Global Computer Numerical Control Cnc Machinery Market Size 2024, Forecast To 2033

The computer numerical control (CNC) machinery market size has experienced steady growth, rising from $86.7 billion in 2023 to $88.47 billion in 2024 at a compound annual growth rate (CAGR) of 2.0%. The growth in the historic period is attributed to increased demand in aerospace and automotive industries, globalization of manufacturing, shorter product development cycles, cost efficiency and labor savings, and customization and complexity in product designs. Projections suggest robust growth, with the market expected to expand to $118.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. This growth is driven by growing adoption of 5-axis and multi-tasking machines, sustainable and eco-friendly manufacturing practices, rise in additive manufacturing, increased demand in medical device manufacturing, and global reshoring initiatives. Major trends in the forecast period include digital twin technology, advancements in cutting-edge technologies, integration of industry 4.0 technologies, enhanced precision and accuracy, and human-machine collaboration.