Siemens (Germany) and Mitsubishi Electric Corporation (Japan) are Leading Players in the Motion Control Market
The global motion control market size is expected to grow from USD 15.5 billion in 2022 to USD 20.0 billion by 2027, at a CAGR of 5.2% during the forecasted period. Growing need for high-precision automated processes in manufacturing sector and accelerating utilization of IIoT devices integrated with motion control systems are a few factors driving the market growth.
The motion control market is dominated by the players ABB Ltd. (Switzerland), FANUC Corporation (Japan), Parker Hannifin Corporation (US), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yaskawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Altra Industrial Motion Corp. (US) and Novanta Inc. (US) among others. Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnerships, collaborations, and acquisitions, to increase their competitiveness in the market.
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Siemens (Germany) hold first ranking in global motion control market in 2021. The company is engaged in electrical engineering and electronics manufacturing. The company operates through the following business segments namely Digital Industries, Smart Infrastructure, Siemens Healthineers, Mobility, and Portfolio Companies. Siemens’ motion control solutions combine production efficiency with quality to enable enhanced production optimization, leading to increased productivity and throughput. The recent acquisitions can help the company enhance product quality and safety, as well as improve time to revenue across industries, ranging from automotive and factory automation to high-performance computing. For instance, the acquisition of UltraSoC by Siemens has expanded the Xcelerator portfolio and helped develop data-driven product lifecycle management solutions for system-on-chip (SoC). Additionally, in February 2022, Siemens launched a Simatic Drive Controller for CPUs, which combines a Simatic S7-1500 controller with motion control technology and safety functionality with a Sinamics S120 drive control in one device, thereby saving space.
Mitsubishi Electric Corporation (Japan) hold second ranking in global motion control market in 2021. The company offers motion control solutions under its Industrial Automation Systems business segment, which is the largest revenue-generating segment. Company offers diversified motion controllers which are capable to perform functions such as positioning control, speed control, torque control, tightening and press-fit control, advanced synchronous control, and cam control, among others. The company frequently launches new products to maintain its position in the competitive market. For instance, in January 2022, Mitsubishi Electric Automation, Inc. launched MELSERVO-J5D servo amplifiers, which are used for medium-to-large servo applications that require multiple drive units capable of managing regenerative energy.
The company can also emphasize adopting inorganic growth strategies, such as collaborations and partnerships, to target emerging and rapidly growing markets in Asia Pacific, such as India, China, and South Korea.
Related Reports:
Motion Control Market by Offering (Actuators & Mechanical Systems, Motors, Motion Controllers, Drives, Sensor & Feedback Devices, Software & Services), System (Open-loop, Closed-loop), Industry and Region - Global Forecast to 2027
See Also: CNC Controller Companies
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