Motion Controls Market Worth $18.9bn in 2023
July 26, 2023 – Updated research by global market intelligence firm, Interact Analysis, shows that the motion controls market will return to steady growth following a period of high demand for consumer products in 2021/2022 which boosted investment in automation. In 2022, the market was worth $17.7bn. Although the APAC region is the largest market for motion controls, the Americas will show the highest growth rate in 2023 of 7.4%. Global growth will fall in 2024 but is expected to bounce back in the mid- to long-term.
In 2022, APAC, especially China, remained the largest market for motion controls accounting for 37% of global revenues. EMEA was responsible for 33% of the world market, followed by Japan and Americas, which accounted for 16% and 14% of the market respectively. In 2023, the global motion controls market will be worth $18.9bn. However, Interact Analysis’ research found that while some vendors were optimistic about the pace of growth, anticipating rates as high as 20%, others were more cautious, anticipating a flat year compared to 2022. Globally, the Americas is expected to suffer last from the impending market slowdown, with some of the largest industries for motion controls, such as semiconductors and electronics machinery, performing well due to the uplift from the CHIPS and Science Act.
In the long term, growth for the motion controls market will remain steady, but it is expected to decline in 2024 in line with the next economic downward trend, as predicted by ITR Economics. Interest rates and high inflation will to continue to impact the demand for industrial automation and Japan is set to see the sharpest drop in growth. Between 2022 and 2027 the global motion controls market will grow with a CAGR of 4.6%, increasing from $17.7bn to $22.2bn. Japan will have the strongest recovery overall, with an average growth rate of 6.9% out to 2027.
Alexander Jones, research analyst at Interact Analysis, provides some comment on the motion controls supplier landscape, saying,“Siemens continues to dominate the motion controls market with its market share increasing by almost 1% in 2022. Interestingly, Inovance’s market share increased by 0.6% in the same year – making it now the fifth largest global motion control vendor in the world–in 2018 the company did not even feature in the top 10.”
About the report
The 4th edition of the highly-regarded Interact Analysis market report providing insight and analysis into the motion controls market. The report provides an understanding of market and economic trends driving and restricting growth of motion controls in both general motion control (GMC) and computer numerical control (CNC) applications.
The report is built through extensive primary research and supplier reporting and utilizes data from Interact Analysis’ “Manufacturing Industry Output Tracker (MIO)”–well respected for its credible industry forecasts by country, which inform the forecast for motion controls.
About Interact Analysis
With over 200 years of combined experience, Interact Analysis is the market intelligence authority for global supply chain automation. Our research covers the entire automation value chain–from the technology used to automate factory production, through inventory storage and distribution channels, to the transportation of the finished goods. The world’s leading companies trust us to surface robust insights and opportunities for technology-driven growth.
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