According to the new market research report on the “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″, published by MarketsandMarketsTM,the objective of the report is to provide a detailed analysis of the market on the basis of hardware (machine and controller), machine type, axis type, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market. The report also provides a detailed overview of the value chain of the market.
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Further, the market for CNC machines is projected to be valued at USD 63.51 Billion by 2023, growing at a CAGR of 2.2% between 2017 and 2023. Factors driving the growth of the market include 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.
“Controller market for CNC machining center expected to grow at highest CAGR between 2017 and 2023”
They cover a wide range of operations—from small individual parts to large, heavy-duty gang milling operations. It is one of the most commonly used processes in the manufacturing industry and machine shops for machining the parts to accurate sizes and shapes. This is expected to drive the growth of the controller market for CNC machining center during the forecast period.
Browse and in-depth TOC on “CNC Controller Market ”
32 – Data Tables
57 – Figures
153 – Pages
“3-axis CNC machines projected to account for largest share of the CNC controller market during forecast period”
They offer high speed and accuracy. Also, it caters wide range of applications, such as metal engraving, fine machining, and prototyping. Thus, It holds the largest share of the controller market, and it is expected to remain dominant throughout the forecast period.
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), Haas Automation, Inc. (US), Hurco Companies, Inc. (US), Okuma Corporation (Japan), Wuhan Huazhong Numerical Control Co., Ltd. (China), and Yamazaki Mazak Corporation (Japan).
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APAC is home to some of the largest multinational corporations operating in this market, including a majority of leading players of the CNC market. The growth of the market is primarily driven by growing manufacturing sector in the region. Furthermore, continuous advancements and technological innovations in various industries; economic development in China, Japan, and India; growing infrastructural developments in other countries in Southeast Asia; and increasing foreign investments in this region drive the market growth.
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