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.”
Further reading:
Innomotics showcases efficient motors and drives at Hannover Messe
News & events
Innomotics recently presented its innovations and solutions for a sustainable industry at Hannover Messe 2025. Highlights included a novel Active Vibration Control System, IE6 energy efficiency class motors, and new product partnerships.
Read more...
A racing partnership
SKF South Africa
News & events
In one of motorsport’s most demanding arenas, a partnership forged in engineering precision and high-performance ambition has proven its worth. SKF, a global leader in bearing technology and innovation, celebrated a remarkable milestone in partnership with SVR Toyota GAZOO Racing, taking second position overall at the 2025 Dakar Rally.
Read more...
German Chancellor visits Beckhoff at Hannover Messe
Beckhoff Automation
News & events
As part of the traditional Hannover Messe opening tour, Federal Chancellor of Germany, Olaf Scholz visited German company, Beckhoff Automation. Hans Beckhoff, managing director and owner of Beckhoff Automation, presented his company and its comprehensive expertise in the field of software and AI.
Read more...
Festo 100th Anniversary: Celebrating a century-long legacy of innovation and commitment
Festo
News & events
Festo has officially begun celebrating 100 years of groundbreaking technology, commitment and enduring partnerships. To kick off this historic milestone celebration, their Customer Innovation Day and ThankYou Party series brought together customers, partners and employees to reflect on their journey and look ahead to an exciting future.
Read more...
SANSA Hartebeesthoek provides critical support for lunar mission
News & events
The South African National Space Agency (SANSA) is providing vital tracking, telemetry and command (TT&C) support for Intuitive Machines-2 (IM-2) lunar mission from its Hartebeesthoek ground station.
Read more...
Siemens and Oracle Red Bull Racing celebrate 20 years of innovation
Siemens South Africa
News & events
Siemens Digital Industries Software is celebrating the 20th anniversary of its collaboration with Oracle Red Bull Racing, representing one of the longest standing technical partnerships in Formula 1 today.
Read more...
A new generation of solar professionals
News & events
A new generation of solar professionals is rising in Cape Town. The second cohort of the Solar Youth Project has just completed an intensive eight-week training course and is ready to take on the next stage, 10 months of work experience.
Read more...
From the editor's desk: The new space race
Technews Publishing
News & events
The other day an interesting report captured my attention. Within four days, two different private American companies recently succeeded in landing their spacecraft on the moon. Intuitive Machines landed
...
Read more...
Upskilled workers add value to maintenance teams
News & events
Maintenance costs, which are traditionally grudge expenses for businesses or industrial operations, can be kept to a minimum by ensuring that maintenance crews are properly trained in key aspects of the condition monitoring process. Wearcheck offers a choice of more than 15 courses covering a wide range of topics, from general oil analysis to thermography, transformer maintenance and many other reliability solutions services.
Read more...
BMG powers up at Nampo 2025
Bearing Man Group T/A BMG
News & events
The BMG team was highly prominent at this year’s Nampo agricultural show, held near Bothaville recently. This prestigious event, which is one of the largest agricultural exhibitions in the southern hemisphere, is a highlight for manufacturers and suppliers of farming equipment, as well as for farmers, families and the entire community.
Read more...
printer friendly version