Motion control market worth $20.0 billion by 2027
CHICAGO, May 26, 2022 /PRNewswire/ — According to the report “Motion Control Market by Offer (Actuators & Mechanical Systems, Motors, Motion Controllers, Drives, Sensors & Feedback Devices, Software & Services), System (Open Loop, Closed Loop), Industry & Region – Global Forecast up to in 2027″, released by MarketsandMarkets™, the market size is expected to grow from $15.5 billion in 2022 at $20.0 billion by 2027, at a CAGR of 5.2% between 2022 and 2027. The growth of this market is primarily driven by the increasing adoption of automation in manufacturing facilities to ensure the health and safety of employees after the COVID-19 outbreak, the growing need for high-precision automated processes in manufacturing, and the increasing emphasis by governments on enforcing strict measures to ensure workplace safety.
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The motion control market includes major Tier I vendors like ABB, FANUC, Siemens, Rockwell, Mitsubishi Electric, and Yaskawa. These vendors have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Rest of the world. COVID-19 has also impacted their business as several player manufacturing facilities shut down due to COVID-19 in 2020. According to industry experts, manufacturers are gradually realizing the importance of motion control more than ever. Additionally, a few technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) are in high demand as they are essential for smooth operation and help automate processes in facilities. Manufacturing.
Motors are expected to hold the largest market share in the motion control market over the forecast period owing to the growing demand for industrial automation in the manufacturing industry
Motors are key components of motion control systems. With the rise of industrial automation, manufacturers have emphasized the use of energy efficient motors. Energy-efficient motors offer various improvements over standard motors in terms of parameters such as winding, sheet quality and others, which significantly reduce operating costs. Motors find a wide range of applications in industries such as semiconductors and electronics, food processing, petrochemicals, pharmaceuticals, healthcare, packaging, paper and printing.
The motion control market for closed loop system is estimated to be the fastest growing market over the forecast period
A closed-loop control system, also known as a feedback system, examines the current output and changes it to the desired condition. the control action in these systems is based on the output. The adoption of closed-loop systems is high because the process is automated and error is reduced without human intervention. The closed-loop system can automatically adjust the inputs of systems, improve the stability of a system, reduce system sensitivity, increase robustness, and create a reliable system. Due to these factors, there is an increase in the adoption of a closed loop system.
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The automotive industry is expected to hold the majority of the motion control market over the forecast period
Closed-loop systems are designed to automatically reach and maintain the desired output state by comparing it to the actual state. They do this by generating an error signal which is the difference between the output and the reference input. The closed-loop system can automatically adjust system inputs, improve system stability, reduce system sensitivity, increase robustness, and create a reliable system without human intervention. Due to these factors, the adoption of the closed loop system is increasing. In April 2022, Optimal Engineering Systems, Inc. (OES) has launched a Figaro series of motion control systems with closed-loop configuration. To provide a closed-loop motion control system, this series can be configured with any combination of stepper, DC servo, and BLDC motor drivers.
Asia Pacific is likely to emerge as the fastest growing region during the forecast period
Asia Pacific is expected to be the fastest growing region in the global motion control market over the forecast period. The increase in urbanization and industrialization is exploding the demand for motion control in the region. Moreover, the growth of Asia Pacific region is due to the increasing adoption of automation technologies, such as robots, in several industries, the increase in the production of machine tools, and the growing use of smartphones and automobiles, which require systems motion control tools for assembling electronic and solid-state machines.
ABB Ltd. (Swiss), FANUC Corporation (Japan), Parker Hannifin Corporation (USA), Rockwell Automation, Inc. (USA), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Altra Industrial Motion Corp. (USA) and Novanta Inc. (USA) are some major players in the motion control market.
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