Overview and Scope
A motion control drive is an electronic device used to control the movement of machinery or mechanical systems with high precision and accuracy. It manages and regulates the operation of motors responsible for movement in various applications such as robotics, conveyor systems, CNC machines, and automated manufacturing processes. The primary functions of a motion control drive include precise control of the motor’s speed, position, and torque to achieve desired movement outcomes.
Sizing and Forecast
The motion control drives market size has grown strongly in recent years. It will grow from $6.48 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increase in demand for compact drives, proliferation of fulfillment center, increased emphasis on improved production quality and accuracy, rise of industry 4.0 initiatives, rise in demand for smart factories.
The motion control drives market size is expected to see strong growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rise in adoption of automation across industries, increasing demand of robots, growing logistics industry, growing e-commerce, rise of the internet of things (IoT). Major trends in the forecast period include innovative technologies, integration of IoT, , growing focus on energy efficiency, use of cloud-based motion, integration of AI.
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Segmentation & Regional Insights
The motion control drive market covered in this report is segmented –
1) By Type: AC Drives, DC Drives, Servo Drives, Other Types
2) By Precision: Very High Precision, High Precision, Standard
3) By End-User: Semiconductor And Electronics Manufacturing, Food And Beverage, Aerospace And Defense, Automotive, Paper And Printing, Pharmaceuticals, Metals And Machinery Manufacturing, Other End-Users
North America was the largest region in the motion control drive market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the motion control drive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the adoption of automation in manufacturing is expected to propel the growth of the motion control drive market going forward. Automation is using technology, machines, or systems to perform tasks with minimal human intervention. It involves the application of technology to monitor and control processes, reducing the need for constant human control and enhancing efficiency, precision, and consistency. The rise in the adoption of automation in manufacturing is due to the increasing need for efficiency, productivity, and quality control, the growing demand for customized products, and the need to address labor shortages and supply chain disruptions. Motion control drives are essential components in the automation of manufacturing processes that enhance precision, efficiency, flexibility, and safety, contributing to improved productivity, lower costs, and higher quality in manufacturing operations. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022, totaling 41,624 units. Therefore, the rise in the adoption of automation in manufacturing drives the motion control market.
Key Industry Players
Major companies operating in the motion control drive market are Robert Bosch GmbH, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Fuji Electric Co. Ltd., Nidec Motor Corporation, Parker Hannifin Corp, MOVENSYS Inc., Emerson Electric Co, Delta Electronics Inc., Danfoss Inc., Rockwell Automation Inc., Advanced Micro Controls Inc., OMRON Corporation, Keyence Corporation, Fanuc Corporation, HIWIN Corporation, Regal Rexnord Corporation, SEW-EURODRIVE, YASKAWA Electric Corporation, Moog Inc., Altra Industrial Motion Corp., Kollmorgen, Sanyo Denki Co. Ltd., Harmonic Drive Systems, Allied Motion Inc., Technosoft Motion, Beckhoff Automation
The motion control drive market report table of contents includes:
1. Executive Summary
2. Motion Control Drive Market Characteristics
3. Motion Control Drive Market Trends And Strategies
4. Motion Control Drive Market – Macro Economic Scenario
5. Global Motion Control Drive Market Size and Growth
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32. Global Motion Control Drive Market Competitive Benchmarking
33. Global Motion Control Drive Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Motion Control Drive Market
35. Motion Control Drive Market Future Outlook and Potential Analysis
36. Appendix
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