- It will grow at a CAGR of 4.6 per cent during 2021-2026
- During the forecasted period, APAC is predicted to dominate the global market for motion control
The motion control market is projected to reach $ 27690 million by 2026 as per a report by Valuates Reports. It will grow at a CAGR of 4.6 per cent during 2021-2026 and its valaution will be $21190 million in 2020
It added that the major factors factors driving the growth of motion control market size include high adoption of advanced and automated processes in the manufacturing sector, safety-enabled productivity in the industry due to strict safety rules imposed by governments, increased demand for industrial robots in manufacturing processes, ease of use and integration of IIoT. Motion control is considered to be a crucial technical foundation for industrial robots.
It is necessary to measure the location of the object precisely in order to control the system operation. The incraesing demand for industrial robots in the manufacturing sector will help to fuel the demand for the market for motion control. The rising automation also drives the motion control market size by increasing efficiency and return on investment.
Automotive industry is expected to hold the largest motion control market share
The report added, “In order to satisfy the rising need for greater versatility and optimise the overall performance of equipment, Industry 4.0 is expected to fuel the growth of the motion control market size. The Industry 4.0 definition has grown in Europe and has been spread internationally in the manufacturing sector. The advent of Industrial Revolution 4.0 has resulted in the implementation of automated machinery and equipment, enabling plants to work 24/7.”
Based on application, the automotive industry is expected to hold the largest motion control market share. To deliver a stronger, cheaper product in less time, automotive manufacturers are updating systems, integrating inspection and networking capabilities, and taking advantage of integration. It said that global demand for motion control components such as servo drives, controllers, and motors is growing due to increased adoption in the automotive industry to increase the efficiency of the automotive industry’s production processes.
It added North America is expected to hold a considerable motion control market share based on the region due to the developments in global machinery production. During the forecasted period, APAC is predicted to dominate the global market for motion control. Demand for motion control in the area is growing due to rapid urbanization and increased investment in integrating advanced industrial technologies across the manufacturing industry.