CNC Controller Market by Hardware (CNC Machine and CNC Controller), Machine Type (CNC Machining Center and CNC Turning Center), Axis Type (2-Axis, 3-Axis, 4-Axis, 5-Axis, and Multiaxis), Industry, and Geography - Global Forecast to 2023
Northrook, IL -- (SBWIRE) -- 11/25/2019 -- The global CNC controller market size was valued at USD 2.9 billion in 2016 and is expected to reach the level of USD 3.7 billion by 2017 with a CAGR of 3.8%. An increase in the adoption of industrial automation in the manufacturing sector, the ability to reduce operating costs, and rising demand for mass production across end-user industries are the key factors driving the growth of the CNC controller market.
Growing industrial automation adoption in the manufacturing sector and increasing demand for mass production across end-user industries are key drivers of this market's growth. Major entry and growth barrier for CNC market is a requirement of high investment cost for the implementation of CNC machines.
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The largest share goes to CNC Machining Center
CNC machining center accounted for the largest share of the global controller market in 2017. They are used for a wide range of applications. Machining processes such as drilling, milling, boring, and tapping, and which were done traditionally on conventional machine tools, can be done more efficiently with the help of CNC machining centers. Further, it helps in continuous production work, owing to which they hold a significant share of the global CNC controller market.
3-axis CNC machines are anticipated to account for the majority of the global CNC controller market share. Implementing these devices in the manufacture of parts increases the manufacturing process's speed and accuracy. However, the demand for controllers in 5-axis CNC machines is expected to witness higher growth between 2017 and 2023. Controllers are used in 5-axis CNC machines in important industries such as aerospace and defense to assemble complicated machine parts. They make it more effective to produce vital aircraft parts.
The Automotive Industry – The Largest User of CNC Controllers
During the forecast period, the automotive industry is expected to account for the largest share of the overall controller market. CNC controllers play a key role in high-quality vehicle part development and production. Vehicle manufacturers welcome advances in assembly-line approaches to improve quality and increase plant efficiency.
Increasing the need for safety and reliability in the aerospace and defense industry has also prompted manufacturers to use sophisticated CNC controllers in multi-axis moving devices. This is expected to drive the growth of the CNC controller market in the aerospace and defense industry.
APAC with growing manufacturing sector holds the largest share
APAC held the largest share of the global CNC controller market, and the market growth is attributed to the growing manufacturing industry in the region. Besides, continuous advances and technological innovations in different sectors, economic development in China, Japan, and India, growing infrastructure developments in other Southeast Asian countries, and increasing foreign investment in this region are driving market growth.
Besides, large-scale industrialization and urbanization are driving market growth in APAC. However, due to continuous technological advances in the country's manufacturing sector, the market in Europe is expected to grow at the highest CAGR during the forecast period.
Europe has always been a key market for advanced technology. This provides significant prospects for the CNC controller market as this field has shown a positive approach to the implementation of advanced manufacturing innovations such as CNC machines and CNC controllers.
Bosch Rexroth AG (Germany), Fagor Automation (US), DMG MORI CO., LTD. (Japan), FANUC Corporation (Japan), Hurco Companies, Inc. (US), Haas Automation, Inc. (US), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Okuma Corporation (Japan), Yamazaki Mazak Corporation (Japan), and Wuhan Huazhong Numerical Control Co., Ltd. (China), are the key market players. They focus on strategies such as product launches, expansions, acquisitions, contracts, agreements, and partnerships to enhance their geographic presence and expand their businesses in the global CNC controller market.
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