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“CNC Controller market expected to exhibit significant growth between 2017 and 2023”
The CNC controller market is projected to grow at a CAGR of 3.8% between 2017 and 2023, to reach USD 3.70 billion by 2023. Key driving factors for the growth of the market are increase in the adoption of industrial automation in the manufacturing sector, ability to reduce operating cost, and rising demand for mass production across end-user industries. However, factors such as requirement of high investment cost for the implementation of CNC machines are restraining the growth of this market.
“CNC machining center expected to hold major share of controller market during forecast period”
CNC machining center is expected to hold a major share of the controller market by 2023. This is attributed to the growing focus of manufacturers to invest in technologies to develop innovative, energy-efficient, and advanced solutions for end users. These machines are used for a variety of machining operations owing to their ability to offer a high level of accuracy and ability to perform continuous production work. Thus, the adoption of controllers is high in CNC machining centers owing to the high demand for the machining centers for complex machining operations.
“Controller market for 5-axis CNC machine expected to grow at highest CAGR between 2017 and 2023”
The controller market for 5-axis CNC machine is projected to grow at the highest CAGR between 2017 and 2023. These machines are specifically designed for manufacturing complex machine parts in critical industries such as aerospace and defense. They are expensive; however, they offer benefits such as reduced machine setup time, enhanced accuracy, and better surface finishing, which is expected to encourage their adoption during the forecast period. CNC controllers control the movement of 5-axis CNC machines in 5 different directions simultaneously. Thus, the demand for CNC controllers is expected to grow significantly in 5-axis CNC machines during the forecast period.
“Automotive industry to account for largest share of the CNC controller market during forecast period”
The automotive industry is expected to hold the largest share of the market during the forecast period. Advancements in automotive manufacturing technologies and increasing investments by key automotive manufacturers are some of the factors expected to drive the market for the automotive industry. Further, intense competition in the automotive industry has led to increase in the development of innovative and advanced manufacturing technologies for automobiles. Hence, there is a high demand for the controllers across the globe as they help enhance the efficiency of production and manufacturing facilities in the automotive industry.
“Market for CNC controllers in Europe expected to grow at highest CAGR during forecast period”
The market for the controllers in Europe is projected to grow at the highest CAGR between 2017 and 2022. The growth of the market is primarily driven by the increase in demand for automobiles, medical devices, and machinery manufacturing equipment. Further, advancements in controller capabilities, ability to control multiple axes, and the development of advanced controllers are some of the factors contributing to the growth of the market in Europe.
The breakdown of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
- By Designation: C-Level Executives = 70%, Directors = 20%, and Others = 10%
- By Region: North America = 40%, Europe = 35%, APAC = 15%, and RoW = 10%
FANUC Corporation (Japan), Mitsubishi Electric Corporation (Japan), and Siemens AG (Germany) are the leading players in the CNC controller market. Furthermore, key players in the CNC machine market are Bosch Rexroth AG (Germany), DMG MORI CO., LTD. (Japan), Fagor Automation (US), FANUC Corporation (Japan), Haas Automation, Inc. (US), Hurco Companies, Inc. (US), Mitsubishi Electric Corporation (Japan), Okuma Corporation (Japan), Siemens AG (Germany), Wuhan Huazhong Numerical Control Co., Ltd. (China), and Yamazaki Mazak Corporation (Japan).
The research report analyzes the CNC market on the basis of the following segments: hardware, machine type, axis type, industry, and geography. The market has been segmented on the basis of hardware into CNC machines and CNC controllers. A major emphasis has been given to CNC controllers as they are an important part of the machine. The market for CNC controllers has been segmented on the basis of machine type into CNC machining center and CNC turning center. Further, the market for CNC controllers has been segmented on the basis of axis type into 2-axis, 3-axis, 4-axis, 5-axis, and multiaxis CNC machines. Industries covered in this report are aerospace and defense, automotive, metal manufacturing, medical devices, and semiconductor and electronics. The report also covers the market segmented on the basis of the following regions: North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on hardware, machine type, axis type, industry, and region have been provided to provide an overall view of the market.
- A detailed value chain analysis has been given to provide an in-depth insight into the market.
- Major drivers, restraints, opportunities, and challenges for the market have been detailed in this report.
- The report includes the detailed competitive landscape, along with key market players and their revenues.