Market Insight

Asia Pacific takes the lead in driving the growth of the global motion control hardware market

July 19, 2018

Preston Reine Preston Reine Manager, Motors & Motor Driven Equipment
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The global motion control hardware market achieved a record-high growth rate of 19% in revenue terms from 2016 to 2017, totaling $13.4 billion for the year. The record growth was largely due to a global economic upturn and increasing machinery production investments, which triggered substantial demand for motion controls, in particular robotics, electronics assembly, semiconductors, machine tools, and renewable energy.

  • Fueled by robust investment for robots, semiconductor, and electronics, on a regional level Asia Pacific (excluding Japan) experienced the highest growth rate within the global motion control market (including software and services) in 2017 at 30% in revenue terms to reach $5 billion, which comprised an estimated 35% of global revenues. Thanks to the strong machinery demand from the domestic and Asia-Pacific market, the Japanese motion control market grew 21% year over year in 2017, totaling $2.3 billion in revenues. Motion control revenues in EMEA (Europe, the Middle East and Africa) and the Americas also rose by 10.7% and 10.3% and totaled $4.9 billion and $2.1 billion, respectively, in 2017. The figure below highlights the motion control market revenues in 2017:  

      

  • By industry sector, the performance of the motion control market strongly correlated with global machinery production. Machine tools remained the largest industry sector for motion controls, in particular CNC products; it comprised 38% of total revenues with $5.1 billion in 2017. Packaging and labeling machinery was the largest industry sector for GMC products, accounting for 14% of total GMC revenues at over $1.2 billion. Due to strong growth in recent years, robotics became the third largest market for motion controls in 2017; additionally, motion control sales in this sector are predicted to grow the fastest, at a compound annual growth rate (CAGR) of 16.7% over from 2018 to 2022, which will make robotics the second-largest industry sector market by 2022.
  • In terms of market landscape, Japanese suppliers (including Mitsubishi Electric, Yaskawa, Omron, and Panasonic) gained market share in 2017, benefitting from increased demand for electronics and semiconductor, particularly in Asia Pacific. Overall, market competition will further intensify among regional and global market players across all regions.

IHS Markit predicts the world market for motion control hardware to sustain steady growth through 2022, with Asia Pacific taking the lead in that year and totaling $19 billion in revenues alongside a revenue CAGR of 7.1% over that time period. Driven by increasing machinery production and automation product upgrades, the Asia-Pacific market (excluding Japan) for motion controls is predicted to grow at a revenue CAGR of 9.4%, exceeding $7.8 billion in revenues in 2022.

Research by Market
Manufacturing Technology
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