Enjoying loan spells with Yeovil Town and Port Vale, he transferred permanently to Chesterfield in 2010, who he helped to win the League Two title in his first season.

Davies was a member of the youth team at Shrewsbury Town, and then Manchester City, before moving on to League Two club Oxford United in August 2004.

[4] Speaking in September 2005, manager Brian Talbot praised him for his "pace and aggression" after having previously been critical of the player for his perceived selfishness and choosing Lee Bradbury and Steve Basham ahead of him.

[5][6] He went on to score eight goals in 29 appearances for the first-team during the season and came close to signing for Premier League side Charlton Athletic in June 2005.

[15] The next month he moved on loan to Championship side Wolverhampton Wanderers, claiming he wanted out of Italy as he was too young to adapt to the change in culture.

[16] He was a regular choice throughout the first half of the 2006–07 season after impressing manager Mick McCarthy in substitute appearances on the wing and then as a lone striker.

[20] After Wolves opted not to make his loan a permanent move, Davies signed for League One side Oldham Athletic in June 2007 for an undisclosed fee.

[26] Three months later, Davies was loaned to Oldham's League One rivals Stockport County to regain form after a poor start to the season, failing to score in ten appearances.

[34] New manager Russell Slade steered the club away from relegation despite injuries to the front two of Nicky Forster and Glenn Murray; Davies failed to add to his goal tally in ten starts and six substitute appearances, though late loan arrival Lloyd Owusu managed to find the form to help fire Brighton to safety.

On 15 January 2010, Davies joined League Two side Port Vale on an initial one-month loan deal,[38][39][40] rejoining Micky Adams, the manager who had signed him for Brighton.

[43] He quickly earned the praise of teammate Marc Richards, who said: "Craig is big, tall and strong, which is everything a good striker would want, and he can score goals as well".

On 22 September, Davies scored four goals in the space of 19 second-half minutes in a 5–0 demolition of Birmingham City at St Andrew's, earning himself a place on the Championship Team of the Week.

In January 2013, Championship rivals Bolton Wanderers made a successful £300,000 transfer bid for Davies, and began negotiating personal terms.

[69] He made his debut for Bolton on 19 January, as a late substitute for Darren Pratley in a goalless draw with Crystal Palace at Selhurst Park.

[74] He was reported to be joining Wolves on loan in November, with manager Kenny Jackett having previously bid £400,000 for the striker in the summer.

[75] On 31 January 2014, Davies joined Preston North End on loan for the rest of the season, where he scored five goals in fifteen appearances.

[85] In July 2015, Davies signed a two-year contract with newly relegated League One side Wigan Athletic after securing his release from Bolton; "Latics" manager Gary Caldwell said that he was "a powerful striker who has a proven track record in this division".

[87] On 7 January 2017, Davies joined League One club Scunthorpe United on a contract until the end of the 2016–17 season, with Graham Alexander's side third in the table.

[91] In June 2017, Davies rejoined Oldham Athletic – again in League One – on a two-year deal as manager John Sheridan's second summer signing.

[93] He was linked with a move to Coventry City in the January transfer window, but new manager Richie Wellens stated that it would be "suicidal" of the club to accept any offer.

[95] On 29 June 2018, Davies signed a two-year contract with League Two club Mansfield Town after the "Stags" paid Oldham an undisclosed fee.

[100] Davies holds a record for the Wales under-21 team by being one of only four people to have scored a hat trick at that level alongside John Hartson, Lee Jones and Ched Evans.

He was capped seven times by Wales, qualifying through a grandparent, having made his international debut as a substitute in a goalless draw with Slovenia on 17 August 2005.