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Motion Control Drive Global Market Analysis, Trends, Growth, Research And Forecast 2033
Motion Control Drive Global Market
As per the report, the motion control drives market size has grown strongly in recent years. It will grow from $6.48 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The motion control drives market size is expected to see strong growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
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Automation Surge In Manufacturing Fuels Growth Of The Motion Control Drive Market
The rise in the adoption of automation in manufacturing is expected to propel the growth of the motion control drive market going forward. Automation is using technology, machines, or systems to perform tasks with minimal human intervention. It involves the application of technology to monitor and control processes, reducing the need for constant human control and enhancing efficiency, precision, and consistency. The rise in the adoption of automation in manufacturing is due to the increasing need for efficiency, productivity, and quality control, the growing demand for customized products, and the need to address labor shortages and supply chain disruptions. Motion control drives are essential components in the automation of manufacturing processes that enhance precision, efficiency, flexibility, and safety, contributing to improved productivity, lower costs, and higher quality in manufacturing operations. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022, totaling 41,624 units. Therefore, the rise in the adoption of automation in manufacturing drives the motion control market.
Innovations In Motion Control Drives By Major Companies Meeting Industry Demands
Major companies operating in the motion control drive market are focusing on developing innovative products such as distributed servo to meet the increasing demand for precision, efficiency, and flexibility in automation across diverse industries. A distributed servo drive is a motion control system in which the servo drive electronics are located close to or integrated with the servo motor rather than centralized in a control cabinet. For instance, in July 2023, Rockwell Automation, a US-based company that manufactures motion control drives, launched the ArmorKinetix Distributed Servo Drive, distributed servo drive. It is a compact, on-machine form factor that enables production machines to become more efficient, flexible, and cost-effective. The drive offers advanced analytics, improved installations, and integrated safety features, making it an attractive solution for manufacturers seeking to reduce costs and improve productivity.
The motion control drive market covered in this report is segmented -
1) By Type: AC Drives, DC Drives, Servo Drives, Other Types
2) By Precision: Very High Precision, High Precision, Standard
3) By End-User: Semiconductor And Electronics Manufacturing, Food And Beverage, Aerospace And Defense, Automotive, Paper And Printing, Pharmaceuticals, Metals And Machinery Manufacturing, Other End-Users
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Major companies operating in the motion control drive market are Robert Bosch GmbH, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Fuji Electric Co. Ltd., Nidec Motor Corporation, Parker Hannifin Corp, MOVENSYS Inc., Emerson Electric Co, Delta Electronics Inc., Danfoss Inc., Rockwell Automation Inc., Advanced Micro Controls Inc., OMRON Corporation, Keyence Corporation, Fanuc Corporation, HIWIN Corporation, Regal Rexnord Corporation, SEW-EURODRIVE, YASKAWA Electric Corporation, Moog Inc., Altra Industrial Motion Corp., Kollmorgen, Sanyo Denki Co. Ltd., Harmonic Drive Systems, Allied Motion Inc., Technosoft Motion, Beckhoff Automation
Contents of the report:
1. Executive Summary
2. Motion Control Drive Market Report Structure
3. Motion Control Drive Market Trends And Strategies
4. Motion Control Drive Market - Macro Economic Scenario
5. Motion Control Drive Market Size And Growth
…..
27. Motion Control Drive Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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