Research and Markets has announced the addition of the "USA Factory Automation Market: Top 100 Mechanical Components Analysis and Forecast (2014-2020)" report to their offering.
Factory automation is the use of different control systems, software and other technologies for automation of the factory. Several electrical and mechanical parts play a major role in the automation systems and products of factories. Linear shafts, bushings, switches, sensors, bearing units, gears, motors, V-belts, solenoid valves are some of the main mechanical components of the overall 100 parts covered in the report. The complete ecosystem spanning several key manufacturers of the parts, distributors has been analyzed to give an in-depth understanding of the market landscape.
The challenge for this market is reduced security and high installation and maintenance costs. The scaling back of investments in Asian countries like China by OEMs also increases the need for various key products, systems and components as new factory establishments, expansion plans are executed in the next few years in the US.
The global industrial and factory Automation equipment and services market is slated to grow at 7.05% CAGR for the next five years. The market is estimated to reach $283.2bn by 2018; 19% of which is occupied by USA. Control systems have the largest market in factories with M2M interaction making the process completely automated. Sensors help in differentiating, error control and production management.
Innovative products and services are gradually capturing the Industrial Automation market. Companies such as Sick AG are offering better miniature sensors to which are affordable and productive. Siemens who already have strong market in Asia are increasing production due to demand for automation in emerging countries like India.
- The global factory or discrete automation market had a market size of around $75bn in 2012 and the market is expected to grow at a CAGR of 8.4% during the forecast period.
- Factory automation will grow on key growth factors like mass customization, supply chain synchronization, integration of systems, functional costs and total system cost.
- The market leader in the Screws, Washers and Nuts market in the U.S. is Acument Global Technologies, Inc. which has a 20% share in this industry. The Hillman Companies, Inc. and SPS Technologies are two other competitors with a sizable market share.
- The total size of the Screws, Washers, Nuts market based on revenues for the year 2013 is $7,805million. Factory Automation accounts for $2,304 million.
- The market leader in the Retaining Ring market is MW Industries which has an 18% share in this industry. Micro Plastics, Inc. and CAB Incorporated are two other competitors with a sizable market share.
- Arrive Systems, Inc. announced its strategic alliance with Global Cache, the prominent independent manufacturer of IP and Wi-Fi connectivity products, for the control and automation market.
- The total market size for Sensors market is $31,054 million. Factory Automation sector accounts for $11,054 million (35.6%).
- The market leader of Hydraulic Devices, Pumps is Parker Hannifin Group with annual sales of $943 million and market share of 12%.
- Michigan created the most manufacturing jobs among the states in the U.S.in 2013.