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Growing Demand for Machine Control System Market


iCrowdNewswire   Nov 13, 2020  11:00 AM ET

The global machine control system market size was valued at USD 4.1 billion in 2020 and is projected to reach USD 5.6 billion by 2025; it is expected to grow at a CAGR of 6.3% from 2020 to 2025. The growth of the machine control system industry is majorly driven by the elimination of the need for bulk earthworks set out and survey pegging using machine control systems and the need for faster work and more efficiency during tighter timelines.

COVID-19 impact on the machine control system market

COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The dynamics upon which various industries used to operate are set to change drastically. As the world continues to fight this crisis, multiple industries continue to experience a constant decline. With an increasing number of countries imposing and extending lockdowns, economic activities are likely to drop further, which will, in turn, impact the global economy.

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GNSS is expected to grow at the highest CAGR during the forecast period

GNSS, used with various other construction equipment, such as dozers, excavators, and scrapers, significantly helps in efficient surveying and positioning in harsh environments. These systems are largely preferred in a variety of applications, including construction sites, mining plants, or infrastructure projects, due to their high point machine guidance.

Exacavators are expected to account for the largest share of market during the forecast period

Excavators usually have a control system mounted on them to enhance flexibility, accuracy, and efficiency at the construction site. Companies such as Trimble Inc. (US) and Hexagon (Switzerland) offer excavators installed with 2D and 3D control systems or grade control systems. Advanced 3D guidance systems equipped with GNSS technology guide operators with design information and real-time cut/fill indications are displayed on the control panel. This increases productivity and flexibility while reducing excavation costs and rework time. The market for excavators is largely driven by advantages such as being faster, more precise, and more efficient excavation equipment compared to other equipment types.

The machine control system market in APAC is projected to grow at the highest CAGR during the forecast period

APAC is likely to be the fastest-growing region in the market. The dominance of the market is attributed to the increasing infrastructure, commercial, and industrial projects in emerging countries such as China, Japan, India, and South Korea. The aging infrastructure of these countries, such as bridges, roads, sewage systems, and tunnels, are being constantly modified and worked upon with the help of various machine control equipment, such as excavators, scrapers, paving systems, and dozers. However, the market in APAC is expected to see a dip owing to the halt of both ongoing as well as new infrastructure and construction projects due to COVID-19. With the operations gradually resuming, the demand for machine control systems used in such projects may increase with time in the coming years, along with an economic recovery.

Key Market Players

The machine control system players have implemented various types of organic as well as inorganic growth strategies, such as product launches, product developments, partnerships and, collaborations, to strengthen their offerings in the market. The major players are Topcon (Japan), Trimble (US), Hexagon (Sweden), MOBA Mobile Automation (Germany), Hemisphere GNSS (US), Komatsu Ltd. (Japan), Caterpillar (US), Volvo Construction Equipment (Sweden), and Eos Positioning Systems (US).



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Keywords:    Machine Control System Market, Machine Control System Market Size, Machine Control System Market Share, Machine Control System Market Trends, Machine Control System Market Analysis, Machine Control System Market Forecast

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