CNC Controller Market Value, Growth, Forecast [2021-26]
The CNC controller market is expected to grow from $2.8 billion in 2021 to $3.4 billion by 2026, at a CAGR of 3.6% according to a new report by MarketsandMarkets Research.
Rising adoption of industrial automation and increasing demand for mass production in the automotive industry are the major factors driving growth in the CNC controller market. However, the high capital requirements for installation and maintenance of CNC machines restraints market growth to some extent.
CNC Controller Market Report Scope
Estimated Market Size: $2.8 billion in 2021
Projected Market Size: $3.4 billion by 2026
Growth Rate: CAGR of 3.6% from 2021 to 2026
Base Year: 2020
Forecast Period: 2021-2026
Key Companies: FANUC, Siemens, Mitsubishi Electric, DMG MORI, Haas Automation
Market Dynamics
Drivers
The key factors driving growth in the CNC controller market are:
- Rising adoption of industrial automation in manufacturing: The increasing demand for real-time data analysis, predictive maintenance, and industrial robots is driving the adoption of industrial automation in manufacturing globally. This is a major driver for the CNC controller market.
Restraints
- High capital requirements: Purchasing new CNC machines requires high upfront investments. This includes costs for purchasing, shipping, installation, operation, and maintenance. The high capital requirements are a restraint on the growth of the CNC controller market.
Segmentation
The CNC controller market is segmented based on:
- Offering: Hardware and Software & Services
- Machine Type: CNC machining center, CNC turning center, Others
- Axis Type: 2-axis, 3-axis, 4-axis, 5-axis, Multi-axis
- Sales Channel: Direct Sales, Indirect Sales
- Industry: Automotive, Aerospace & Defense, Construction Equipment, Power & Energy, Industrial, Others
The hardware segment accounted for the largest share of 71.6% of the market in 2021. Hardware is an essential component of CNC machines and includes components like drives, motors, servo drives, and others.
The automotive industry held the largest share of the market at 27.7% in 2021. CNC controllers are widely used in the automotive industry for applications like precision cutting, drilling, welding, grinding, etc. The growth in automotive manufacturing is driving demand for CNC controllers.
Regional Analysis
- Asia Pacific held the largest share of 39.6% of the CNC controller market in 2021. High growth in manufacturing and industrial activity in countries like China, Japan, India, and South Korea is driving the Asia Pacific market.
- North America was the second largest region with a 30.1% market share in 2021. The well-established automotive and aerospace & defense sectors are propelling market growth in North America.
Key Players
- FANUC: FANUC is the leading player in CNC controllers with a share of over 50% of the global market. The company offers a wide range of CNC, servo motors, lasers, and machine automation products.
- Siemens: Siemens is a global technology company and a leading supplier of industrial automation solutions. Its CNC controllers are highly advanced and improve productivity.
- Mitsubishi Electric: Headquartered in Japan, Mitsubishi Electric is a major player in CNC controllers, factory automation, robotics, automotive equipment, and more.
- DMG MORI: DMG MORI offers technologically advanced CNC machine tools along with integrated IT solutions and automation technologies.
- Haas Automation: Haas Automation manufactures CNC vertical mills, horizontal mills, lathes, and rotary products used for high-precision manufacturing.
Final Words
The CNC controller market is poised for steady growth driven by rising industrial automation and demand from key end-use industries like automotive and aerospace & defense. The shift towards smart manufacturing will further increase adoption of CNC controllers. Leading players like FANUC, Siemens and Mitsubishi Electric are focusing on more advanced controllers to gain market share.