The motion control drive global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Motion Control Drive Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The motion control drives market size has grown strongly in recent years. It will grow from $6.48 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increase in demand for compact drives, proliferation of fulfillment center, increased emphasis on improved production quality and accuracy, rise of industry 4.0 initiatives, rise in demand for smart factories.
The motion control drives market size is expected to see strong growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rise in adoption of automation across industries, increasing demand of robots, growing logistics industry, growing e-commerce, rise of the internet of things (IoT). Major trends in the forecast period include innovative technologies, integration of IoT, , growing focus on energy efficiency, use of cloud-based motion, integration of AI.
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Scope Of Motion Control Drive Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Motion Control Drive Market Overview
Market Drivers –
The rise in the adoption of automation in manufacturing is expected to propel the growth of the motion control drive market going forward. Automation is using technology, machines, or systems to perform tasks with minimal human intervention. It involves the application of technology to monitor and control processes, reducing the need for constant human control and enhancing efficiency, precision, and consistency. The rise in the adoption of automation in manufacturing is due to the increasing need for efficiency, productivity, and quality control, the growing demand for customized products, and the need to address labor shortages and supply chain disruptions. Motion control drives are essential components in the automation of manufacturing processes that enhance precision, efficiency, flexibility, and safety, contributing to improved productivity, lower costs, and higher quality in manufacturing operations. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022, totaling 41,624 units. Therefore, the rise in the adoption of automation in manufacturing drives the motion control market.
Market Trends –
Major companies operating in the motion control drive market are focusing on developing innovative products such as distributed servo to meet the increasing demand for precision, efficiency, and flexibility in automation across diverse industries. A distributed servo drive is a motion control system in which the servo drive electronics are located close to or integrated with the servo motor rather than centralized in a control cabinet. For instance, in July 2023, Rockwell Automation, a US-based company that manufactures motion control drives, launched the ArmorKinetix Distributed Servo Drive, distributed servo drive. It is a compact, on-machine form factor that enables production machines to become more efficient, flexible, and cost-effective. The drive offers advanced analytics, improved installations, and integrated safety features, making it an attractive solution for manufacturers seeking to reduce costs and improve productivity.
The motion control drive market covered in this report is segmented –
1) By Type: AC Drives, DC Drives, Servo Drives, Other Types
2) By Precision: Very High Precision, High Precision, Standard
3) By End-User: Semiconductor And Electronics Manufacturing, Food And Beverage, Aerospace And Defense, Automotive, Paper And Printing, Pharmaceuticals, Metals And Machinery Manufacturing, Other End-Users
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Regional Insights –
North America was the largest region in the motion control drive market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the motion control drive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the motion control drive market are Robert Bosch GmbH, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Fuji Electric Co. Ltd., Nidec Motor Corporation, Parker Hannifin Corp, MOVENSYS Inc., Emerson Electric Co, Delta Electronics Inc., Danfoss Inc., Rockwell Automation Inc., Advanced Micro Controls Inc., OMRON Corporation, Keyence Corporation, Fanuc Corporation, HIWIN Corporation, Regal Rexnord Corporation, SEW-EURODRIVE, YASKAWA Electric Corporation, Moog Inc., Altra Industrial Motion Corp., Kollmorgen, Sanyo Denki Co. Ltd., Harmonic Drive Systems, Allied Motion Inc., Technosoft Motion, Beckhoff Automation
Table of Contents
1. Executive Summary
2. Motion Control Drive Market Report Structure
3. Motion Control Drive Market Trends And Strategies
4. Motion Control Drive Market – Macro Economic Scenario
5. Motion Control Drive Market Size And Growth
…..
32. Global Motion Control Drive Market Competitive Benchmarking
33. Global Motion Control Drive Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Motion Control Drive Market
35. Motion Control Drive Market Future Outlook and Potential Analysis
36. Appendix
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