Computer Numerical Controls (CNC) Market Size

Computer Numerical Controls (CNC) Market Analysis

The Computer Numerical Controls Market size is estimated at USD 100.78 billion in 2024, and is expected to reach USD 146.65 billion by 2029, growing at a CAGR of 7.79% during the forecast period (2024-2029).

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 a 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 market growth. CNC machines are also actively used in power generation, as this process requires wide-scale automation.