Market Research Future published a research report on “Motion Control Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
— Motion Control Market – Overview
The surge in Industrial manufacturing is a significant driver that is boosting the motion control market. Reports that review the semiconductor and electronics industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is projected to profit from a CAGR of 7.09 % in the forecast period.
The need to automate processes so that they can achieve a higher production volume is a crucial factor that is expected to shape the motion control market in the coming years. The incremental demand for motion sensors being detected from the healthcare, automotive, and aerospace sectors is expected to create favorable traction for growth of the market in the approaching years.
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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 segmentation of the Motion Control Market is carried out on the basis of application, industry, component, technology, and region. On the basis of application, the motion control market has been segmented into robotics, inspection, packaging, material handling, and others. The packaging division at present holds the principal share of the market and is anticipated to hold on to its top position till 2023. On the basis of industry, the motion control market has been segmented into metals & machinery manufacturing, semiconductor & electronics, aerospace & defense, automotive, healthcare, oil & gas, and others. By component, the motion control market has been segmented into motion controllers, electric drives, actuators & mechanical systems, AC motors, sensors, and feedback devices and others. On the basis of technology, the motion control market has been segmented into electromechanical actuation, pneumatic, and hydraulic. By region, the motion control market comprises of North America, Europe, the Middle East & Africa, South America and the Asia Pacific.
The motion control market covers regions such as North America, Europe, the Middle East & Africa, South America, and the Asia Pacific. The APAC market is expected to stay highly lucrative throughout the forecast period. In 2017, the Asia Pacific motion control market was valued at USD 6,000 Mn and is expected to observe a robust CAGR of 8.72% by 2023. The manufacturing amenities available in nations such as China, Japan, and Indian are undergoing upgradation to global standards, which is expected to offer opportunities for the motion control market in the region. The present stage of automation in the region’s manufacturing sector has been growing swiftly in recent years. Additionally, the availability of low-cost motion-controlled products from local manufacturers is affecting the market’s growth trends in the Asia Pacific region.
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The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market. The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market. The influence of governmental policies is motivating further development in the market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market.
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