3-axis CNC machines are projected to
account for the largest share of the global CNC Controller
market during the forecast period. The
implementation of these machines in the manufacturing of parts improves speed
and accuracy of the production process. However, the market for controllers in
5-axis CNC machines is expected to witness higher growth between 2017 and 2023.
Controllers are used in 5-axis CNC machines for manufacturing complex machine
parts in critical industries such as aerospace and defense. They enable the
manufacturing of critical aircraft components more accurately.
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The CNC market ecosystem comprises raw
material suppliers, component manufacturers, system integrators, and
distributors. 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).
The automotive industry is projected to
account for the largest share of the overall controller market during the
forecast period. CNC controllers play a key role in the development and
production of quality automobile components. Innovations in the assembly line
methods are welcomed by vehicle manufacturers to enhance quality and increase
factory productivity. Furthermore, increasing need for safety and reliability
in the aerospace and defense industry has encouraged manufacturers to adopt
advanced CNC controllers in machines that are capable of multiaxis movement.
This is expected to drive the growth of the market for CNC controllers in the
aerospace and defense industry during the forecast period.
APAC held the largest share of the
overall CNC controller market, and the market growth is attributed to the
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. Additionally, the large-scale industrialization
and urbanization are fueling the growth of the market in APAC.
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