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.”




Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Hydraulic & Automation Warehouse revitalises partnership with KTR Systems
Bosch Rexroth Africa News & events
Hydraulic & Automation Warehouse (HAW) has rejuvenated its relationship with KTR Systems, a leader in drive technology, brake systems, cooling systems, and hydraulic components.

Read more...
Celebrating 65 years: rebuilding and redefining its legacy
Axiom Hydraulics Editor's Choice News & events
Founded in 1959 by Neill Simpson, Axiom Hydraulics has grown into one of South Africa’s elite hydraulic companies. Over the past six and a half decades they’ve weathered many challenges, but none as devastating as the fire of 2023.

Read more...
Eskom Expo International Science Fair honours top young scientists
News & events
Excitement filled the air as the 44th Eskom Expo International Science Fair (ISF) opened its doors, welcoming young scientists with an electrifying line-up of activities, including robotics and coding workshops, and riveting science shows.

Read more...
Bolt and Engineering: Blazing a trail of innovation and excellence
News & events
Bolt and Engineering Distributors is proud to have been the Trailblazer sponsor of the 2024 Southern African Institute of Steel Construction Steel Awards, held in Johannesburg in early October.

Read more...
Young robotics team takes world title
igus News & events
In an inspiring demonstration of innovation and teamwork, Texpand, a young South African robotics team, recently made history by winning the 2024 FIRST Tech Challenge World Championships.

Read more...
Bosch Rexroth Africa announces retirement of COO, Mike Harrison
Bosch Rexroth Africa News & events
Bosch Rexroth Africa would like to announce the retirement of one of its stalwarts. Group chief operating officer, Mike Harrison will retire at the end of the year. His retirement marks the end of a remarkable career spanning 34 years.

Read more...
Selection of two-port valves: an open and shut case
SMC Corporation South Africa News & events
Little consideration is generally given to 2-port valves because they are often perceived as simple devices that only open and close to control downstream fluid supply. Although this is mechanically true, choosing the optimal 2-port valve for your application can make a big difference, saving space, weight and energy consumption.

Read more...
MeerKAT radio telescope array
Editor's Choice News & events
Leading consulting engineering and infrastructure advisory practice, Zutari is continuing its involvement with the world-leading MeerKAT radio telescope array, where it has played a leading role since the project first broke ground.

Read more...
From the editor's desk: The weakest link
Technews Publishing News & events
Lately I’ve been getting an ever-increasing number of articles on cybersecurity in my inbox. It’s easy to put it on the backburner, but there is no doubt that this is a very serious problem that’s not ...

Read more...
SEW-EURODRIVE’s growing local range drives entry into new markets
SEW-EURODRIVE News & events
SEW-EURODRIVE is rolling out an even greater selection of planetary drives as part of its strategy to ‘close the loop’ in its product offerings by expanding into more industry sectors, showcasing new opportunities for industrial gearbox users.

Read more...