Introduction: Motion control products are used in all industries that require precise, controlled motion. This diversity means that while many industries currently face an uncertain future, our mid- to long-term forecast for the motion control market remains relatively optimistic, with sales projected to be $19 billion in 2026, up from $14.5 billion in 2021 .
The motion control market is expected to grow at an average annual rate of 5.5% by 2026.
Motion control products are used in all industries that require precise, controlled motion. This diversity means that while many industries currently face an uncertain future, our mid- to long-term forecast for the motion control market remains relatively optimistic, with sales projected to be $19 billion in 2026, up from $14.5 billion in 2021 .
Major factors affecting growth
The COVID-19 pandemic has had both positive and negative impacts on the motion control market. On the positive side, Asia Pacific saw immediate growth as many suppliers in the region saw a significant expansion of the market, with a surge in demand for the production of pandemic products such as personal protective equipment and ventilators. The long-term positive is increased awareness of the need for more automation in factories and warehouses to deal with future pandemics and address labor shortages.
On the downside, short-term growth was stifled by factory closures and social distancing measures at the height of the pandemic. Additionally, suppliers find themselves focusing on production rather than R&D, which could hinder future growth. Digitization – The drivers of Industry 4.0 and the Internet of Things will continue to drive sales of motion control, and the sustainability agenda will also drive new energy industries such as wind turbines and lithium-ion batteries as new markets for motion control products.
So there’s a lot to be optimistic about, but let’s not forget the two big issues that many industries are grappling with right now – supply issues and inflation. Shortages of semiconductors have slowed drive production, and shortages of rare earths and raw materials have impacted motor production. At the same time, transportation costs are spiraling, and strong inflation will almost certainly cause people to seriously consider investing in automated products.
Asia Pacific leads the way
The relatively poor performance of the motion control market in 2020 led to mutual pressure in 2021, which inflated the growth figures for the year. The post-pandemic rebound means total revenue will grow from $11.9 billion in 2020 to $14.5 billion in 2021, a market growth of 21.6% year over year. Asia Pacific, especially China with its large manufacturing and machinery production sectors, was the main driver of this growth, accounting for 36% ($5.17 billion) of global revenue, and unsurprisingly, this region recorded the highest growth rate of 27.4% %.
Companies in the Asia-Pacific region appear to be better equipped to deal with supply chain issues than their peers in other regions. But EMEA was not far behind, generating $4.47 billion in motion control revenue, or 31% of the global market. The smallest region is Japan, with sales of $2.16 billion, or 15% of the global market. In terms of product type,Servo motors lead the way with revenue of $6.51 billion in 2021. Servo drives accounted for the second largest market segment, generating $5.53 billion in revenue.
Sales expected to reach $19 billion in 2026; up from $14.5 billion in 2021
So where does the motion control market go? Obviously, we cannot expect the high growth in 2021 to continue, but fears of over-ordering in 2021 leading to cancellations in 2022 have so far not materialized, with a respectable 8-11% growth expected in 2022 . However, the slowdown starts in 2023 as the overall outlook for manufacturing and machinery production declines. However, in the long-term scenario from 2021 to 2026, the total global market will still increase from $14.5 billion to $19 billion, representing a global compound annual growth rate of 5.5%.
The motion control market in Asia Pacific will continue to be the key driver with a CAGR of 6.6% over the forecast period. The market size in China is expected to grow from $3.88 billion in 2021 to $5.33 billion in 2026, an increase of 37%. However, recent events have created some uncertainty in China. China performed well in the early days of the pandemic, with exports of movement-control products rising due to increased demand in countries whose production has been disrupted by the virus. But the region’s current zero-tolerance policy on the virus means lockdowns in major port cities such as Shanghai could still hamper the local and global movement control market. The possibility of further lockdowns in China in the near future may be the biggest uncertainty currently facing the movement control market.
Post time: Sep-30-2022