Report : Europe Industrial Automation Market Forecast to 2030 – Regional Analysis – by Component (Hardware and Software), System (Supervisory Control and Data Acquisition, Distributed Control System, Programmable Logic Control, and Other), and End User (Oil & Gas, Automotive, Food & Beverages, Chemical & Materials, Aerospace & Defense, and Others)
At 7.3% CAGR, the Europe Industrial Automation Market is Speculated to be worth US$ 94,606.0 Million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Europe industrial automation market was valued at US$ 53,689.1 million in 2022 and is expected to reach US$ 94,606.0 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Rising uptake of automation across food & beverage industry and integration of robotics in the construction industry are among the critical factors attributed to the Europe industrial automation market expansion.
Construction is one of the most manual-intensive industries, with physical labor being the primary source of productivity. Robots do not yet play a substantial role in any stage of a building's lifecycle, whether it be new commercial construction, refurbishment, or deconstruction. However, with rising automation across all industries, the global construction sector is also experiencing a surge in investment in automated solutions, such as robots.
Several types of robots are being extensively adopted across the construction industry are 3D printing, demolition, and remote-controlled or autonomous vehicles. Since automation across the construction industry is in a very nascent stage, it is expected to propel over the coming years, thereby supporting the market. Due to these opportunities across the sector, several companies have invested heavily in developing advanced construction robots. These factors further fuel the adoption of robots across the construction industry, which is expected to contribute to the market's growth over the forecast period.
On the contrary, the requirement of high initial investment hampers the Europe industrial automation market.
Based on component, the Europe industrial automation market is segmented into hardware and software. The hardware segment held 67.7% share of Europe industrial automation market in 2022, amassing US$ 36.33 billion. It is projected to garner US$ 67.02 billion by 2030 to expand at 8.0% CAGR during 2022–2030. The hardware is further sub segmented into motors and drives, robots, sensors, machine vision systems, and others.
Based on system, the Europe industrial automation market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control, and other. The distributed control system segment held 28.1% share of Europe industrial automation market in 2022, amassing US$ 15.06 billion. It is projected to garner US$ 28.43 billion by 2030 to expand at 8.3% CAGR during 2022–2030.
Based on end user, the Europe industrial automation market is segmented into oil & gas, automotive, food & beverage, chemical & materials, aerospace & defense, and others. The automotive segment held 27.7% share of Europe industrial automation market in 2022, amassing US$ 14.88 billion. It is projected to garner US$ 28.84 billion by 2030 to expand at 8.6% CAGR during 2022–2030.
Based on country, the Europe industrial automation market has been categorized into France, Germany, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 35.6% share of Europe industrial automation market in 2022. It was assessed at US$ 19.12 billion in 2022 and is likely to hit US$ 37.37 billion by 2030, exhibiting a CAGR of 8.7% during 2022–2030.
Key players operating in the Europe industrial automation market are ABB Ltd, Bosch Rexroth AG, Emerson Electric Co, Hitachi Ltd, Honeywell International Inc, Mitsubishi Electric Corp, OMRON Corp, Rockwell Automation Inc, Schneider Electric SE, and Siemens AG, among others.
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