DUBLIN--(BUSINESS WIRE)--The "Machine Control System Market by Type (Total Stations, Global Navigation Satellite Systems, Laser Scanners, Sensors), Equipment (Excavators, Loaders, Graders, Dozers, Scrapers, Paving Systems), Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The machine control system market is expected to grow from USD 4.5 billion in 2019 to USD 6.6 billion by 2024, growing at a CAGR of 8.16%.
Major factors driving the machine control system market growth are the elimination of the need for bulk earthworks set out and survey pegging using machine control systems and the need for faster work and more efficiency during tighter timelines. However, high initial investment and a dearth of technical expertise are the factors that hinder the market growth.
Rising demand for machine-guided technologies in emerging economies in APAC create opportunities for market players, whereas maintaining reliability and accuracy of data offered by machine control systems based on GNNS technology is a major challenge for these market players.
Topcon (Japan), Trimble (US), Hexagon (Sweden), MOBA Mobile Automation (Germany), Hemisphere GNSS (US) and Eos Positioning Systems (US) are a few major players in the machine control system market.
Infrastructure vertical is expected to hold largest share of machine control system market during forecast period
The infrastructure vertical is expected to hold the largest share of the machine control system market during the forecast period. In infrastructural projects, machine control solutions are primarily used while laying rail tracks, banking of roads, building tunnels through mountains or underwater, building airports and airstrips, and building bridges, among various other tasks.
Population growth and internal migration in APAC over the past decade have prompted governments to continue to increase expenditure on infrastructure. APAC has also been witnessing a growing number of airports, dams, hydroelectric projects, roads, and bridges. The Middle East has also seen tremendous growth in infrastructure in the past 2 decades; the infrastructure spending in the region is projected to continue in the next 5 years.
The market for machine control systems deployed in excavators is expected to hold the largest share during the forecast period
The market for machine control systems deployed in excavators is expected to hold the largest share during the forecast period. Excavators are used for several purposes, such as digging, material handling, forestry work, demolition, general grading, mining, and snow removal. It consists of a boom, dipper (or stick), bucket, and cabin on the rotating platform, which is known as house.
The movements of the excavator are accomplished by hydraulic fluids, cylinders, and motors. The market for excavators is largely driven by its benefit of faster, more precise, and more efficient excavation. Excavators usually have a control system mounted on them to enhance flexibility, accuracy, and efficiency at the construction site.
Machine control system market in APAC is projected to hold the largest share and grow at highest CAGR during forecast period.
Machine control system market in APAC is projected to hold the largest share and grow at highest CAGR during forecast period. This market is further divided into China, Japan, and the Rest of APAC. Rest of APAC primarily includes India, Australia, Taiwan, Singapore, Thailand, Malaysia, Indonesia, Vietnam, and the Philippines. China is the largest market among all APAC countries. Advancements in agricultural practices involving precision farming have accelerated growth of the agriculture industry.
The Australian government is enhancing transport systems, and use of machine-guided solutions in the transportation industry is expected to grow. Australian rail is among the most modern and sophisticated transport in the world. Rapid urbanization and development and expansion of new cities are the key factors driving the growth of the infrastructure sector, including construction and transportation.
Key Topics Covered
1.1 Study Objectives
1.3 Study Scope
1.5 Package Size
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Machine Control System Market
4.2 Machine Control System Market, By Type
4.3 Machine Control System Market, By Equipment
4.4 Machine Control System Market for Excavators, in Terms of Volume, By Type and Region
4.5 Machine Control System Market, By Geography
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Elimination of Need for Bulk Earthworks Setout and Survey Pegging Using Machine Control Systems
220.127.116.11 Need for Faster Work and More Efficiency During Tighter Timelines
18.104.22.168 Safety Concerns Related to Workers and Heavy Construction Machinery
22.214.171.124 High Initial Investment
126.96.36.199 Dearth of Technical Expertise
188.8.131.52 Growing Demand for Machine Guided Technologies in Developing Countries in APAC
184.108.40.206 Maintaining Reliability and Accuracy in Data Provided By Machine Control Systems Based on GNSS Technology
6 Machine Control System Market, By Type
6.2 Total Stations
6.2.1 Total Stations are Used for 3D Grade Control Systems
6.3 Global Navigation Satellite Systems (GNSS)
6.3.1 GNSS is the Most Commonly Used Machine Control System
6.4.1 Lasers are Mostly Used to Provide Elevation Control
6.5.1 Angle Sensors and Rotational Sensors are Used for Machine Control System
7 Machine Control System Market, By Equipment
7.2.1 Excavators are Used for Several Purposes, Such as Digging, Material Handling, Forestry Work, Demolition, and General Grading
7.3.1 Loaders are Mostly Used in Construction to Move Construction Material, and Demolition Remains
7.4.1 Graders are Used to Precisely Level the Ground
7.5.1 Dozers are Used in Mines, Quarries, Heavy Industrial Engineering Projects, and Farms
7.6.1 Scrapers are Used in Earthmoving, Mining, Construction, and Agriculture Applications
7.7 Paving Systems
7.7.1 Machine Control Systems for Paving Systems Comprise Sonic Sensors, Slope Sensors, Contact Sensors, 3D Slopes, and 3D Elevation Control
8 Machine Control System Market, By Vertical
8.2.1 Infrastructure is the Largest Vertical for Machine Control Systems Market
8.3.1 Commercial Vertical is Expected to Grow at Fastest Rate in Machine Control Systems Market
8.4.1 Residential is One of the Fastest Growing Verticals for Machine Control System
8.5.1 Industrial is an Upcoming Vertical for Machine Control System
9 Geographic Analysis
9.2 North America
220.127.116.11 US is Expected to Continue to Command the Machine Control System Market in North America
18.104.22.168 Factors Such as High Demand for Technologically Advanced Equipment Drive Machine Control Market in Canada
22.214.171.124 Expansion in Construction Activities Coupled With the Government Support is Driving the Demand for Machine Control System in Mexico
126.96.36.199 Germany is A Major Market for Machine Control System in Europe
188.8.131.52 Increasing Government Initiatives to Meet Infrastructure Demands is Expected to Drive the Machine Control System Market in the UK
184.108.40.206 Government's Investment in Construction Industry Expected to Drive the Machine Control System Market in France
9.3.4 Rest of Europe (RoE)
9.4 Asia Pacific (APAC)
220.127.116.11 China Accounts for the Largest Share of the Machine Control System Market in APAC
18.104.22.168 Growing Investments in Residential and Infrastructure Markets are Expected to Boost Machine Control System Market in Japan
9.4.3 Rest of APAC
9.5 Rest of the World (RoW)
9.5.1 Middle East & Africa (MEA)
22.214.171.124 Key Countries Driving Machine Control System Market in Middle East & Africa Include Qatar, Israel, Saudi Arabia, and the UAE
9.5.2 South America
126.96.36.199 Rapid Construction of Residential and Commercial Buildings are Expected to Drive the Demand for Machine Control System Market in South America
10 Competitive Landscape
10.2 Ranking Analysis of Key Players in Machine Control System Market
10.3 Competitive Situations and Trends
10.3.1 Product Launches
10.3.2 Agreements, Partnerships, Collaborations, & Contracts
10.4 Competitive Leadership Mapping, 2018
10.4.1 Visionary Leaders
10.4.2 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profiles
11.2 Machine Control System Providers
11.2.1 Hexagon (Leica Geosystems AG)
11.2.2 Topcon Corporation
11.2.3 Trimble Inc.
11.2.4 Moba Mobile Automation AG
11.2.5 Hemisphere GNSS
11.2.6 Prolec Ltd.
11.2.7 EOS Positioning Systems
11.3 Construction Equipment Providers
11.3.1 Komatsu Ltd.
11.3.3 Volvo Construction Equipment
11.3.6 Kobelco Construction Machinery Co. Ltd.
11.3.7 Hitachi Construction Machinery Co. Ltd.
11.3.8 Hyundai Construction Equipment Co. Ltd.
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