I am coming to the end of my second year and planning to start job applications. Was wondering if having a CASE award phd helps you get a job? And how likely is it that the sponsoring company will offer you a job??

It depends if you're any good and by now you should have spent some time working in the labs of your industrial partner. They will have an opinion of you by now. If it's a positive one, then you have a good internal reference supporting your application to work with them. If they don't rate you very highly then the opposite is true. Generally CASE awards are not created by the industrial partner as a recruiting tool. It's to get work done cheaply, that they don't have the skills to do themselves, and is a cost efective way of tapping into your supervisors expertise.