to boost output. Automation of CNC machines are being used primarily to alleviate the present shortage of trained personnel that most sectors are now experiencing. This makes it possible for manufacturing sectors to boost productivity and efficiency. Incumbents in this market, such Fanuc Corporation and OKAMA America Corporation, focus on integrating new technologies with the current product line to meet this demand. Market difficulties are anticipated as a result of rising raw material costs and a potential scarcity of semiconductors used in CNC machines. In these market circumstances, it is anticipated that used CNC machine demand would rise, limiting the market expansion of new CNC machines. Over the course of the projection, the tendency is anticipated to persist. Long-term changes in the price of raw materials are anticipated to drive up the average unit cost of CNC machines.
| Report Coverage | Details |
| Market Size in 2023 |
USD 99.28 Billion |
| Market Size by 2032 |
USD 154 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Type, End Use, and Geography |
| Companies Mentioned | Yamazaki Mazak Corporation, Doosan Machine Tools Co., Ltd., Trumpf, Amada Machine Tools Co., Ltd, JTEKT Corporation, MAG IAS GmbH, Schuler AG, Makino, Hyundai WIA, Komatsu Ltd., Okuma Corporation, FANUC Corporation, XYZ Machine Tools, Mitsubishi Heavy Industries Machine Tool Co., Ltd., General Technology Group Dalian Machine Tool Corporation and, ANCA Group. |
Key Market Drivers
Increase in demand in mass production plants
Due to their capacity to produce very precise parts and components, CNC systems are being used more often in factories that produce large quantities of goods. Additionally, a variety of procedures utilized in CNC to create standardized components using machine tools, such CAD and CAM, are totally interchangeable. Additionally, the use of CNC in manufacturing facilities directly affects cost reduction while also significantly improving productivity and product quality. Thus, all of the aforementioned CNC capabilities have an impact on the development of industrial sectors like automotive and aerospace & military and present a profitable market potential for U.S. CNC machines.
Demand for Various Industrial Devices and Equipment
One of the key drivers propelling the growth of the computer numerical control (CNC) machine market is the rise in demand for a variety of industrial devices and equipment, such as medical devices, semiconductor manufacturing equipment, telecom communication devices, and electric vehicles (EV).
Growing use of industrial automation in the world's manufacturing sector
The adoption of industrial automation systems in the worldwide manufacturing sector is primarily driven by the growing significance of real-time data for process modelling and predictive maintenance in manufacturing sectors. Automation has several benefits, including higher productivity and lower operating costs for businesses that produce components for the automotive, medical, aerospace, and military sectors. It also improves manufacturing processes quality, safety, uniformity, and accuracy. Due to the increased adoption of sophisticated automated systems, such as CNC machines by automakers to automate their manufacturing processes.
Key market challenges
Key market opportunities
The market for CNC lathe machines was worth USD 17 billion in 2022, and it is anticipated to grow at a CAGR of more than 10.4% during the forecast period. Over the next mid-term, the automotive industry's growing need for CNC lathe machines to produce bespoke parts including cylinder heads, gearboxes, starter motors and other prototype applications is anticipated to propel market expansion. Additionally, the market expansion is anticipated to benefit from technical developments in current CNC lathe systems with new features employed for a variety of applications. For instance, the Cincom L32 XII, a sliding headstock style automatic CNC lathe machine with an automatic tool changer, was introduced by Citizen Machinery Co., Ltd in February 2021. The characteristics allow for the simultaneous execution of several tasks and the machining of complicated structures, such as implants used in medical treatment.
By 2032, there will be a need for more than 600 000 units of CNC laser equipment, representing a CAGR of 9.3% over the projected period. The category is anticipated to develop during the projected period due to the rising demand for CNC laser cutting machines from semiconductor manufacturing businesses to solve the persistent scarcity of semiconductors in all industries. Additionally, market growth is anticipated to be favorable in the next years due to the growing use of CNC fiber laser cutting equipment in the sheet metal processing and kitchenware sectors.
The automobile, aerospace & military, construction equipment, power & energy, industrial, and others subcategories are further divided into the end-use section. By 2032, the industrial sector is expected to account for more than 28 billion and hold more than one-fourth of the market share in 2022. The general manufacturing sectors of packaging, electronics, medicine, and other general industries are included in the industrial section. Growth over the projection period is anticipated to be driven by rising demand for fully automated and turnkey CNC machines to scale up production to fulfill backlogs starting in 2020.
It is anticipated that the surge in EV sales and the rise in demand for the production of ultra-precision components for EVs would be favorable for the expansion of the automotive sector throughout the projected period. It is anticipated that the need for customized automobile parts such crankshafts, cylinder heads, and motor pumps would continue to support market expansion. These variables suggest that by 2032, the automobile industry would require more than USD 24 billion in CNC machines.
Computer Numerical Control (CNC) Machine Market Share, By Region, 2022 (%)
| Regions | Revenue Share in 2022 (%) |
| North America | 31.7% |
| Asia Pacific | 35.9% |
| Europe | 23.4% |
| Latin America | 5% |
| MEA | 4% |
In 2022, the Asia Pacific region had more than 35.9% of the global market share, and it is anticipated that it would continue to hold the top position during the projected period. Sales of CNC machines are expected to reach 790,000 units in 2022 and quadruple by 2032. The market demand is attributed to the surge in industrial equipment manufacturing outsourcing services, the availability of inexpensive raw materials in abundance, and low operational costs that fuel the demand for manufacturing outsourcing and increase the sales of CNC machines over the forecast period.
During the predicted period, Europe is anticipated to experience an 8.7% CAGR. Italy, France, Germany, and the other nations of Europe are the main drivers of the expansion. Over the next few years, market growth is expected to be fueled by a lack of workforce forcing metalworking businesses to raise their spending in automation to boost the productivity of their CNC machines.
Market Segmentation
By Type
By End Use
By Geography
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