Research Nester has released a report titled “Motion Control Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global motion control market in terms of market segmentation by component, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global motion control market is segmented by component into motor, motor drive, motion controllers, sensors & feedback devices and others, out of which, the motor segment held the largest market share of 34.91% in the year 2018. Moreover, the segment in the global motion control market is expected to cross a value of USD 6.37 billion by the end of 2027 from a market value of USD 4.51 billion in the year 2018 by registering a CAGR of 3.92% during the forecast period, i.e. 2019-2027. On the other hand, the segment is anticipated to achieve an incremental $ opportunity of USD 0.18 billion in the year 2020 as compared to the previous year.
The global motion control market is anticipated to achieve a CAGR of 3.82% throughout the forecast period. Increasing number of projects by manufacturing companies and its growing demand across various industries, along with the opportunities generated by the rising concerns regarding industrial safety, growing automation across various industries such as automotive, electronics and others, growing demand for industrial robots and the growing demand for motion control systems in the automotive industry are some of the major factors anticipated to promote towards the growth of the global motion control market. The market is expected to garner a value of USD 18.10 billion by the end of 2027 from a value of USD 12.92 billion in the year 2018 and is anticipated gain an incremental $ opportunity of USD 0.52 billion in the year 2020 as compared to the previous year, along with an absolute $ opportunity of USD 4.69 billion.
Regionally, the global motion control market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market of Asia Pacific motion control held the largest market share of 40.02% in the year 2018. The market in the region is further anticipated to cross a value of USD 7.19 billion by the end of 2027 from a value of USD 5.17 billion in the year 2018 by registering a CAGR of 3.74% during the forecast period.
Rising Demand for Industrial Robots in Manufacturing Processes
There is a substantial increase in the number of robot installations over the previous years, especially in the automotive manufacturing owing to the technological advancements and developments in the manufacturing industry. Industrial robots possess several features including vision recognition, failure prediction and others and form a crucial part of the manufacturing process. Industrial robots aid in manufacturing processes of various industries such as automotive industry and customization in machinery. Owing to such factors, there is a rising adoption of industrial robots in the manufacturing processes. Moreover, growing awareness pertaining to industrial accidents are boosting the acceptance of industrial robots in various end user verticals, increasing adoption of robots across manufacturing industries and the shift in trend of industries for automation of processes are some of the factors anticipated to drive the growth of the global motion control market.
However, high maintenance and replacement cost of motion control systems, coupled with the dynamic change in industrial standards across regions worldwide, that raises several problems for the deployment of motors in industries and the lack of skilled workforce for understanding the output results of motion control systems are some of the factors anticipated to limit the growth of the global motion control system market.
This report also provides the existing competitive scenario of some of the key players of the global motion control market, which includes company profiling of Parker Hannifin Corp (NYSE: PH), Rockwell Automation, Inc. (NYSE: ROK), ABB Ltd. (SWX: ABBN), Siemens AG (ETR: SIE), Ametek Advanced Motion Solutions, Emerson Electric Co. (NYSE: EMR), Yaskawa Electronic Corporation (TYO: 6506), Gears & Winches, Kohara Gear Industry Co., Ltd. and Accurate Specialties Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global motion control market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.