Industry Controls and Factory Automation Market Research Report - Global Forecast to 2030

Industry Controls and Factory Automation Market Research Report - Global Forecast to 2030

ID: MRFR/E&P/1337-HCR | February 2023 | Region: Global | 188 pages

Impact of COVID-19 on Industry Controls Factory Automation Market


The COVID-19 pandemic has tightened its hold across the world with an increasing number of cases, resulting in a shutdown of various manufacturing facilities. The industrial sector has also been witnessing restrictions caused by COVID-19, as it has affected the supply chains of the factories to a significant extent. However, after a significant lockdown, China is trying to revive its production activities as it is at the forefront of the global production and installation of automation and robotics. This is how it has been able to control the pandemic after various stringent measures and is shifting its focus towards a gradual recovery of production cycles. Even though the spread of the virus has been controlled to a greater extent in the country, resulting in around 95% of large businesses in China and another 60% of small and medium businesses outside the epicenter, reopening global supplies to North America and Europe continue to get delayed due to the entire slow supply chain. A major reduction in exports, due to a disrupted supply chain and the spread of the pandemic in European countries and the US, are further adding to the troubles of Chinese manufacturing businesses, which affects the global market for industry control and automation.


FIGURE: CHINA INDUSTRIAL AUTOMATION EQUIPMENT SCENARIO


Automation holds a significant share in industries and ensures that industries can meet a certain production level in the difficult times of COVID-19. Before the pandemic outbreak, industrial automation activity was slow due to flat capital expenditure and a decline in industrial activity globally. The COVID-19 situation has further established the fact that human workers are equally important as factory automation. Implementation of technologies such as blockchains in inventory management and logistics or AI-equipped assembly lines in factories has been insufficiently developed, or the implementation scale has been partial. Hence, human intervention is important and necessary to get the industry running.


Industry Controls Factory Automation Market


Source: Primary Experts, Secondary Sources and MRFR Analysis


CHINA INDUSTRIAL AUTOMATION EQUIPMENT


Source: Secondary sources