The Mexico factory automation and industrial controls market size was valued at USD 1.65 billion in 2022 and is expected to surpass USD 3.47 billion by 2031, expanding at a CAGR of 8.6% during the forecast period, 2023–2031. The 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.
Market Trends, Drivers, Restraints, and Opportunities
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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.
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Rapid growth of the automotive manufacturing industry is major factor fueling the market during the forecast period.
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Low cost of labor expenses in the country is anticipated to boost the Mexican absolutely automation and commercial controls market.
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High cost of computerized systems as automation device requires better capital expenditure are projected to hamper the market growth during the forecast period.
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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.
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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.
Scope of Factory Automation and Industrial Controls Market Report
The report on the Mexico factory automation and industrial controls market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Factory Automation and Industrial Controls Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Field devices [Robotics and Sensors], Industrial Control System) and End Users (Petrochemicals, Utility, chemical, and Automotive)
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Country
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Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Honeywell International Co., General Electric Co., ABB Ltd., Emerson Electric Company, Siemens AG, and Robert Bosch Gmbh
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Factory Automation and Industrial Controls 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.
Segments
The Mexico factory automation and industrial controls market has been segmented on the basis of
Products
- Field Devices
- Industrial Controllers
End Users
- Petrochemical
- Chemical
- Utility
- Automotive
Country
Key Players
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.
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