The Europe Automation Components Market would witness market growth of 8.5% CAGR during the forecast period (2023-2029).
Linear guides are frequently employed when it comes to moving big objects. Additionally, it is anticipated that the resilient properties of linear guides—including their high durability, capabilities to withstand high loads depending on the application, reduced friction between blocks and rails, high precision accuracy, and equal loading—will play a significant role in the growth of their market share. In automation, various actuators are employed, such as electric motors, pneumatic cylinders, hydraulic cylinders, and piezoelectric actuators.
The application-specific criteria, such as the required force and speed to move the components, will determine the most suitable actuator. Robots can now carry out increasingly complicated tasks with improved accuracy & precision due to advancements in actuator technology. Additionally, robots can now adapt to changes in their surroundings and complete jobs more effectively due to intelligent actuators that integrate sensors and other cutting-edge technologies.
Due to the fact that Europe is a capital-intensive region, the demand for automation has expanded in a variety of industries, including the pharmaceutical industry. With increasing research & development activities in the medical and pharmaceutical industries and the development of technologies such as machine learning (ML), artificial intelligence (AI), and automation algorithms, the European pharmacy automation market is expected to expand at a rapid pace. In addition, as a result of government-sponsored investment programs for the pharmaceutical business, it is anticipated that the future of this sector will embrace the latest technology changes, such as pharmacy automation.
The Germany market dominated the Europe Automation Components Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $16,024.5 million by 2029. The UK market is anticipated to grow at a CAGR of 7.6% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 9.3% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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
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