The global CNC machine tools market size is projected to reach USD 128.86 billion by 2026, exhibiting a CAGR of 5.5% during the forecast period. Increasing industrial automation is expected to be one of the main forces driving the growth of this market. Manufacturers are gradually adopting smart manufacturing practices. Automation of routine tasks, high connectivity, and advanced data collection and analysis solutions are revolutionizing the manufacturing sector. Moreover, growth in smart factories powered by artificial intelligence systems will boost the uptake of “CNC machine tools“. The demand for these tools will intensify even more as they will lower labor costs and improve productivity. For example, smart devices such as smart meters enable real-time data collection and efficiently regulate energy flow. Lastly, the advent of Industry 4.0 will further accelerate the CNC machine tools market growth during the forecast period.
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Asia-Pacific to be in the Driver’s Seat; North America to Display Strong Growth
Having generated a revenue of USD 44.18 billion in 2018, Asia-Pacific is slated to dominate the CNC machine tools market share. This will mainly be a consequence of increasing demand for lightweight automobiles and a rising inclination towards electric vehicles. This, coupled with rising demand for machinery from aerospace and transportation industries, will feed the growth of this market in the region. In North America, growth will be mainly driven by the fast-paced adoption of advanced technologies. Development of industries other than oil will fuel the CNC market in the Middle East and Africa, while the high employment of advanced compact CNC machines across industries will bode well for this market in Latin America. Market growth in Europe is expected to pick up by 2020, once geopolitical situations in the region stabilize.
Key Industry Developments:
- November 2017: Hyundai WIA and Technical Equipment entered into an exclusive agreement wherein Technical Equipment would get exclusive rights to distribute and develop Hyundai WIA’s CNC machine tools product line.
- September 2018: FANUC America showcased its CNC products at the International Manufacturing Technology Show (IMTS). These products have advanced features such as a high-resolution 3D model machining simulation and the Quick and Simple Startup of Robotization (QSSR) that enables quick connection between FANUC CNCs and robots.
- FANUC America Corporation
- Yamazaki Mazak Corporation
- Amada Machine Tools Co., Ltd
- Hyundai WIA
- General Technology Group Dalian Machine Tool Corporation
- JTEKT Corporation
- Doosan Machine Tools Co., Ltd.
- Okuma Corporation
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1. By Type
- Metal Cutting
- Metal Forming
2. By Application
- General Machinery
- Precision Engineering
- Transport Machinery
- Others (Energy, Electrical and etc.)
3. By Region
- North America (U.S. and Canada)
- Europe (Germany, UK, Russia, Italy, and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- May 2019: Okuma develops production facility in China Okuma (Changzhou) Machine Tool Co. Ltd in order to manufacture the GENOS series, a premium-eco class of horizontal CNC lathes and vertical machining centers, to meet the increasing demand of the Chinese market.
- January 2019: Dynamic International, a distributor of machine tools, has opened a new U.S. owned factory in Korea called Smart Machine Tool Korea.
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Table of Content
5. Global CNC Machine Tools Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts – By Type (Value)
5.2.1. Metal Cutting
5.2.2. Metal Forming
5.3. Market Sizing Estimations and Forecasts – By Application (Value)
5.3.2. General Machinery
5.3.3. Precision engineering
5.3.4. Transport Machinery
5.4. Market Analysis, Insights and Forecast – By Region (Value)
5.4.1. North America
5.4.3. Asia Pacific
5.4.4. Middle East & Africa
5.4.5. Latin America
6. North America CNC Machine Tools Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Sizing Estimations and Forecasts – By Type (Value)
6.2.1. Metal Cutting
6.2.2. Metal Forming
6.3. Market Sizing Estimations and Forecasts – By Application (Value)
6.3.2. General Machinery
6.3.3. Precision engineering
6.3.4. Transport Machinery
6.4. Market Analysis, Insights and Forecast – By Country (Value)
6.4.1. United States
7. Europe CNC Machine Tools Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Sizing Estimations and Forecasts – By Type (Value)
7.2.1. Metal Cutting
7.2.2. Metal Forming
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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