CNC Milling Machine Market Size, Report & Forecasts 2028

CNC Milling Machines Market Forecast to 2028 - Global Analysis By Structure (Gantry, Moving Table, Fixed Table, and Column Type), X-Axis Working Range (Less than 2,000 mm; 2,001 mm to 5,000 mm; 5,001 mm to 7,000 mm; and Above 7,000 mm), Number of Axis (3-Axis, 4-Axis, 5-Axis, and Others), and Application (Automotive & Transportation, Aerospace & Defense, Oil & Gas, and Others)

Publication Month : Apr 2023

  • Report Code : TIPRE00029861
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 246
Inquire Before Buy



[Research Report] The CNC milling machines market is expected to grow from US$ 8,616.03 million in 2023 to US$ 14,419.53 million by 2028; it is estimated to register a CAGR of 10.8% from 2023 to 2028.

Computerized numerical control (CNC) milling machines are the most important machines for subtractive manufacturing, removing materials from the workpiece to create a finished product. This differs from additive manufacturing processes such as 3D printing, casting, or injection molding, in which material is added to create a finished product. The process begins with a two- or three-dimensional computer-aided design (CAD) representation of the part to be produced. CAD guides the cutting process of the workpiece and precisely defines the measurements and requirements for the part. CNC milling can reshape various materials such as metal, glass, alloy, plastic, or wood. It is the most common CNC process and can be programmed to produce custom-designed parts to exact and accurate specifications. Presently, many market players offer a broad range of products with various specifications, sizes, and functionalities. CNC machining also helps the automotive industry develop functional prototypes, which can go into mass production after testing and validation. Thus, the growth of the automotive industry is primarily driving the CNC milling machines market growth.

CNC Milling Machines Market -

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

CNC Milling Machines Market: Strategic Insights

Market Size Value inUS$ 8,616.03 million in 2023
Market Size Value byUS$ 14,419.53 million by 2028
Growth rateCAGR of 10.8% from 2023 to 2028
Forecast Period2023-2028
Base Year2023
Analyst Image


Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Impact of COVID-19 Pandemic on CNC Milling Machines Market


According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic has severely affected several countries, such as India, Australia, China, and Japan. India is the worst-hit country by the pandemic in this region. Governments of these countries imposed limitations to control the spread of SARS-CoV-2 during the initial period of the outbreak. Also, limited workforce and social distancing norms reduced the manufacturing volume, thereby hampering the CNC milling machines market from both the demand and supply side. China imposed strict lockdown and social isolation norms during the COVID-19 outbreak, which stopped oil & gas exploration activities and reduced the demand for oil and other energy commodities across the country. It also hindered the manufacturing activities across the country. Similarly, India, another manufacturing country in the region, imposed a nationwide lockdown to control the growing number of COVID-19 cases. Thus, the overall decline of manufacturing industries hampered the demand for CNC milling machines across APAC during the first two quarters of 2020. However, as the economies in Q3 of 2020 reopened and industries began their operations, the requirement for CNC milling machines increased gradually from various end-use industries such as automotive, electronic & semiconductors, and oil & gas.

Lucrative Regions for CNC Milling Machines Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Market Insights – CNC Milling Machines Market

Smart manufacturing, over the years, has gained momentum across all manufacturing plants, including electronics, automobiles, and aircraft. smart manufacturing enables automation across production plants, thereby reducing operational time and cost. CNC milling machines are being increasingly integrated with smart manufacturing technology as it allows program-specific machining operations. This is enabling the manufacturers to enhance the precision and accuracy of operations by reducing human error. Further, the integration of smart manufacturing technology with CNC machining is also enabling the automation of repetitive functions. Thus, the integration of smart manufacturing technologies with CNC milling machines is expected to contribute to the CNC milling machines market growth over the forecast period.

Number of Axis-Based Insights

Based on number of axis, the CNC milling machines market size is segmented into 3-axis, 4-axis, 5-axis, and others. The 3-axis segment accounted for the largest market share in 2022. 3-axis CNC milling machines are the most common and low-priced machines. In these machines, the cutting tool operates along the XYZ plane to trim the material and is mostly suited for parts that do not require much detailing or depth. The workpiece generally remains fixed in a single position while the movement of the spindle is available in the x, y, and z-axes. 3-axis CNC milling machines can work on all six sides of a part but require a new fixturing setup for each side. Only one side of the workpiece can be machined for a single fixture setup. These machines are commonly utilized for drilling holes, milling slots, forming sharp edges, and other 2D and 2.5D geometry. Since these machines are used widely, finding operators with technical knowledge of these machines is easier. Additionally, 3-axis CNC milling machines are relatively affordable and easier to set up and operate. Despite the growing popularity of 5-axis machines, 3-axis machines are considered the workhorse by several verticals and are witnessing widespread adoption.

The global CNC milling machines market size is segmented on the basis of structure, X-axis working range, number of axis, and application. Based on structure, the CNC milling machines market is segmented into gantry, moving table, fixed table, and column type. Based on X-axis working range, the CNC milling machines market is categorized into less than 2,000 mm; 2,001 mm to 5,000 mm; 5,001 mm to 7,000 mm; and above 7,000 mm. Based on number of axis, the market is categorized into 3-axis, 4-axis, 5-axis, and others. Based on application, the CNC milling machines market is segmented into automotive & transportation, aerospace & defense, oil & gas, and others. By region, the CNC milling machines market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Okuma Corporation, Nidec, NICOLÁS CORREA S.A, AWEA MECHANTRONIC CO. LTD, and Emco are a few CNC milling machines market players operating across the world.

CNC milling machines market players are mainly focused on the development of advanced and efficient products.

  • In 2022, Zimmermann announced the launch of its new FZU 5-axis gantry milling machine, designed for prototype, tool, and mold making. The FZU is a compact and thermo-symmetrical machine that provides maximum productivity and accuracy, making it an ideal entry point to Zimmermann's machine line. The machine is suitable for machining plastics and casting resins such as Ureol and aluminum. The FZU's development will help Zimmermann close the gap in the lower weight class, according to Frieder Gänzle, General Manager and Partner at Zimmermann in Germany.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Structure, X-Axis Working Range, Number of Axis, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What are the driving factors impacting the CNC milling machine market?

• Surge in Automotive Production
• Increase in Production of Military Aircraft

What will be the global market size of CNC milling machine market by 2028?

The global market size of CNC milling machine market by 2028 will be around US$ 14,419.53 million

What is the incremental growth of the CNC milling machine market during the forecast period?

The CNC milling machine market is expected to register an incremental growth value of US$ 5,803.51 million during the forecast period.

Which is the leading CNC milling machine structure segment in the CNC milling machine market?

Gantry segment is expected to hold a major market share of CNC milling machine market in 2023.

What is the future trend in the CNC milling machine market?

Rise in New Product Development by CNC milling machines Market Players

Which are the key players holding the major market share of CNC milling machine market?

Okuma Corporation; Nidec Corporation; NICOLÁS CORREA, S.A; AWEA MECHANTRONIC CO., LTD; and EMCO GmbH;are the key market players expected to hold a major market share of CNC milling machine market in 2023

Which is the fastest growing regional market?

Asia Pacific is expected to register highest CAGR in the CNC milling machine market during the forecast period (2023-2028)

What is the estimated global market size for the CNC milling machine market in 2023?

The estimated global market size for the CNC milling machine market in 2023 is expected to be around US$ 8,616.03 million.

Which countries are registering a high growth rate during the forecast period?

China, India, and Italy are expected to register high growth rate during the forecast period.

Which country is holding the major market share of CNC milling machine market?

China is expected to hold a major market share of CNC milling machine market in 2023.

The List of Companies - CNC Milling Machine Market

  1. Okuma Corporation
  2. Nidec
  5. Fives Group
  6. EMCO GmbH
  7. TOS Varnsdorf a.s.
  8. JOBS SPA Società con Socio Unico
  9. Gruppo Parpas
  10. F Zimmermann
  11. Mighty USA, Inc.
  13. Johnsford
  14. Trimill
  15. KRC Machine Tool Solutions
  17. Ken Ichi Machine Co Ltd
  18. Amera-Seiki’s

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Related Reports