Motion Control Drive Market Surging to US$ 8.4 Billion by 2031 with an Impressive 6.2% CAGR, Reports Transparency Market Research
Increase in demand for automation and robotics in various industries and advancements in technology, such as the integration of IoT and AI, are also boosting market expansion
Wilmington, Delaware, United States, Sept. 04, 2023 (GLOBE NEWSWIRE) — The Global Motion Control Drive Market Expected to Thrive with a 6.2% CAGR from 2023 to 2031. TMR’s Report Foresees a Valuation of US$ 8.4 Billion for the Market in 2031, While the 2023 Figure is Estimated at US$ 5.2 Billion.
Increasing application of automation and Industry 4.0 practices across industries is augmenting the motion control drive market development. The increasing demand for electric vehicles is driving the market demand as motion control drives are used in various stages of EV manufacturing, from assembly to testing.
Motion control drives help to improve energy efficiency by optimizing motor performance and reducing energy consumption, the increasing concern about energy efficiency boosts the market growth
The adoption of automation has led to the integration of motion control drives with various automated systems, such as robotic arms, conveyor belts, CNC machines, and more, as motion control drives play a pivotal role in enabling precise and efficient movement within automated systems.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 4.9 Bn | |
| Estimated Value | US$ 8.4 Bn | |
| Growth Rate – CAGR | 6.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 210 Pages | |
| Market Segmentation | Type, Product Type, Axis, Precision, End-use | |
| Regions Covered | North America,Europe,Asia Pacific,Middle East & Africa,South America | |
| Companies Covered | ABB Ltd.,Advanced Micro Controls, Inc.,Allied Motion, Inc.,Bosch Rexroth,Delta Electronics, Inc.,Emerson Electric Co.,Fuji Electric Co., Ltd.,HIWIN Corporation,Mitsubishi Electric Corporation,Nidec Motor Corporation,OMRON Corporation,Rockwell Automation Inc.,Schneider Electric SE,Siemens AG,Toshiba Corporation,YASKAWA Electric Corporation,Other Key Players | |
Key Findings of the Market Report
- As of 2022, the motion control drive market was valued at US$ 4.9 billion.
- By type, the AC drive segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on product, the servo segment is expected to dominate the sector during the forecast period.
- Based on end-user, the automotive segment is expected to generate high revenue during the forecast period.
Motion Control Drive Market: Key Trends and Opportunistic Frontiers
- Increasing demand for motion control drives various endues industries to drive the market growth during the forecast period.
- The growing e-commerce and logistics industry drives the demand for motion control drives as it help in conveyor systems, sorting machines, and automated warehouses.
- Increasing technological advances and integration of IoT (Internet of Things), AI (Artificial Intelligence), and machine learning, are driving innovation and expanding the range of applications for motion control drives.
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Motion Control Drive Market – Regional Analysis
- Asia Pacific is projected to hold the largest share of the motion control drive market owing to the increasing adoption of automation and robotics across industries, such as manufacturing, automotive, electronics, and logistics, the rapid industrialization is fueling the motion control drive market dynamics of the region.
- North America is expected to account for a significant share of the motion control drive market. The presence of a strong manufacturing sector, the adoption of advanced automation solutions, and the presence of key players in the motion control industry drive the market demand in the region.
Global Motion Control Drive Market: Competitive Landscape
The global industry is still fragmented, with a diversified variety of suppliers and a myriad of potential applications affecting dozens of industries. Major motion control drive manufacturers are focusing on offering new designs and custom-made products to expand their customer base. Transparency Market Research has profiled the following players in its global coffee servers market report:
- ABB Ltd.
- Advanced Micro Controls, Inc.
- Allied Motion, Inc.
- Bosch Rexroth
- Delta Electronics, Inc.
- Emerson Electric Co.
- Fuji Electric Co., Ltd.
- HIWIN Corporation
- Mitsubishi Electric Corporation
- Nidec Motor Corporation
- OMRON Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Toshiba Corporation
- YASKAWA Electric Corporation
- Other Key Players
Key Developments in the Motion Control Drive Market
- Siemens continued to invest in its SINAMICS family of motion control drives, introducing new models with improved energy efficiency and integrated safety features. They expanded their digitalization efforts with the integration of Industrial Internet of Things (IIoT) capabilities in motion control systems, enabling remote monitoring and predictive maintenance.
- ABB focused on enhancing the performance of their motion control drives for various applications, including robotics, machine automation, and material handling. They introduced innovative solutions for collaborative robots (cobots), which require precise motion control for safe human-robot interactions.
- Schneider Electric focused on the integration of motion control drives with their EcoStruxure platform, enabling seamless data exchange and analytics for improved efficiency and reliability. They developed motion control solutions with enhanced safety features, addressing the needs of industries with stringent safety requirements.
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Global Motion Control Drive Market Segmentation
Type
- AC Drive
- DC Drive
Product Type
- Servo Drives
- Stepper Drives
- VFD Drives
Axis
- Single Axis
- Multi-axis
Precision
- Very High Precision
- High Precision
- Standard
End-use
- Semiconductor & Electronics Manufacturing
- Food & Beverage
- Aerospace & Defense
- Automotive
- Paper & Printing
- Pharmaceuticals
- Metals & Machinery Manufacturing
- Others
Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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