According to the latest report “Factory Automation Market: By Mechanical Components (Shafts, Screws, Nuts, Clamps, Sensors, Gears, Motors, Pipes, Nozzles, Others) By Application (Automotive, Chemical, Oil & Gas, Pharmaceutical, Packaging, Food & Beverage) Forecast (2012-2021)” published by IndustryARC, the market to surpass $603.9 billion by 2021.
Browse 18 Market Tables, above 208 Figures spread through approximately 300 pages and an in-depth TOC on “Global Factory Automation Mechanical Component Market” – http://industryarc.com/Report/196/factory-automation-mechanical-products-market-analysis.html
As per the assessment from IndustryARC, the global factory automation market for mechanical components is expected to grow owing to rise in applications in end user industries, decreasing costs for automation adoption in number of processes and technological advancements. The market for factory automation mechanical components is well established in developed nations especially in Europe and Americas, with APAC gaining traction at a rapid pace.
The global factory automation market was analyzed to experience a high adoption rate in automobiles, F&B, packaging and pharmaceuticals industries for numerous applications. The technological developments in the production technology and automation processes are overcoming the technical barriers which had been hindering the market growth. The pharmaceuticals sector is expected to grow at 6.8% projecting to attribute the largest market share equivalent to $122 billion by 2021. Further, increasing amount of regulations imposed to give importance to product quality, safety and environmental protection is also poised to bolster the market growth.
Geographical analysis estimates that Europe region will have major market share with 34%, followed by Americas with 32%. Identifying the benefits of automation processes, faster production times are increasing the demand for mechanical components used in automation processes.
The major players in this market include:
- 3M Company (U.S.)
- ABB group (Switzerland)
- SKF Group (Sweden)
- Sick AG (Germany)
- Honeywell International (U.S.)
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Factory automation mechanical components manufacturers have utilized expansion, acquisitions, collaboration as well as product launches to augment its stronghold into related markets and enhance core competencies through additions to product portfolio as well as leveraging capabilities of acquired companies to gain traction in the emerging markets.
The global factory automation mechanical components market study across various industries incorporated in the report are
- Oil and gas
- Food and Beverages
- Paper and Pulp
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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