Computer Numerical Control Machines Market Size, Share & Trends Analysis growing at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030
The global computer numerical control machines market size was valued at USD 66.74 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030. The widespread adoption of computer numerical control (CNC) machines can be attributed owing to their ability to automate manufacturing processes. Computer numerical control machines can execute complex tasks with high precision and consistency, reducing human error and labor costs. These machines can work continuously, 24/7, significantly improving productivity and efficiency in various industries, such as automotive, aerospace, and electronics.
Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/computer-numerical-controls-cnc-market/request/rs1
The CNC machines market recovered well in 2022 due to increased machine orders across industries, especially from North America. Asia Pacific, and Europe. In 2022, the market recorded positive growth owing to the pent-up demand and backlog orders resulting from the pandemic. Furthermore, technological advancements are expected to drive the growth of CNC machines. These machines are becoming more sophisticated, incorporating features such as multi-axis capabilities, improved spindle speeds, advanced tooling options, and real-time monitoring systems. The integration of Internet of Things (IoT) technology and Artificial Intelligence (AI) further enhances their capabilities, enabling predictive maintenance, adaptive machining, and data-driven optimizations.
One significant restraint is the substantial initial investment needed to acquire and establish these advanced manufacturing systems. CNC machines entail significant costs for procurement, installation, and training, creating a financial barrier that can impede their adoption, particularly among Small and Medium-sized Enterprises (SMEs) with constrained budgets. The high capital expenditure associated with CNC machines may restrict their widespread utilization in specific industries or regions.
Additionally, computer numerical control machines market is anticipated to face challenges due to the escalation of raw material prices and an impending shortage of semiconductors used in these machines. The market conditions are expected to drive an increase in demand for used CNC machines, thereby impeding the growth of the market for new CNC machines. This trend is projected to persist throughout the forecast period. Over the long term, fluctuations in raw material prices are expected to result in an upward trend in the average unit prices of CNC machines.
According to Grand View Research analysis the demand for computer numerical control machines is estimated to reach over 2,800 thousand units by 2030. The computer numerical control machines market growth is anticipated to be fueled by the rising demand for semiconductor production equipment, Electric Vehicles (EV), medical devices, and telecom communication devices. Additionally, the increasing need for five-axis mill machines and ultra-precision machines to cater to the requirements of EV manufacturing is expected to drive further growth.
The computer numerical control machines market is anticipated to experience growth in the forecast period, driven by the integration of automated CNC systems with industrial robots and simulation software to enhance production. The adoption of automated CNC machines is primarily motivated by the need to overcome the challenges posed by the scarcity of skilled labor in various industries. This enables manufacturing sectors to improve efficiency and maximize production output. To meet this demand, key players in the industry, such as Fanuc Corporation and OKAMA America Corporation, are focused on integrating new technologies into their existing product portfolios.
For instance, in March 2021, FANUC America Corporation announced to upgrade its CNC portfolio by integrating the rapid as well as Simple Startup of Robotization (QSSR) G-code feature with ss. The company delivers improved computer numerical control machines that machine operators and tool builders to program the robots more efficiently through this integration. Likewise, in August 2021, Made4CNC ApS, announced the launch of a an automated door opener for CNC machines named Safedoor SD100. Safedoor SD100 integrates easily with collaborative robots and offers greater convenience for tending machine operations.
