123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Mexico Factory Automation And Industrial Controls Market – Industry Analysis, Trends, And Forecast | Growth Market Reports

Profile Picture
By Author: Shreya09
Total Articles: 2
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The Mexico factory automation and industrial controls market size was valued at USD 1400.2 million in 2020 expanding at a CAGR of 8.6 % during the forecast period, 2021–2028. Growth of the market is attributed to a fast appropriation of manufacturing plant mechanization and mechanical control structures in Latin America.

The factory computerization and modern control is a rising design in the business creation, which manages the cost of shrewd assembling foundation. Business oversees and production line robotization offers an ideal mix of mechanical added substances and contraptions for the data age market.

Get Exclusive Sample Report at: https://growthmarketreports.com/request-sample/1498

Market Trends, Drivers, Restraints, and Opportunities

Increasing adoption of smart systems for the automation of factories for planning, supply chain logistics, and product improvement are expected to boost the market during the forecast period.
Rapid growth of the automotive manufacturing industry is major factor fueling the market during the forecast period.
Low cost of labor expenses in the country ...
... is anticipated to boost the Mexican absolutely automation and commercial controls market.
High cost of computerized systems as automation device requires better capital expenditure are projected to hamper the market growth during the forecast period.
Lack of skilled labor for solving errors or problems in smart machines to handle the manufacturing process smoothly act as major factors that can hamper the market growth during the forecast period.
R&D investment and technological advancement of automatic systems that can automate the production process efficiently and maximize the production are expected to offer lucrative opportunities for the market players.
Market Segment Insights

The robotics segment is projected to represent a key market share

Based on products, the factory automation and industrial controls market is segmented into field devices and industrial controls. The field devices segment is further segregated into robotics and sensors. The robotics segment is expected to represent a key share of the market during the forecast period owing to Mexico being a major production hub of automotive parts and car manufacturers. Mexico is home to 20 plus automotive assembly plants such as BMW, Mercedes, Audi, passage, Chrysler, and Nissan. They are pressurizing local plants to increase the quality and improve throughput, this is driving robotization and advanced mechanics market. The Mexican manufacturing industry has boosted and digitalized radically to improve productivity. In order to support nations developing manufacturing industry, the connection for propelling robotization has delivered Mexico to valuable asset the expansion of the creating area with mechanical technology.

The utility segment is projected to represent a key market share

Based on end users, the factory automation and industrial controls market is fragmented into automotive, chemical, petrochemical, and utility. The utility segment is expected to hold a major market share owing to the ministry of energy. The market size was valued at MXN 2039.89 million during the forecast period owing to majority of investment in power transmissions and power generation infrastructure. Since the nation liberated its solidarity region in 2014, it opened doors to a lot of private investment into the sector. In March 2018, ATCO, a remarkable Canadian company, along with Mexico-based absolutely RANMAN power, reported an investment of CAD 70 million to construct new 26-megawatt (mw) cogeneration plant, which is anticipated to be operational till 2020.

For Any Questions On This Report: https://growthmarketreports.com/enquiry-before-buying/1498

Competitive Landscape

Key players competing in the market include Honeywell International Co., General Electric Co., ABB Ltd., Emerson Electric Company, Siemens AG, and Robert Bosch Gmbh.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.

About Growth Market Reports:

GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

Contact:

Growth Market Reports

Phone: +1 909 414 1393

Email: sales@growthmarketreports.com

Web: https://growthmarketreports.com

Follow Us: LinkedIn | Twitter

Total Views: 113Word Count: 693See All articles From Author

Add Comment

Business Articles

1. Connect Your Clients In A Better Way With Digital Business Cards
Author: Angus Carruthers

2. Design Interiors Elevates Kitchen Living In Brighton With Bespoke, Functional Designs
Author: Kitchen Brighton

3. Make Your Small Business Run Smoothly With Telephone Answering Services
Author: Eliza Garran

4. Finding The Best Business Broadband Providers With These Tips
Author: Julian Serle

5. 3 Major Benefits Of Partnering With A Hosted Voip Service Provider
Author: Julian Serle

6. Understanding E-commerce Content Compliance: A Seller’s Guide
Author: Actowiz Metrics

7. Lucintel Forecasts The Cloud Orchestration Market In Germany To Reach $59 Billion By 2031
Author: Lucintel LLC

8. Lucintel Forecasts The Circuit Breaker Tester Market In United States To Reach $2 Billion By 2031
Author: Lucintel LLC

9. Leed, Estidama & Beyond: What A Green Building Consultant In Dubai Can Do For You
Author: GREEN BUILDING

10. Lucintel Forecasts The Circuit Breaker Tester Market In Japan To Reach $2 Billion By 2031
Author: Lucintel LLC

11. Mwhat To Look For In An Expense Management Software
Author: TrackHr App

12. Industrial Cleaning Contractors Limited Delivers Expert Industrial Painting And Dilapidations Services Across The Uk
Author: Expert Support

13. Lucintel Forecasts The Circuit Breaker Tester Market In Germany To Reach $2 Billion By 2031
Author: Lucintel LLC

14. How Proposal Writing Company Can Be Contributing In The Growth Of Your Business
Author: Mark Twain

15. Professional Proposal Writing Services And Succeed In Business, Here Is How!
Author: Mark Twain

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: