New York, USA, Sept. 30, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the Global Safety Motion Control Market is estimated to rise at a CAGR of 5.9% and surpass $22,980.0 million over the forecast period from 2019 to 2026. The global market is segmented based on application, component, end-use, and region. Our analysts have stated that the growing adoption of safety standards and the rising importance of workplace safety are major factors predicted to propel the growth of the global safety motion control market in the estimated timeframe.
Besides, the constantly growing industrialization and modernization to enhance safety standards at workplace is expected to create lucrative growth opportunities in the global market. Moreover, the various advantages of the motion systems such as lower system costs, flexibility of the systems, easy implementation, and high productivity are other factors to bolster the market growth in the projected time.
Sensors Segment to be Most Lucrative throughout the Forecast
By component, the global market is segmented into DC motors, sensors, feedback devices, AC motors, motion controllers, and others. Among these, the sensors segment is estimated to experience noteworthy growth in the forecast period. This growth is majorly attributed to the wide-ranging usage of sensors various end use industries, such as manufacturing, automotive, and others.
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Assembling & Disassembling Equipment Segment to Hold the Largest Market Share
By application, the global industry is categorized into packaging, assembling & disassembling of equipment, material handling, and others. Of these, the assembling & disassembling of equipment is expected to account for majority of share mainly because it is a major operation in automotive, manufacturing, consumer electronics & other industries.
Automotive Segment to Witness Significant Growth
By end use industry, the global market is segmented into aerospace & defense, manufacturing, automotive, energy, and others. Of these, the automotive sector is projected to observe a considerable growth by 2026, owing to the growing demand for motion control systems to use in monitoring & control of mechanical parts.
Europe to Subjugate the Global Industry by 2026
Based on region, the global industry is divided into Europe, LAMEA, Asia Pacific, and North America. Of these, Europe safety motion control market is expected to play a dominant position mainly due to the presence of established manufacturers in the region such as Demero Automation Systems, Bosch Rexroth AG, Schneider Electric, and SIGMATEK GmbH & Co KG.
Major Players of the Market
The key players functioning in the global safety motion control market include Schneider Electric, Mitsubishi Electric Corporation, YASKAWA ELECTRIC CORPORATION, Siemens, ABB, Rockwell Automation, Inc., Demero Automation Systems, SIGMATEK GmbH & Co KG, Bosch Rexroth AG, and SICK AG. These players are adopting several strategies such as mergers & acquisitions, product developments, and novel product launches to obtain a strong position in the global industry. Further, the report outlines ad presents several aspects of these key players such as recent strategic moves & developments, product portfolio, SWOT analysis, and financial performance.