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Global Motion Control Market – Overview
Upsurge in the demand for automation in various areas of daily life have pushed the development of the motion control market to new heights. Market reports linked to the semiconductors & electronics sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to expand with a CAGR of 6 percent approximately while achieving revenues worth US $22 billion in the forecast period.
The upsurge in the concentration levels of automation in sectors such as commercial and manufacturing areas have led to the expansion of this sector. High levels of quality and flexibility achieved by the products related to motion control have created new scopes for the development of the market. Intensifying investment levels and growing number of production facilities have paved the way for a significantly robust growth phase of the industry in the forecast period.
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The key players in the market of motion control are- ABB Group (Switzerland), Rockwell Automation, Inc., (U.S.), Parker Hannifin Corporation (U.S.), Siemens AG (Germany), STMicroelectronics N.V. (Switzerland), Motion Control Corporation (U.S.), Schneider Electric (France), Trio Motion (U.S.), Emerson Electric (U.S.), AMETEK, Inc. (U.S.), Aerotech Inc. (U.S.) among others.
The Motion Control Market globally has been segmented into the segments of components, technology, application and industry. By components, the market has been segmented into controller, drives, motors, and software among others. On the basis of technology, the market comprises of hydraulic, pneumatic and electromechanical actuation. The application segment of motion control comprises of material handling, inspection and packaging among others while the industry segment contains Healthcare, Aerospace & Defense, Automotive, Manufacturing, Oil & Gas, and Robotics among others.
The Asia-Pacific region is controlling the Motion Control industry owing to the strong incidence of manufacturing companies in Japan, China and South Korea. The growing economy of Asian nations is also playing a major role in the growth of the motion control industry. The European region is the second biggest market followed by the North American market. The North America motion control industry is primarily fuelled by the factors such as the growing healthcare industry and high consumption of electronic equipment.
April 2018 Parker Hannifin which is the global leader in motion and control technologies, through their Electromechanical & Drives Division have announced a motion control design tool for engineers to aid with appropriate selection of electromechanical linear motion. The Virtual Engineer offers an intuitive interface where users can effortlessly enter their application conditions such as speed, load, and external forces then quickly direct to accurately sized product choices. The tool also delivers a custom specification report, CAD models, and flawlessly makes a ready-to-issue request for quote. By linking directly with Parker motion control experts, the Virtual Engineer takes association to a new level, and by increasing the efficiency of valuable engineering resources. However, Virtual Engineer will currently support Parker Electromechanical and Pneumatic products.
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Global Competitive Analysis
Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available. This particular trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has benefitted the market competitors tremendously in this industry.
The well-known competitors in the industry of motion control are Rockwell Automation, Inc., (U.S.), ABB Group (Switzerland), Parker Hannifin Corporation (U.S.), STMicroelectronics N.V. (Switzerland) and Siemens AG (Germany) to name a few.
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