Report : Mexico CNC Machine Market Size and Forecast (2021 - 2031), Country Share, Trend, and Growth Opportunity Analysis Report Coverage: By Machine Type (Lathe Machines, Milling Machines, Laser Machines, Grinding Machines, Boring Machines, and Others), Technology (Horizontal and Vertical), Horizontal (3-Axis, 4-Axis, and 5-Axis), Vertical (3-Axis, 4-Axis, and 5-Axis), Industry (Aerospace and Defense, Automotive, Industrial, Metal and Mining, Power and Energy, and Others), and Country
Significant Investments by OEMs in Automotive Sector Bolsters Mexico CNC Machine Market Growth
According to our latest study on "Mexico CNC Machine Market Analysis to 2031 – Country Analysis – by Machine Type, Technology, and Industry," the market was valued at US$ 876.50 million in 2023 and is projected to reach US$ 1,488.06 million by 2031; it is anticipated to record a CAGR of 6.8% from 2023 to 2031. The report covers the Mexico CNC machine market trends and their foreseeable impact during the forecast period.
Automotive production accounted for 3.5% of Mexico's overall GDP and 20% of the manufacturing sector's GDP. Car manufacturers in Mexico include Ford Motor Co (F), General Motors Co (GM), Mercedes Benz, Honda Motor LTD (HMC), Toyota Motor Corp (TM), and Volkswagen Group. Mexico is the largest exporter of automobiles and auto components. Mexico's international sales of motor cars and other vehicles were valued at US$ 58.5 billion in 2023.
Mexico Auto Parts for OEM and Aftermarket | 2019 | 2020 | 2021 | 2022 | 2023 |
Total Local Production (US$ Billion) | 97.8 | 78.4 | 94.7 | 107.6 | 116 |
Total Market Size (US$ Billion) | 77.6 | 57.8 | 69.6 | 79.1 | 86.6 |
Source: International Trade Administration, 2022
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 León, Coahuila, and San Luis Potosí. 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 León, Puebla, Queretaro, San Luis Potosi, Tamaulipas, and Estado de Mexico. According to the Mexican Automotive Industry Association (AMIA), Mexico's automotive industry production reached ~4.1 million, which is an increase of 10.8% compared to 2022. The rising automotive production and the growing automotive sector investments have created a high demand for CNC machines, contributing to the growing Mexico CNC machine market size.
Based on machine type, the Mexico CNC machine market is segmented into lathe machines, milling machines, laser machines, grinding machines, boring machines, and others. Among these, the lathe machines segment accounted for 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.
Based on technology, the market is segmented into horizontal and vertical. Among these, the horizontal segment held a significant share in 2023. Also, based on industry, the market is segmented into aerospace and defense, automotive, industrial, metals and mining, energy and power, and others. Among these, the automotive segment accounted for a significant Mexico CNC machine market share in 2023 due to the increasing investment in these sectors.
In Mexico, lathe machines are used for a wide range of applications, including automotive, metal, and sheet fabrication. Lathe machines are of two types: horizontal and vertical. A lathe can be used for shaping metals, alloys, plastics, or even different types of wood. Parts of CNC lathe machines include conical shafts, discs, gaskets, gears, rods, and shafts. CNC lathe machines are among the most critical devices used across industries. Mexico received foreign direct investment of US$ 31.6 billion in 2021, 40% of that in the manufacturing sector. Mexico's metal-mechanics industry involves metal-working machinery and all types of metal transformation processes, such as finishing and metal forming.
Mexico CNC Machine Market Share — by Country, 2023
Source: Business Market Insights Analysis
The key stakeholders in the Mexico CNC machine market include raw materials suppliers, CNC machine manufacturers, software system integrators, distributors, and end users.
In recent years, the demand for CNC machines has increased rapidly due to the rising adoption of automotive component manufacturing in Mexico. CNC machine manufacturers play a crucial role in the market ecosystem as they are in constant synchronization with end-user demands. CNC machine solutions can also be customized to meet specific requirements and operational needs of different types of end-use industries.
A milling machine is an industrial machine tool used to remove a part of the material from a stationary workpiece with the help of rotary cutting tools. A milling machine removes material from a workpiece by rotating the cutter and moving it into the workpiece. Milling machines are of two types: vertical and horizontal. These are usually used to machine flat and irregularly shaped surfaces that are drilled and bored. These machines are widely used in various industries, such as automotive, aerospace, and electronics. The increase in investments in these industries has created a massive demand for milling machines in Mexico. According to the Mexican Aerospace Industry Federation (FEMIA), Mexico's aerospace sector had more than 368 manufacturing firms during mid-2022. Also, the aerospace sector's foreign direct investment accounted for US$ 5.5 billion in 2021 and is growing rapidly with the increasing government spending to improve the aerospace and defense sector. The rising aerospace sector has created a massive demand for milling machines, which, in turn, drives the Mexico CNC machine market growth.
The Mexico CNC machine market report includes an analysis carried out by identifying and evaluating key players in the market. The key CNC machine manufacturers include 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; and Hyundai Wia Machine Tool.
The end users of the Mexico CNC machine market include automotive, aerospace and defense, industrial, metals and mining, and energy and power. CNC machines are being widely used in automotive applications. Thus, the automotive segment is expected to be the largest revenue contributor to the CNC machine market during the forecast period.
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; and Hyundai Wia Machine Tool are among the key players profiled in the Mexico CNC machine market report. Companies in the Mexico CNC machine market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.
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