Computer Numerical Control (CNC) Market Outlook 2023-2028: Industry Demand, Growth Rate (CAGR) of 5.9% and Forecast

According to the latest report by IMARC Group, titled “Computer Numerical Control (CNC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global computer numerical control (CNC) market size reached US$ 81.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 115.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Computer numerical control (CNC) automates machines that operate through programmed commands encrypted on a storage medium. It is used to translate designs produced by computer-assisted designs (CAD) into numerical data. A CNC system consists of three components, including a part program, a machine control unit (MCU), and a machine tool that is used to control both the machine tools as well as the non-machine zones. It has the ability to decrease manpower requirements and provide accurate machining services in the lesser time since the complete process depends on CAD and CAM software. As a result, it is used to automate manufacturing and produce numerous products in industry verticals, such as aerospace, automotive, defense, electronics, and healthcare.

Computer Numerical Control (CNC) Market

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Global Computer Numerical Control Market Trends:

The rising adoption of computer numerical control by various industries on account of the increasing need for improving accuracy and production efficiency is driving the global market. Moreover, the growing popularity of computer-aided design (CAD) software and the significant adoption of 3D printing technology are further catalyzing the market. Apart from this, several major companies are launching new CNC machines that perform multiple operations simultaneously is creating a positive market outlook. In line with this, the increasing initiatives by governments to establish manufacturing units across the globe are providing a boost to product demand. Furthermore, the introduction of machine learning technology and the internet of things (IoT) in the development of applications that notify the status of the CNC machine operators on their computers, as well as smartphones, are further fostering the market.

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Competitive Landscape with Key Players:

  • Mondragon Corporation
  • GSK CNC Equipment Co., Ltd.
  • Soft Servo Systems, Inc.
  • Johannes Heidenhain GmbH
  • Bosch Rexroth AG
  • Siemens AG
  • Sandvik AB
  • Haas Automation, Inc.
  • Mitsubishi Electric Corporation
  • FANUC Corporation.

Breakup by Machine Type:

  • Lathe Machines
  • Milling Machines
  • Laser Machines
  • Grinding Machines
  • Welding Machines
  • Winding Machines
  • Others

Breakup by End Use Industry:

  • Aerospace and Defense
  • Automobile
  • Electronics
  • Healthcare
  • Others

Breakup by Region

  • North America
  • Asia Pacific
  • Europe
  • The Middle East and Africa
  • Latin America.

Key Highlights of the Report:

  • Market Performance 
  • Market Outlook 
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Other Reports of IMARC Group:

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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