Computer Numerical Control (CNC) Market to Reach US$ 115.6 Billion by 2028 | CAGR of 5.9%

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) is a process widely used by computers to control machine-based processes. It automates machines that usually operate through programmed commands encrypted on a storage medium. It involves a large group of machines using logical computer programs to perform metalworking while controlling the overall movements. Additionally, its functioning involves generating a computer-aided design (CAD) and translating it into G-code, which is further loaded in the machine control unit (MCU) that enables an operator to run a series of tests to ensure the accurate positioning and performance of machines. Some of the manufacturing processes performed by CNC machines include grinding, cutting, gluing, hole punching, shaping, bending, welding, and drilling, that is extensively used in the manufacturing of metal and plastic parts.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Global Computer Numerical Control Market Demand:

The escalating demand for computer numerical control (CNC) from the industrial sector majorly drives the global market. This can be attributed to the increasing product utilization in the field of manufacturing, precision engineering, telecommunications, and automotive industries. Along with this, the growing demand for large-scale automation in industries due to the rising need to minimize the overall operational costs, manufacturing time, and chances of human error is also significantly supporting its market. In addition, several key players are integrating CNC systems with industrial robots to enhance efficiency and increase production output, which is acting as another growth-inducing factor. Moreover, numerous CNC manufacturers are launching new machines that perform multiple operations simultaneously, and improving the flexibility of attendants is creating a positive market outlook. Some of the other factors driving the market include several governments supporting the establishment of manufacturing units and rapid industrialization.

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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.

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