Computer Numerical Controls (CNC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Computer Numerical Controls (CNC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Computer Numerical Controls (CNC) Market was valued at USD 7.87 billion in 2020 and is expected to reach USD 9.53 billion by 2026, at a CAGR of 3.3% over the forecast period 2021 - 2026. The increase in demand for productions efficiency will drive the market in the forecast period.

Key Highlights

• There is an increasing demand for production efficiency, as these computer numerical control machines streamline many operational processes by reducing production time and minimizing human error.
• Also, a highly competitive market has compelled players to focus on efficient manufacturing techniques. They are trying to gain competitive advantage by redesigning their facilities, which include CNC machines. Apart from this, the integration of 3D printing with CNC machines is a unique addition to some of the new production units, which is expected to offer better multi-material capability, with little resource wastage.
• The growing demand for automated manufacturing in the industrial sector has resulted in the increasing usage of CNC machines. Also, the establishment of manufacturing facilities in Asia-Pacific has spurred the usage of computer numerical controls in the sector.
• On the other hand, the automotive sector is set to be a rapidly developing one in the coming years, mainly due to the increasing rate of automated automobile manufacturing.
• Also, rising concerns over global warming and depleting energy reserves have led to the production of alternative sources of power, such as solar and water, among various others, which are further promoting the market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.

Key Market TrendsGrowing Demand for Automated Manufacturing in Industrial Sector

• Growing demand for automated manufacturing in the industrial sector has resulted in the increasing uptake of CNC machines. Also, the establishment of manufacturing facilities in the Asia Pacific has also spurred the usage of computer numerical controls in this sector.
• CNC machines are also actively used in power generation, as this process requires wide-scale automation. Further, the use of customized parts and critical components used in the industry makes it solutions that the industry are opting to cut down and mitigate any breakdown situation.
• In the automotive sector, CNC plays a vital role recently. From die- casting similar components to crafting unibody frames, CNC tools and machines are solely responsible for a large number of parts present in modern vehicles.
• In fact, carburetor housings, suspension components, axles, bearing caps as well as engine housings are all manufactured using CNC machines. Acrylic/PMMA machining for headlights, exterior lights as well as interior lights are another paradigm on how numerical control machining is being utilized when components are being made in the automotive sector. The automotive sector is set to be the rapidly developing segment in the coming years mainly due to the increasing rate of automated automobile manufacturing.

Asia-Pacific Holds the Largest Share in Computer Numerical Controls Market

• Developing economies, such as China and India, have been witnessing rapid growth in terms of industrialization, thereby driving the market. The automotive sector is expected to grow significantly during the forecast period, owing to the rising demand for automobiles in the region.
• The easy availability of labor and the declining prices of components have resulted in manufacturers shifting their production units in this region, which is further promoting the market. nearness to the supply and demand region is among the critical factor that drives the adoption in this region.
• Moreover, the establishment of manufacturing facilities in the Asia Pacific has spurred the usage of computer numerical controls in this sector. On the other hand, the automotive industry is set to be the rapidly developing segment in the coming years, mainly due to the increasing rate of automated automobile manufacturing. Increased efficiency, time effectiveness, and precision & accuracy provided across metalworking industries such as the automobile and manufacturing industries are expected to drive the CNC market.

Competitive Landscape

The major players include Hurco Companies Inc., Protomatic Inc., Metal Craft, AMS Micromedical LLC, JTEKT Corporation, Haas Automation, Fanuc Corporation, Siemens AG, DMG Mori Seiki Co., and others. The market concentration is expected to be moderate because there is no competition among the players. The accompanying software and its operability on industrial systems are of critical importance for the selection of these systems and is among the major strategy of the market vendors for innovations.

• April 2019 - Simens launched a new version of the software tool for planning and simulating automation networks on the market. Sinetplam V2.0, which supports the plant planner, builders, and operators of the automation system. They company plans to showcase its new features which integrates into the digital planning and engineering workflow, at the Hannover Messe 2019.
• May 2018 - Bonsai, the AI startup, and Siemens deployed Artificial Intelligence on a real-world machine in a test environment that marked the first time deep reinforcement learning had been successfully applied to auto-calibrate real-world computer numerical control (CNC) machines. Siemens experts trained an AI model, using Bonsai’s AI platform, to auto-calibrate a CNC machine more than 30 times faster than an expert human operator.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Hurco Companies Inc.
Protomatic Inc.
Metal Craft
AMS Micromedical LLC
JTEKT Corporation
Haas Automation
Fanuc Corporation
Dr. Johannes Heidenhain GmbH
Siemens AG
DMG Mori Seiki Co.
Takisawa Machine Tool Co. Ltd

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