ID: MRFR/SEM/7232-HCR | February 2021 | Region: Global | 100 pages
This study on global automation control components and devices market provides detailed information about the trends and dynamics in industrial automation and factory automation landscape, market size, competitive landscape, and growth opportunities. The global automation control components and devices market was valued at USD 43.61 billion in 2018; it is expected to reach USD 87.75 billion by the end of the forecast period at a CAGR of 10.8%. The scope of the global automation control components and devices market study includes the market size analysis and a detailed analysis of the manufacturer’s products, recent developments, vendor landscape, competitive benchmarking, and strategies. The market has been segmented based on type, application, and region.
Automation enhances production rate and quality by incorporating innovative and integrated technologies, thereby reducing costs associated with the production process. However, with the rapid evolution of technology, businesses are compelled to update their existing automation solutions to meet modern process requirements. This has encouraged several manufacturers to boost their production capacity of automation control components and devices to adopt advanced automation solutions such as value creation automation (VCA). OEMs in the automation market procure raw materials required to manufacture controllers, electronic components such as resistors, capacitors, and sensors. The major factors boosting the growth of automation control components and devices include government policies supporting the adoption of industrial automation, and increasing demand for industrial automation in industries.
The Global Automation Control Components and Devices Market have been segmented based on Type, Application, and Region.
By Type, the market has been segmented into relays/couplers (solid-state relays, photo IC couplers, power relays, control panel relays, safety relays, signal relays, automotive relays, interface terminals, and others), connectors (automotive connector, board to FPC narrow pitch connector, board to board narrow pitch connector, high current stacking connector, FPC/FFC connector, and active optical connector), switches (interlock switches, fall detection switches, push switches, snap switches, seal type switches, limit switches, and light-touch switches), and others (encoders/potentiometers, force-sensing capacitive device, and PIR motion sensors).
By Application, the market has been segmented into automotive, manufacturing, oil & gas, energy & power, mining & metals, electronics & semiconductor, aerospace & aviation, military defense, and government.
By Region, the automation control components and devices market have been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The Global Automation Control Components and Devices Market have been categorized into four regions—North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the market in 2018, while Asia-Pacific is expected to show the highest growth rate during the forecast period. The major factors responsible for the growing adoption of automation control components and devices in the region include the high demand for automation components in the oil & gas and metal and mining industry, presence of major manufacturers such as Panasonic and Omron, and adoption of digital technologies reduce the production cost. These factors highly impact the manufacturing capacity of manufacturers for the growth of automation control components and devices.
Global Automation Control Components and Devices Market, USD Billion
Source: MRFR Analysis
Market Research Future analyzes the major players operating in automation control components and devices market research study. Strong competition, rapid advances in technology, and frequent changes in government policies are key factors that restrain market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The market share analysis is derived by considering various factors such as financial position, segmental R&D investment, product innovations, corporate strength, product portfolio, strategy analysis, and key innovations in the market. Schneider Electric is a global provider of automation solutions; the company offers a wide range of automation products such as motion controllers, programmable relays, and interface modules. The company has a unique product portfolio in automation and devotes 5% of its sales every year for R&D with over 7,500 R&D engineers worldwide. The company provides technology and integrated solutions for optimizing the industrial processes in large oil and gas facilities. The company is investing in enhancing its workforce to maintain its market position.
The Key Players in the Automation Control Components and Devices Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are Panasonic Corporation, Omron Corporation, Control Components Inc, Schneider Electric SE, ABB Limited, Phoenix Contact, Delta Electronics, LUTZE Group, Encoder Products Company Inc, Baumer Ltd, Rockwell Automation, Honeywell International Inc., and Siemens AG. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 35–40% in the automation control components and devices market.
Frequently Asked Questions (FAQ) :
The escalating demand for industrial automation is foreseen to benefit the market in the forecast period.
Control Components Inc, LUTZE Group, Schneider Electric SE, Omron Corporation, Encoder Products Company Inc, ABB Limited, Phoenix Contact, and Delta Electronics are the noteworthy contenders in the market.
The earnings reaching USD 87.75 billion are expected to be perceived by the market.
The adoption of automation control elements is expected to promote the top ranking of the APAC region in the forecast period.
The forecast period includes regions from 2018 to 2025.