CNC Controller Market Analysis
The global CNC controller market will touch USD 3.8 billion at a 6% CAGR by 2023, states the latest Market Research Future report.
Drivers
Growing Trend of Industry 4.0 to Boost Market Growth
The growing trend to adopt industry 4.0, IoT, and cloud computing for efficient manufacturing processes in different industries like consumer electronics, aerospace, automotive, and others will boost market growth over the forecast period.
Opportunities
Integration of 3D Printing Technology to offer Robust Opportunities
The integration of 3D printing technology with CNC machines will offer robust opportunities for the market over the forecast period.
Restraints
High Capital needs to act as Market Restraint
The high capital needs to install and maintain CNC machines may act as a market restraint over the forecast period.
Challenges
Shortage of Skilled Manpower to act as Market Challenge
The shortage of skilled manpower for operating complex CNC machines may act as a market challenge over the forecast period.
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Market Segmentation
The global CNC controller market is bifurcated based on product, component, axis type, application, and end-user.
By product, motion control chip-based will lead the market over the forecast period.
By component, the global CNC controller market is segmented into Power Supply Unit, Software, Cabling, Circuitry Protection System, Motor Driver and others.
By axis type, 5 axis will dominate the market over the forecast period.
By application, the global CNC controller market is segmented into Closed-Loop Control CNC Machine Tool, Open-Loop Control CNC Machine Tool and Semi-Closed Loop Control CNC Machine Tool.
By end-user, automobile will spearhead the market over the forecast period.
COVID-19 Analysis
COVID 19 has caused widespread disruption in the industrial sector, disrupting supply lines and disrupting various industrial processes. Several businesses have streamlined their production processes. Due to movement restrictions and social distance conventions, the labour force was also diminished. Such considerations have influenced the need for CNC controllers. Slowly, after recovering from COVID, industries are investing more to get back on track, using CNC equipment and technology to improve manufacturing productivity and quality while lowering operating costs. As a result, COVID-19 has no impact on the expansion of the CNC controller industry.
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Regional Analysis
APAC to Lead CNC Controller Market
The APAC region will lead the CNC controller market over the forecast period. The Asia-Pacific area is spending more in manufacturing and business processes and has a large number of manufacturing firms. Furthermore, developments in the manufacturing and automotive industries across the area are boosting the CNC controller industry’s overall growth. Furthermore, the favourable economic conditions of nations like as Japan, China, India, & other Asia-Pacific regions encourage infrastructure development and rely on the growth of the CNC controller sector. In 2020, APAC held the highest share of the market. The rising manufacturing industry in the region is driving the market’s growth. Continuous technological advancements in different industries, strong economic development in key economies like Japan, China, and India, rising infrastructural developments in different Southeast Asian countries like Thailand, Singapore, and Malaysia, amid others & increasing foreign investments in the region are all expected to drive market growth. Due to increased expenditures in technological breakthroughs, China’s large electronics industry, high demand from the automotive and military industries, and Japan’s adoption of industrial automation, this region dominates the market.
Key Players
Eminent players profiled in the global CNC controller market report include Siemens AG (Germany), Mitsubishi Electric Corporation (Japan), Bosch Rexroth AG (Germany), DMG Mori Co Ltd (Japan), Hurco Companies Inc (US), Fagor Automation Corporation (US), Haas Automation, Inc. (US), Wuhan Huazhong Numerical Control Co., Ltd. (China), Yamazaki Mazak Corporation (Japan), FANUC Corporation (Japan), and Okuma Corporation (Japan).
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CNC Controller Market Report: Information by Product (Microcontroller-Based, DSP-Based, Motion Control Chip-Based and others), by Component (Power Supply Unit, Software, Cabling, Circuitry Protection System, Motor Driver and others), by Axis Type (2 Axis, 3 Axis, 4 Axis, 5 Axis and Multi-Axis), by Application (Closed-Loop Control CNC Machine Tool, Open-Loop Control CNC Machine Tool and Semi-Closed Loop Control CNC Machine Tool), by End-User (Healthcare, Automobile, Aerospace, Defense, Electronics, Metal and Mining) — Forecast till 2027
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