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FOR IMMEDIATE RELEASE: 19th November 2019
Motion Control Market to Exceed $15bn by 2023 – Interact Analysis
New 2019 motion control market report from Interact Analysis reveals
- Despite a short-term dip in 2019, longer term forecasts predict solid growth
- Increased reliance on industrial robotics a significant contributor
- Growth rate to exceed that of global manufacturing production by 2020.
London, UK, 19th November 2019 – Market intelligence firm Interact Analysis has released a new market report – Motion Controls – 2019 – pointing to strong growth over the next four years for motion control products.
Despite a small decline in 2019 (-3.8%) the report outlines how the market for motion control products will grow strongly, ultimately exceeding $15bn in 2023. Also noteworthy is the firm’s belief that the motion control market will outpace growth of global manufacturing production from 2020 onwards. The positive outlook holds true despite the torrid time currently facing machine tool vendors which, as the single largest consumer of motion control products, generated over a third of motion control revenues in 2018.
Interact Analysis points to several sectors which are helping to drive a more positive outlook for motion controls. These include food & beverage machinery, packaging machinery, robotics and material handling equipment, especially equipment for warehouse automation and intralogistics. Together these sectors generated just under a quarter of total motion control revenues in 2018 and are forecast to account for closer to 30% in 2023.
The report outlines further factors strengthening the outlook for motion control demand, including the trend for decentralization. Here higher-protection ratings are helping to advance the market for particular motion products. Although even combined the opportunity is small compared to the total (representing only 2.4% of the global market in 2018), the findings show that revenues for both products are projected to experience higher growth than the rest of the market, driving their combined value to exceed $500m in 2023.
Geographically, six regions – China, USA, Japan, Germany, Italy and South Korea – will continue to dominate market revenues. China, in particular, is expected to add significant revenues over the next four years, making it almost twice as big as the United States. In industry terms, sectors utilising metal cutting tools remain the largest in revenue terms, however the strongest overall growth during the forecast period came from mobile robots and industrial robots, which are the only ones forecast to experience growth in 2019 versus 2018.
Tim Dawson, research director for Interact Analysis and principal analyst of the motion controls report, said: “Although the motion control market may be considered fairly mature there are important trends impacting its future growth helping drive revenues at an above average rate for the long-term. Couple that with product releases from new vendors, plus expanding portfolios from existing ones; and the fundamentals for this industry appear very strong, even despite headwinds in certain key sectors.”
About the Motion Controls Report – 2019
The Motion Controls Report – 2019 considers rotary servo motors, linear and torque motors; servo drives and associated position control hardware. The report’s primary author, Tim Dawson, is a known industry expert, having published multiple studies on this topic over the last two decades. The results of the study represent what is undoubtedly the most extensive set of data produced on the market to date, derived from extensive vendor research, plus a highly complex modelling exercise that takes the output from the vendor research and explodes the data to create an unprecedented level of detail and market data. If you’d like to learn more about the report or have any questions, please contact us at: email@example.com.
About Interact Analysis
Interact Analysis is an international provider of market research for the Intelligent Automation sector. Our team of experienced industry analysts delivers research into three core sectors: industrial automation, robotics and warehouse automation, and commercial vehicles. Intelligent Automation – which is the integration of artificial intelligence and automation – will change virtually every industry imaginable. This combination enables greater efficiencies, productivity, convenience and scale. It has the potential to drastically alter the outlook for many traditional industries such as manufacturing, healthcare and automotive as well as to lead to the emergence of entirely new industries.
To learn more, visit www.interactanalysis.com