DUBLIN--(BUSINESS WIRE)--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" report has been added to Research and Markets' offering.
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 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.
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.
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market Analysis, By Hardware
8 Types of Software and Services
9 Market Analysis, By Machine Type
10 Market Analysis, By Axis Type
11 Installation Types of CNC Machines
12 Market, By Industry
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
- Batliboi Ltd.
- Bosch Rexorth AG
- DMG Mori Co. Ltd.
- Fagor Automation
- Fanuc Corporation
- GSK CNC Equipment Co. Ltd.
- Gf Machining Solutions Management SA
- Haas Automation Inc.
- Hardinge Inc.
- Heidenhain Corporation
- Heller GmbH
- Hurco Companies Inc.
- Hyundai Wia
- Index Traub
- Jyoti CNC Automation Ltd.
- Machine Tool Technologies Ltd
- Mitsubishi Electric Corporation
- Okuma Corporation
- Samsung Machine Tools
- Siemens AG
- Wuhan Huazhong Numerical Control Co. Ltd.
- YUG Machine Tools
- Yamazaki Mazak Corporation
For more information about this report visit https://www.researchandmarkets.com/research/hfw3d8/cnc_controller