Mechanical components are the building blocks of factory automation equipment and processes, many of these components are interdependent and form a solution for any process automation in production, assembly lines, warehousing and others.
The global process automation market revenue is expected to grow from $87.67 billion in 2013, to $119.29 billion in 2018, at an estimated CAGR of 6.4% from 2013 to 2018
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.
Strong automotive CAPEX in the U.S. is driving growth in the market with respect to robotics.
Increasing installation and adoption of smart devices are the factors driving the growth of the industrial and factory automation market during the forecast period 2019 to 2025.
The global process automation market size was at $65 billion in FY 2018. And, the demand is increasing at a progressive CAGR of 7% during the forecast period of 2019 to 2025.
Continuing positive outlook for the construction industry is a huge market opportunity for new equipment whereas existing ageing infrastructure presents opportunities for the modernization service segment.
Higher efficiency of these motors coupled with low maintenance costs has resulted in increase in demand for various applications.
Enterprise Manufacturing Intelligence can be defined as software that is used by many process and discrete industries for bringing an organizationâ€™s
The Occam process technology is Restriction of Hazardous Substances Directive (RoHS)-compliant.