Factory Automation is the process of integrating software and mechanical technology to the processes carried out in a factory to generate a higher rate of efficiency and reduce operating costs. Factory Automation is done in two primary ways, Automation by Electrical Components and Automation by Mechanical Components. Mechanical Components that are used in Factory Automation include shafts, brushings, sensors, and switches among others. The United States of America contains a major chunk of market share in the Factory Automation Market because an increasing number of industries in the U.S. are in the process of completely automating their factories.
Table of contents and insights:
The Factory Automation Market is classified into two main categories as stated above; Automation by Electrical Components and Automation by Mechanical Components. Each of these components is further sub divided based on the automation products. The Automation by Mechanical Components contains over 100 Components, out of which the top 100 Components have been discussed in detail in the report by Industry Arc. The list of components includes a variety of screws, motors, hoses, pumps, knobs, sensors and others. The market is also classified according to the End User Industry. There is a great demand for Factory Automations by different industries like Automotive, Chemical, Oil and Gas, Pharmaceutical Industries among others mentioned in detail in the report.
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The Global Industrial and Factory Automation Equipment and Services Market is predicted to grow at 7.05% CAGR in the period 2014-2020 according to research done by Industry Arc. The Factory Automation Equipment and Services Market is also estimated to reach $283.2 Billion by the year 2018. The U.S. is set to play a major role in this market as it occupies 19% of the market share. The U.S. Government has also announced that it would like to further strengthen the U.S. Manufacturing Industries; this confirms the increase in investment towards Factory Automation from The U.S. in the coming years.
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Market Driving Force:
As an increasing number of Industries throughout the globe find themselves in a quest to improve quality, productivity, safety, speed, and competitiveness, while reducing costs, most of these industries turn to Factory Automation as a solution. Automation of processes has proved to increase the speed at which processes are carried out and has also made it more cost effective. The recent focus on environment and energy consumption has also driven Industries to use Automations in order to improve efficiency of their machines and hence reducing energy wastage.
There are several key players in this market that manufacture mechanical components of Factory Automation products like 3M (USA), ABB Ltd (Switzerland), Schneider Electric (Germany), Rockwell Automation (USA) and Honeywell International (USA) to name a few. Further in the report, is mentioned the complete list.
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Factory Automation Market (2014-2020): By Mechanical Components (Shafts, Bushings, Screws and Nuts, Clamps, Sensors, Gears, Motors, Pipes, Nozzles and Others), By Application (Automotive, Chemical, Oil & Gas, Pharmaceutical, Packaging, Food & Beverage) and By Geography
USA Factory Automation Market By Electrical Components (Inverters, Touch Panel, PLC, Relay, etc.); and By End User Industry (Automobile, Packaging, Chemical, Oil and Gas, etc.) – (2014 – 2020)
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