The business landscape of the global CNC controller market is marked by intense competition among participants, reports a new research study by Report Ocean. Key players, such as Mitsubishi, Fanuc Corp., Siemens, and Bosch, are gaining substantially from the increasing need for high security in the aerospace and defense industry. Manufacturers are receiving high demand for technologically advanced CNS regulators to be deployed in military and combat machinery. Over the coming years, market participants are expected to focus more on technological innovation and product launches.
The report is titled “Global CNC controller Market Size, by Hardware (CNC Machine and CNC Controller), by Type (Open Loop, Close Loop and Semi-close Loop), by Application (Lathe, Milling Machine, Router, Mill-turn Multi Axis Machines, CNC Laser Cutter, Plasma Cutter, 3D Printer, Surface Grinder and Others), Industry Type (Aerospace, Automobile, Consumer Product, Defense, Electrical & Electronics, Healthcare And Industry Machinery), by Number of Axes (2-Axis , 3-Axis , 4-Axis , 5-Axis and Multi Axis) and Regional Forecasts 2020-2027.”
Demand for CNC witness Rise, thanks to Increased Industrial Automation
According to the research study, the uptake of industrial automation in the manufacturing sector has surfaced as the key driving force behind the growth of this market. With the advent of technology, automation has become the trend of this era. One of the earliest sectors to adopt automation is the manufacturing sector. Around 1.2 million industrial robots are likely to be launched in the manufacturing sector by the end of 2025. The ongoing expansion in the manufacturing sector is also adding to the market’s progress substantially. Other factors, driving this market, are the increasing interest for large-scale manufacturing across end-use industries and the efficiency offered in operational cost by CNC controllers to organizations.
Going forward, the expansion in the automotive industry is likely to create lucrative opportunities for CNC controller manufacturers during the forecasted period. However, the need for large capital for the deployment and implementation of CNC machines may limit the market’s growth over the next few years, reports the study.
As per the report, the global computer numerical control (CNC) controller market was valued approximately at US$3.20 bn in 2019 and is anticipated to rise at a healthy CAGR of more than 3.80% over the forecast period of 2020-2027.
North America Leads Global CNC Controller Market
The regional analysis of global CNC controller Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America has been leading the global market, thank to continued technological advancements in the manufacturing sector in this region. Researchers expect this regional market to remain on the top over the period of the forecast. Asia Pacific is also anticipated to showcase a high growth rate in the years to come. Factors, such as continuous advancements and technological innovations in various industries and the increase in foreign investments in this region, are expected to create new revenue stream for market players in the near future.
Impact of Covid 19 on Global CNC Controller Market
Like several other markets, the global CNC controller market has also been hit severely by the ongoing Coronavirus pandemic. The focus has completely shifted to the R&D on Covid 19, leaving every other thing hung in the balance for now. However, with positive news coming in from leading drugmakers and vaccine round the corner, the market is expected to return to normal soon.
- The uptake of industrial automation in the manufacturing sector has surfaced as the key market driver.
- North America has been leading the global market, thank to continued technological advancements in the manufacturing sector in this region.
The global CNC controller market is segmented into:
- CNC Machine
- CNC Controller
- Open Loop
- Closed Loop
- Semi-closed Loop
- Milling Machine
- Mill-turn Multi Axis Machines
- CNC Laser Cutter
- Plasma Cutter
- 3D Printer (Industrial, Sintered Metal)
- Surface Grinder
By Industry Type
- Consumer Products
- Electrical and Electronics
- Industrial machinery
By Number of Axes
- Multi axis
- North America
- Asia Pacific
- Latin America
- Rest of the World
Companies Mentioned in the Report
- Fanuc Corporation
- Siemens AG
- Mitsubishi Electric Corporation
- DMG Mori Co. Ltd.
- Hurco Companies Inc.
- Okuma Corporation
- Wuhan Huazhong Numerical Control Co. Ltd.
- Bosch Rexroth AG
- Fagor Automation
- Haas Automation Inc.
Company Name: Report Ocean
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