Summary
The global Automation Aftermarket is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Automation refers to the use of technology that is performed with minimal to no human assistance. Automation is widely used in various types of machinery, factories, boilers, and heat-treating ovens. Automation is achieved by various means such as electrical, mechanical, electronics, hydraulic, and pneumatic. The global automation aftermarket focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global automation aftermarket is expected to witness significant growth during the forecast period, owing to increasing demand for efficiency and cost-effectiveness in manufacturing companies.
Market Drivers
Growing adoption of Industry 4.0 trends and IoT-enabled smart technologies are expected to drive growth of the global automation aftermarket during the forecast period. Industry 4.0 is the fourth industrial revolution in the ongoing automation of conventional manufacturing by using modern technologies. The primary objective of this is to enhance efficiency, eliminate redundancy, minimize human errors, and improve productivity. Various companies across the globe are introducing innovative Industry 4.0 solutions, in order to cater to rising demand for efficiency. For instance, in September 2019, Siemens AG, a German automation company, launched its latest portfolio of process control and automation technology Simatic S7-1500 R/H PLC, Sirius 3RW5 Soft Starters, and more in the Egyptian market. Hence, such factors are expected to drive growth of the global automation aftermarket during the forecast period. Furthermore, increasing demand for efficiency and cost-effectiveness in manufacturing companies is expected to propel the global automation aftermarket growth in the near future.
Market Restraints
Lack of skilled personnel to operate advanced types of machinery and high capital investment is expected to restrain growth of the global automation aftermarket during the forecast period.
Regional Insights
Among regions, Europe is expected to witness significant growth in the global automation aftermarket during the forecast period. This is owing to the presence of key automation companies such as Siemens AG, Schneider, and ABB Ltd. across the region. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to rising industrialization in emerging economies such as India, China, and South Korea.
Competitive Landscape
Key players involved in the global automation aftermarket are ABB, Honeywell, Siemens, SAP, Toshiba, Applied Material, Emerson Electric, Wood Group Mustang, Schneider, Aspen, and Yokogawa.
For instance, in July 2020, ABB India, a subsidiary of ABB Ltd., inaugurated a new robotics solutions delivery facility to support the digital transformation of manufacturing in India.
The Automation Aftermarket report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Automation Aftermarket, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- ABB
- Honeywell
- Siemens
- Applied Material
- Emerson Electric
- Aspen
- SAP
- Schneider
- Toshiba
- Wood Group Mustang
- Yokogawa
By the Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
- split into
- Automotive
- Power
- Food and Beverage
- Pharmaceutical
- Oil and Gas
- Chemical
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Automation Aftermarket Report:
- To assess the size of the market by value and volume
- Analyze the Automation Aftermarket in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Automation Aftermarket in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Automation Aftermarket
The Automation Aftermarket engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Automation Aftermarket from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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