NEWS

Global CNC Machinery Growth

The global CNC machinery market is projected to reach $130.1 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032. Rapid industrialization in developing countries, increasing demand from automotive, aerospace, and manufacturing industries, and advancements in automation are driving market growth. The Asia-Pacific region is expected to hold the largest market share, with a CAGR of 6.4%, driven by China's and India's manufacturing growth. Despite challenges like slow manufacturing sector growth, labor shortages, and the COVID-19 pandemic's impact, the market is recovering. Key players are launching innovative products, such as DMG Mori's 5-axis machining center and FANUC's automated CNC milling machine. The market is segmented by type, application, sales channel, and region, with the milling machine segment dominating in 2020 and the automotive segment being the highest revenue contributor. Major players include Amada Machine Tools, DMG Mori, FANUC, and Okuma Corporation, focusing on product launches and technological innovation.