The global CNC controller market size was valued at USD 2.8 billion in 2021 and is projected to reach USD 3.4 billion by 2026; it is expected to grow at a CAGR of 3.6% from 2021 to 2026. The growth of the CNC controller market is majorly driven by rising adoption of industrial automation in manufacturing industries and increasing demand for mass production across automotive industry.
COVID-19
impact on the CNC controller market
COVID-19 is an infectious disease caused by the novel coronavirus. Largely unknown before this outbreak across the world, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020.
COVID-19 has impacted almost all the industries across the world by disrupting supply chains and hindering various industrial operations. Most companies have halted their manufacturing activities or have reduced it to the bare minimum. COVID-19-responsive measures undertaken by governments, such as lockdown and social distancing, led to the closure of manufacturing plants in the initial stage of the pandemic. With very few industrial operations allowed, the demand for various input products in the industrial sector has declined significantly. The aforementioned factors seem imperative to affect the market for CNC controller as very few new CNC machines are expected to be deployed by these industries during the ongoing crisis.
CNC
controller market in APAC contributed the largest share in 2020.
APAC accounted for the largest share of the CNC controller market in 2020. Growth of the market is majorly driven by the growing manufacturing sector in the region. Continuous advancements and technological innovations in various industries; economic development in major economies such as China, Japan, and India; increasing infrastructural developments in Southeast Asian countries such as Singapore, Thailand, and Malaysia, among others; and rising foreign investments in this region is expected to fuel market growth.
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Key
Market Players
The CNC controller players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, and expansions to strengthen their offerings in the market. The major players are FANUC(Japan), Siemens(Germany), Mitsubishi Electric(Japan), DMG MORI(Germany), and Haas Automation(US).
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