Motion Control Components market to experience growth of 5.3% CAGR by 2028 | TMR

Motion Control Components Market: Introduction Transparency Market Research delivers key insights for the motion control components market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of revenue, the global market is projected to expand 1.5 times of current market value, by the end of 2028, owing to increasing … Continue reading Motion Control Components market to experience growth of 5.3% CAGR by 2028 | TMR →

Motion Control Components Market Expected to Grow at 5.3% CAGR by 2028

Motion Control Components Market: Introduction

Transparency Market Research delivers key insights for the motion control components market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of revenue, the global market is projected to expand 1.5 times of current market value, by the end of 2028, owing to increasing demand for automation in the paper, paperboard & related converting industries, about which TMR offers detailed insights and forecasts in the motion control components market report. The research scope is restricted for pulp & paper industry analysis.

Motion control components are mostly preferred for automation purposes in the tissue machine, board machine, and specialty type of paper machines. A paper machine refers to a system consists of various electro-hydraulic and electro-mechanical components, which enhance its efficiency. New technology-based components such as pumps, actuators, servo motors, valves, and other motion controllers help to increase productivity ratio. The demand for high precision and accuracy-based machine components is consistently increasing from several years, attributing to maintain quality and good surface finishing of the paper. The TMR team segmented the analysis of motion control components market based on various factors such as product, application, and demand in end-use industries across five regions. As per the TMR analysis, electro-mechanical motion control components is expected to hold the largest market share and outpacing electro-hydraulic components during the forecast period.

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Rising Consumption of Containerboard Packaging to Boost Demand for Paperboard Machines

Cost, convenience, and environment sustainability are factors that determine the growing demand for containerboard. Containerboard is generally utilized on the basis of its lightweight, solid, sturdy nature when compared to the traditional bundling materials. A prominent factor that drives the demand for containerboard is e-Commerce trade. eCommerce retail sales are expected to continue to grow, owing to convenience and variety it offers to customers. Rising consumption of containerboard is expected to propel the demand for paper & paperboard machines during the forecast period. This has significant impact on the sales of motion control components.

Smart Sensors to Advance Process Controls in Paper & Paperboard Machines

In order to make the papermaking process smooth, various measurements such as consistency, flow, pH, and temperature are fed back in the process control cycle. Smart sensors can be developed and fit in order to advance the process control systems. In the era of industrial automation and control, manufacturers of precision and motion control equipment are thriving to provide their customers with instrumentation that is smarter and can provide data at level of production processes. This can lead to improved production efficiency by enhancing flexibility, quality, and productivity. Smart sensors allow self-monitoring and self-configuration of complex processes in paper & paperboard machines. Thus, smart sensors provide lucrative opportunities for the motion control component manufacturers to target the ever-expanding pulp & paper industry.

COVID-19 Allows Increased Visibility for Motion Control Components Market

COVID-19 has disrupted the supply chain of manufacturing industries, worldwide, impacting the packaging industry as well. The discontinuation of production in multiple regions such as North America, Europe, and Asia, which account for a significant usage of motion control components, has affected the market severely. However, manufactures are witnessing innovation by leveraging technology such as to repurpose production and packaging lines quickly to deal with demands for consumers.

Amid the COVID-19 pandemic, consumers are highly concerned about health and maintaining good hygiene practices. Therefore, to cater to the increasing demand for tissue papers and napkins, sales of fully automatic tissue making and converting machines are rapidly increasing across the globe. Besides this, paper & corrugated converting and packaging industries are also opting for automation in production lines and significantly demanding motion control components.

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Motion Control Components Market: Competition Landscape

The global motion control components market is anticipated to witness tough rivalry among key players. This market includes many established market participants. Besides this, many other local players are entering into this market attributing to significant revenue creation, due to the rising demand for motion control components for paper industries. Some of the key players operating in the global motion control components market are Honeywell International, Siemens AG, ABB Group, Bosch Rexroth USA, Moog Inc., Neles Corporation, KSB SE & Co. KGaA, WEG Industries, SMC Corporation, Emerson Electric Co., Power Jacks Limited., ATOS S.p.A., Tolomatic, Inc., Tasowheel Group Oy, and HAWE Hydraulik SE, among others.

The Tier structure is formulated on the basis of segmental revenue and market share of the company. As per Tier structure, Honeywell International, Siemens AG, ABB Group, and Bosch Rexroth USA are the Tier 1 players in the motion control components Market. Furthermore, Tier 2 players are Neles Corporation, KSB SE & Co. KGaA, WEG Industries, SMC Corporation, Emerson Electric Co., and other major players. Together Tier 1 & Tier 2 companies hold 1/4^th of the global motion control components market share.

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