The Asia Pacific Automation Components Market would witness market growth of 9.5% CAGR during the forecast period (2023-2029).
Product designers are continually enhancing their creations to boost performance & energy efficiency. They modify racetrack profiles and employ a unique material for the cages, raceways, and rolling components. Also, producers have many opportunities due to developments in seal and lubrication technology and the usage of lightweight materials in high-performance goods. Improvements in performance, size, and cost reductions are made possible by directly integrating electro-mechanical features into the bearings.
Manufacturers are now incorporating advanced sensor units into their products due to the increasing demand for high-performance bearings. The sensor modules provide digital monitoring of the product's axial movement, acceleration, rotation speed, deceleration, and load-carrying capability. The emergence of the Internet of Things (IoT) has also promoted the use of connected machinery and equipment and ongoing monitoring.
China has acted to boost its 3D printing industry with beneficial legislation, such as more fiscal support & more accessible financing, as it relies on high-tech, expanding sectors to power the economy. Several funding alternatives, including bond issuing and going public, will be encouraged, according to the MIIT, which pledged to increase financial support for 3D printing companies. It will also be possible to lease money. The suggestions state that foreign corporations should be encouraged to set up R&D facilities in China. The market for automation components is expected to rise as 3D printing technology is increasingly used.
The China market dominated the Asia Pacific Automation Components Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $18,684 million by 2029. The Japan market is estimated to grow a CAGR of 8.8% during (2023 - 2029). Additionally, The India market would experience a CAGR of 10.2% during (2023 - 2029).
Based on Component, the market is segmented into Motors, Gears, Actuators, Bearing, Sensors, Locating Pins, Bushing & Coupling, Linear Shafts & Guides, Rollers, Screws and Stages. Based on Industry, the market is segmented into Automotive, Consumer Electronics, Chemical, Food & Beverage, Pharmaceutical, Semiconductors, Packaging and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automation Components Market is Projected to reach USD 211.5 Billion by 2029, at a CAGR of 9.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bosch Rexroth AG (Robert Bosch GmbH), AB SKF, Emerson Electric Co., Nidec Corporation, Parker Hannifin Corporation, Rockwell Automation, Inc., Shanghai KGG Robots Co., Ltd., Automotion Components Ltd (The Wixroyd Group) and Stock Drive Products/Sterling Instrument (Designatronics, Inc.)
By Component
By Industry
By Country
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