Factory Automation Mechanical Components Market To Breach $665.56 By 2023

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Penetration of automation technologies including Internet of Things, deep learning, and Artificial Intelligence into industrial setups has helped in generating a high demand for the global factory automation mechanical products market according to a market intelligence report published by IndustryARC. According to this report, the evaluated market size in the year 2023 will be $665.56 billion. The report further foresees 5.08% as the compound annual growth rate (CAGR) for the market to experience growth during the forecast period of 2018-2023.

The report is titled, ‘Factory Automation Mechanical Component Market: By Component (Shafts, Screws, Nuts, Clamps, Sensors, Gears, Motors, Pipes, Nozzles, and Others); By Application (Automotive, Chemical, Oil & Gas, Pharmaceutical, Packaging, Food & Beverages, Others); By Geography- Forecast (2018-2023.)’ In this report, automation experts at IndustryARC have researched and evaluated the mechanical product’s market in factory automation in several aspects and presented their viewpoints with statistical facts and figures.

Global Factory Automation Mechanical Component Market: Regional Analysis

Geography forms an important segmentation of the market report, bifurcating into Americas, Europe, APAC, and RoW. Europe leads the market geographically with a demand share of $169 billion in the year 2018. The European market is driven by an increase in consumer spending and a perpetual growth of automation demand in several industries. The European industries are maturing at a steady rate and are experiencing an extremely high demand for autonomous components. Major industries in Europe region are inclusive of ferrous, non-ferrous metal production, metal products, petroleum, cement, chemicals, pharmaceuticals, aerospace, automotive, industrial equipment, food and beverage, and others. All of these industries and their respective warehouses are employing industrial robots, thereby providing growth to the market. Germany leads the region with a significant level of automation adoption especially by its automotive industry key market players including Porsche, BMW, Volkswagen, Maybach, Opel, and many others.

Trends Disrupting The Factory Automation Mechanical Component Market

Disruptive trends in this market primarily center around product launches and acquisitions or mergers. Some of the trends that will define the factory automation mechanical component market direction in the upcoming years are:

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• PanGen Industrial Automation Offering

Panduit Corp, the global leader in solutions based on networking, and General Cable, known for their worldwide exports of aluminum, and fiber optic wire and cables paired together to release a portfolio of cables for application of industrial automation. This portfolio includes Ethernet, industrial fiber optics, and high-performance cabling which are extremely useful for factory automation.

• Robert Bosch’s Conveyor System For Fast Assembly

Rexroth, a Bosch company recently introduced VarioFlow chain conveyor systems for factory automation purposes. These conveyor systems have fast response times and operate with low noise. Rexroth has also released MTpro which is a planning software that helps in designing multi-conveyors that are extremely complex.

• Safety Laser Scanners For Hazardous Area Protection

Sick AG, a sensor intelligence company has innovated immensely in the field of factory automation. One of their more noticeable products are safety laser scanners titled S3000 which are known for detection and protection of hazardous areas present in front of a vulcanizing machine. The safety scanner is efficient enough to prevent any technical discrepancy in four hazardous areas simultaneously.

Global Factory Automation Mechanical Component Market: Competitive Landscape

Some of the key market players operating in the factory automation mechanical component market are the 3M Company, ABB Ltd., Amphenol Corporation, SKF Group, Schneider Electric, Rockwell Automation, THK Global, Honeywell International, General Electric, Mitsubishi Electric Corporation, Sick AG, Siemens AG, Yokogawa Electric Corporation, PepperL+Fuchs GMBH, Danaher Corporation, Omron Corporation, Weidmuller Holding AG, Panduit Corporation, Parket Hannifin Corporation, and Bosch Rexroth AG.

Talk to one of our sales representative about the full report by providing your details in the link below:

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Related Reports:

A. Industrial and Factory Automation Market
https://industryarc.com/Report/60/Global-Industrial-Factory-Automation-Market.html

B. The U.S Factory Automation Market
https://industryarc.com/Report/202/Factory-automation-market-mechanical-components-analysis.html

What can you expect from the report?
The Factory Automation Mechanical Component Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Factory Automation Mechanical Component Market Size by Product Categories & Application
2. Factory Automation Mechanical Component Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Factory Automation Mechanical Component Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Factory Automation Mechanical Component Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Factory Automation Mechanical Component Market Strategic Analysis
18. Factory Automation Mechanical Component Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Factory Automation Mechanical Component Market Revenue and Volume Analysis

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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