CNC Machining And Turning Centers Market Size, Share & Trends Analysis Report By Product (Machining Centers, Turning Centers), By End-use (Automotive, Aerospace), By Application (High End, General Applications), By Region, And Segment Forecasts, 2024 - 20

CNC Machining And Turning Centers Market Size, Share & Trends Analysis Report By Product (Machining Centers, Turning Centers), By End-use (Automotive, Aerospace), By Application (High End, General Applications), By Region, And Segment Forecasts, 2024 - 2030

CNC Machining And Turning Centers Market Growth & Trends

The global CNC machining and turning centers market size is anticipated to reach USD 40.61 billion by 2030 and is anticipated to expand at a CAGR of 6.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The advancements in technologies for CNC machining centers and turning centers, such as multi-axis arms & robotics, are expected to drive the market expansion. These machines can work continuously, 24/7, significantly improving productivity and efficiency in various industries, such as automotive and aerospace, which is expected to further fuel the market growth of CNC machining and turning centers.

The surge in global automotive production has directly influenced the demand for CNC machining and turning centers, which are integral for manufacturing automotive parts. The surged use of these centers in automotive production can be attributed to the increasing complexities in automotive design and the requirement for precision parts that meet stringent quality standards. Moreover, CNC machining and turning centers offer ideal precision, flexibility, and efficiency in producing a wide range of automotive components, including engine parts and small intricate pieces for the automotive industry. This ensures high-quality output that matches the evolving automotive industry requirements.

For instance, according to the International Organization of Motor Vehicle Manufacturers, automotive production in Asia-Oceania increased from 44.3 million units in 2020 to 55.1 million units in 2023. Moreover, there was a 20% growth in automotive production in 2023 compared to that of 2020 in Asia-Oceania. Thus, the surging automotive production is expected to drive the demand for CNC machining centers and turning centers, thereby leading to market growth in the coming years.

CNC machining centers and turning centers contribute to increased productivity and efficiency in terms of manufacturing of components used in the oil & gas industry through automation, multi-axis machining, and optimized machining strategies. These centers enable manufacturers to reduce cycle times, minimize setup times, and improve overall process reliability. For instance, CNC machining centers with pallet changers and automatic tool changers allow continuous production of components with minimal downtime, thereby optimizing resource utilization in oilfield equipment manufacturing facilities.

CNC machining centers and turning centers are at the forefront of meeting these requirements of the oil & gas industry by offering precision, efficiency, and productivity in the manufacturing of critical components used in this industry. According to the Energy Institute Statistical Review of World Energy, oil production in the Middle East increased from 1,408.3 million tonnes in 2019 to 1,441.6 million tonnes in 2022. Similarly, the production of oil in North America increased from 1,109.6 million tonnes in 2019 to 1,131.1 million tonnes in 2022.

CNC Machining And Turning Centers Market Report Highlights

• The machining centers dominated the product segment with a 61.6% share in 2023. CNC machining centers are advanced computer-controlled machines used for producing complex parts with high precision and efficiency. These centers are pivotal in modern manufacturing environments, where they play a crucial role in various industries, including aerospace, automotive, and medical device manufacturing. Furthermore, CNC machining centers are specialized pieces of equipment that utilize computerized controls to manage the movement and operation of cutting tools.
• CNC turning centers are state-of-the-art machines that execute precise machining operations by rotating the workpiece. At the same time, various cutting tools are applied to it, shaping the material to the desired dimensions and forms. This process is distinct from CNC milling, where the tool rotates instead. Moreover, CNC turning centers are equipped with a computer interface that allows operators to input precise instructions for the machine to execute, allowing for the production of complex shapes and designs with high accuracy.
• High-end applications of CNC machining centers and turning centers include applications related to aerospace components, medical implants and devices, automotive prototyping, and production, among others. They are often categorized into two main types: Vertical Machining Centers (VMCs) and Horizontal Machining Centers (HMCs).
• VMCs have their spindle in a vertical orientation, making them well-suited for die-sinking work. With their easy setup and good chip evacuation, they are ideal for milling, drilling, and tapping operations. For instance, the Haas VF-2 is a prime example of a vertical machining center designed for precision and efficiency.
• HMCs feature a spindle in a horizontal orientation. They are known for their high-production capabilities, especially beneficial for jobs requiring many tool changes. For instance, the Makino A51nx is a high-performance HMC used in the automotive industry for manufacturing intricate parts like engine blocks and transmission casings. Its robust design and advanced control technology allow for machining parts with high precision and minimal downtime.
• CNC machining centers and turning centers have revolutionized the automotive industry by enhancing the efficiency, precision, and speed of the manufacturing process. They can perform various machining operations such as milling, drilling, and tapping in a single setup that significantly reduces manufacturing time and enhances productivity. For instance, complex engine components such as cylinder heads and engine blocks are manufactured with high precision using CNC machining centers. These centers can maintain tight tolerances, which ensure that each manufactured part meets stringent quality standards that are crucial for the performance and safety of vehicles.
• Asia Pacific witnessed a 10% increase in vehicle production volume in 2023, compared to 2022, which was nearly 55.1 million units. CNC machines are used to manufacture automotive components, such as wheels, helical gears, bevel gears, and other power transmission components. Hence, the rising demand and production of automotive vehicles are expected to positively affect the demand for CNC turning centers and machining centers.
• In April 2024, DMG MORI acquired KURAKI Co., Ltd. to foster expansion. It is intended to rebrand the merged entity as DMG MORI Precision Boring Co., Ltd. KURAKI's portfolio, primarily consisting of CNC horizontal boring and milling machines, is a significant aspect of this acquisition. This move is expected to enable the company to embrace new technologies pioneered by KURAKI, thereby enhancing its offerings in the portfolio of CNC machining centers and turning centers.

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