Global motion control market projected to reach $8.2 billion
Driven by a necessitation to automate and global expansion, the $6 billion global GMC market is expected to grow at a rate of 6.7%.
By Staff -- Modern Materials Handling, 10/6/2008
The global market for motion control products is projected to grow at a rate of 6.7% over the next five years, driven largely by economic expansion in manufacturing industries and demand from developing countries, according to an ARC Advisory Group study.
Reaching $6 billion in 2007, the market, which includes programmable logic controllers, microprocessors and vision technology, is expected to grow to over $8.2 billion in 2012, the study says.
The study’s findings include:
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Capital investments for motion control systems are expected to remain strong, with manufacturers challenged to raise productivity, lower costs, reduce expenses and increase return on investment.
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Globalization is pushing manufacturing companies to invest in creating new capacities in various industries, making motion control systems more vital.
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Development, especially the middle class, in Asia, Eastern Europe and Latin America, has created a huge demand for automobiles, resulting in new factories and product demand. Automakers and other manufacturers who set up factories abroad hold their global factories to the same standards as those at home, necessitating much of the same equipment and driving the demand for motion control products.
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