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iCrowdNewswire Jan 5, 2021 9:41 AM ET

Motion Control Market 2021 Trends, Competitive Landscape, Future Plans and Potential of the Industry by 2023


Motion Control Market 2021 Trends, Competitive Landscape, Future Plans and Potential of the Industry by 2023

iCrowd Newswire - Jan 5, 2021

Market Research Future published a research report on “Motion Control Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Global Motion Control Market – Overview

Upsurge in the demand for automation in various areas of daily life have pushed the development of the motion control market to new heights. Market reports linked to the semiconductors & electronics sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to expand with a CAGR of 6 percent approximately while achieving revenues worth US $22 billion in the forecast period.

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The upsurge in the concentration levels of automation in sectors such as commercial and manufacturing areas have led to the expansion of this sector. High levels of quality and flexibility achieved by the products related to motion control have created new scopes for the development of the market. Intensifying investment levels and growing number of production facilities have paved the way for a significantly robust growth phase of the industry in the forecast period.

Industry Segments

The Motion Control Market globally has been segmented into the segments of components, technology, application and industry. By components, the market has been segmented into controller, drives, motors, and software among others. On the basis of technology, the market comprises of hydraulic, pneumatic and electromechanical actuation. The application segment of motion control comprises of material handling, inspection and packaging among others while the industry segment contains Healthcare, Aerospace & Defense, Automotive, Manufacturing, Oil & Gas, and Robotics among others.

Key Players

The key players in the market of motion control are- ABB Group (Switzerland), Rockwell Automation, Inc., (U.S.), Parker Hannifin Corporation (U.S.), Siemens AG (Germany), STMicroelectronics N.V. (Switzerland), Motion Control Corporation (U.S.), Schneider Electric (France), Trio Motion (U.S.), Emerson Electric (U.S.), AMETEK, Inc. (U.S.), Aerotech Inc. (U.S.) among others.

Global Competitive Analysis

Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available.  This particular trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has benefitted the market competitors tremendously in this industry.

Regional Analysis

The Asia-Pacific region is controlling the Motion Control industry owing to the strong incidence of manufacturing companies in Japan, China and South Korea. The growing economy of Asian nations is also playing a major role in the growth of the motion control industry. The European region is the second biggest market followed by the North American market. The North America motion control industry is primarily fuelled by the factors such as the growing healthcare industry and high consumption of electronic equipment.

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Keywords:    Motion Control, Motion Control Market, Motion Control Market Size, Motion Control Market Share, Motion Control Industry, Market Research Future, Motion Control Market Growth, Motion Control Market Analysis, Motion Control Market Demand, Motion Control Market Forecast

Tags:    Reportedtimes, Research Newswire, English