DUBLIN–(BUSINESS WIRE)–The “Motion Control Market by Offering (Actuators & Mechanical Systems, Motors, Motion Controllers, Drives, Sensor & Feedback Devices, Software & Services), System (Open-loop, Closed-loop), Industry and Region (2022-2027)” report has been added to ResearchAndMarkets.com’s offering.
The global motion control market size is expected to grow from USD 15.5 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 5.2% between 2022 and 2027.
A major trend that is supporting the growth of the motion control market is the integration of systems with the Industrial Internet of Things (IIoT). Predictive maintenance is a trend made possible by digitization and the shift toward the IIoT. The manufacturers who rely on heavy equipment uptime can predict the machines that are approaching a failure state and isolate and address those physical assets before they pose a risk to throughput, profits, and employee safety.
For instance, drives can deliver real-time data about changes in torque or voltage, indicating the machine’s lubricant is breaking down or a bearing needs replacement. Due to this degree of advanced warning, machine owners can schedule maintenance and repairs at a time when the equipment is not in use and long before a failure brings production to a standstill.
Closed-loop system is the fastest growing segment during the forecast period
The goal of any electrical or electronic control system is to measure, monitor, and control a process and one way in which the user can accurately control the process is by monitoring its output and feeding some of it back to compare the actual output with the desired output to reduce the error and if disturbed, bring the output of the system back to the original or desired response.
The quantity of the output being measured is called the feedback signal, and the type of control system that uses feedback signals to control and adjust itself is called a closed-loop system. These systems automate the manufacturing processes and thereby, close-loop system has high adoption in various critical industries such as automotive, food & beverages, and metals &machine manufacturing, among others.
Pharmaceuticals and cosmetics is the fastest growing industrial segment of motion control market by 2027
The motion control market for the pharmaceuticals & cosmetics industry is expected to grow at the highest CAGR between 2022 and 2027. Maintaining safety, consistency, and efficiency in manufacturing processes is the basic requirement of the pharmaceuticals industry to ensure that products are of the highest quality. Hence, pharmaceutical companies use motion control solutions to minimize downtime and cost of operations and gain process visibility.
North America is the second fastest growing market for motion control during the forecast period
The motion control market growth in North America is primarily driven by a host of factors, including the rising adoption of advanced technologies in the automotive industry, increasing government spending on the aerospace & defense sector, as well as rapid innovations in the medical devices manufacturing industry. The US is the leading market for motion control products as the major players such as Parker-Hannifin Corporation, Rockwell Automation, Altra Industrial Motion Corp., Dover Motion, and Moog Inc. are based in the country.
Market Dynamics
Drivers
- Surging Adoption of Automation in Manufacturing Facilities to Ensure Employee Health and Safety After Covid Outbreak
- Growing Need for High-Precision Automated Processes in Manufacturing Sector
- Rising Focus of Governments on Enforcing Stringent Measures to Ensure Workplace Safety
- Increasing Demand for Industrial Robots by Manufacturers
- Accelerating Utilization of IIoT Devices Integrated with Motion Control Systems
Restraint
- High Replacement and Maintenance Costs of Motion Control Systems
Opportunities
- Adoption of Industry 4.0 by Manufacturing Firms
- Integration of Motion Control Systems with Programmable Logic Controllers (Plcs) and Human-Machine Interface (Hmi) Software Solutions
- Deployment of Integrated Communications Systems Across Industries
Challenges
- Designing Compact and Low-Cost Motion Control Systems
- Lack of Skilled Workforce in Automation Field
Companies Mentioned
- ABB Ltd.
- Absolute Machine Tools
- Adtech (Shenzhen) Technology Co. Ltd.
- Allied Motion Technologies Inc.
- Altra Industrial Motion Corp.
- Ametek
- Apptronik
- Baumueller
- Delta Electronics
- Dover Motion
- Elmo Motion Control
- Fanuc Corporation
- Galil
- IQ Control
- Mitsubishi Electric Corporation
- Moons’
- Novanta Inc.
- Omron
- Parker Hannifin Corp
- Powertec Industrial Motors Inc.
- Robert Bosch Gmbh
- Rockwell Automation, Inc.
- Siemens
- Yaskawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cjp08h
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