Research Nester has released a reporttitled “Motion Control Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Over the past few years, technological advancements and developments in the manufacturing industry has observed significant growth, augmented by the automation of industrial processes. As such, a substantial increase in the number of robot installations, especially in the automotive manufacturing industry has been used over the years, as these robots are a crucial part of the manufacturing process owing to their several advantages over manual work processes. Industrial robots possess features such as vision recognition, failure prediction and others.
These robots are controlled by motion control systems, which also play an important role in the robots. The increasing adoption of industrial robots in end user industries, followed by the potential of industrial robots to aid in manufacturing processes of various industries such as automotive industry and customization in machinery, shift in trend of industries for automation of processes and the increasing adoption of robots across manufacturing industries are some of the factors anticipated to drive the growth of the global motion control market.
The global motion control market is anticipated to achieve a CAGR of 3.82% throughout the forecastperiod, i.e. 2019-2027. The market is thriving on account ofgrowing automation across various industriessuch as automotive, electronics and others, increasing number of projects by manufacturing companies and its growing demand across various industries, opportunities generated by the rising concerns regarding industrial safety,growing demand for industrial robots and the growing demand for motion control systems in the automotive industry.
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.
The global motion control market is segmented bycomponent into motor, motor drive, motion controllers, sensors & feedback devices and others. Among these segments, the motor segmentheld the largest market share of 34.91% in the year 2018 and 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. 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.
Geographically, the global motion control marketis segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, the market of Asia Pacific motion control held the largest market share of 40.02% in the year 2018 and 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.
However,the dynamic change in industrial standards across regions worldwide, that raises several problems for the deployment of motors in industries, lack of skilled workforce for understanding the output results of motion control systems and high maintenance and replacement cost of motion control systems are some of the factors anticipated to impact negatively towards the growth of the global motion control market.
This report also studies existing competitive scenario of some of the key players of the globalmotion controlmarket, which includes 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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the reporttitled “Motion Control Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overallmotion control coatingsindustry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the globalmotion controlmarket in the near future.