Global motion control market grows more than 20% in 2021
The global market growth in motion controls jumped more than 20% in 2021 and is expected to have slower, but still strong, growth through 2026.
Motion Control Insights
- The motion control market is experiencing strong growth, particularly in Asia-Pacific, as a mix of strong demand and supply chain constraints are giving suppliers a lot of leverage when it comes to prices.
- The global motion control market grew more than 20% in 2021, which indicates a strong rebound from COVID-19 and Interact Analysis projects solid growth of 5.5% to 2026.
- Labor shortages remain a problem for motion control vendors, but this is a common lament for many in the manufacturing and engineering markets. It may have an impact on growth, but more from a supply side.
Interact Analysis research indicates strong the 21.6% global market growth in the motion controls market will continue in 2022 with a projected growth of 9.1%. This growth will continue out to 2026, but at a slower pace with a compound annual growth rate (CAGR) of 5.5%. Meanwhile, global supply chain shortages, particularly issues in the semiconductor market and raw material costs, have resulted in major price increases from motion control suppliers. This is in line with a previous report indicating the motion control market would have a strong 2021.
The largest machinery market for motion controls in 2021 was metal cutting machine tools, while the sector set to post the strongest growth in demand for motion controls out to 2026 is mobile robots, with a CAGR of 52%. From a regional perspective, Asia-Pacific (APAC) had the fastest growth rate in 2021, with 24.7%, resulting in a market worth $5.17 billion. China alone accounted for 36% of global motion control revenues in 2021 and, by 2026, China is predicted to hit $5.33 billion, which is more than the entire APAC market in 2021. The lowest growth region in 2021 was Japan with motion control sales reaching $2.16 billion. EMEA fell in the middle, accounting for 31% of global revenues in 2021, while the Americas reported a sales revenue of around $3 billion.
In line with the growth outlook, motion control suppliers in the APAC regions have performed better than those in the EMEA and Americas regions. The top 10 suppliers retained a combined market share of 65% in 2021. As a result of supply chain constraints and rising raw material costs, the average selling price of motion controls increased by 4.6% in APAC regions in 2021. In the EMEA and Americas regions, average selling prices rose by 6% and 7% respectively. Rising prices will continue throughout 2022.
Tim Dawson, senior research director at Interact Analysis, said, “COVID-19 has had and will have both positive and negative effects on the motion controls market. In 2020/2021, the pandemic created significant demand for automation which significantly boosted the outlook for the manufacturing industry. On the other hand, the pandemic hampered the short-term growth of the motion controls market due to workplace closures and restrictions, as well as supply chain issues. To meet demand, suppliers were forced to focus on production rather than R&D. This will have a knock-on effect on future growth. Labor shortages have in particular been a double-edged sword for motion control vendors. On the one hand, labor shortages have created a need for automation products, on the other, they have left automation vendors themselves struggling to meet demand due to a shortage of skilled staff.”
– Edited from an Interact Analysis press release by CFE Media and Technology. Interact Analysis is a CFE Media and Technology content partner.