Computer Numerical Controls (Cnc) Machine Tools Market by Type (Metal Cutting, Metal Forming), by Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, Others), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), by MEA (Middle East, Africa) Forecast 2024-2032
The Computer Numerical Controls (CNC) Machine Tools Market size was valued at USD 83.99 USD billion in 2023 and is projected to reach USD 306.26 USD billion by 2032, exhibiting a CAGR of 20.3 % during the forecast period.CNC stands for Computer Numerical Control and the machine's purpose of manufacturing by accuracy is made easier through automation. These are electric or computer-controlled machines that use commands from a program to regulate tools and equipment to produce a variety of products with precision and efficiency in different fields. CNC machine tools include traditional ones such as CNC millers, lathes, routers, grinders, and plasma cutters among others but each is adapted to different materials and uses. Some of the features include high-speed operation, the ability to cut complex shapes, ability to create high repeatability which acts as an enabler for complex designs and reduces human effort. CNC machine tools can be used in aerospace and automotive industries, and medical and consumer electronics industries where the manufacture involves making slender components with stringent tolerances. These include increased efficiency in production, lower overhead costs and better quality in the products being manufactured, which translate to faster cycle times and increased competitiveness.
The Asia-Pacific region is expected to dominate the CNC machine tools market due to its significant manufacturing base and increasing government investments in automation.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 20.3% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 20.3% from 2018-2032 |
Segmentation |
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