CNC Cutting Machines market size, share and forecast to 2030

0
543

CNC Cutting Machines market Overview

According to the available data, the global CNC Cutting Machines market size was valued at USD 3.6 billion in 2021. The market is expected to experience significant growth, with projected revenues reaching USD 3.8 billion in 2022 and USD 6.1 billion by 2030. This indicates a compound annual growth rate (CAGR) of 6.1% during the forecast period, which spans from 2022 to 2030.

CNC (Computer Numerical Control) cutting machines are advanced manufacturing tools used to precisely cut various materials, such as metal, wood, plastic, foam, and more. These machines are widely employed in industries like aerospace, automotive, construction, and fabrication due to their accuracy, efficiency, and versatility.

Get the sample copy of report here

Market Key Players:

CNC Cutting Machines market Key Companies in the include

·       Biesse Group

·       HOMAG Group

·       Anderson Group

·       MES Inc.

·       MultiCam Inc.

·       Thermwood Corporation

·       The Shoda Company

·       ShopSabre

·       AXYZ Automation Group

·       DMG MORI

·       KOMO Machine Inc.

·       TRUMPF, among others

Market Drivers:

Technological Advancements:  The CNC cutting machines market has witnessed continuous technological advancements, including improved machine controls, software integration, faster cutting speeds, and multi-axis capabilities. These advancements have enhanced the efficiency and capabilities of CNC cutting machines.

Rising Demand for CNC Plasma and Laser Cutting Machines: CNC plasma and laser cutting machines have gained popularity due to their versatility and ability to cut a wide range of materials with different thicknesses.

Automotive and Aerospace Industry Growth: The growth of the automotive and aerospace industries has contributed significantly to the demand for CNC cutting machines. These industries rely on CNC machines for cutting and shaping metal components used in vehicles and aircraft.

Growing Adoption in Small and Medium-Sized Enterprises (SMEs):  The decreasing cost of CNC cutting machines and increased accessibility have encouraged their adoption in small and medium-sized enterprises looking to improve their manufacturing capabilities.

CNC Cutting Machines Market Segmentation

CNC cutting machines come in various types, each catering to specific needs and applications. The movable gantry type offers flexibility in movement, while the stationary gantry type provides stability during cutting operations.

In terms of products, CNC cutting machines are available in plasma, laser, waterjet, and router variants, each suited for different materials and precision requirements.

These machines find applications across wood working, stone working, metal working, and other industries.

End users of CNC cutting machines span various sectors including automotive, building & construction, consumer goods, electronics, aerospace & defense, medical, energy & power, furniture, transportation, and others.

Geographically, the market for CNC cutting machines is distributed across regions like North America, Europe, Asia-Pacific, and the Rest of the World, reflecting a global demand for these advanced cutting solutions.

CNC Cutting Machines Industry Developments

·       August 2021:

In August 2021, MES Inc. made a significant announcement regarding the acquisition of Versatech, LLC. Versatech is a prominent manufacturer of CNC machine solutions. With this strategic acquisition, MES Inc. aims to enhance its position and visibility in the last-mile manufacturing industry. This move is expected to bolster MES Inc.'s portfolio and strengthen its capabilities in providing CNC cutting solutions to its customers.

·       September 2021:

In September 2021, Kongsberg Precision Cutting System finalized its decision to strategically acquire MultiCam. MultiCam is a renowned developer and distributor of CNC cutting machines. By acquiring MultiCam, Kongsberg Precision aims to expand its customer base in key markets, including the United States, Canada, and Germany. This acquisition is likely to enable Kongsberg Precision to tap into new opportunities and further establish its presence in the CNC cutting machines industry.

These developments in the CNC cutting machines industry indicate a trend of companies seeking to expand their market reach and enhance their offerings through strategic acquisitions.

Explore trending research reports@

Steel Wind Tower Market

CNC Router Market

Bearing Market

India Rice Milling Market

 

Sponsored
Search
Sponsored
Categories
Read More
Business
Automotive Noise, Vibration, and Harshness (NVH) Materials Market Market Metrics Unleashed: Segmentation, Outlook, and Overview Trends | 2024-2030
Automotive Noise, Vibration, and Harshness (NVH) Materials Market size was valued at USD...
By Rajnandini Kulkarni 2024-04-05 12:05:13 0 555
Products and stores
Skins in Whiteout Survival: How to Acquire Them
Acquiring Skins in Whiteout Survival In Whiteout Survival, survival skills and...
By Xtameem Xtameem 2024-08-21 00:50:43 0 59
Business
Analyzing the Impact of COVID-19 on the Analytics as a Service Market: Trends and Forecast
Analytics as a Service Market Share Overview: A wide number of topics are covered in...
By Bethany Stewart 2023-09-14 07:08:59 0 1K
Business
How Global Fertilizer Demand is Impacting Ammonium Sulfate Prices
The report "Ammonium Sulfate Market by Type (Solid, Liquid), Application (Fertilizers,...
By Stephen Lobo 2024-10-28 18:33:26 0 0
Business
Software as a Service Market SWOT Analysis and Business Insights Report 2023-2030
Software as a Service (SaaS) Market Overview: Many industry experts and research analysts from...
By Bethany Stewart 2023-07-14 06:40:26 0 1K