Press release
Motion Control Global Market Report 2024 - By Growth, Size, Share, Trends, Report, Forecast To 2033
The Business Research Company presents an extensive market research report on the Motion Control Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The motion control market size has grown strongly in recent years. It will grow from $15.91 billion in 2023 to $16.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to innovation in entertainment and gaming, industrial automation growth , demand for robotics , increase in manufacturing activities, emphasis on precision and efficiency ..
The motion control market size is expected to see strong growth in the next few years. It will grow to $20.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to industry 4.0 and smart manufacturing, rise in robotics and automation, expansion in industrial iot , demand for precision engineering, energy efficiency focus.. Major trends in the forecast period include safety innovations, expansion in electric vehicles , healthcare automation, food processing automation, entertainment and gaming integration ..
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Key Market Players:
Major companies operating in the motion control market report are ABB Ltd., Fanuc Corporation, Mitsubishi Electric Corporation, Siemens AG, Yaskawa Electric Corporation, Altra Industrial Motion, Parker Hannifin Corporation, Rockwell Automation Inc., Robert Bosch GmbH, Dover Motion, Omron Corporation, Novanta Inc., AMETEK Advanced Motion Solutions, Galil Motion Control, Schneider Electric SE, Emerson Electric Co., STM Microelectronics, Bosch Rexroth AG, Kollmorgen, Moog Inc., Aerotech Inc., Delta Electronics, Advanced Motion Controls, Copley Controls, Elmo Motion Control, Faulhaber Group, Harmonic Drive LLC, KEB America, LinMot USA, Maxon Motor AG
Market Drivers:
The surging adoption of automation in manufacturing facilities is expected to propel the growth of the motion control market going forward. Automation refers to the use of technology such as robots to automate tasks without manual intervention. Many industries are adopting motion-control robots to achieve maximum automation and efficiency in operations. Integration of motion control robots in manufacturing industries provides the advantage of improving productivity, quality, and safety of workers by reducing errors and waste and adding flexibility to the manufacturing process. For instance, in March 2022, according to the Manufacturing India article, an India-based agency that provides new related information to various industries, including production, automation updates, manufacturing, and automation updates, reported that wide adoption of automation had been seen in Indian manufacturing industries, and it was estimated that by 2050, approximately 85-90% of manufacturing firms in India will have adopted automation in operations. Therefore, the surging adoption of automation in manufacturing facilities is driving the growth of the motion control market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/motion-control-global-market-report
The motion control market covered in this report is segmented -
1) By Type: Computerized Numeric Control, General Motion Control, Servo drives, Position control hardware
2) By Component: Actuators and Mechanical Systems, Motion Controllers, Electric Drives, Ac Motors, Sensors and Feedback Devices
3) By Application: Metal Cutting, Metal Forming, Material Handling Equipment, Robotics, Semiconductor Machinery, Rubber and Plastics, Machinery, Other Applications
4) By Industry: Aerospace and Defense, Automotive, Semiconductor and Electronics, Metals and Machinery Manufacturing, Food and Beverages, Medical, Printing and Paper, Pharmaceuticals and Cosmetics, Other Industry
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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