Computer Numerical Controls (CNC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Computer Numerical Controls (CNC) Market was valued at USD 7.87 billion in 2020 and is expected to reach USD 9.53 billion by 2026, at a CAGR of 3.3% over the forecast period 2021 - 2026. The increase in demand for productions efficiency will drive the market in the forecast period.

• There is an increasing demand for production efficiency, as these computer numerical control machines streamline many operational processes by reducing production time and minimizing human error.
• Also, a highly competitive market has compelled players to focus on efficient manufacturing techniques. They are trying to gain competitive advantage by redesigning their facilities, which include CNC machines. Apart from this, the integration of 3D printing with CNC machines is a unique addition to some of the new production units, which is expected to offer better multi-material capability, with little resource wastage.
• The growing demand for automated manufacturing in the industrial sector has resulted in the increasing usage of CNC machines. Also, the establishment of manufacturing facilities in Asia-Pacific has spurred the usage of computer numerical controls in the sector.
• On the other hand, the automotive sector is set to be a rapidly developing one in the coming years, mainly due to the increasing rate of automated automobile manufacturing.
• Also, rising concerns over global warming and depleting energy reserves have led to the production of alternative sources of power, such as solar and water, among various others, which are further promoting the market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.

Scope of the Report

Computer Numerical Control (CNC) Machining is the process through which computers control machine-based processes in manufacturing. The kinds of machines controlled include lathes, mills, routers, and grinders all that are used for manufacturing of metal and plastic products. Applications are in automotive. oil and gas, aerospace and defense and others.

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Key Market Trends

Growing Demand for Automated Manufacturing in Industrial Sector

• Growing demand for automated manufacturing in the industrial sector has resulted in the increasing uptake of CNC machines. Also, the establishment of manufacturing facilities in the Asia Pacific has also spurred the usage of computer numerical controls in this sector.
• CNC machines are also actively used in power generation, as this process requires wide-scale automation. Further, the use of customized parts and critical components used in the industry makes it solutions that the industry are opting to cut down and mitigate any breakdown situation.
• In the automotive sector, CNC plays a vital role recently. From die- casting similar components to crafting unibody frames, CNC tools and machines are solely responsible for a large number of parts present in modern vehicles.
• In fact, carburetor housings, suspension components, axles, bearing caps as well as engine housings are all manufactured using CNC machines. Acrylic/PMMA machining for headlights, exterior lights as well as interior lights are another paradigm on how numerical control machining is being utilized when components are being made in the automotive sector. The automotive sector is set to be the rapidly developing segment in the coming years mainly due to the increasing rate of automated automobile manufacturing.

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