The market for motion control has been witnessing significant growth over the forecast period owing to the rising adoption of industrial robots in the manufacturing industry and increasing awareness of advanced and automated processes for factory components. Several local, regional, and global players in the motion control market continuously strive to gain a significant share of the overall market. During the study, Wantstats has analyzed some of the major players in the global motion control market who have contributed to the market growth. These include ABB Group, Siemens AG, Emerson Electric Co, Schneider Electric, Rockwell Automation Inc, Parker Hannifin Corporation, STM Microelectronics, MKS Instruments Inc., Motion Control Corporation, Estun Automation Co., Ltd, AMETEK Advanced Motion Solutions, Powertec Industrial Motors Inc, Dover Motion, Omron, and Delta Electronics.
ABB Group, Siemens AG, Rockwell Automation Inc., Schneider Electric, and Parker Hannifin Corporation are the top 5 players in the Global Motion Control market. These players focus on expanding and enhancing their product portfolios and services to remain competitive and increase their customer base. Also, these players are focusing on partnerships & collaborations to grow their business and customer base to enhance their market position.
ABB focus on creating superior value for all the stakeholders. The company also focuses on enhancing its product portfolio and capacity to support the customers in designing, developing, and deploying infrastructure solutions. It emphasizes the expansion of high-value-added services and solutions for the growth of the business. ABB strategically addresses fast-growing segments such as microgrids and food & beverages, which helps the company increase its market share and focus on new growth opportunities.
Siemens AG is continuously expanding its product portfolio with significant investments in R&D. The company is focused on enhancing its service offerings and expanding its global presence through mergers & acquisitions to strengthen its expertise in technology. These strategic acquisitions also help Siemens expand its presence in the competitive market. Currently, the company is aiming to expand its business in China.
Rockwell Automation aims to increase its sales with the help of organic and inorganic strategies. The company emphasizes expanding its product portfolio and marketing its services to obtain a competitive advantage. It also focuses on mergers & acquisitions to expand its regional reach and technical expertise. Furthermore, the company aims to maintain a healthy relationship with its channel partners to enhance the accessibility of its product and services to the market.
Schneider Electric is focused on organic growth by providing world-class services and software. The company plans to accelerate the development of its profitable businesses by improving its systems and equipment. Digitization forms the core of its key strategy. The company aims to support the digital transformation of its customers and strategic partners. It invests in R&D to modernize its existing facilities in key industries, thereby maintaining its market position.
Parker Hannifin Corporation has a comprehensive business strategy with different areas of focus. It heavily invests in its R&D division to gain a competitive advantage. The company strategizes to diversify its products to ensure sustainable business performance, catering to clients' needs in different regions.
Threat of New Entrants
The threat of new entrants signifies the impact of new players entering the market. The development of motion control systems involves high technical expertise and moderate capital requirements, increasing barriers for new entrants in the global market. The OEMs rely on large companies with strong brand recognition, making it difficult for the new players to compete with the established players. The latter dominates the industry and maintains a substantial market share. However, the increasing application of motion control technologies in material handling and warehouses led to an increase in the number of players and an eased entry of the new players into the market. However, the new entrants will require strong strategic partnerships with tech giants to offer the best-in-class systems. Thus, the threat of new entrants in the global motion control market is expected to be moderate during the forecast period.
Bargaining Power of Suppliers
The suppliers are the providers of components such as microprocessors, sensor devices, control panels, cameras, and controllers. The concentration of suppliers in the global market is moderate, leading to suppliers' moderate bargaining power. However, the high cost of switching between suppliers due to the long-term contracts between them and the motion control systems manufacturers leads to an increase in the bargaining power of suppliers. Hence, the bargaining power of suppliers in the global motion control market is expected to be high during the forecast period.
Threat of Substitutes
There are some substitutes for motion control systems. However, none of the alternatives have the sophistication of these systems. Additionally, due to the limited number of suppliers in the global motion control market, the price differentiation of similar products is low. Hence, the threat of substitutes in the global motion control market is expected to be low during the forecast period.
Bargaining Power of Buyers
The buyers of motion control systems include different end-use industries. The concentration of buyers in the global market is high, which reduces their bargaining power. Furthermore, the impact of brand identity is moderate. The manufacturers tend to have long-term contracts with the OEMs for the uninterrupted supply of motion control systems, which leads to the high cost of switching between these system providers. Thus, the bargaining power of buyers is expected to be low in the global motion control market during the forecast period.
Intensity of Rivalry
Currently, there is low to moderate competition among the existing players in the global motion control market, with the key players focused on developing technologies. Moreover, the use of motion control systems is expected to increase significantly due to the growing need for these systems and the increasing demand for safety features worldwide. Therefore, there is high competition among the existing players in the market, which is expected to rise during the forecast period. Thus, the intensity of rivalry in the global motion control systems market is expected to range between low and moderate during the forecast period.
