Overview and Scope
CNC is a manufacturing process that automates machine tools’ control, movement, and perfection by applying preprogrammed computer software incorporated into the tools. It is a computerized manufacturing method that regulates the movement of production equipment using code.
Sizing and Forecast
The cnc machine tools market size has grown strongly in recent years. It will grow from $26.83 billion in 2023 to $28.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to heritage restoration projects, preference for durable materials, cultural significance, public infrastructure projects, limited alternatives in the past..
The cnc machine tools market size is expected to see steady growth in the next few years. It will grow to $34.25 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to mixed material designs, community and public spaces design, globalization of designs, advancements in durability, regulations favoring traditional materials.. Major trends in the forecast period include variety in colors and finishes, innovations in installation techniques, smart landscaping and integration with technology, customization for modern applications, craftsmanship and artistry..
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Segmentation & Regional Insights
The cnc machine tools market covered in this report is segmented –
1) By Product Type: Milling Machines, Drilling Machines, Grinding Machines, Other Product Types
2) By Material: Aluminum, Stainless steel, Titanium, Other Material
3) By Application: Automotive, General Machinery, Precision Engineering, Transport Machinery, Other Applications
Asia-pacific was the largest region in the CNC machine tools market in 2023. The regions covered in the cnc machine tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growth of manufacturing activities is expected to propel the growth of the CNC machine tool market going forward. Manufacturing activities refer to transforming raw materials, components, or parts into finished products that can be sold to consumers or used in other industries. Computer numerical control machine tools in manufacturing activities enable the automation of control, precision, and movement of equipment with the help of software that is integrated inside the machine tools. As manufacturing activities grow, there is an increase in dependency on CNC machine tools. For instance, in March 2022, according to the United Nations Industrial Development Organization, an Austria-based specialized agency of industrial and economic development, in the year 2021, the global manufacturing production of goods rose by 9.4%, respectively, as compared to 2020, where the manufacturing activities encountered a drop of 4.2% due to the pandemic crises. Therefore, the growth of manufacturing activities is driving the growth of the CNC machine tool market.
Key Industry Players
Major companies operating in the cnc machine tools market report are Amada Co. Ltd., Yamazaki Mazak Corporation, DMG MORI CO. LTD., TRUMPF Group, Dalian Machine Tool Group Corporation, Haas Automation Inc., Okuma Corporation, Shenyang Machine Tool Co. Ltd., Hurco Companies Inc., JTEKT Corporation, Makino Milling Machine Co. Ltd., GROB-WERKE GmbH & Co. KG., Doosan Machine Tools Co. Ltd., Haitian Precision Machinery Co. Ltd., Gleason Corporation, 3A Composites, FANUC Corporation, GF Machining Solutions Management SA, Chiron Group, Komatsu NTC Ltd., Schuler AG, INDEX-Werke GmbH & Co. KG Hahn & Tessky, Hardinge Inc., Gosiger Tools Inc., Elite Tool Engineering Inc., Central Machinery Tools Inc., Detroit Machine Tools, Hermle Inc., Mitsubishi Electric Power Products Inc., Nakamura-Tome Precision Engineering Co. Ltd.
The cnc machine tools market report table of contents includes:
1. Executive Summary
2. CNC Machine Tools Market Characteristics
3. CNC Machine Tools Market Trends And Strategies
4. CNC Machine Tools Market – Macro Economic Scenario
5. Global CNC Machine Tools Market Size and Growth
….
31. Global CNC Machine Tools Market Competitive Benchmarking
32. Global CNC Machine Tools Market Competitive Dashboard
33. Key Mergers And Acquisitions In The CNC Machine Tools Market
34. CNC Machine Tools Market Future Outlook and Potential Analysis
35. Appendix
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