Press release
Automation Components Market on Track for Strong Growth, Estimated to Grow at 10.7% CAGR Through 2029
Automation Components
Automation Components Market Size Growth Forecast: What to Expect by 2025?
The market size of automation components has seen considerable growth in recent times. The projected growth from $161.71 billion in 2024 to $177.15 billion in 2025, at a compound annual growth rate (CAGR) of 9.5%, indicates a strong trajectory. Factors such as the need for tailored solutions, rising pressure to cut costs, heightened demand for efficiency, labour scarcity and requirements to adhere to regulations have all contributed to this historical period of growth.
How Will the Automation Components Market Size Evolve and Grow by 2029?
Rapid expansion is projected for the automation components market in the coming years, with an anticipated value of $265.82 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.7%. Factors contributing to this growth during the forecast period include sustainability measures, digital transformation, the rise of Industry 4.0, integration of artificial intelligence, and reinforcement of supply chain resilience. Key trends during this period encompass the inclusion of edge computing, increasing utilization of collaborative robots (cobots), the uptake of predictive maintenance strategies, proliferation of industrial internet of things (IIoT) applications, and the use of additive manufacturing for tailored components.
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What Drivers Are Propelling the Growth of Automation Components Market Forward?
The surge in the need for industrial robots in manufacturing methods is predicted to boost the automation component market in the future. These robots, which are programmable mechanical devices, are employed for automating tasks in manufacturing procedures like assembly, welding, painting, and material handling. Their rising demand is attributed to their potential to enhance efficiency, accuracy, and productivity, whilst minimizing labor expenses and elevating safety. The automation component further intensifies the effectiveness and functionality of these industrial robots, simplifying manufacturing processes. For example, as per the World Robotics 2023 report released by the International Federation of Robotics, a non-profit organization based in Germany, in 2022, there were 414,281 operational robots in Japan, 728,391 in Europe, and 491,535 units in the Americas, an increase of 9%. The United States was responsible for 7% of global robotic installations, which saw a 7% rise to more than 590,000 units in 2023. Hence, the escalating demand for industrial robots in manufacturing methods is propelling the growth of the automation component market.
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Which Emerging Trends Are Transforming the Automation Components Market in 2025?
Leading firms in the automation components market are innovating advanced solutions such as sensor experience kits. These are specifically designed for IoT engineering to satisfy the increasing need for integrated and scalable IoT solutions. These kits typically comprise assorted sensors, development boards, connectivity modules, and software tools intended to expedite the rapid prototyping and implementation of IoT applications. For example, in February 2023, Henkel AG & Co. KGaA, a manufacturer based in Germany, unveiled the Sensor INKxperience Kit for IoT engineering. The kit provides four distinct pre-set electronics technologies bundled with hardware and software. This allows professional engineers to explore and experiment with printed sensor technologies catered for IoT applications. The kit which includes a leak detection sensor, a non-contact liquid level sensor, a positive temperature coefficient (PTC) heater, and single and multi-zone force sensitive resistor (FSR) sensors, facilitates prototyping and testing of sensor solutions swiftly for engineers.
What Are the Key Segments in the Automation Components Market?
The automation componentsmarket covered in this report is segmented -
1) By Components: Rollers, Stages, Linear Shafts, Bushings, Linear Guides, Locating Pins, Bearings, Gears, Couplings, Other Components
2) By Solution: Supervisory Control And Data Acquisition, Programmable Logic Controller, Distributed Control System, Plant Asset Management, Functional Safety, Product Lifecycle Management, Manufacturing Execution System
3) By End User Industry: Automotive, Consumer Electronics, Pharmaceuticals, Food And Beverage, Packaging, 3D Printing, Semiconductors, Chemical, Other End-User Industries
Subsegments:
1) By Rollers: Conveyor Rollers, Guide Rollers, Idler Rollers, Ball Transfer Rollers
2) By Stages: Linear Stages, Rotary Stages, XY Stages, Precision Stages
3) By Linear Shafts: Hardened Linear Shafts, Ground Linear Shafts, Non-Ground Linear Shafts
4) By Bushings: Linear Bushings, Sleeve Bushings, Flanged Bushings, Bearings and Bushings Assemblies
5) By Linear Guides: Roller Linear Guides, Ball Linear Guides, Cross Roller Guides
6) By Locating Pins: Spring Loaded Locating Pins, Manual Locating Pins, Pneumatic Locating Pins
7) By Bearings: Ball Bearings, Roller Bearings, Thrust Bearings, Needle Bearings
8) By Gears: Spur Gears, Helical Gears, Bevel Gears, Worm Gears, Planetary Gears
9) By Couplings: Flexible Couplings, Rigid Couplings, Universal Couplings, Shaft Couplings
10) By Other Components: Fasteners, Clamps, Mounting Brackets, Drive Units, Sensors, Other Supporting Automation Components
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Who Are the Key Players Shaping the Automation Components Market's Competitive Landscape?
Major companies operating in the automation components market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corporation, Nidec Corporation, TE Connectivity Ltd., Parker Hannifin Corporation, Emerson Electric Co., Svenska Kullagerfabriken, Rockwell Automation Inc., Danfoss, Omron Corporation, Bosch Rexroth AG, FANUC Corporation, SMC Corporation, Keyence Corporation, Yaskawa Electric Corporation, Festo AG & Co. KG, KUKA AG, Yokogawa Electric Corporation, National Instruments Corporation, Automotion Components Ltd
What Geographic Markets Are Powering Growth in the Automation Components Market?
Europe was the largest region in the automation component market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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