THE GLOBAL CNC MILLING MACHINES MARKET SIZE IS EXPECTED TO REACH USD 21.55 BILLION BY 2026, GROWING AT A CAGR OF 8.72%.

CNC Milling Machines Market Size, Share, & Trends Analysis Report by Product Type (Vertical, Horizontal, and Universal CNC Milling Machines), By Axis Type (3 Axis, 4 Axis, and Others), By End User (Automobile, Electrical & Electronics, Aerospace & Defense, and Others), By Geography (Europe, APAC, North America, Latin America, and the Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026.

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Most Exhaustive Report

248 Pages

63 Tables

108 Charts

5 Regions

17 Countries

22 Companies

4 Market Segment

CNC Milling Machines Market Report Scope

Report Attribute Details
MARKET SIZE (REVENUE) USD 21.55 Billion (2026)
CAGR 8.72% (2021-2026)
Base Year 2020
Forecast Year 2021-2026
Market Segments By Product Type (Vertical CNC Milling Machines, Horizontal CNC Milling Machines, and Universal CNC Milling Machines), By Axis Type (3 Axis, 4 Axis, and Others), By End User (Automobile, Electrical & Electronics, Aerospace & Defense, and Others)
Geographic Analysis Europe, APAC, North America, Latin America, and Middle East & Africa
Countries Covered UK, Germany, France, Spain, Italy, US, Canada, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, Rest of Middle East & Africa, China, India, Japan, South Korea

GLOBAL CNC MACHINE MARKET OVERVIEW

The global CNC milling machines market size was valued at USD 13.05 billion in 2020 and is expected to exhibit a compound annual growth rate (CAGR) of 8.72% to reach USD 21.55 billion by 2026. 

Milling is a method of removing excessive or unwanted material from any metal or other objects using a rotary cutter to give it a desired shape and size. This is done using a milling machine which is either manually controlled or automatic or both. The major end-users of CNC milling machines include automotive, aerospace, electrical & electronics, and others. The automotive sector accounts for the highest share in the global computer numerical control milling machines market among the end-users. It can be due to the high demand for precision parts and other parts used in the automotive sector. Moreover, the global automotive industry is the major contributor to the world’s economy and generates the highest demand for CNC milling machines. In 2020, the automotive sector accounted for over 35% of the market.

Key Highlights

  • With a rising emphasis on Industry 4.0, vendors operating in the market are also revolutionizing their procedures by leveraging automated manufacturing systems. It has pushed the demand for CNC milling machines in the past.
  • The COVID-19 pandemic has led to several casualties and negative impacts on many businesses worldwide. Several automotive manufacturers shut down their production facilities due to the imposed lockdown. Therefore, the utilization of CNC milling declined in 2020 due to a lack of investments from end-users. It is one of the sharpest declines in the market after the economic recession of 2008.
  • Due to the COVID-19 pandemic, the Chinese supply reduction of intermediate inputs has impacted the productive capacity. Thus, exports of any given country are based on how dependent its industries are on Chinese suppliers.
  • North America will continue its steady growth after 2021 during the forecast period. APAC will dominate the market and witness strong traction in demand for machine tools during the forecast period.
  • Companies with better financial resources can develop innovative products that render competitors’ products non-effective even before their launch in the market or before their R&D costs are recovered. Therefore, vendors must develop new technologies.

CNC Milling Machines Market Segmentation

This research report includes a detailed segmentation by

  • Product Type
  • Axis Type
  • End user
  • Geography

Segmentation Analysis

  • Vertical and horizontal milling machines both perform roughly the same operations, but the production process is different. Both types have advantages and disadvantages, and both are better suited to operations. However, since vertical milling machines are cheaper than others, they are most popular used across end-users.
  • The 3-Axis type CNC milling machine ​​is the most popular concerning axis type because of its low price and simplicity to use. However, there are limitations with this type of machine as it cannot be used on a machine with complex geometry.
  • 5-6 axis CNC milling machine offers fast working, precise, and micromachining. It has several functions which are superior to 3 or 4-axis milling machines. These machines are majorly used for producing parts/components such as aerospace products, oil, and gas machine parts, car molds, medical technology, architectural door frames, military-grade products, and others. As a result, factors such as high precision, application in complicated operations, and enhanced productivity are projected to drive demand for 6-axis CNC milling machines.
  • The demand for CNC milling machines is supposed to increase in the coming years due to expansions and investments by private and public players. Automotive, aerospace, electronics, and other industries have strengthened their presence in Europe, APAC, and North America and are still expanding in various countries.

Geographical Analysis

  • In 2020, APAC was the most significant revenue contributor to the global CNC milling machine market, with almost half of the market shares. The CNC milling machine market in India was valued at USD 0.53 billion in 2020 and is expected to reach USD 0.97 billion by 2026. In APAC and globally, China accounted for a substantial stake in the CNC tools market because of the increasing number of investments in the industrial automation market and YoY growth in government spending toward defense aircraft and equipment in major economies across the region.
  • ​​ ​​Europe was the second-largest market for machine tools in 2020, accounting for a share of 32.52% in terms of production. The region was led by Germany, where the demand for CNC milling machines is high.
  • Latin American industrial production made substantial gains, especially in the automotive, electrical, and electronics sectors hence driving demand for CNC milling machines.
  • Saudi Arabia Government has invested over USD 70 billion to build six cities with regulatory adjustments and infrastructure to attract manufacturing companies. Thus, there is an expected surge in demand for machine tools in the region.

Vendor Analysis

  • COVID-19 has adversely affected the computer numerical control milling machines market share. The competition is intense between the big players, and the key markets for vendors are North America, APAC, and Europe. The prominent vendors in this market are Doosan, Fives, F-Zimmermann, Jtekt, and Makino.
  • The market is slowly shifting from being concentrated, with few vendors enjoying a more significant chunk of the overall share, becoming a fragmented one with several independent vendors barging in.
  • The industry will witness large M&A transactions at the end of 2020 (Q4) or early 2021 as margin pressure builds up, and sustenance for smaller vendors is expected to be challenging.
  • The vendors with exposure to only a single application or product are prone to face challenges concerning maintaining a steady stream of orders flowing in. Also, the manufacturing capabilities of vendors vary across the spectrum.

The global CNC milling machines market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

By Product Type

  • Vertical CNC Milling Machines
  • Horizontal CNC Milling Machines
  • Universal CNC Milling Machines

By Axis Type

  • 3 Axis
  • 4 Axis
  • Others

By End User

  • Automobile
  • Electrical & Electronics
  • Aerospace & Defense
  • Others

By Geography

  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The CNC Milling Machines market is expected to reach USD 21.55 Billion by 2026, growing at a CAGR of 8.72%.
The following factors are enabling the CNC Milling Machines market growth: the rise of Industry 4.0, the increase in investment in machine tools, industrial and economic growth in APAC, and growth in the automotive sector.
APAC region has the highest share in the CNC milling machines market.
The emphasis on industry 4.0 in recent years has increased the demand for CNC milling machines. However, the pandemic has negatively affected many small manufacturing businesses, thus negatively impacting the need for the CNC milling machines market.
In terms of end-users, the electrical and electronics industry is expected to witness the highest CAGR of over 8.9%. In comparison, the universal CNC milling machines is expected to witness the highest CAGR of over 9.5% in terms of product.
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