The global motion
control market size is expected to grow from USD 14.9 billion in 2020 to USD 16.5
billion by 2025, at a CAGR of 2.5%. Growth in adoption of automation in
manufacturing facilities to secure employee health & safety in the COVID-19
crisis, high adoption of advanced and automated processes in the manufacturing
sector, safety-enabled productivity in industries due to stringent safety rules
imposed by governments, increasing demand for industrial robots in
manufacturing processes, ease of use and integration of IIoT with motion
control systems are the key factors driving the growth of the motion control
market.
Impact of COVID-19 on the motion control
market
COVID-19 has severely impacted the global
economy and all the industries throughout the globe. This is mainly due to the
disruptions in the supply chain across the globe. The economies across the
world have declined as there is a major decline in the demand for products. The
production across industries has been limited due to the pandemic resulting in
the shortage of raw material. The decline in exports and the disruptions in the
supply chain are the major factors contributing to the decline in production.
The motion control market is thus getting affected by COVID-19. This has
resulted in a lower estimated year-on-year growth rate for 2020 as compared
with 2019.
“Motion Control market in APAC to grow at the
highest CAGR”
The growth is attributed to the increasing
industrial activity, along with the demand for faster and accurate motors and
drives to achieve a higher production output. The increasing demand for
energy-efficient production processes coupled with the need for software
systems is fostering the growth of the motion control market. High growth
observed in machine tool production and other sectors related to the production
of smartphones and automobiles, which include electronics assembly,
semiconductor machinery, and customized robots for different applications, is
also supporting the growth of the motion control market in APAC.
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Key Market
Players
ABB Ltd.
(Switzerland), Parker Hannifin Corporation (US), Rockwell Automation, Inc.
(US), Schneider Electric SE (France), and Siemens (Germany), Fanuc (Japan),
Yaskawa (Japan), Mitsubishi Electric Corporation (Japan), Bosch Rexroth AG,
(Germany). are a few major players in motion control market.
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