How Has the Automation Components Market Size Evolved in Recent Years?
The automation components market has seen considerable growth due to a variety of factors.
• The size of the automation components market has seen a swift expansion over the recent years. The market, which is expected to swell from $163.87 billion in 2024 to $184.86 billion in 2025, is witnessing a compound annual growth rate (CAGR) of 12.8%.
Several reasons for this growth in the previous years include a surge in demand for tailor-made solutions, the pressure to minimize costs, escalating demand for efficiency, shortage of labor, and the need for regulatory compliance.
What are the Market Size and Expected Growth Rates for the Automation Components Market?
The automation components market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automation components market is anticipated to experience swift expansion. With a compound annual growth rate (CAGR) of 12.3%, this market's value is projected to hit $294.44 billion by 2029.
Factors contributing to this growth during the forecasting period include sustainability efforts, digitalization trends, the rising prominence of Industry 4.0, the utilization of artificial intelligence, and the ability to maintain supply chain resilience. Looking ahead, key market trends to monitor include the integration of edge computing, the increasing use of collaborative robots or 'cobots', the implementation of predictive maintenance practices, the widening scope of industrial internet of things (IIoT) applications, and the application of additive manufacturing for bespoke components.
Which Key Drivers Are Propelling The Automation Components Market's Growth?
The escalating need for industrial robots in manufacturing operations is projected to drive the growth of the automation component market. These programmable mechanical tools are utilized in manufacturing tasks such as assembly, welding, painting, and handling materials to increase efficiency, precision, and production while minimizing labor charges and heightening safety. Enhancing the performance and function of industrial robots, automation components optimise manufacturing processes. For example, based on the World Robotics 2023 report published by International Federation of Robotics, a non-profit organization from Germany, there were 414,281 operational robots in Japan, 728,391 in Europe, and 491,535 in the Americas in 2022, an increment of 9%. The US represented 7% of worldwide robot installations, which experienced a 7% rise to more than 590,000 units in 2023. Consequently, this escalating interest in industrial robots for manufacturing operations is fueling the development of the automation component market.
What Are The Key Segments Within The Global Automation Components Market?
The automation components market covered in this report is segmented –
1) By Components: Rollers, Stages, Linear Shafts, Bushings, Linear Guides, Locating Pins, Bearings, Gears, Couplings, Other Components
2) By Solution: Supervisory Control And Data Acquisition, Programmable Logic Controller, Distributed Control System, Plant Asset Management, Functional Safety, Product Lifecycle Management, Manufacturing Execution System
3) By End User Industry: Automotive, Consumer Electronics, Pharmaceuticals, Food And Beverage, Packaging, 3D Printing, Semiconductors, Chemical, Other End-User Industries
Subsegments:
1) By Rollers: Conveyor Rollers, Guide Rollers, Idler Rollers, Ball Transfer Rollers
2) By Stages: Linear Stages, Rotary Stages, XY Stages, Precision Stages
3) By Linear Shafts: Hardened Linear Shafts, Ground Linear Shafts, Non-Ground Linear Shafts
4) By Bushings: Linear Bushings, Sleeve Bushings, Flanged Bushings, Bearings and Bushings Assemblies
5) By Linear Guides: Roller Linear Guides, Ball Linear Guides, Cross Roller Guides
6) By Locating Pins: Spring Loaded Locating Pins, Manual Locating Pins, Pneumatic Locating Pins
7) By Bearings: Ball Bearings, Roller Bearings, Thrust Bearings, Needle Bearings
8) By Gears: Spur Gears, Helical Gears, Bevel Gears, Worm Gears, Planetary Gears
9) By Couplings: Flexible Couplings, Rigid Couplings, Universal Couplings, Shaft Couplings
10) By Other Components: Fasteners, Clamps, Mounting Brackets, Drive Units, Sensors, Other Supporting Automation Components
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How Are New Trends Impacting The Size Of The Automation Components Market?
Leading players in the automation components market are innovating with advanced solutions such as sensor experience kits designed specifically for IoT engineering, responding to the increasing need for integrated and scalable IoT solutions. These kits often contain a range of sensors, development platforms, connectivity modules, and software tools to expedite the prototyping and creation of IoT applications. For example, in February 2023, Henkel AG & Co. KGaA, a company based in Germany that specializes in manufacturing, unveiled the Sensor INKxperience Kit tailor-made for IoT engineering. This kit provides four types of printed electronics technology, supported by hardware and software, giving professional engineers the opportunity to explore and experiment with printed sensor technologies for IoT applications. The kit comes with a leak detection sensor, a contactless liquid level sensor, a PTC heater, and single and multi-zone FSR sensors, facilitating swift prototyping and testing of sensor solutions by engineers.
Who Are the Key Players In The Automation Components Market?
Major companies operating in the automation components market are:
• Siemens AG
• General Electric Company
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Honeywell International Inc.
• ABB Ltd.
• Eaton Corporation
• Nidec Corporation
• TE Connectivity Ltd.
• Parker Hannifin Corporation
• Emerson Electric Co.
• Svenska Kullagerfabriken
• Rockwell Automation Inc.
• Danfoss
• Omron Corporation
• Bosch Rexroth AG
• FANUC Corporation
• SMC Corporation
• Keyence Corporation
• Yaskawa Electric Corporation
• Festo AG & Co. KG
• KUKA AG
• Yokogawa Electric Corporation
• National Instruments Corporation
• Automotion Components Ltd
What Are The Regional Insights Into The Automation Components Market?
Europe was the largest region in the automation component market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automation components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
