$22.84 Billion Motion Control Market by Component Application, Industry and Geography - Global Forecast to 2022
Dublin, Ireland - Research and Markets has announced the addition of the "Motion Control Market by Component (AC Motors, Motors, Motion Controllers, AC Drives, Electronic Drives), Application (Packaging, Material Handling, Metal Fabrication, Converting, Positioning), Industry, and Geography - Global Forecast to 2022" report to their offering.
The motion control market is expected to be valued at USD 22.84 Billion by 2022, growing at a CAGR of 5.5% between 2016 and 2022.
The key driving factors for the growth of the motion control market are adoption of advanced and automated processes for factory automation, safety-enabled productivity in industries, increasing demand for industrial robots in manufacturing processes, and ease of use and integration of components within motion control systems. However, high replacement and maintenance cost is the major factor restraining the growth of this market.
Motors are expected to hold a major share of the market by 2022. The growing use of electric motors and automation has resulted in the greater demand for energy-efficient electric motors. Motors find wide application in aircraft, aircraft turbines, compressors and pumps, guided missiles, factory and industrial automation, and other motion control operations.
The packaging application is expected to hold the largest size of the motion control in 2016. Packaging involves number of applications such as sealing, labeling, case packing, bundling, shrinking wrappers, and indexing tables of products. In labeling, the packages require precise tension and position control which requires motion control technology such as motion controllers and drives.
The semiconductor and electronics industry is expected to grow at the highest rate between 2016 and 2022. Semiconductors and electronic products require high accuracy and extreme precision, along with high output. Increasing complexity in semiconductor and electronic equipment manufacturing is driving the need for high-tech motors, drives, and motion controllers.
The motion control market in the APAC region is expected to grow at the highest rate between 2016 and 2022. The demand for motion control systems is very high in APAC owing to the increasing automation activities in industries. Increase in machine tool production and growth of other sectors related to the production of smartphones and automobiles, which include electronics assembly, semiconductor machinery, and customized robots for different applications, are some of the major reasons for the growth of the motion control market in APAC.
Motion Control Market Dynamics:
- Growth of the Automation Market
- Ease of Use and Integration of Components Within Motion Control Systems
- Integrated Safety Functions in Drives
- High Manufacturing Cost
- Complexity in a Motion Control Machine
- Lack of a Highly Skilled Workforce and Trained Workers
- Improved Encoders Create New Possibilities in the Motion Control Market
- Emerging Markets
- Precision Laser Processing for Manufacturing Applications
- Designing Compact Machines
- ABB Ltd.
- Altra Industrial Motion Corporation
- Bosch Rexroth AG
- Dover Motion
- Moog Inc.
- Parker Hannifin Corporation
- Rockwell Automation
- Schneider Electric SE
- Siemens AG
- Yaskawa Electric Corporation
For more information about this report visit http://www.researchandmarkets.com/research/vndv3b/motion_control