(Entertainment-NewsWire.com, September 05, 2018 ) Food Automation market size will grow from USD 8.30 Billion in 2017 to USD 12.49 Billion by 2023, at an estimated CAGR of 7.04%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The growth of this market can be attributed to the inclination of consumers towards processed and ready to eat foods, technological advancements in automation and stringent international food safety regulations. The motors & generators segment, on the basis of various types, accounted for the largest market share in 2017. The motors & generators segment is mainly driven by their multi-functional nature. The increasing significance of motors in motion control applications involving high-pressure wash-down and high torque applications with precise motion control has greatly enhanced their functionality. Smooth and efficient functioning of systems is promoted by using generators in the food industry. It is also coupled with the increasing awareness about the efficient energy management benefits of generators. The discrete controllers & visualization segment, on the basis of type, accounted for the second highest market share in 2017 owing to its comprehensive nature to offer integrated and flexible production options to manufacturers.
· By Market Players: Mitsubishi Electric Corporation , ABB Ltd , Rockwell Automation, Inc. , Siemens AG , Yokogawa Electric Corporation , Schneider Electric SE , GEA Group , Fortive Corporation , Yaskawa Electric Corporation , Rexnord Corporation , Emerson Electric Co. , Nord Drivesystems
· By Type: Motors & Generators , Motor Controls , Discrete Controller Systems & Visualization , Rotary & Linear Products , Others
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