Pune, India, July 17, 2019 (GLOBE NEWSWIRE) -- The global computer numerical control (CNC) controller market is highly lucrative and predicted to witness significant growth at a 6.45% CAGR over the forecast period (2017-2023), reveals the Market Research Future (MRFR) report. CNC controllers are devices, which control processes and machines, and comprises various components such as the motor driver, circulatory protection system, and the power supply unit, among others. It is used to retrofit multiple forms of machine shop equipment such as inspection equipment, automatic welding machines, torch tables, electro-discharge machining equipment, grinders, lathes and turning centers, vertical mills, and horizontal mills. Automotive repair, construction, and heavy fabrication are its most frequent users.
The advent of CNC controllers and its proliferation has transformed the manufacture of several metal products. It comprises of multiple-axis simultaneous machining which is controlled or operated by specialized software, which today allows the manufacturing of components and parts that once were deemed to be impractical considering the time, cost, and size.
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Market Mavericks
Leading players profiled in the CNC controller market report include Okuma Corporation (Japan), FANUC Corporation (Japan), Yamazaki Mazak Corporation (Japan), Wuhan Huazhong Numerical Control Co Ltd (China), Haas Automation, Inc (U.S.), Fagor Automation Corporation (U.S.), Hurco Companies, Inc (U.S.), DMG Mori Co Ltd, Bosch Rexroth AG (Germany), Mitsubishi Electric corporation (Japan), Siemens AG (Germany), and others.
May 2019: Siemens, the largest industrial manufacturing company in Europe, has launched Sinumerik ONE, the digital native CNC controller along with software to develop a digital twin. It will help machine manufacturers in creating complete virtualization of their development as well as machine processes.
Factors Catalyzing CNC Controller Market Growth
In accordance with the Market Research Future report, there are a couple of factors that are driving the CNC controller market. These include increasing adoption of industrial automation, especially in the manufacturing industry, growing demand for customized mass production of CNC controller across end user industries, and the ability to cut down operating cost.
On the contrary, the high implementation and maintenance cost of CNC machines is likely to hamper the CNC controller market growth over the forecast period.
Market Segmentation
The Market Research Future report provides an inclusive analysis of the CNC Controller Market based on axis type, end user, component, product, and application.
Based on application, the CNC controller market is segmented into semi-closed loop control, open loop control, and closed loop control. Of these, the closed loop control segment will have the largest share in the market over the forecast period, followed by the open loop control segment.
Based on product, the CNC controller market is segmented into motion control chip based, DSP based, and microcontroller based. Of these, the microcontroller based segment will dominate the market over the forecast period while the DSP based segment is predicted to grow at the highest CAGR.
Based on component, the CNC controller market is segmented into motor drivers, circuitry protection system, cabling, power supply unit, cabling, software, and more. Of these the software segment is projected to lead the market over the forecast period.
Based on end user, the CNC controller market is segmented into metal and mining, aerospace, defense and healthcare, electronics, automobile, and others. Of these, the healthcare segment will have the maximum share in the market over the forecast period followed by the automobile and defense segment.
Based on the axis type, the CNC controller market is segmented into multi axis, 5 axis, 4 axis, 3 axis, and 2 axis. Of these, the 3 axis segment is predicted to lead the market over the forecast period.
North America to Remain Frontrunner
By region, the CNC controller market report covers growth opportunities and latest trends across Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will remain the frontrunner in the market over the forecast period. This is chiefly due to the developing manufacturing sector in this region, early adoption of CNC technology, and growing demand for CNC owing to environmental concerns, search for alternative sources of power, and scarcity of natural resources.
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The CNC controller market in the APAC region will have the second largest share in the market over the forecast period. This is owing to the presence of some of the top multinational companies, the developing manufacturing sector, and increasing foreign investments. Moreover, technological innovations and continuous advancements in numerous industries, growing infrastructural developments, and economic development in India, China, and Japan are also pushing the market growth in this region.
The CNC controller market in the European region is predicted to grow at the highest CAGR over the forecast period. This is owning to the burgeoning demand for CNC controller for machinery manufacturing equipment, medical devices, and automobiles. Moreover, the creation of advanced controllers, ability to support multiple axes, and advancement in the controller capability are also contributing to the market growth in this region.
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