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CNC Machining Projected to be $100B Industry by 2025

August 21, 2019 by freemexy  

CNC Machining Projected to be $100B Industry by 2025

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In recent years, an increasing number of production facilities have adopted CNC lathes as their tooling of choice. By 2025, experts expect the global CNC machine market to grow to $100.9 billion in value, registering an annual growth rate of 6.8%.

Leading the Market
The lathe machines segment of the market held a significant leading share of more than 27% in 2016. Due to features such as reduced time requirements and multifunctionality, industry analysts predict the milling machines segment to see a compound annual growth rate of an estimated 9.5%.

Through 2025, this segment will likely continue to dominate this area of the market, reaching an expected valuation of $25.17 billion.

CNC Market Drivers
One of the most common prototype production methods, CNC machines operate automated tools using computer-programming inputs. CNC machinery manufacturing is experiencing a rapid rise in growth due to the need to:
CNC machines offer manufacturers a number of advantages. The growing use of practices like computer-aided manufacturing (CAM) and computer-aided design (CAD) in product design and prototyping enhances manufacturers' ability to deliver high-precision components on time. This drives growth in CNC machinery adoption and use because successfully implementing CNC equipment reduces operating costs and improves the efficiency of mass production.

Because CNC machines allow for an incredible degree of accuracy when carving complex shapes such as diagonal cuts and curves, demand has exploded with the rise in technological advancements of CAD, CAM, and other CNC software.

By saving end users significant time between design and production, CNC machining improves a facility's capabilities and increases revenue. CNC machinery also provides more precise detailing than 3D printers and works with a wider range of materials.

This improved production capacity, as well as the enhanced quality and precision CNC tooling brings, make it a solid choice for manufacturers across a wide range of industries.