Asia-Pacific region, which dominates the motion control industry with 41% market share, is expected to grow at the highest CAGR, says a new MarketsandMarkets report.
The global motion control market is expected to grow from $ 14.79 billion in 2014 to $ 21.99 billion by 2020, at a CAGR of 6.87 percent during 2015-2020, according to a new MarketsandMarkets report.
Motion control is a sub-field of automation, which controls the position and velocity of machines with the help of components such as motors, drives, sensors and motion controllers. Motion control is essential in robotics and computerised numerical control (CNC) machine tools even though it is more complex when compared to its use in specialised machines such as general motion control (GMC). Motion control is widely being used in packaging, printing, textile, semiconductor production, and assembly industries, along with being a significant part of any automation system.
“Various sectors such as aerospace & defence, automotive, semiconductor & electronics, metals & machinery manufacturing, and food & beverage utilise motion control systems to move an object from one place to another, in addition to controlling its acceleration, deceleration, or speed of motion. Increased demand for energy efficient solutions, enhanced production capacity, high level security, increased venture capital funding, and several initiatives taken by government bodies for industrial growth have led to the development of automation and industrial control systems across the globe,” said MarketsandMarkets in a press release.
One of the major growth drivers for the motion control market is the increasing investment by manufacturing industries. The technology’s major application is in the semiconductor & electronics industry and this trend is expected to continue during 2014-2020.
“Motion control systems help in streamlining the workflows in various industries which help the latter achieve optimum efficiency. The metal & machinery manufacturing application held the largest share among all applications of motion control market followed by semiconductor & electronics. Motion control products such as motors, drives, and controllers which are requited in metal & machinery manufacturing applications are used to control speed, acceleration overload, and quick breaking which helps improve the performance of machine tools,” said MarketsandMarkets in a press release.
As per the report, the Asia-Pacific (APAC) region dominates the motion control industry with 41 percent market share and is expected to grow at the highest CAGR. Increasing demand for the energy efficient production coupled with the need for software systems is fostering the growth of the motion control market in the APAC region. The growth of the automation market in APAC is also one of the important factors driving the growth of the studied market.
The competitive landscape of the market presents a very interesting picture. “The market is witnessing new product launches and large scale collaborations as well as agreements and partnerships across the value chain among a number of tier-one players around the globe,” said the report.
Some of the major players in this market include Siemens, Schneider Electric, Parker Hannifin Corporation, ABB Ltd, Yaskawa Electric Corporation, Moog Inc, Altra Industrial Motion Corporation, Bosch Rexroth, etc.