Manufacturing growth is expected to be slight in 2024 due to economic concerns with inflation, but there are positive signs for the future.
The ultra-low voltage motors market is expected to be worth $6.5 billion by 2027 and growing more than 12% during that period as demand, particularly for robot applications, increases.
The semiconductor industry is experiencing a downgrade with production declining, but orders are filling according to Interact Analysis.
The global motion controls market is expected to be worth almost $19 billion in 2023 and reach $22 billion by 2027.
Interact Analysis reported the industrial robot component market will be worth $18 billion by 2027 with Japan and China being the largest markets.
Interact Analysis reports robot revenues and industry growth will remain steady over the next five years thanks to high demand, particularly for robots in the electric vehicle (EV) market.
The robotic picking market, which is still in the early stages of growth and development, is expected to grow to an almost $7 billion industry by 2030.
Interact Analysis research shows mobile robot components are expected to rapidly grow to 2027 due to a high demand for order fulfillment robots.
The collaborative robot market will enjoy modest growth out to 2032, with annual growth rates sitting at around 20%.
Interact Analysis research reported global ultra-LV drives market are worth $753 million in 2021. AMR/AGV account for 11% of total market revenues in 2022.