[Latest] Global Automation Components Market Size/Share

Austin, TX, USA, July 07, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Automation Components Market Size, Trends and Insights By Components (Rollers, Stages, Linear Shafts, Bushings, Linear Guides, Locating Pins, Bearings, Gears, Others), By End User Industry (Automotive, Consumer Electronics, Pharmaceuticals, Food and Beverage, Packaging , Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Automation Components Market size & share was valued at approximately USD 127.88 Billion in 2022 and is expected to reach USD 140.18 Billion in 2023 and is expected to reach a value of around USD 323.51 Billion by 2032, at a compound annual growth rate (CAGR) of about 9.5% during the forecast period 2023 to 2032.”

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Automation Components Market: Growth Factors and Dynamics

Increasing Industrial Automation: Industrial automation is on the rise, leading to significant growth in the automation components market. Various sectors, including manufacturing, automotive, and aerospace, are adopting automation solutions to boost productivity, cut costs, improve efficiency, and maintain quality control.

Advancements in Technology: Technological advancements are driving the automation components market forward. Innovations in sensors, actuators, control systems, and robotics have improved performance, precision, and reliability. Integration of technologies like AI, machine learning, and IoT has further enhanced automation systems, creating lucrative opportunities for component manufacturers.

Cost and Labor Savings: Automation components offer cost and labor savings by reducing the need for manual work and minimizing errors. By automating repetitive tasks, companies can streamline operations, optimize resource usage, and save on labor costs. This not only boosts productivity but also contributes to substantial cost savings.

Growing Focus on Efficiency and Quality: Efficiency and quality are key focuses for companies in today’s competitive market. Automation components enable precise control, accurate measurements, and real-time monitoring, resulting in improved efficiency, reduced waste, and enhanced product quality. Meeting customer demands and optimizing production processes are driving the demand for automation components.

Rising Demand for Flexible Manufacturing: The growing demand for flexible manufacturing systems is fueling the automation components market. Companies require the ability to quickly adapt to market changes and customize products. Automation components enable rapid changeovers, easy reprogramming, and adaptive production processes, supporting flexible manufacturing in industries such as electronics and consumer goods.

Increasing Adoption of Collaborative Robots: Collaborative robots (cobots) are gaining popularity in industrial settings. These robots work alongside human operators, enhancing productivity. Automation components, including sensors, vision systems, and safety mechanisms, ensure safe human-robot interaction. The increased adoption of cobots across industries is driving the demand for automation components.
Demand for Energy Efficiency: Energy efficiency has become a significant concern for industries worldwide. Automation components play a vital role in optimizing energy usage by enabling precise control, monitoring energy consumption, and implementing energy-saving measures. The ability of automation systems to optimize processes and reduce energy waste is driving the demand for automation components in industries striving for sustainable and efficient operations.

Growing Emphasis on Safety: Safety is a paramount consideration in industrial environments. Automation components contribute to ensuring a safe working environment by incorporating safety features such as emergency stop systems, protective barriers, and safety interlocks. As companies prioritize worker safety and comply with stringent safety regulations, the demand for automation components with robust safety capabilities continues to increase.

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 140.18 Billion
Projected Market Size in 2032	USD 323.51 Billion
Market Size in 2022	USD 127.88 Billion
CAGR Growth Rate	9.5% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Components, End User Industry and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Automation Components report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Automation Components report has been modified to include the COVID-19 impact study prior to delivery.)

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Automation Components Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Automation Components Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Disruptions in Supply Chain: The COVID-19 pandemic has caused disruptions in global supply chains, affecting the availability of raw materials and components for automation systems. Travel restrictions, lockdown measures, and factory closures have led to delays and shortages, impacting the production and distribution of automation components.

Slowdown in Industrial Activities: Many industries experienced a slowdown or temporary shutdown of operations due to the pandemic. This decline in industrial activities resulted in reduced demand for automation components as companies scaled back or postponed their automation projects to focus on immediate operational challenges and cost-cutting measures.

Resumed Industrial Operations: As economies recover and restrictions ease, industrial activities are gradually resuming. Companies are restarting their operations, which includes the implementation or continuation of automation projects. This resumption of industrial activities is expected to drive the demand for automation components.

Emphasis on Resilience and Efficiency: The COVID-19 pandemic has highlighted the need for resilient and efficient operations. Industries are now prioritizing automation to enhance productivity, reduce dependency on manual labor, and improve operational efficiency. This renewed focus on resilience and efficiency is expected to drive the demand for automation components.

Adoption of Remote Monitoring and Control: The pandemic has accelerated the adoption of remote monitoring and control solutions. Automation components that enable remote monitoring, data collection, and real-time control are in high demand as companies seek to minimize physical presence, ensure worker safety, and remotely manage their operations.

Investment in Digital Transformation: The pandemic has underscored the importance of digital transformation for businesses. Companies are increasingly investing in automation technologies to future-proof their operations and improve agility. Automation components that facilitate digital transformation, such as advanced sensors, connectivity solutions, and data analytics tools, are expected to witness increased demand as companies invest in upgrading their automation infrastructure.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Automation Components Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Key questions answered in this report:

What is the size of the Automation Components market and what is its expected growth rate?
What are the primary driving factors that push the Automation Components market forward?
What are the Automation Components Industry's top companies?
What are the different categories that the Automation Components Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Automation Components market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Automation Components Market:

ABB Ltd.
Siemens AG
Schneider Electric SE
Rockwell Automation Inc.
Mitsubishi Electric Corporation
Emerson Electric Co.
Honeywell International Inc.
Yokogawa Electric Corporation
Omron Corporation
Keyence Corporation
Others

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Automation Components Market – Regional Analysis

The Automation Components Market is segmented into various regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Here is a brief overview of each region:

North America: The automation components market in North America is witnessing a rise in the adoption of advanced robotics and AI technologies across industries like automotive, aerospace, and electronics. Key market players dominating the region include Rockwell Automation, Honeywell International Inc., and Emerson Electric Co., offering a wide range of automation components and comprehensive solutions.

Europe: Sustainability and energy efficiency are key trends in the automation components market in Europe. Companies across industries are actively seeking automation components that enable eco-friendly manufacturing and reduce energy consumption. Siemens AG, ABB Ltd, and Schneider Electric SE are dominant market players in the region, known for their innovative and sustainable automation solutions.

Asia-Pacific: Rapid industrialization and increasing automation adoption in countries like China, Japan, and South Korea are driving the automation components market in the Asia-Pacific region. Leading market players in the region, including Mitsubishi Electric Corporation, Fanuc Corporation, and Yaskawa Electric Corporation, offer an extensive portfolio of automation components and hold a dominant position in the market.

LAMEA (Latin America, Middle East, and Africa): The automation components market in LAMEA is characterized by a growing focus on digital transformation and Industry 4.0 initiatives. Companies in the region are embracing automation components to enhance productivity, optimize manufacturing processes, and gain a competitive edge. Key market players in LAMEA, such as ABB Ltd, Siemens AG, and Schneider Electric SE, have a strong presence and provide a diverse range of automation components to meet the unique requirements of the region.

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The Automation Components Market is segmented as follows:

By Components

Rollers
Stages
Linear Shafts
Bushings
Linear Guides
Locating Pins
Bearings
Gears
Others

By End User Industry

Automotive
Consumer Electronics
Pharmaceuticals
Food and Beverage
Packaging
Others

Click Here to Get a Free Sample Report of the Global Automation Components Market @ https://www.custommarketinsights.com/report/automation-components-market/

By Region

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Automation Components Market Research/Analysis Report Contains Answers to the following Questions.

What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Automation Components Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Automation Components Market? What Was the Capacity, Production Value, Cost and PROFIT of the Automation Components Market?
What Is the Current Market Status of the Automation Components Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Automation Components Market by Considering Applications and Types?
What Are Projections of the Global Automation Components Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Automation Components Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Automation Components Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Automation Components Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Automation Components Industry?

Click Here to Access a Free Sample Report of the Global Automation Components Market @ https://www.custommarketinsights.com/report/automation-components-market/

Reasons to Purchase Automation Components Market Report

Automation Components Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Automation Components Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Automation Components Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Automation Components Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Automation Components market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Automation Components Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/automation-components-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Automation Components market analysis.

The competitive environment of current and potential participants in the Automation Components market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Automation Components market should find this report useful. The research will be useful to all market participants in the Automation Components industry.
Managers in the Automation Components sector are interested in publishing up-to-date and projected data about the worldwide Automation Components market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Automation Components products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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