As the global economy continues to dig its way out of the recent financial crisis and the U.S. recession has “officially” ended, Motion System Design will use this new department to report on various sectors of the motion control and power transmission markets.
MarketWatch will help you stay informed about the most promising high-growth sectors and slow-growth areas by sharing key data that may help you earn your next promotion or develop a just-in-time design.
Motion controls market begins recovery
According to the latest statistics from IMS Research, Austin, the global market for motion controls began recovering in 2010, with revenues increasing 15.1% over 2009 levels to reach $10.5 billion. Data reported by leading suppliers indicates that the motion controls market was the hardest hit sector within industrial automation electronics equipment, with revenues declining 25% in 2009. However, the market is predicted to recover slowly and to regain 2008 revenue levels by 2012.
The motion controls market heavily depends on global machinery production, with more than 95% of motion control product sales going into machinery markets in 2009. Machinery production declined 18.8% globally during 2009, causing the large declines seen by many motion controls suppliers. As machinery orders started to pick up during the last quarter of 2009 and first half of 2010, a gradual recovery began.
High-technology sectors, including semiconductor and electronics assembly equipment, are leading the market out of the downturn. Increased demand for semiconductors during the first half of 2010 is driving growth in the market for semiconductor manufacturing equipment, which had declined more than 40% in 2009.
Growing populations and urbanization are increasing demand for processed foods and beverages as well as medical equipment, stimulating growth for machinery used in these sectors.
Driven by rapid growth in the Chinese economy, the Asia-Pacific region represents the largest opportunity for growth in motion controls. According to IMS Research analyst Jenalea Howell, “Machinery orders in China picked up during the summer of 2010, and machinery production is predicted to grow by 19.2% during all of 2010 in terms of revenues. This is projected to lead to revenue growth of 16.4% for motion control products.”
For more information, visit imsresearch.com.