Computer Numerical Control (CNC) Market to surpass 121.8 billion in 2030, at a CAGR of 9.0% | IMR

IoT sensors embedded in CNC machines monitor various parameters such as temperature, vibration, and tool wear in real-time. AI algorithms adapt machining processes in real time based on sensor data and environmental conditions.

Machine learning algorithms analyze historical data to identify patterns, optimize toolpaths, and enhance overall machining efficiency. By analyzing data on power usage and machine performance, AI algorithms suggest energy-efficient operating parameters, contributing to cost savings and environmental sustainability. Tasks such as tool changes, material handling, and setup adjustments are automated based on real-time data, leading to improved overall efficiency and productivity thereby driving the market growth.

The automotive sector is expected to witness highest growth during the forecast period. The automotive sector has always been at the forefront of technological progress through its pursuit of precision, efficiency, and innovation. The growing popularity of electric vehicles (EVs) and the increasing demand for processing ultra-precision parts for electric vehicles are expected to have a positive impact on the market growth.  Increasing demand for customized auto parts such as crankshafts, cylinder heads, and engine pumps is also expected to drive the growth of this sector during the forecast period.

The demand for CNC milling machines is expected to witness the highest growth over the forecast period. The global growth of milling machines is attributed to factors such as increasing emphasis on industrial automation and technological advancements. With the advent of Industry 4.0 and the integration of advanced technologies such as artificial intelligence, machine learning, and robotics, milling machines have transformed into intelligent and efficient tools capable of performing complex tasks. Automation reduces the need for human intervention, increasing productivity, increasing accuracy, and seamlessly integrating into manufacturing processes.

Europe CNC market is expected to witness significant CAGR during the forecast period. The region is at the forefront of technological advancement in the manufacturing sector. Continuous innovation and research have developed his state-of-the-art CNC machines with advanced features. Germany, Italy, France, and Central and Eastern European countries are leading this growth. Due to labor shortage, metal processing companies are increasing investments in automation to increase the efficiency of CNC machines, which is expected to drive market growth during the forecast period.

Leading companies are adopting a variety of strategies, including mergers and acquisitions, strategic agreements and contracts, developing, testing, and launching more effective products. The key players operating in the market are DMG Mori Seiki, Fanuc, GF Machining Solutions, Haas Automation, Hassay Savage, Mazak, Okuma, Protolabs, Siemens, and TRUMPF.