Growing need for faster production process of electronic products has led to an upsurge in demand for motion control systems globally. In addition, surge in demand for intelligent technology is expected to impact growth of the global market positively. Fact.MR states that the global motion control market is expected to reflect a CAGR of 5.0% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global motion control systems market is mainly bound to various macro-economic and micro-economic factors. Increasing production of the electronic products will continue to rev up demand for the motion control systems in various industries. As manufacturing process of electronics and automotive products require accuracy and precision while controlling various parts of the manufacturing machines, manufacturers are increasingly adopting leading technology that offering distributed intelligence. Moreover, adoption of smart motion controllers has led to low cost of production and faster manufacturing process. Surge in demand for cost-effective technique and speedy process of manufacturing is projected to impact growth of the global market positively.
Demand for stacking, bottling, labelling, packaging and laser cutting increase, manufacturers are focusing on adopting motion controllers equipped with the smart actuators. With the increasing adoption of motion controllers equipped with smart actuators enables automated and convenient production process of the automotive and electronic products. The motion controllers also witness significant demand for the production of gaming equipment. Growing need for the handheld hardware controllers and movement sensors in the gaming products has led to an upsurge in adoption of the gaming and motion controllers significantly. Incorporation of gaming controllers equipped with cutting-edge technology enables the end user to control and interact with the graphic user interface. Moreover, manufacturers are increasingly equipping the gaming products with cameras in the consoles, which senses the movement of the end users. These factors are expected to contribute towards growth of the global motion control market during the forecast period.
A trend recently witnessed in range of end use industries is the increasing adoption of the collaborative robotics that are equipped with smart actuators. As the need for conveyor application arises, adoption of the independently controlled motion systems and leading motion technology continues to witness a robust demand. With the increasing adoption of the motion controllers that are equipped with intelligent motion technology alerts the end users with respect to the status of the manufacturing process and loading, and mechanical changes during the production process. Such factors are expected to impact growth of the global motion control market significantly.
Sales for Metal Cutting Application to Remain High
As the requirement for accuracy and precision during the manufacturing process increases, demand for AC servo components are projected to remain high. In terms of revenue, the AC servo component type segment is projected to represent significant revenue growth, representing more than US$ 2,400 Mn by 2026-end. In contrary, the others component type segment is projected to reflect a robust CAGR throughout the forecast period. By 2026-end, computer numerical control technology will outsell the general motion control technology, recording more than US$ 3,900 Mn.
By end users, the machinery segment is projected to witness significant growth in terms of revenue, accounting for more than US$ 1,300 Mn by 2017-end. On the other hand, the others end user segment is projected to witness the fastest growth during the forecast period.
Based on application, the metal cutting segment is projected to generate robust revenue growth, representing more than US$ 1,700 Mn by 2026-end. However, the robotics application segment is projected to reflect a significant CAGR throughout the forecast period.
Major players in the global market of motion control market are YASKAWA Electric Corporation, Fanuc Corporation, Rockwell Automation, Inc, Mitsubishi Electric Corporation, Robert Bosch GmbH, Siemens AG, ABB Ltd Schneider Electric S.E, Moog Inc. and Parker-Hannifin Corp.