Global Automation Components Market
Information Technology

How Will Automation Components Market Grow Through 2024-2033?

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Business Research Company’s Automation Components Global Market Report 2024 offers crucial insights into the automation components market help businesses analyse and build stronger strategies.

Recent Growth and Future Projections

  • 2023 to 2024 Growth:
    • Market size: $145.95 billion (2023) to $163.87 billion (2024).
    • CAGR: 12.2%.
    • Key drivers: Customized solutions, cost reduction, efficiency demands, labor shortages, regulatory compliance.
  • 2024 to 2028 Growth:
    • Market size: $163.87 billion (2024) to $262.35 billion (2028).
    • CAGR: 12.4%.
    • Key drivers: Sustainability initiatives, digitalization, Industry 4.0, AI adoption, supply chain resilience.

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Emerging Trends in Automation Components

  • Edge Computing Integration:
    • Enhances real-time processing and decision-making at the source of data generation.
  • Collaborative Robots (Cobots):
    • Increased use in manufacturing due to their ability to work alongside humans, boosting productivity and safety.
  • Predictive Maintenance Solutions:
    • Adoption of AI-driven maintenance to anticipate and prevent equipment failures.
  • Industrial Internet of Things (IIoT):
    • Expansion of IIoT applications for better connectivity and data analytics in industrial operations.
  • Additive Manufacturing:
    • Custom component production becoming more prevalent with 3D printing technologies.

Industrial Robots: A Key Growth Driver

  • Efficiency and Productivity:
    • Industrial robots are essential for tasks such as assembly, welding, painting, and material handling.
    • Benefits: Enhanced precision, reduced labor costs, and improved safety.
  • Market Surge:
    • 2021 saw a 31% increase in industrial robot installations, totaling 517,385 units globally.
    • Total operational stock of robots: ~3.5 million units.

Major Players in the Market

  • Leading Companies:
    • Siemens AG, General Electric, Mitsubishi Electric, Schneider Electric, Honeywell International.
    • ABB Ltd., Eaton Corporation, Nidec Corporation, TE Connectivity, Parker Hannifin.
    • Emerson Electric, SKF, Rockwell Automation, Danfoss, Omron Corporation.
    • Bosch Rexroth, FANUC, SMC Corporation, Keyence, Yaskawa Electric.
    • Festo AG & Co. KG, KUKA AG, Yokogawa Electric, National Instruments, Automotion Components Ltd.

Innovations in Sensor Technology

  • Sensor Experience Kits:
    • Developed to meet IoT engineering demands.
    • Example: Henkel’s Sensor INKxperience Kit includes leak detection sensors, liquid level sensors, PTC heaters, and force-sensitive resistors.
    • Facilitates rapid prototyping and development of IoT applications.

Strategic Acquisitions

  • Rockwell Automation and CUBIC:
    • October 2022 acquisition of CUBIC by Rockwell Automation.
    • Enhances intelligent motor control portfolio and expands global reach, especially in Asia, Europe, and Latin America.
    • CUBIC: A Denmark-based automation components provider.

Market Segmentation

  • By Components:
    • Rollers, Stages, Linear Shafts, Bushings, Linear Guides, Locating Pins, Bearings, Gears, Couplings, Other Components.
  • By Solution:
    • Supervisory Control and Data Acquisition, Programmable Logic Controller, Distributed Control System, Plant Asset Management, Functional Safety, Product Lifecycle Management, Manufacturing Execution System.
  • By End-User Industry:
    • Automotive, Consumer Electronics, Pharmaceuticals, Food and Beverage, Packaging, 3D Printing, Semiconductors, Chemical, Other Industries.

Regional Insights

  • Largest Market:
    • Europe dominated the automation component market in 2023.
  • Fastest Growing Region:
    • Asia-Pacific is expected to lead in growth during the forecast period.

The automation component market is set for remarkable growth, driven by technological advancements, strategic investments, and a global push towards more efficient and sustainable manufacturing practices. As businesses continue to innovate and adopt cutting-edge solutions, the market’s trajectory remains robust and promising.

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The Automation Components Global Market Report 2024  provides a comprehensive outlook of the automation components market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automation components market forecast offers a thorough analysis on automation components market size, automation components market share, prominent players and their strategies.

The Table Of Content For The Automation Components Market Include:

1. Automation Components Market Executive Summary
2. Automation Components Market Segments
3. Automation Components Market Size And Automation Components Market Growth Rate
4. Key Automation Components Market Trends
5. Major Automation Components Market Drivers
25. Key Mergers And Acquisitions In The Automation Components Market
26. Top Automation Components Companies
27. Automation Components Market Opportunities And Strategies
28. Automation Components Market, Conclusions And Recommendations
29. Appendix

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