Machinery production growth fuels recovery of motion controls market
According to the latest statistics from IMS Research the worldwide market for motion controls is predicted to begin a recovery in 2010, with revenues increasing 15.1% over 2009 levels to reach $10.5 billion.
According to the latest statistics from IMS Research (Wellingborough, UK) the worldwide market for motion controls is predicted to begin a recovery in 2010, with revenues increasing 15.1% over 2009 levels to reach $10.5 billion. Data reported by leading motion controls suppliers indicates that the market was the hardest hit industrial automation electronics equipment market with revenues declining by 25% in 2009. However, the market is predicted to recover slowly, to only regain 2008 revenue levels by 2012.
The motion controls market relies heavily on global machinery production, with over 95% of motion control product sales going into machinery markets in 2009. Machinery production declined 18.8% globally in 2009, causing the large declines seen by many motion controls suppliers. As machinery orders began to pick up during the last quarter of 2009 and in the first half of 2010, a gradual recovery is predicted for the motion controls market driven by increased demand for machines in several industries.
The high technology sectors of semiconductor and electronics & electronics assembly equipment are leading the market out of the downturn. Increased demand for semiconductors during the first half of 2010 is driving high growth in the market for semiconductor manufacturing equipment, which declined by over 40% in 2009. Growing populations and increased urbanization is also stimulating the demand for both processed foods and beverages and for medical equipment, stimulating growth for machinery used in these sectors. Growth in the food & beverage and medical industries, as well as increasing personal income and consumer spending is also helping drive the packaging equipment market, resulting in packaging equipment becoming one of the fastest growing vertical markets for motion controls through 2014.
Driven by rapid growth of the Chinese economy, the Asia-Pacific region represents the largest opportunity for growth for motion controls. According to IMS Research analyst Jenalea Howell, “the global recession depressed the Chinese industries with high export content; as exports rise again, the sale of motion control products are once again projected to grow by over 10% per year. Machinery orders in China picked up during the summer of 2010, and machinery production is predicted to grow by 19.2% during all of 2010 in terms of revenues. This is projected to lead to a revenue growth of 16.4% for motion control products.”
SOURCE: IMS Research
Posted by Vision Systems Design