The pandemic has compelled several companies operating in the machine tool market to temporarily halt manufacturing operations to comply with new government regulations. As such, even with the imminent slowdown of the market growth, it is expected to recover fully in a short term. However, the existing Computer Numerical Control (CNC) Machines across the globe are being used to manufacture components for medical products, such as masks, respirators, & filters, and critical infrastructure during the pandemic. The COVID-19 pandemic has negatively affected the market in terms of new sales and installations. The global computer numerical control machines market size was valued at USD 71.46 billion in 2020 and is expected to exhibit a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028.
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