News & events


Motion controls market worth $18,9 billion in 2023

Fourth Quarter 2023 News & events

A recent report by market research firm, Interact Analysis forecasts that the motion controls market will return to steady growth following a period of high demand for consumer products in 2021/2022, which boosted investment in automation. In total, the firm anticipates the global motion controls market will be worth $18,9 billion in 2023, a rise from $17,7 billion last year.

In 2022, the report says China led the APAC region, which accounted for 37% of global motion controls revenues, followed by Europe, the Middle East and Africa (EMEA) at 33%, and Japan and the Americas (16% and 14% respectively).

This year, the report projects that while the Asia-Pacific region (APAC) will remain the largest market, the Americas will show the highest growth rate at 7,4% in 2023. Even so, the firm expects global growth of the sector to fall in 2024 but bounce back in the mid- to long-term. Interact Analysis’ research found that while some vendors were optimistic about the pace of growth, anticipating rates as high as 20%, others were more cautious, anticipating a flat year compared to 2022.

Globally, the Americas is expected to suffer least from the impending market slowdown, with some of the largest industries for motion controls, such as semiconductors and electronics machinery, performing well due to the uplift from the US CHIPS and Science Act. The analyst firm foresees a decline in demand for industrial automation in 2024, due in part to interest rates and high inflation. Even so, the firm forecasts that global motion controls market will grow with a CAGR of 4,6% between 2022 and 2027, increasing from $17,7 to $22,2 billion.

“Siemens continues to dominate the motion controls market with its market share increasing by almost 1% in 2022,” said Alexander Jones, research analyst at Interact Analysis. “Interestingly, Inovance’s market share increased by 0,6% in the same year, making it now the fifth-largest global motion control vendor in the world. In 2018, the company did not even feature in the top 10.”

For more information visit www.interactanalysis.com




Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

WEG partners with Panaco in the DRC
Zest WEG Group Africa Editor's Choice News & events
The strengthened presence of WEG in the Democratic Republic of Congo (DRC), through its strategic alliance with ts value-added reseller (VAR) Panaco, has proved to be highly successful.

Read more...
Execution of the massive Azmet Reactor project DRC
Editor's Choice News & events
The Azmet Reactor project, a collaborative effort led by Viva Engineering, involved fabricating six massive reactors that were over three stories high in Gauteng, and then transporting these more than 2500 kilometres to a mine in the DRC - where all 3265 parts fitted perfectly, with not even one of the 26 900 bolts out of place. This was a massive achievement.

Read more...
From the editor's desk: The unhuman truth
Technews Publishing News & events
It‘s early in the year, and it‘s fun to see what the predictions are for 2024 in the industrial world. One thing for sure is that generative AI will be big. Among all the hype, an over-the-top app that ...

Read more...
SAFPA: From the President's desk
SA Fluid Power Association (SAFPA) News & events
Reflecting back on 2023, it was a busy year for the SAFPA committee.

Read more...
SAFPA: Technical evening
News & events
At a recent technical evening, SAFPA committee member, Russell Gill from Engineering & Hydraulic Services gave an interesting introduction to the field of fluid power.

Read more...
SAFPA: Soccer day
SA Fluid Power Association (SAFPA) News & events
The 2023 SAFPA six-a-side soccer tournament was a huge success.

Read more...
Young scientist invited to Nobel science seminar in Sweden
News & events
Crawford student, Brandon de Greef embarked on an extraordinary journey last December, with a once in a lifetime opportunity to participate in the Stockholm International Youth Science Seminar during Nobel Week.

Read more...
ABB and Gravitricity to collaborate on energy storage systems
News & events
ABB has signed an agreement with UK-based gravity energy storage firm Gravitricity to explore how hoist expertise and technologies can accelerate the development and implementation of gravity energy storage systems in former mines.

Read more...
I-MAK shifts gear with successful roadshow
Bearings International News & events
In a strategic move to fortify its presence in South Africa, I-MAK, a premium brand under the umbrella of Bearings International (BI), recently embarked on a very successful countrywide roadshow.

Read more...
Bosch Rexroth Africa showcases mining solutions at Mining Indaba
News & events
At the recent Investing in African Mining Indaba 2024, Bosch Rexroth Africa, a leader in hydraulics, pneumatics and automation, bolstered its presence and showcased its innovative solutions for the mining industry.

Read more...