$3550
$2840
The Mexico CNC machine market size is expected to reach US$ 1,488.06 million by 2031 from US$ 876.50 million in 2023. The market is estimated to record a CAGR of 6.8% from 2023 to 2031. The rising adoption of Industry 4.0 is likely to bring new trends to the market in the coming years.
Mexico CNC Machine Market Analysis
CNC machines are automated machines that play a major role in the manufacturing sector. These machines are used for complex cutting and manufacturing of a wide range of items by eliminating the risk of human errors. CNC machines use software programming languages such as G-code to produce the parts. These machines are used to manufacture automotive and aerospace parts. There is an increase in investments across the aerospace sector in Mexico, which is driving the CNC machine market growth. According to the International Trade Administration, the aviation and aerospace sector in Mexico received significant investment of more than US$ 11.8 billion annually as of 2024. Further, automotive sector export in Mexico was valued at ~US$ 189 billion in 2023, which increased by 14.3% compared to 2022. The automotive industry has become the major driver for the growth of the CNC machine market.
Mexico CNC Machine Market Overview
The manufacturing sector in Mexico is developing, with a major focus on advanced technologies such as industrial automation, robotics, the Internet of Things, artificial intelligence (AI), 3D printing, additive manufacturing, automation, wireless technologies, and autonomous vehicles. The rise of Industry 4.0 in Mexico, with the rising adoption of smart factories and industrial automation, is expected to be a key trend in the CNC machine market. The integration of automation and robotics in CNC machine manufacturing is increasing rapidly growing. CNC machine manufacturers are developing artificial intelligence and sensors-based machines to meet the growing industry 4.0 demand. For instance, in May 2024, ANCA CNC Machines integrated autonomous manufacturing and artificial intelligence into their machines. ANCA's Integrated Manufacturing System offers an ecosystem to automate the production of cutting tools using CNC machines.
In September 2023, Okuma America Corporation launched a next-generation CNC machine with advanced technology integration. The new advanced control Okuma OSP-P500 CNC machine is the latest technology-based machine that fully optimizes modern manufacturing operations.
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Mexico CNC Machine Market: Strategic Insights
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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.
Mexico CNC Machine Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Mexico CNC Machine Market Drivers and Opportunities
Rapid Industrialization and Rise in Foreign Direct Investments in Mexico
Mexico is the 15th largest economy globally and the largest exporter in Latin America. In 2022, Mexico's gross domestic product (GDP) was valued at US$ 1.41 trillion. According to the World Bank Report in 2022, the industrial and services sector in Mexico accounted for 32.1% of the country's GDP. The industrial sector in Mexico, including mining, manufacturing, and oil & gas, has contributed between 25% and 35% of the overall GDP. The Mexico CNC machine market is driven by increasing industrial activities and rising foreign trade. In 2023, Mexico's Ministry of Economy reported an increase in foreign direct investments (FDIs) by 27%, reaching US$ 36 billion; 50% of this investment is in the manufacturing sector in Mexico.
From January 2024 to June 2024, FDIs in Mexico reached US$ 31.1 billion across several industrial sectors. Mexico's overall manufacturing output for 2023 was valued at US$ 360.73 billion, which increased by 14.73% compared to 2022. The increase in FDIs and the growth of the industrial sector in Mexico drive the Mexico CNC machine market.
Increasing Adoption of CNC Machines in Energy and Power Sector
CNC machines are widely used to manufacture various industrial components in the energy and power sector. In the energy and power sector, CNC machines are widely used to produce various components, such as seals, gears, pumps, and valves. These components are used in various energy and power-related applications, such as hydroelectric dams, wind turbines, and oil and gas drilling rigs. In 2022, the National Power System in Mexico's power generation was 340,713 GWh, ~31.2% of the clean energy sources. In August 2024, the Federal Electricity Commission in Mexico and the government invested ~US$ 19.31 billion in energy generation-related projects. This investment funded the development of nearly 35 generation projects and 41 distribution projects. In 2023, five energy-related transmission projects were completed, with a total investment of US$ 16.04 million. The rising investment in energy and power-related projects across the country is expected to create significant opportunities for the CNC machine market growth during the forecast period.
Mexico CNC Machine Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Mexico CNC machine market analysis are machine type, technology, and industry.
- By machine type, the market is segmented into lathe machines, milling machines, laser machines, grinding machines, boring machines, and others. The lathe machines segment dominated the market in 2023.
- Based on technology, the market is segmented into horizontal and vertical. The horizontal segment dominated the market in 2023.
- Based on industry, the market is segmented into aerospace and defense, automotive, industrial, metals and mining, energy and power, and others. The automotive segment dominated the market in 2023.
Mexico CNC Machine Market Share Analysis by Geography
Based on machine type, the CNC machine market is segmented into lathe machines, milling machines, laser machines, grinding machines, boring machines, and others. Among these, the lathe machines segment held a significant market share in 2023, owing to the increasing demand from the automotive industry for producing and shaping automotive components such as automotive gears, pistons, cylinders, bolts, and automotive tow bars and rods. These components require frequent maintenance and repair, which utilizes CNC machines to shape and machine the automotive components. According to the International Trade Administration, Mexico is the seventh-largest manufacturer of passenger cars, producing more than 3.5 million vehicles annually. The rapidly growing automotive industry in Mexico has created a massive demand for CNC machines, such as lathe machines, to manufacture automotive components in the country.
Mexico CNC Machine Market Report Scope
Mexico CNC Machine Market News and Recent Developments
The Mexico CNC machine market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the Mexico CNC machine market are listed below:
- Nakamura-Tome Precision Industry Co., Ltd. (CEO Shogo NAKAMURA) introduced the renewed AS-200 and AS-200L series, versatile multitasking lathes that have evolved to meet the demands of modern manufacturing. Launched originally in 2013, the AS Series quickly became their best-selling machine.
(Source: Nakamura-Tome Precision Industry Co., Ltd, Press Release, September 2024)
Mexico CNC Machine Market Report Coverage and Deliverables
The "Mexico CNC Machine Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Mexico CNC machine market size and forecast at country levels for all the key market segments covered under the scope
- Mexico CNC machine market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Mexico CNC machine market analysis covering key market trends, country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Mexico CNC machine market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Mexico is the seventh-largest passenger vehicle manufacturer, producing more than 3.5 million vehicles annually. Automotive manufacturers are located in the northern region of Sonora, Baja California, Chihuahua, Nuevo LeĂłn, Coahuila, and San Luis PotosĂ. Original equipment manufacturer (OEM) plants for automotive are in Aguascalientes, Guanajuato, Estado de Mexico, Jalisco, Morelos, Hidalgo, and Puebla. In terms of supply chains, automotive parts producers are located primarily in Chihuahua, Coahuila, Guanajuato, Nuevo LeĂłn, Puebla, Queretaro, San Luis Potosi, Tamaulipas, and Estado de Mexico.
CITIZEN MACHINERY CO., LTD;Nakamura-Tome CO., LTD.; Omnitec; Haas Automation, Inc.; Technocrafts; DN SOLUTIONS;Jinan Takara Cnc Machine Co., Ltd.; JINN FA MACHINE; Tengzhou Borui Cnc Machine Tool Co., Ltd.; Zaozhuang Shenhuan Cnc Machine Co., Ltd.; OKUMA CORPORATION; Hision; DMG MORI; Yamazaki Mazak Corporation; Hyunndai Wia Machine Tool are the key market players operating in the Mexico CNC Machine market.
CNC machines are widely used to manufacture various industrial components in the energy and power sector. In the energy and power sector, CNC machines are widely used to produce various components, such as seals, gears, pumps, and valves. These components are used in various energy and power-related applications, such as hydroelectric dams, wind turbines, and oil and gas drilling rigs.
The List of Companies - Mexico CNC Machine Market
- CITIZEN MACHINERY CO., LTD.
- Nakamura-Tome CO., LTD.
- Omnitec
- Haas Automation, Inc.
- Technocrafts
- DN SOLUTIONS
- Jinan Takara Cnc Machine Co., Ltd.
- JINN FA MACHINE
- Tengzhou Borui Cnc Machine Tool Co., Ltd.
- Zaozhuang Shenhuan Cnc Machine Co., Ltd.
- OKUMA CORPORATION
- Hision
- DMG MORI
- Yamazaki Mazak Corporation
- Hyunndai Wia Machine Tool
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
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