CNC Cutting Machines Market 2023 Growth Estimates USD 6.1 billion Worth Driving by Key Segments, Growth Factors, Size, Industry Trends and Global Forecast to 2030
Research Reports
Feb 16, 2023
CNC Cutting Machines Market Research Insights
According to MRFR analysis, the global CNC Cutting Machines market industry is projected to grow from USD 3.8 Billion in 2022 to USD 6.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.1 % during the forecast period (2022 – 2030)
The computer numerical controls (CNC) market has been established due to the need for increased production efficiency. Automation allows CNC machines to produce more accurate and faster parts, which supports new technology. Previously, cutting parts using traditional tools required a lot of time. Additionally, the main difficulty with conventional cutting machines was their lack of efficiency.
Key Market Growth Drivers
- Automation in emerging economies
- The rising demand for the automotive industry is driving market growth
|
Market Size 2021 |
USD 3.6 billion |
|
Market Size 2022 |
USD 3.8 billion |
|
Market Size 2030 |
USD 6.1 billion |
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However, these issues have been resolved due to the advancement of CNC cutting machines. The need for CNC cutting machines is expanding quickly on a global scale. The expansion of the automobile industry and the increase in the furniture industry are two aspects that are fueling the growth of the global market. However, the shortage of qualified workers will likely hamper the worldwide CNC cutting machines market expansion over the forecast period.
The outburst of COVID-19 pandemic had halted the production of many products in the CNC metal cutting machines market, owing to the implementation of the global lockdown. However, the bioenergy market is anticipated to recover soon as manufacturers are focusing on protecting their staff, operations, and supply networks to respond to crucial emergencies and establish new methods of working.
Industry News
In September 2022 – Tukatech, a fashion industry expertise chief in Los Angeles, USA, partnered with FK Group and launched the GP-800 high-quality computerized cutter having a compression capacity of up to 8.00 cm.
Key Companies in the CNC Cutting Machines market include
- Biesse Group
- HOMAG Group
- Anderson Group
- MES Inc.
- MultiCam Inc.
- Thermwood Corporation
- The Shoda Company
- ShopSabre
- AXYZ Automation Group
- DMG MORI
- KOMO Machine Inc.
- TRUMPF, among others
CNC Cutting Machines Market Regional Analysis
The Asia Pacific is dominating the global CNC cutting machines market. The ample raw material benefit and obtainability of cost-competitive workforces are the major factors impacting the market growth in the region. The rising adoption of these machines, increasing automation in manufacturing sectors, and rapid industrialization in this region drive the market demand.
North America holds the second position in the global CNC cutting machines market. Massive technological advances and automation in manufacturing sectors boost the market value. Additionally, the high product demand from booming manufacturing sectors substantiates market revenues in this region. Also, the growing application areas and integration of CNC cutting machines with the current manufacturing environment propel regional market growth.
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CNC Cutting Machines Market Segmentation
The Global CNC Cutting Machines Market has been segmented into product type and end-user
Based on product type, The Global CNC Cutting Machines Market has been segmented into Machining Centers, Lathe Machines, Gear Cutting Machines, Laser Cutting Machines, and Others. The machining centers segment held the highest market share, holding more than two-thirds of the total market share, and is anticipated to continue its leadership status during the forecast period.
Based on end users, The Global CNC Cutting Machines Market has been segmented into Automobile, Aerospace &Defense, Electronics, Power & Energy, and Others. The automobile segment held the largest market share, holding nearly one-fifth of the total market share, and is anticipated to continue its leadership status during the forecast period.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 23
2 MARKET INTRODUCTION 26
2.1 DEFINITION 26
2.2 SCOPE OF THE STUDY 26
2.3 MARKET STRUCTURE 27
3 RESEARCH METHODOLOGY 28
4 MARKET DYNAMICS 35
4.1 OVERVIEW 35
4.2 DRIVERS 36
4.2.1 GROWTH OF THE AUTOMOTIVE INDUSTRY 36
4.2.2 INCREASE IN FURNITURE PRODUCTION 37
4.3 RESTRAINTS 38
4.3.1 LACK OF SKILLED LABOUR 38
4.4 OPPORTUNITIES 38
4.4.1 AUTOMATION IN EMERGING ECONOMIES 38
4.5 COVID-19 IMPACT ANALYSIS 39
4.5.1 IMPACT ON SEMICONDUCTOR COMPONENT MANUFACTURERS 39
4.5.2 IMPACT ON THE GLOBAL CNC CUTTING MACHINES MARKET 39
4.5.2.1 IMPACT ON SUPPLY CHAIN 39
4.5.2.2 PRICE VARIATION OF KEY RAW MATERIALS 40
4.5.2.3 PRODUCTION SHUTDOWN 40
4.5.2.4 IMPACT ON MARKET DEMAND 40
Continue…
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