Competition Space Is Controlled By ABB, Allied Motion Inc., Altra Industrial Motion, Bosch Rexroth AG, Delta Electronics, Inc., Dover Motion, Eaton, Fuji Electric Co., Ltd., Kollmorgen Corp, Mitsubishi Electric Corporation, Moog Inc., National Instruments, Omron Corporation, Parker-Hannifin Corporation, Rockwell Automation Inc., Schneider Electric, Siemens AG, Toshiba Corporation, YASKAWA Electric Corporation, and Yokogawa Electric Corporation
PUNE, India, Oct. 01, 2020 (GLOBE NEWSWIRE) -- The Global Motion Control Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Motion Control Market was worth US$ 18.7 billion in 2019 and is expected to witness a CAGR of 5% between 2021 and 2030. Motion control plays a vital role in implementation of industrial automation technologies across discrete and process industries to improve the process efficiency. The motion control components have evolved significantly during past few decades owing to the integration of advanced technology fueled by demand for high throughput from industrial processes. Increased penetration of automation solutions has offered prominent opportunities and is expected to drive the growth in coming years. Manufacturers of motion control equipment and devices are focusing on integration of advanced technologies to make their products compatible with the changing industry landscape. Implementation of Industrial Internet of Things and /or Smart Factory across the globe is estimated to fuel the growth of the motion control market in coming years. However, due to disruption in manufacturing industry across the globe amidst the lockdown to prevent spread of COVID-19 is anticipated to slightly hinder the growth of the global motion control market in coming years.
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Declining cost and rising adoption of servo motors across critical control applications to drive market growth
The global motion control market is segmented on the basis of component, applications, end use industry, and geography. Based on component, the global motion control market is segmented into actuators & mechanical systems, AC drives, electronic drives, AC motors, servo motors, motion controllers, sensors & feedback devices, and others. The AC motors and servo motors collectively contributed the largest share to the global motion control market in 2019. The servo motors are anticipated to be grow at prominent rate during the forecast period owing to declining prices and rising demand for servo motors across applications demanding precise controlling. The motion controllers contributed a prominent share to the global motion control market in 2019 and is anticipated to be the fastest growing segment during the forecast period.
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Increased demand for sophisticated packaging solutions to drive the growth of motion control in packaging applications
Based on application, the global motion control market is segmented into assembly/disassembly, converting, inspection/measuring, material handling, metal fabrication, packaging, positioning, slicing, shearing, & cutting, and others. The packaging segment contributed the largest share to the global market in 2019 and is anticipated to be the fastest growing segment during the forecast period owing to rising demand for automated packaging across the globe. The expansion of e-commerce industry globally has accelerated the growth of packaging, thereby fueling the growth of motion control market.
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Based on geography, the global motion control market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific contributed a dominating share to the global market in 2019 and is anticipated to be the fastest growing geography during the forecast period owing to increased investment in integrating advanced industrial technologies across manufacturing industry. Expansion of process and discrete industries such as pharmaceuticals, oil and gas, food & beverages, automotive and heavy machinery across major Asian countries is anticipated to contribute towards the growth of the Asia Pacific motion control market during the forecast period. North America contributed a considerable share to the global motion control market in 2019 and is anticipated to witness steady growth during the forecast period.
Major players active in the global motion control market include ABB, Allied Motion Inc., Altra Industrial Motion, Bosch Rexroth AG, Delta Electronics, Inc., Dover Motion, Eaton, Fuji Electric Co., Ltd., Kollmorgen Corp, Mitsubishi Electric Corporation, Moog Inc., National Instruments, Omron Corporation, Parker-Hannifin Corporation, Rockwell Automation Inc., Schneider Electric, Siemens AG, Toshiba Corporation, YASKAWA Electric Corporation, and Yokogawa Electric Corporation.
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