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CNC Machine Tools: A Leading Driver Behind Rising Manufacturing Activities Fueling Growth In The CNC Machine Tool Market Market Expansion in 2025
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the CNC Machine Tools Industry Market Size Be by 2025?
The market size of CNC machine tools has seen a consistent growth over the recent years. The industry, currently valued at $28.11 billion in 2024, is projected to expand to $29.5 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 4.9%. Various causes have contributed to the growth during the historic period, including heritage restoration projects, the choice of more robust materials, their cultural importance, public infrastructure projects and lack of comparable alternatives previously.
What's the Long-Term Growth Forecast for the CNC Machine Tools Market Size Through 2029?
It is projected that the CNC machine tools market will experience a robust growth in the upcoming years, with an estimated value expected to reach "$36.33 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.3%. Factors such as the use of mixed material designs, design of public and community spaces, globalization of designs, advances in durability, and regulations promoting conventional materials contribute to the growth in the forecast period. Trends expected to be seen during this forecast period include a wide range of colors and finishes, innovative installation methods, intelligent landscaping and technological integration, customization suitable for contemporary applications, as well as craftsmanship and artistry.
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What Are the Key Growth Drivers Fueling the CNC Machine Tools Market Expansion?
The expansion in manufacturing operations is anticipated to fuel the advancement of the CNC machine tools industry. This refers to the process where raw materials or components are transformed into complete products for sale or use in other sectors. The incorporation of computer numerical control machine tools in manufacturing facilitates the automation of device control, accuracy, and movement via software embedded within the machinery. The growth in manufacturing leads to higher reliance on CNC machine tools. For instance, a report by the US's National Association of Manufacturers (NAM) in September 2024 showed the value-added output in manufacturing rose from $2.881 trillion yearly in Q1 to $2.910 trillion in Q2 in 2024. Manufacturing made up 10.0% of the total value-added output in the U.S. economy during Q2. Furthermore, the actual value-added output in manufacturing increased from an annual $2.337 trillion in Q1 to $2.384 trillion in Q2. Consequently, the surge in manufacturing operations is triggering the advancement of the CNC machine tool industry.
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What Are the Key Trends Driving CNC Machine Tools Market Growth?
Technological advancements are becoming a prominent trend in the CNC machine tool market. Firms engaged in CNC machine tool operations are embracing the latest tech to maintain their market status. For instance, in June 2022, LMW Machine Tool, a CNC machine producer based in India, unveiled two new machines: the JG 50 Vertical Machining Center and the LF20C Twin G Twin Turret Chucker. The JG 50, a small but fast-moving column vertical machining center (VMC), was crafted to address the current industries' need for precise, high-volume production. Rigorous testing was done to ensure its precision and to meet strict quality standards for mass manufacturing. On the other hand, the LF20C Twin G is a high-output turning machine or Chucker, armed with two spindles and two turrets, effectively fusing two CNC Turning Centers into one machine.
How Is the CNC Machine Tools Market Segmented?
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
Subsegments:
1) By Milling Machines: Vertical Milling Machines, Horizontal Milling Machines, Universal Milling Machines, CNC Bed Type Milling Machines, CNC Gantry Milling Machines
2) By Drilling Machines: CNC Vertical Drilling Machines, CNC Horizontal Drilling Machines, CNC Radial Drilling Machines, CNC Deep Hole Drilling Machines, CNC Multi-Spindle Drilling Machines
3) By Grinding Machines: CNC Surface Grinding Machines, CNC Cylindrical Grinding Machines, CNC Tool And Cutter Grinding Machines, CNC Internal Grinding Machines, CNC Centerless Grinding Machines
4) By Other Product Types: CNC Lathes, CNC Plasma Cutting Machines, CNC Laser Cutting Machines, CNC Electric Discharge Machines (EDM), CNC Waterjet Cutting Machines
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Which Companies Are Leading the Charge in CNC Machine Tools Market Innovation?
Major companies operating in the CNC machine tools market include 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.
Which Regions Are Leading the Global CNC Machine Tools Market in Revenue?
Asia-pacific was the largest region in the CNC machine tools market in 2024. 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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