CNC Machines Market Growth and Forecast

CNC machining has transformed the manufacturing industry. It makes the production of parts and products safer, faster, and more efficient. In turn, that leads to higher productivity and higher profits.

Using CNC machining processes has many advantages, so it is no wonder that more and more manufacturers are beginning to embrace this modern type of manufacturing. Here is a look at the current market growth and future forecasts for the CNC machine market.

How do CNC machines work?

CNC machines work via a subtractive fabrication method in which a chosen material gets removed during the production process. Parts or products are first created in CAD software. A CNC machine’s software will then translate the information into G-code. The code determines everything from the part-to-spindle speed to the movement of the cutting head. Contemporary CNC machines are fully automated. All they need is digital files with the instructions for cutting trajectories and tooling.

 It is easy for manufacturers to find a broad range of CNC machines to suit their requirements. Go with a company that is known for specializing in CNC machinery, such as Revelation Machinery. You will find devices like lathes and grinders from some of the leading brands in CNC machinery, such as Okuma, Haas, and Cincinnati.

 The CNC Machine Market Size

According to a report by Grand View Research, Inc., in 2019, the global CNC machine market size was valued at a whopping $67.19 billion (USD). That may sound like a lot. But the report also states the market is expected to expand at a compound annual growth rate of 7.3% between 2020 and 2027. That means that by 2027, the market size is expected to reach an incredible $117.17 (USD).

 Key Findings

 The study found many interesting things besides market size. Some of the key findings were:

·  Over the forecast period of 2020 to 2027, milling machines are expected to emerge as the fastest- growing type segment, due to their innovative features like multi-functionality.

·  The fastest-growing end-use segment over the same period is expected to be the automotive segment, due to a growing demand for parts with a fine finish and reduced production time.

·  Due to the increasing number of manufacturers in the Asia Pacific region, that area is expected to continue its dominance as the leading CNC manufacturing region in the world.

Reasons for the Expected Growth

The growth of CNC automation and the increasing demand for CNC machinery has been primarily driven by the rising need to reduce manpower, errors, and operating costs of the manufacturing process. And as technological advancements continue to develop, CNC machines are becoming ever more capable of performing intricate tasks and creating components and models with a definitive finish. Hence, CNC technology is now being regularly used in milling, lathe, laser, grinding, and welding machines.

Software Enhancements

Enhancements are being made in the field of CNC software. It will soon be easier for operators to connect with machines and improve flexibility within the workplace. And as machine learning technology and the Internet of Things continue to evolve, new features in the world of CNC automation are appearing. For instance, there is now an application that notifies an operator about the status of a machine on his or her smartphone or personal computer.

Machinery Enhancements

The commercial demand for advanced compact size CNC machines that come with multi-axis machining technology and automatic tool changers is on the rise. That is because various large manufacturers are increasingly using CNC machines to perform drilling, cutting, deformation, knurling, facing, and turning operations. And lots of new machines with new features will be coming on to the market. Notable CNC milling tools that are being introduced include solid carbide tools and polycrystalline diamond tools. Both provide greater efficiency and versatility. They are also more durable, have a reduction in vibrations, and are resistant to high temperatures. As technology continues to grow, the market is sure to grow with it.