Report : Motion Positioning Stages Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Movement Type (Linear, Rotary, and Goniometer), Drive Type (Screw and Direct), Axis (Single Axis and Multi Axis), Bearing Type (Air Bearing and Mechanical Bearing), Load Capacity (0-20 kg, 21-50 kg, 51-100 kg, 101-140 kg, and Above 140 kg), and Application (Biotechnology, Laser Cutting, Automation, Industrial Handling, and Others), and Geography
According to our latest market study on “Motion Positioning Stages Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Movement Type (Linear, Rotary, and Goniometer), Drive Type (Screw and Direct), Axis (Single Axis and Multi Axis), Bearing Type (Air Bearing and Mechanical Bearing), Load Capacity (0–20 kg, 21–50 kg, 51–100 kg, 101–140 kg, and Above 140 kg), and Application (Biotechnology, Laser Cutting, Automation, Industrial Handling, and Others),” the market was valued at US$ 644.16 million in 2019 and is projected to reach US$ 1,035.50 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.
The increasing competition across industries drives the adoption of automation technologies such as industrial internet of things (IIoT), artificial intelligence (AI), machine learning (ML), and big data to increase productivity and reduce operational costs of companies. The trend of digitalization and process automation across industries is referred to Industry 4.0, and it is pushing businesses to adapt the changing technology landscape to sustain in today’s competitive industrial sector. Automation infrastructure has become a necessity in various business processes ranging from safety, process to motion control. Multi-axis controllers play crucial role in enabling the adoption of Industry 4.0 across several industries, including electronics, semiconductor, manufacturing, and food & beverages. As per the market experts, the IIoT market in developing countries has the potential to grow multifold during the forecast period. China is the largest contributor to overall IIoT spending in the region. Japan, South Korea, South Africa, Brazil, Mexico, and India are also anticipated to offer ample growth opportunities for Industry 4.0. Factors such as increasing investments in the IT & telecom infrastructure and rising demand for high efficiency and less operational costs lead to the adoption of advanced motion positioning stages. The rising trend of automation and adoption of advanced technologies across various industries are anticipated to boost the demand for motion positioning stages globally.
The motion positioning stages market is segmented into movement type, drive type, axis, bearing type, load capacity, application, and geography. Based on movement type, the linear segment held the largest share of the global motion positioning stages market throughout the forecast period from 2020 to 2027. Based on drive type, the direct drive segment dominated the market in 2019. Based on axis, the single-axis segment held the substantial share in the motion positioning stages market. In terms of bearing type, the mechanical bearing segment is anticipated to dominate the market growth during the forecast period. By load capacity, the 0–20 kg segment will continue to dominate the motion positioning stages market during the forecast period. Based on application, the motion positioning stages market is dominated by automation application. Geographically, APAC held the largest share of the motion positioning stages market in 2019.
According to the report by the World Health Organization (WHO), the US, India, Brazil, Russia, Peru, Columbia, South Africa, and Mexico are among the worst affected countries due to the COVID-19 outbreak. On September 8, 2020, there were ~27,486,900 confirmed COVID-19 cases with ~894,980 total deaths globally, and the number of COVID-19 patients is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries across the world and the global economy has witnessed worst hit in 2020 and is likely to continue in 2021. The pandemic has created significant disruptions in various industries, such as electronics & semiconductor, automotive, defense, medical devices, and manufacturing. The crisis is anticipated to hinder the growth of various industries in APAC. For example, China is a global manufacturing hub and the most abundant raw material supplier for multiple industries worldwide; it was also among the worst affected COVID-19 countries in past few months. The lockdown of different plants and factories in China interrupted the global supply chains and negatively impacted manufacturing, delivery schedules, and multiple products sales and services. The ongoing COVID-19 crisis and critical situation in APAC will impact the growth of the motion positioning stages market negatively for the next few quarters.
The global motion positioning stages market has been segmented as follows: