Servos control motion market growth
Rapidly growing servo products sector accounts for 80% of the total motion-control market.
Wellingborough, UK — IMS Research estimates that the global market for general purpose motion controls increased by over $480 million between 2006 and 2007, reaching an estimated value of $6.2 billion. While this growth is considerably less than 13.4% in 2006, it remains significantly higher than that of general industry. This is due mainly to the rapidly increasing market for servo products, which currently accounts for 80% of the total motion control market.
The growth of the Asia Pacific market for servo products remains primarily dictated by the growth of industry, particularly in developing regions such as China and India. However, the Western markets of EMEA and Americas are also impacted by the spread of high functionality servo products into mid-range and low-end applications.”
Increasing levels of factory automation have provided a major growth stimulus for the European and American motion control market over the last few years. However, more recently three key criteria have accelerated the uptake of these products into industrial machinery.
Firstly, the marketing of “user friendly” servo products, built for very specific applications, has led to a wide-spread perception that these products are easier to install and tune. This has broadened the potential market to include machine builders with limited experience of servo drives programming.
Secondly, the elimination of unnecessary functionality in products tailored for specific applications has been reflected in the prices. Since 2003 prices have fallen by up to 30% in some regions, increasing the feasibility of the servo solution.
Thirdly, increasing competition has encouraged many indigenous machine builders to make the transition from alternative technologies to customised servo products as a means of distinguishing their machinery as higher quality. These three criteria continue to help servo technology penetrate a wider variety of applications outside of the traditional high-end industries, and will remain one of the most significant contributor to the forecast 8.3% CAGR of the motion control market to 2012.
Also read: " Servo Motors Speed Up ."
— Rob Carter , analyst, IMS Research
Edited by C.G. Masi , senior editor, Control Engineering Machine Control eNewsletter
Register here and scroll down to select your choice of eNewsletters free .
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey