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The CNC vertical machining centers market size is estimated to grow at a CAGR of 5.7% between 2023 and 2028. The market size is forecast to increase by USD 1.26 billion. The growth of the market depends on several factors, including the increasing demand for CNC-incorporated machine tools, the rising demand for metal fabricated products, and the development of advanced manufacturing processes in the industrial machinery sector.
The report offers extensive research analysis on the CNC Vertical Machining Centers Market, with a categorization based on Product, including less than 5-axis and 5-axis or more. It further segments the market by End-user, encompassing automotive, aerospace, metal fabrication, and others. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
CNC Vertical Machining Centers Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
CNC vertical machining centers have been undergoing a significant technological disruption due to the integration of several modern technologies, including Non-Uniform Rational Basis Spline (NURBS). In addition, the CNC machines that are based on NURBS are capable of rendering a variety of shapes, ranging from a simple 2D line, circle, arc, or curve to complex 3D organic free-form surfaces and solids.
Moreover, the integration of advanced controlling solutions in CNC machines helps achieve great accuracy in a machining process through enhanced jerk control. In addition, NURBS helps the die and mold industry improve product accuracy by offering over a 1,000-times improvement in control operations conducted over cutting and other operations in each axis. Hence, such factors are driving the market growth during the forecast period.
There has been a significant revolution in five-axis CNC vertical machining centers in the metal processing industry by increasing efficiency, reducing cycle time, and reducing the wastage of material. However, the increasing demand from major end-users including automotive, aerospace, and metal fabrication has prompted the manufacturers of CNC vertical machining centers to undertake innovations and incorporate advanced technology.
Moreover, the advent of the six-axis CNC vertical machining centers has redefined machining operations. In addition, the capability of the machine to turn both ends of fixtures enables the processing of the raw material into a finished product without the use of multiple fixtures and other machining activities. Hence, such factors are positively impacting the computer numerical control (CNC) vertical machining centers market. Therefore, it is expected to drive the market growth during the forecast period.
Many manufacturing industries in mature markets, including the US and Europe, have shut down their operations due to high labor costs and stringent industrial emission norms being implemented. As a result, there is an increased availability of refurbished machine centers in the market which is hampering the procurement of new CNC vertical machining centers.
Moreover, as refurbished equipment is readily available at a lower price, the industries that are located in developing APAC countries, such as China, India, and Singapore, are utilizing this equipment, exported from the US and Europe, to establish a cost advantage. In addition, CNC vertical machining centers can be easily substituted by CNC horizontal machining centers. Hence, such factors are hindering the market growth during the forecast period.
The less than 5-axis segment is estimated to witness significant growth during the forecast period. This segment comprises 2.5-axis, 3-axis, and 4-axis CNC vertical machining centers. In addition, in 2.5-axis CNC vertical machining centers, there are three axes, but only two axes can rotate simultaneously. Furthermore, in 3-axis CNC vertical machining centers, the cutting tool moves around three axes (X, Y, and Z). In 4-axis CNC vertical machining centers, the cutting tool moves around the same three axes with a rotating X-axis.
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The less than 5-axis segment was the largest segment and was valued at USD 1.73 billion in 2018. Moreover, among these variants, 2.5-axis CNC vertical machining centers are mostly outdated in the market, while 4-axis CNC vertical machining centers have become more common in recent times. In addition, 5-axis CNC vertical machining centers dominate the market segment due to their large-scale abilities to serve a wide range of industrial applications at an affordable price. Furthermore, for milling and boring applications that involve simple metal designs such as gear cutting, 3-axis, and 4-axis CNC vertical machining centers are mostly used as these machines are economical when compared with 5-axis CNC vertical machining centers. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Based on the end-user, the segment is classified into automotive, aerospace, metal fabrication, and others. The automotive will account for the largest share of this segment. The global automotive industry is undergoing a significant revolution in terms of regulatory framework, technological advances, and customer requirements. In addition, customer preferences in terms of vehicle sophistication with more efficient engines are driving the adoption of new technologies in the industry. Moreover, automotive OEMs have started launching differentiated vehicle categories, such as micro-sport utility vehicles (SUVs) and mid-sized pickup trucks, to attract various segments of vehicle buyers. Furthermore, CNC machining is widely used in automotive applications for manufacturing complex interior and exterior parts, such as valves, pistons, throttles, headlight housings, transmission cases, aluminum wheels, and cylinders of engines. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 39% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The APAC region is a major hub for manufacturing activities for a majority of industries, such as key end-users of CNC vertical machining centers. In addition, the increasing population in the region has fueled the demand for several consumables and other commodities, which has encouraged manufacturers to increase their production capacities through the extension of existing manufacturing facilities or the construction of new ones with state-of-the-art machinery. As a result, this reduces operating costs and renders the processes more efficient. Therefore, such factors are positively impacting the computer numerical control (CNC) vertical machining centers market growth in the region. Moreover, the high demand for CNC vertical machining centers in APAC is attributed to growth in the automotive and industrial sectors in the region. Hence, such factors are driving the market growth in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Chiron Group SE: The company offers CNC vertical machining centers such as micro5, 8series, and 12 series.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Bharat Fritz Werner Ltd:DMG MORI Co. Ltd., DN Solutions Co. Ltd., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., Jyoti CNC Automation Ltd., Komatsu Ltd., Makino Milling Machine Co. Ltd., Maschinenfabrik Berthold Hermle AG, Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp., SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., and Yamazaki Mazak Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The CNC vertical machining centers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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CNC Vertical Machining Centers Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
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Market Growth 2024-2028 |
USD 1.26 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.09 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 39% |
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Key countries |
US, China, Japan, Germany, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bharat Fritz Werner Ltd., Chiron Group SE, DMG MORI Co. Ltd., DN Solutions Co. Ltd., Gebr. Heller Maschinenfabrik GmbH, GF Machining Solutions AG, Haas Automation Inc., Hurco Companies Inc., Jyoti CNC Automation Ltd., Komatsu Ltd., Makino Milling Machine Co. Ltd., Maschinenfabrik Berthold Hermle AG, Maxmill Machinery Co. Ltd., Micromatic Machine Tools Pvt. Ltd., Mitsubishi Electric Corp., Okuma Corp., SCM GROUP Spa, Shandong Luzhong Machine Tool Co. Ltd., Shenyang Yiji Machine Tool Sales Co. Ltd., and Yamazaki Mazak Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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