Motion Control: Market Projected to Grow at a CAGR of 3.82% by 2027

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Extensive insights into the Growth of Motion Control Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights

IN THE NEWS

February 2020: Parker Hannifin Corp. announced the release of its new Parker LM-Pro linear motor proportional valve under its precision fluidics division. These valves are used in the respiratory and anesthesia market.
May 2020: Rockwell Automation, Inc. announced that it has acquired ASEM S.p.a., an Italy based company which provides digital automation technologies. The acquisition will help Rockwell Automation expand its product portfolio in control and visualization hardware, as well as software.

Market Overview

Motion control systems include various components including motors, drives, motion controllers, and sensors and feedback devices. These motion control systems are used in every end-user industry including semiconductor, packaging, automotive, food and beverage, form part of this study. The growth of the global motion control market is thriving on the back of the opportunities generated by the rising concerns regarding industrial safety, increasing number of projects by manufacturing companies and growing demand across various industries. Moreover, growing automation across various industries such as automotive, electronics and others, coupled with the 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 global motion control market reached a value of USD 12.92 billion in the year 2018 and is expected to garner a value of USD 18.10 billion by the end of 2027 by registering a CAGR of 3.82% throughout the forecast period, i.e. 2019-2027. Additionally, the market 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.

Growth Highlights based on Region during 2018-2027

The global motion control market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific motion control held the largest market share of 40.02% in the year 2018 along with a value of USD 5.17 billion 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 by registering a CAGR of 3.74% during the forecast period.

On the other hand, the market in Europe is anticipated to gain a significant market share and is further expected to cross a value of USD 5.02 billion by the end of 2027 by registering a CAGR of 3.92% during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Motion Control Market

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation Synopsis

By Component

The global motion control market has been segmented by component into motor, motor drive, motion controllers, sensors & feedback devices and others. The motor segment, which held the largest market share of 34.91% in the year 2018, had a market value of USD 4.51 billion in the year 2018 and is expected to cross a value of USD 6.37 billion by the end of 2027 by registering a CAGR of 3.92% during the forecast period. Additionally, the segment is anticipated to achieve an incremental $ opportunity of USD 0.18 billion in the year 2020 as compared to the previous year.

Motion Control Market Share

Market Drivers and Challenges

Growth Indicators

Technological advancements and developments in the manufacturing industry is creating a substantial increase in the number of robot installations over the previous years, especially in the automotive manufacturing. Industrial robots are a crucial part of the manufacturing process owing to their features including vision recognition, failure prediction and others. Motion control is considered as one of the key technologies used in industrial robots. The potential of industrial robots to aid in manufacturing processes of various industries such as automotive industry and customization in machinery, coupled with the growing awareness pertaining to industrial accidents are boosting the acceptance of industrial robots in various end user verticals. The increasing adoption of robots across manufacturing industries, coupled with the shift in trend of industries for automation of processes +

Barriers

The 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 restrict the growth of the global motion control system market.

Competitive Landscape

Some of the affluent industry leaders in the global motion control market are Parker Hannifin Corp, Rockwell Automation, Inc., ABB Ltd., Siemens AG, Ametek Advanced Motion Solutions, Emerson Electric Co., Yaskawa Electronic Corporation, Gears & Winches, Kohara Gear Industry Co., Ltd. and Accurate Specialties Inc.

FREQUENTLY ASKED QUESTIONS

What are the major factors driving the growth of the Motion Control market?

Increasing adoption of industrial robots in end user industries is one of the major factors that is driving the growth of the market.

What would be the CAGR of Motion Control Market over the forecast period?

The market is anticipated to attain a CAGR of 3.82% over the forecast period, i.e. 2019-2027.

Which region is currently holding dominating share in the Motion Control market?

Asia Pacific (APAC) is anticipated to hold the dominating share in the market.

Which region will provide more business opportunities for growth of Motion Control market in future?

The market in Europe is anticipated to provide more business opportunities in the near future.

Who are the major players dominating in the Motion Control market?

The major players in the global motion control market are Parker Hannifin Corp, Rockwell Automation, Inc., ABB Ltd., Siemens AG, Ametek Advanced Motion Solutions, Emerson Electric Co., Yaskawa Electronic Corporation, Gears & Winches, Kohara Gear Industry

How are the company profiles selected?

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.