CNC Machine Tools Market to Increase by $21.9 Billion by 2029

The global CNC machine tools market size is estimated to grow by USD$21.9 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a compound annual growth rate of 5.4% during the forecast period. Rising demand for high-precision and multi-axis machining centers in various industries is driving market growth, with a trend towards technological advancements such as CNC machine tool technology.

High initial investments in CNC machine tools pose a challenge. Key market players include DMG MORI Co. Ltd., FANUC Corp., Okuma Corp, Phillips Machine Tools India Pvt. Ltd.,Yamazaki Mazak Corp. and numerous more.

Click here for full-size image of report graphic. Image courtesy of Technavio.

The CNC machine tool market is experiencing significant growth due to the increasing demand for mass manufacturing and mass customization in various industries, according to Technavio. CNC lathes, drills, milling tools, grinders, and cutting tools are popular choices for precision manufacturing. CNC technology, aided by computerized control systems and industrial automation, is driving the trend, the market research company adds.

New technologies like microchip control, smart gadgets, CAD, CAM, and edge computing are transforming the machine tool industry, reports Technavio. Sectors like automotive, electronics, aerospace & defense, power & energy, construction equipment, and medical devices are major consumers of CNC systems and industrial automation systems. Technological advancements, such as artificial intelligence (AI), automated inspection equipment, image processing technology, and real-time data access, are enhancing productivity and safety.

Efficiency, multi-axis capabilities, spindle speeds, advanced tooling options, and real-time monitoring systems are key features of CNC machines. Semiconductor manufacturing equipment, used CNC machines, and industrial robots are also in high demand, Technavio reports. Human error and labor costs are being minimized through data-driven optimizations and adaptive machining.

Industries like transport machinery, hybrid machinery, electrical equipment, and consumer goods are also benefiting from CNC technology, according to Technavio. Regulatory considerations, such as energy efficiency and safety sensors, are essential factors in the adoption of CNC machines. Investment in IoT, cloud computing, and real-time information access is shaping the future of the CNC machine tool market. 

For key insights into market evolution with AI-powered analysis, explore trends, segmentation, and growth drivers in the sample PDF found here.

CNC machine tools have undergone technological advancements. One major advancement is the integration of advanced control systems and software solutions. Also, user-friendly interfaces simplify machine operation and programming, Technavio reports.

Market Challenges

The machine tool industry is experiencing significant growth due to the increasing demand for CNC machine tools in mass manufacturing and mass customization, Technavio adds. CNC lathes, drills, milling tools, grinders, and cutting tools are industrial devices used in various sectors like automotive, electronics, and aerospace & defense. Industrial automation systems, including CNC systems and industrial robots, are key drivers.

New technologies like artificial intelligence (AI), automated inspection equipment, and image processing technology are transforming the industry, Technavio reports. Multi-axis capabilities, spindle speeds, advanced tooling options, and real-time monitoring systems are crucial for complex machining products, the company adds. Semiconductor manufacturing equipment, telecom communication devices, electric vehicles (EV), and medical devices require high precision and energy efficiency. Used CNC machines offer cost-effective solutions. Regulatory considerations are essential in industries like power & energy and construction equipment. 

Sources: Press materials received from the company and additional information gleaned from the company’s website.