Global industrial automation market to surpass $200 billion by 2015
The global industrial automation market is expected to reach $159.8 billion in 2012, a growth of 9.5 per cent, according to IMS Research, recently acquired by IHS Inc. The same market is predicted to reach more than $200 billion by 2015.
‘Several countries in Europe have slipped back into recession in 2012 and with the potential of Greece exiting the Eurozone, European markets have continued to be plagued by uncertainty and instability,’ said Sarah Sultan, research analyst at IMS Research. ‘Though austerity measures in Europe and in the US have impacted public investment into automation equipment, large declines in these markets are unlikely as most investment in industrial automation comes from the private sector.’
The US economy has improved substantially, and both machinery production and end equipment markets are performing well in the beginning of the year, according to IHS. Machinery production in the US had a very strong first quarter with approximately 8 per cent growth, compared to the first quarter of 2011. The Americas region in total comprised of North and South America, is poised for strong growth in industrial automation equipment in 2012, and performed the best in the first quarter according to IHS's quarterly equipment trackers with positive growth across several equipment types compared to the first quarter of 2011.
‘Combined, the Americas and Asia Pacific regions account for 65 per cent of the global market for industrial automation electronics,’ Sultan added. ‘Asia is the largest consumer of industrial automation products, and the relative strength of its economy in 2012 is predicted to lead to spending of $64 billion, which represents nearly 40 per cent of the global market.
‘Although China’s forecast GDP growth of 8.2 per cent in 2012 is the slowest it’s been in years, activity is expected to pick up in the second half of 2012 due to a recovery in Europe and increased governmental policies influencing industrial automation in China. Resurgence in the Chinese economy will also influence Latin America, which has slowed recently due to a strong reliance on investment from China.’