New Product Launches, Acquisitions, Expansions, Partnerships, and Agreements were Adopted by the Prominent Players in the Food Automation Market
The key players in the food automation market include Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), ABB Ltd (Switzerland), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), GEA Group (Germany), Fortive Corporation (U.S.), Yaskawa Electric Corporation (Japan), Rexnord Corporation (U.S.), Emerson Electric Co. (U.S.), and Nord Drivesystems (Germany).
Key strategies such as new product launches, acquisitions, expansions, partnerships, and agreements were adopted by the prominent players to expand their global presence and increase their share in the market for food automation. The leading players are focusing on strengthening their R&D capabilities to offer a diversified product portfolios for different sectors of the food & beverage industry, particularly systems such as discrete controllers.
Innovative new product launches, strategic acquisitions, and organic expansions were the core strengths of the leading players of the food automation market; these strategies were adopted by the players to increase their market presence. They helped the players diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Market leaders such as Rockwell Automation, Inc. (U.S.), ABB Ltd (Switzerland), Mitsubishi Electric Corporation (Japan), and Siemens AG (Germany) successfully tapped the potential markets through new product launches, expansions, and acquisitions.
ABB Ltd is one of the leading global manufacturers of power and automation technologies catering to the needs of a broad range of industries one of them being food & beverage. The company operates through four business segments, namely, electrification products, discrete motion and automation, process automation, and power grids. The company’s automation products for the food & beverage sector finds application in conveying, mixing, palletizing, picking, and packing. ABB Ltd is a leading player in the food automation market, with a diversified business portfolio, which helps the company to minimize risk and dependency on any business. It has a wide product portfolio of food automation products. The company focuses on the expansion of its business revenue through organic growth such as expansions and acquisitions. For instance, in April 2017, ABB acquired B&R (Bernecker + Rainer Industrie-Elektronik GmbH) (Austria), a global automation company with a wide product portfolio of automation products such as motors and PLC which caters to the food & beverage industry. The company marks its strong global geographical presence in approximately 100 countries across four regions—Europe, the Americas, Asia, and the Middle East and Africa (MEA).
Mitsubishi Electric Corporation (Japan) is one of the leading companies engaged in the manufacturing and selling of electrical and electronic equipment and systems. The company’s products find application in various sectors such as food & beverage, automotive, pharmaceutical, communication, information technology, aerospace, semiconductor, and energy. The company operates through six business segments, namely, energy & electric systems, industrial automation systems, information & communication systems, electronic devices, home appliances, and others. It offers its food automation products under its broad product line of industrial automation systems. The company has a wide industry coverage in its product offerings, comprising major food automation products and systems. Mitsubishi is a well-established company, with an annual revenue of more than USD 40 billion in 2016. The company has strong financial & operational capabilities, wherein it can focus on new product launches catering to the changing market demands. The company focuses on organic growth strategies such as expansion and in line with this strategy it expanded its operation of factory automation products in May 2017, by opening two factory automation (FA) service facilities in Mexico.
Related Reports:
Food Automation Market by Type (Motor Controls, Discrete controllers & visualization, rotary & linear products), Function (Palletizing, Sorting & Grading, Picking & Placing, Processing), Application (Dairy, Bakery), and Region - Global Forecast to 2022
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