Wilmington, Delaware, United States, April 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global motion control drive market is estimated to reach US$ 6.1 Bn by 2031, with a CAGR of 4.2% during the forecast period.
Increase in adoption of motor control drives in production processes in various industries, including oil & gas, food & beverage, automotive, electronics, and semiconductor, is driving the motion control drive market. These production processes use various motor types depending on the application; the most common ones include DC motors, permanent-magnet synchronous motors, AC induction motors, and newer models such as switched-reluctance motors.
Motion control drive is an element of the automation system that steers motors, which are used to power production processes. The motion controller plays a critical role in deciding the operational efficiency of components used in the motion control drive system circuit and, consequently, the entire system.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 4.3 Bn | |
| Estimated Value | USD 6.1 Bn | |
| Growth Rate - CAGR | 4.2% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 185 Pages | |
| Market Segmentation | Type, Type of Axis, Precision, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ABB Ltd., Allied Motion Inc., Fuji Electric Co. Ltd, Lin Engineering, Inc., Mitsubishi Electric Corporation, National Instruments, Inc., Omron Corporation, PICS, INC., Rockwell Automation Inc., Schneider Electric S.E., Siemens AG, STMicroelectronics, Toshiba Corporation, YASKAWA Electric Corporation, Yokogawa Electric Corp. | |
Key Findings of Study
Increase in Need for Safety in Production Processes – Adoption of automation processes can help to increase workplace safety by replacing labor for redundant procedures in a manufacturing facility or factory. Hence, the critical benefits of reducing workplace accidents are anticipated to have a significant impact on motion control drive market demand.
Rise in the number of factory-based accidents necessitates the installation of automation-based devices to enhance worker safety. For instance, as per a report of the Health and Safety Executive, a government agency for workplace health, safety, and welfare in Great Britain, 13 deaths in 2017–2018 were related to contact with moving machinery out of 144 worker fatalities in 2017–2018.
According to statistics from the United States Department of Labor, a total of 5,190 work injuries were recorded in the U.S. in 2021, which was an 8.9% increase from 2020.
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Advantages of Ease of Use and Integration of Drives within Motion Control Systems
Motion control drives help steer the motor to carry out specific actions and to move the load in the machine in a particular direction. Consistent advancements in motion control drives imply that the latest products offer a combined solution of drives included within the controllers.
Integration of motion control drives in an existing motion control system is comparatively easier for an operator due to its simple architecture.
Thus, easy use and the ability to integrate motion control drives within different types of motion control systems used across various end-use industries, including food & beverage, robotics, electronics, and semiconductors, coupled with the growing practice of automation, are estimated to fuel market expansion in the next few years.
High Demand for AC Motion Control Drive Systems – In terms of type, the global motion control drive market has been bifurcated into AC drive and DC drive. The AC drive segment held 67.3% market share in 2022.
The segment is anticipated to expand at a CAGR of 4.5% during the forecast period. Dominance of AC motion control drives can be ascribed to low cost compared to DC drives. Moreover, mechanical traits of AC drives with two converter circuits, which comprise an inverter for DC to AC conversion and a rectifier for AC to DC conversion, help enhance signal conditioning and provide voltage and current to serve all the power requirements of users.
High Precision of Multi-axis to Motion Control Drive – Based on type of axis, the multi-axis segment accounted for 56.86% share of the global market in 2022. Demand for multi-axis motion control drives is high due to their usability in robotics and automation applications. Moreover, significance of multi-axis control drives for accuracy and precision required in the electronics and semiconductor industries propels the segment.
Growth drivers
- Increase in adoption of motor control drives in production processes across end-use industries, including oil & gas, food & beverage, and electronics & semiconductor, is fueling the motion control drive market
- Rise in demand for higher operating efficiencies in some applications, such as fans, pumps, and compressors, is driving the motion control drive market
Regional Landscape
Asia Pacific accounted for 38.22% share of the global motion control drive market in 2022. This is ascribed to presence of large number of end-use industries. Functional requirement of precision and accuracy to control various parts of machines used in diverse manufacturing processes is driving the adoption of motion control drives across various end-use industries.
Furthermore, new entrants across end-use industries in developing countries in Asia Pacific are focusing on automation in their manufacturing plants, which in turn is bolstering motion control market size in the region.
North America is anticipated to witness increased adoption of manufacturing and robotics applications across end-use industries. This is expected to create lucrative opportunities in the motion control drive market in the region in the next few years.
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Competitive Analysis
Competition landscape in the motion control drive market is fragmented, with the presence of a large number of players. Expansion of product portfolio and M&As are the key growth strategies adopted by major players in order to consolidate their position in the motion control drive market.
Prominent players in the motion control drive market include ABB Ltd., Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Siemens AG, and Yokogawa Electric Corp.
The motion control drive market is segmented as follows:
Motion Control Drive Market, by Type
- AC Drive
- DC Drive
Motion Control Drive Market, by Type of Axis
- Multi-axis
- Single-axis
Motion Control Drive Market, by Precision
- Very High Precision
- High Precision
- Standard
Motion Control Drive Market, by End-use Industry
- Electronics & Semiconductor
- Food & Beverage
- Industrial
- Healthcare
- Oil & Gas
- Others
Motion Control Drive Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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