Motion Control Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2030
Motion Control Market Overview
As the industries across the world look at automation as the response to the increasing overhead costs, motion control market holds a prominent position. In addition, safety concerns raised by the governments of various geographies for the employees working in a hazardous environment also encourage industrialists to invest in motion control systems such as high-level automatic equipment, sensors, machine tools, and more.
On the other side, there are several deterrents such as the complexity of operating these machines having motion control, which is leading to limited incorporation. Overall, the global motion control market is anticipated to advance at a steady pace during the forecast period.
Focus on High Quality of Products in Numerous Industries to Push Growth
Digitalization has started revolutionalizing almost all the industries, which has pushed the industrialists to move from manual processes to the digital ones. Besides this, the importance of data has only increased to analyze the pluses and minuses in internal processes. Since sensors help present the exact location of faulty systems and in some cases trigger the self-repair command, investments in motion control systems are growing more than ever.
Another strong driver is the focus on the production of high-quality products in the chemical, automotive, food & beverage, electronics & semiconductor industries, and more.
Maintenance Cost Creates the Gloom in the Motion Control Market
Heavy prices of equipment, owing to the sophisticated motion controllers used in it, often creates a purchaser’s dilemma for the small-sized industrialists. Besides this, these pieces of machinery are made up of various components, which are not readily available at times. This creates a halt in the production process, which negatively impacts the growth of the motion control market.
In addition, ageing of these pieces of machinery is yet another concern, which then demands maintenance, and is heavy on the pockets of the industrialists.
Automotive Industry to Unlock Impressive Opportunities for the Market Growth
The automotive industry holds significant opportunities, on the account of the major revolutions taking place in accordance with the electric car, self-driving car, and safety control systems. The automobile manufacturers are looking forward to taking their car productions to the next level with high network capabilities.
In addition, the drive for developing efficient engines is likely to encourage manufacturers to incorporate motion control systems in their products during the forecast period.
Asia Pacific to Lead the Global Motion Control Market
Foreign direct investments in the developing, as well as developed countries of Asia Pacific, is one of the leading drivers for the growth of the motion control market. The labour costs have begun rising, which further impacts on the overhead costs. As a result, companies are showing their reliance on motion-controlled systems to have better control over their operations.
In addition, increased safety standards, growing investments for safe pieces of machinery, and high-power requirements for the operations are expected to further bode favourable growth environment for the Asia Pacific motion control market during the forecast period.
Standardization is the Key to Thrive in the Motion Control Market
The motion control market is crowded with the well-established players and some prominent players such as Bosch Rexroth AG, Mitsubishi Electric Corporation, Yaskawa, Fanuc, Siemens, Schneider Electric SE, Rockwell Automotion Inc., Parker Hannifin Corporation, and ABB Ltd. among others.
End users tend to find it difficult to replace the faulty motion sensors with the new ones, owing to the specific components used in the equipment. As a result, they are opting for the standardized equipment, which has been encouraging manufacturers to incorporate standard components and controllers.
Besides this, innovation in the industry has been a common strategy for all the players. For instance, the focus of ABB Ltd. is on broadening its product portfolio by offering motion solutions for automation with servo motors, inverter and vector drives, and motion control drives with single-phase and three phases.
In addition, in June 2020, Parker Hannifin announced that it has extended its product line of Parker Servo Drive with a completely programmable drive. Moreover, Rockwell Automation announced the acquisition of ASEM in February 2020 to strengthen its product portfolio of visualization as well as control solutions.
Motion Control Market Segmentation
The motion control market has been segmented on the basis of industry, system, component, and region.
This report is the key to questions such as:
What is the Size of the Motion Control Market?
What is the Historical Growth Rate of the Motion Control Market?
Historically, the growth rate of the motion control market is likely to be 2%, owing to the corona-induced stagnancy. However, it is anticipated that the performance of the market would improve around 2022.
What is the Forecasted Growth Rate of the Motion Control Market?
Our analysts opine that the motion control market would register a CAGR of over 3% during the forecast period 2020 to 2030. The precautions taken by several governments to beat COVID-19 would serve as a significant driver in inducing normal work conditions. Besides this, the increase in competitiveness among various end-use industries would further turn favourable for market growth.
Which Categories will Remain Lucrative in the Motion Control Market?
Based on the industry, the automotive industry holds significant opportunities for the motion control market, owing to the demand for safe and efficient rides.
On the basis of systems, the adoption of closed-loop systems is going to be noteworthy, as industrialists seek minimal/no human intervention in their processes.
Demand for accurate and energy-efficient production systems is likely to drive a majority of sales of motors, among the other components.
Which are the Key Markets?
China, Japan, South Korea, and India in the Asia Pacific region are the key motion control markets, on account of the industrial revolution 4.0 taking place at a high pace, thereby leading to demand for efficient processes and operations.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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