CHICAGO, May 26, 2022 /PRNewswire/ -- According to the report "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 - Global Forecast to 2027", published by MarketsandMarkets™, the 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. The growth of this market is driven mainly by surging adoption of automation in manufacturing facilities to ensure employee health and safety after the COVID-19 outbreak, the growing need for high-precision automated processes in manufacturing sector, and rising focus of governments on enforcing stringent measures to ensure workplace safety.
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The motion control market includes major Tier I suppliers like ABB, FANUC, Siemens, Rockwell, Mitsubishi Electric, and Yaskawa. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and Rest of the World. COVID-19 has impacted their businesses as well, as multiple manufacturing facilities of players have shut down due to COVID-19 in 2020. According to the industry experts manufacturers are gradually realizing the importance of motion control more than ever. Additionally, a few technologies such as the Internet of Things (IoT), Artificial intelligence (AI), and machine learning (ML) are in high demand as they are essential for smooth functioning and help automate processes in manufacturing facilities.
Motors is expected to hold the largest market share of motion control market during the forecasted period due to growing demand of industrial automation in manufacturing industry
Motors are key components of motion control systems. With the rise in industrial automation, manufacturers have been emphasizing using energy-efficient motors. Energy-efficient motors offer various enhancements over standard motors in terms of parameters such as winding, quality of laminations, and others, which significantly reduce operating costs. Motors find a wide range of applications in industries such as semiconductor & electronics, food processing, petrochemicals, pharmaceuticals, healthcare, packaging, and paper & printing.
Motion control market for closed-loop system is estimated to be the fastest growing market during forecasted period
A closed-loop control system also known as feedback system, looks at the current output and alters it to the desired condition. the control action in these systems is based on the output. The adoption of closed-loop systems is high as the process is automated, and the error is reduced without human intervention. The closed-loop system can automatically adjust the systems' inputs, improve the stability of a system, reduce system sensitivity, increase robustness, and create a reliable system. Due to these factors, there is a surge in the adoption of a closed-loop systems.
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Automotive industry is expected to hold the major share of the motion control market during the forecast period
Closed-loop systems are designed to automatically achieve and maintain the desired output condition by comparing it with the actual condition. They do this by generating an error signal that is the difference between the output and the reference input. The closed-loop system can automatically adjust the systems' inputs, improve the systems stability, reduce system sensitivity, increase robustness, and create a reliable system without human intervention. Due to these factors, the adoption of the closed-loop system is increasing. In April 2022, Optimal Engineering Systems, Inc. (OES) launched a Figaro series of motion control systems with closed-loop configuration. To provide a closed-loop motion control system, this series can be configured with any combination of drivers for steppers, DC servo motors, and BLDC motors.
Asia Pacific is likely to be emerge as the fastest growing region during forecasted period
Asia Pacific is expected to be the fastest growing region in the global motion control market during the forecast period. The increase in urbanization and industrialization are surging the demand for motion control in the region. Additionally, the growth in Asia Pacific region is due to the rising adoption of automation technologies, such as robots, across several industries, increasing production of machine tools, and surging use of smartphones and automobiles, which require motion control systems to assemble electronics and semiconductor machinery.
ABB Ltd. (Switzerland), FANUC Corporation (Japan), Parker Hannifin Corporation (US), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Altra Industrial Motion Corp. (US) and Novanta Inc. (US) are few major players in the motion control market.
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