Global CNC Cutting Machines Market Grows Steadily at a CAGR of 6.3%

Introduction

Using CAD software, a computer numerical control (CNC) machine is a precise cutting tool that produces intricate components. CNC's advantages over manual fabrication are precision, speed, efficiency, and productivity. A trained operator can cut dozens of pieces with the same tool in an hour instead of hundreds of components being instantly finished by an automated tool. On the market, there are many different types of CNC machinery. However, the analysis's scope considered machinery, including CNC routers, laser, plasma, and waterjet systems. Leather, stone, glass, metal, and plastic are just a few materials these CNC machines can cut, engrave, and etch.

Market Dynamics

Growth in the Automotive Industry Drives the Global Market

Manufacturing automobiles is one of the major end-use sectors for CNC cutting machines. The industrial dynamics of the modern economy are driven by the rapid development of developing markets in Asia-Pacific and South America, the swift ascension of new technologies, sustainability regulatory rules, and rapidly shifting consumer decisions about car ownership. Digitization, greater automation, and evolving business models have changed the automotive industry. These new industry dynamics in the automotive sector have given rise to four disruptive technology trends: autonomous driving, diversified mobility, connectivity, and electrification. According to industry experts, the four trends will accelerate and reinforce one another, and the automotive industry is ready for rapid growth.

Additionally, the industries' driving forces are connectivity services, shared mobility, and feature updates. The new business models in the sector could boost auto sales by about 30%. The enormous revenue growth in the automotive industry will result in a sharp increase in the demand for CNC-cutting machines. To meet the growing need, the production of automobiles will increase, necessitating manufacturers' use of CNC cutting machines.

Automation in Imperial Economic Systems Creates Tremendous Opportunities

In developing countries like India, Brazil, Mexico, Vietnam, and Cambodia, automation technology is expected to increase, creating new business prospects for suppliers of CNC cutting machines. Critical machinery is becoming increasingly necessary due to the COVID-19 pandemic, and CNC makers are now acknowledged as essential to vital services. Industrial design companies increasingly use CNC machines for modular kitchens, furniture, play and educational equipment, and PoS units. For instance, DT Solutions has purchased CNC equipment to satisfy the increasing output need. The importance of educating specialists on how to utilize CNC software and reduce production delays has also increased. As a result, growing automation in emerging countries would present lucrative growth opportunities for businesses that compete in the global CNC cutting machines market.

Regional Analysis 

Asia-Pacific is the highest revenue contributor and is anticipated to exhibit a CAGR of 7.25% during the projection period. Asia-Pacific is predicted to have the highest demand for CNC cutting machines between 2021 and 2027, primarily because of the growing product demand from top manufacturing nations like China, India, and Japan for automotive and industrial parts. This region has the largest manufacturing hubs for consumer products, electronics, cars, and machine tools. During the study period, it is also projected that the development of the local automotive industry will boost demand for CNC routers by raising the standard of industrial and automotive parts manufacturing.

Europe is anticipated to exhibit a CAGR of 5.35% during the forecast period. The market for CNC cutting machines in Europe is likely to grow significantly over the projected period, mainly due to an increase in the usage of cutting-edge technology and local import and export operations. In addition, the region is a hub for the automotive industry due to the presence of leading manufacturers with vast production capacities, including Audi, BMW, and Volvo. The market's expansion is also anticipated to be positively impacted by this. The increased RandD expenditures of European firms are expected to impact the market expansion in this sector substantially. The industry is also predicted to grow as the frequency of infrastructure renovations increases.

Key Highlights

• The global CNC cutting machines market was valued at USD 4,660.40 million in 2022. It is projected to reach USD 8,076.49 million by 2031, growing at a CAGR of 6.3% during the forecast period (2023-2031).
• The global CNC cutting machines market is bifurcated based on type into stationary and movable gantry types. The stationary gantry type segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.50% during the forecast period.
• Based on product, the global CNC cutting machines market is bifurcated into plasma, laser, waterjet, and router. The router segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.60% during the forecast period.
• Based on application, the global CNC cutting machines market is bifurcated into woodworking, stone working, metalworking, and others. The metalworking segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.25% during the forecast period.
• Based on end-use, the global CNC cutting machines market is bifurcated into automotive, building and construction, consumer electronics, aerospace and defense, medical, energy and power, furniture, transportation, and others. The automotive segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.60% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 7.25% during the forecast period.

Competitive Players

1. Biesse Group
2. HOMAG Group
3. Anderson Group
4. Exel CNC Ltd
5. MultiCam Inc
6. Thermwood Corporation
7. The Shoda Company
8. ShopSabre

Recent Developments

• February 2022- DMG MORI introduced its ultra-high precision integrated mill turn center "NTX 2500, 3000 2nd Generation," with a new distance between centers and 3,000 specifications.
• August 2021- MultiCam Inc., one of the major manufacturers of CNC cutting solutions produced in America, announced the launch of the all-new Apex5R CNC router, building on the success of its trendy APEX router product line. Apex5R is widely sought for its remarkable speed, potent spindle options, unparalleled precision, and unwavering reliability because it was designed with the industrial environment in mind. This purpose-built router raises the bar for heavy-duty and advanced manufacturing by fusing the best elements of tried-and-true contemporary cutting technology, design, and craftsmanship.

Segmentation

1. By Type
   1. Stationary Gantry Type
   2. Movable Gantry Type
2. By Product
   1. Plasma
   2. Laser
   3. Waterjet
   4. Router
3. By Applications
   1. Wood Working
   2. Stone Working
   3. Metal Working
   4. Others
4. By End-User
   1. Automotive
   2. Building and Construction
   3. Consumer Electronics
   4. Aerospace and Defense
   5. Medical Energy and Power
   6. Furniture
   7. Transportation
   8. Others