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
The Mexico CNC Machine Market size is projected to reach US$ 876.50 million by 2031 from US$ 1488.06 million in 2023. The market is expected to register a CAGR of 6.8% during 2023–2031. Rapid industrial growth and increased foreign direct investments in the country is one of the factors that is driving the demand of the CNC machines.
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, 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.
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.
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. CNC lathe machine operations like forming circular grooves can be achieved, with features like filets, grooves, notches, and slits also achievable when the surface stays spherical or cylindrical. 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.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness by Machine Type
2.3 Market Attractiveness by Technology
2.4 Market Attractiveness by Industry
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Mexico CNC Machine Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Mexico CNC Machine Market – Key Market Dynamics
5.1 Mexico CNC Machine Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Rapid Industrialization and Rise in Foreign Direct Investments in Mexico
5.2.2 Significant Investments by OEMs in Automotive Sector
5.3 Market Restraints
5.3.1 High Manufacturing and Maintenance Costs of CNC Machines
5.4 Market Opportunities
5.4.1 Increasing Adoption of CNC Machines in Energy and Power Sector
5.5 Future Trends
5.5.1 Rising Adoption of Industry 4.0
5.6 Impact of Drivers and Restraints:
6. Mexico CNC Machine Market Analysis
6.1 Mexico CNC Machine Market Revenue (US$ Million), 2021–2031
6.2 Mexico CNC Machine Market Forecast and Analysis
7. Mexico CNC Machine Market Analysis – by Machine Type
7.1 Lathe Machines
7.1.1 Overview
7.1.2 Lathe Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Milling Machines
7.2.1 Overview
7.2.2 Milling Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Laser Machines
7.3.1 Overview
7.3.2 Laser Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Grinding Machines
7.4.1 Overview
7.4.2 Grinding Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
7.5 Boring Machines
7.5.1 Overview
7.5.2 Boring Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
8. Mexico CNC Machine Market Analysis – by Technology
8.1 Horizontal
8.1.1 Overview
8.1.2 Horizontal: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
8.1.2.1 Mexico Horizontal CNC Machine Market by Axis
8.2 Vertical
8.2.1 Overview
8.2.2 Vertical: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
8.2.2.1 Mexico Vertical CNC Machine Market by Axis
9. Mexico CNC Machine Market Analysis – by Industry
9.1 Aerospace and Defense
9.1.1 Overview
9.1.2 Aerospace and Defense: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Automotive
9.2.1 Overview
9.2.2 Automotive: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Metal and Mining
9.4.1 Overview
9.4.2 Mexico's Mining Production and Mining Market Size, 2019–2023
9.4.3 Metal and Mining: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Power and Energy
9.5.1 Overview
9.5.2 Power and Energy: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
10. Competitive Landscape
10.1 Heat Map Analysis
10.2 Company Positioning and Concentration
10.3 Company Market Share Analysis
10.3.1 Company Market Share Analysis, 2023
10.3.2 Company Market Share Pie Chart Analysis, 2023
11. Industry Landscape
11.1 Overview
11.2 Product Development
12. Company Profiles
12.1 JINN FA MACHINE INDUSTRIAL CO., LTD.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 CITIZEN MACHINERY CO.,LTD.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Nakamura-Tome Precision Industry Co., Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Omnitec
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Haas Automation, Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 DN SOLUTIONS
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Jinan NewTop CNC Machine Co., Ltd.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Tengzhou Borui CNC Machine Co., Ltd.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Zaozhuang Shenhuan Cnc Machine Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Okuma Corp
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 HAITIAN INTERNATIONAL
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 DMG MORI COMPANY LIMITED
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Yamazaki Mazak Corporation
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 HyunndaiWia Machine Tool
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Technocraft
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. Mexico CNC Machine Market Segmentation
Table 2. List of Vendors
Table 3. Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million) – by Machine Type
Table 5. Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million) – by Technology
Table 6. Mexico Horizontal CNC Machine Market- Revenue and Forecast to 2031 (US$ Million)
Table 7. Mexico Vertical CNC Machine Market- Revenue and Forecast to 2031 (US$ Million)
Table 8. Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 9. Heat Map Analysis
List of Figures
Figure 1. Mexico CNC Machine Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Mexico CNC Machine Market Revenue (US$ Million), 2021–2031
Figure 5. Mexico CNC Machine Market Share (%) – by Machine Type, 2023 and 2031
Figure 6. Lathe Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Milling Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Laser Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Grinding Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Boring Machines: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Others: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Mexico CNC Machine Market Share (%) – by Technology, 2023 and 2031
Figure 13. Horizontal: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Vertical: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Mexico CNC Machine Market Share (%) – by Industry, 2023 and 2031
Figure 16. Aerospace and Defense: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Automotive: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Industrial: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Metal and Mining: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Power and Energy: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Others: Mexico CNC Machine Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Company Positioning and Concentration
- 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
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