Malaysia And Singapore CNC Machine Market Forecasts Report 2024-2029: Increase In Vehicle Production Is Anticipated To Propel Growth

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "Malaysia and Singapore CNC Machine market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Malaysian and Singapore CNC machine market is anticipated to grow at a compound annual growth rate (CAGR) of 6.27% over the forecast period, 2024-2029

One of the major drivers of the Malaysia and Singapore CNC machine market can be the increase in the industrial landscape in these nations. The CNC machine is used in various industrial applications, like in the electronics industry, these machines offer the processing capability of conductive and non-conductive metals. Similarly, in the aerospace industry, these machines are used to manufacture various airplane parts, like wings, frames, bulkheads, and landing gears.

The aerospace industry in Singapore is among the biggest contributors to the GDP in the nation. The Singapore Economic Development Board stated that in 2022, the aerospace industry's total output was observed at about US$9.5 billion (Singapore $13.1 billion), with an annual growth of about 6.1%. Similarly, the nation has a vast oil and gas industry, contributing about US$2.2 billion (Singapore $3.04 billion) in the same year.
MALAYSIA AND SINGAPORE CNC MACHINE MARKET DRIVERS:

The increase in vehicle production is anticipated to propel market growth.
The CNC machine is an important component in the automotive manufacturing industry globally. It is generally used by all major automotive producers worldwide, which offers multiple benefits to manufacturers. CNC machines are used in the production of vehicle chassis and various body parts and components. They can also be used to produce frames, brackets, mounting points, and body panels.
The increase in automotive production in Malaysia and Singapore is expected to boost the CNC machine market in these countries. Automotive vehicle production in Malaysia witnessed a significant increase in the recent few years and is expected to rise further in the future. The total number of vehicles produced in the nation was 481,651 in 2021, which increased to about 702,275 in 2022 and 774,600 in 2023, as stated by the International Organization of Motor Vehicle Manufacturers.
Additionally, the efforts by the government to promote industrial automation coupled with the advent of Industry 4.0 will expand the market opportunity of CNC machines in various end-user sectors, such as energy & power, automotive, electrical & electronics, and construction, among others. As per the updates from the Malaysian Investment Developmental Authority, the country currently hosts around 50 companies for providing advanced-level factory automation systems. In 2020, the Automation Project Initiative (API) was also launched by the Authority to support businesses in the adoption of smart manufacturing technologies in the long term.
Furthermore, the rising integration of AI into CNC machining is anticipated to expand several opportunities coupled with the rising digitalization trend and shift from traditional machine operations. Companies in the upcoming years are expected to embrace the integration of automation with AI as it results in several benefits to machine shops.

Some of these advantages include high order accuracy, increased inventory, and strict quality control, among others. In addition to this, the integration also provides a higher level of sophistication and enhanced designs with advanced software. For instance, the potential of AI will expand multi-fold in upcoming years with generative design software, such as Autodesk, which directly connects to AI-assisted CNC machining for subtractive manufacturing and better results.
MALAYSIA AND SINGAPORE CNC MACHINE MARKET RESTRAINTS:

The high installation and maintenance costs associated with CNC machines are expected to hamper market growth.
The inclusion of brand-new computer numerical control machines, including sensors, routers, and lathes, among other components, into the company's operations. It is considered quite expensive and is anticipated to restrict its application across various sectors in the coming years. The overall costs include installation, shipping, maintenance, and other transportation costs into it. Additionally, these machines also require periodic upgrades to their system to remain compatible with the manufacturing process for which they are applied. Therefore, these factors are expected to impact the adoption of CNC machines across Malaysia and Singapore, especially across the cost-sensitive regions of the countries.
MALAYSIA AND SINGAPORE CNC MACHINE MARKET SEGMENT ANALYSIS

The Industrial segment is anticipated to propel market growth.
The rising number of older adults in Malaysia and Singapore is anticipated to boost labor costs in different industries. Therefore, the adoption of automation will expand, thereby fueling market expansion for CNC machines until the forecast period. A broad variety of CNC machines, such as milling machines, plasma cutters, drilling machines, and lathe machines, are set up according to the specific needs of these industries' end products. These machines reduce wastage and decrease overall production costs, coupled with higher speed with minimal human involvement.
Malaysia and Singapore CNC Machine Key Market Developments:

In 2023, Makino Asia, a leading manufacturer of CNC machines, registered the completion of its 50 years of innovative products in Singapore. The company's presence in the country has resulted in a major boost to the proliferation of advanced manufacturing in Singapore. Makino strives to provide optimization in production efficiency and high-quality precision across different sectors.

Malaysia and Singapore CNC Machine Market Key Players:

• Mitutoyo, a leading player in Malaysia, provides a wide range of smart factory solutions for CNC coordinate measuring machines. The company's head office is located in Kaula Lumpur, and it has various regional offices across the country.
• Tsugami is one of the leading companies in CNC machine manufacturing. The company is determined to provide products with higher accuracy and precision at the most affordable price range. Various products under its broad portfolio include the CNC automatic lathe and CNC grinding, among others. It has various groups of companies, such as TSUGAMI Universal Pte. Ltd., that address the demand of the Singapore market.
• Makino is a global producer of CNC machines propelled by emerging technologies and provides vertical machining centers. It provides a complete set of solutions, such as machine tool sub-components and engineering services as well.
• Robo CNC Sdn. Bhd is an authorized company dealer that provides Haas CNC machines across Malaysia. It provides a one-stop solution for all manufacturing processes.

The Malaysian and Singapore CNC Machine market is segmented and analyzed as:

Companies Featured

• Haas Automation, Inc.( Robo CNC Sdn. Bhd)
• Mazak Singapore
• Mitsubishi Electric Corporation
• ARRK Corporation
• Makino
• Tsugami
• Mitutoyo
• Hwacheon

By Type

• Lathe Machine
• Milling Machine
• Laser Cutting Machine
• Plasma Cutting Machine
• Welding Machine
• Winding Machine
• Grinding Machine
• Others

By Axis

• 2-axis
• 2.5-axis
• 3-axis
• 4-axis
• 5-axis
• 6-axis

By Industry Vertical

• Aerospace and Defense
• Energy & Power
• Automotive
• Industrial
• Construction
• Electrical & Electronics
• Others

By Province

• Kuala Lumpur
• Johor Bahru
• Jurong East
• Others

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