Market Research Report
North America Safety Motion Control Market - By Types (Servo Drives, Servo Motors), Industry, Countries, Trends, Forecast - (2017 - 2022)
|Published by||Mordor Intelligence LLP||Product code||543663|
|Published||Content info||95 Pages
Delivery time: 2-3 business days
|North America Safety Motion Control Market - By Types (Servo Drives, Servo Motors), Industry, Countries, Trends, Forecast - (2017 - 2022)|
|Published: January 21, 2017||Content info: 95 Pages||
The North America Safety Motion Control market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 - 2022. Motion Control products include a broad range of servo drives, servomotors and actuators. Safety motion control is one of the offerings under the motion control category. These Motion Control Devices are specifically designed to help reduce downtime and reduce energy and production waste, while improving the machine operating capabilities. The Safety Motion Control devices can optimize the production of various processes carried out with automated guided vehicles or with the intrusion of personnel. These also make the set-up process as well the maintenance of equipment more convenient.
The United States is one of the top five major exporters ($1.12B) as well as importers ($2.06) of Electric Motor Parts in the world. Given the growth of North America's economy, it has been the strongest compared to the rest of the world. Investments in a mature market like North America is driven by the availability of high technological resources for the development of varied equipment suitable for all the developing and emerging sectors in this region.
The US has the largest and the most technologically developed economy in the world, with a per capita GDP of $46,900. Business firms in the US enjoy a greater degree of flexibility compared to businesses in Japan and Western Europe, in terms of innovation and expansion. Canada is equipped with a high-tech industrial economy, and resembles the US in its market-oriented economic system, production pattern and high living standards.
The North America Safety Motion Control market is estimated to be worth $xx billion in 2015 and is projected to grow at a CAGR of xx.xx% during the forecast period to reach $xx billion by 2020.
The North America Safety Motion Control market is broadly segmented based on types, verticals and regions. As per the classification of types, the market is segmented into Servo Drives and Servo Motors. Similarly based on its verticals, its applications are explained under segments such as Automotive, Energy & Power, Manufacturing, Pharmaceutical, Semiconductors, Food & Beverages, Oil & Gas, among others. Some of the market players mentioned in the report are Rockwell Automation, Melexa, SIGMATEK Safety System, ASTRE Engineering Tunisie, Zhejiang Huazhang Automation and more.
The key factors contributing to the growth of North America Safety Motion Control Market are Industry Safety Standards, Demand for Safe Equipment, Easy Set-up and Maintenance requirements and High Power requirements.
High Market Competition, Installation Costs and High Product Costs are the key challenges for the Motion Control Devices market.
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