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Motion Control Market 2024 - By Size, Share, Trends And Growth Prospects 2033
Motion Control Market
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According to The Business Research Company's, 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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Market Drivers and Trends:
Expansion of the aerospace sector is expected to propel the growth of the motion control market going forward. The aerospace industry comprises a wide range of commercial, industrial, and military applications involving vehicular flight within and beyond the Earth's atmosphere. Motion control systems are appropriate for use in emergency fuel systems, pilot cooling system pumps, mobile weapon systems, and other aerospace applications. For instance, Airbus SE, a France-based aircraft manufacturer, delivered 661 commercial aircraft to 84 customers in 2022, and registered 1,078 gross new orders, an 8% increase from the previous year. Therefore, the expansion of the aerospace sector is driving the growth of the motion control market.
Product innovation is the key trend that is gaining popularity in the motion control market. Major companies operating in the motion control market are focused on developing new technological solutions to strengthen their position in the market. For instance, in May 2021, Performance Motion Devices, Inc., a US-based company operating in high-performance motion control, launched its advanced motion controller known as the ION/CME N-Series digital drive with intelligent motion control amplifiers to meet high-end motion control needs in manufacturing. Intelligent motion control is a high-performance motor control drive that can control multi-phase motors such as AC and DC induction motors for sophisticated control features. The ION/CME N-Series Digital Drive provides a complete control solution with advanced features such as a flexible connection option, 1 KW output capacity, support for quadrature, a communication interface, sin/cost, and BiSS-C encoders, among others.
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Major Key Players of the Market:
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
Motion Control Market 2024 Key Insights:
• 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%.
• Automation's Impact On Motion Control Market Growth In Manufacturing Facilities
• Product Innovations In Motion Control Market
• Asia-Pacific was the largest region in the motion control market share in 2023
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