SAN FRANCISCO, Oct. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Food Automation - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 5; Released: April 2021
Executive Pool: 20376
Companies: 41 - Players covered include ABB Ltd.; Emerson Electric Company; Fortive Corporation; GEA Group AG; Mitsubishi Electric Corporation; Rexnord Corporation; Rockwell Automation, Inc.; Schneider Electric SA; Siemens AG; Yaskawa Electric Corporation; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Application (Dairy, Bakery, Beverages, Fruits and Vegetables, Meat, Poultry & Seafood, Other Applications); Function (Packaging & Repackaging, Palletizing, Sorting & Grading, Processing, Other Functions); Type (Motors & Generators, Discrete Controllers & Visualization, Rotary & Linear Products, Other Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Food Automation Market to Reach $13.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Food Automation estimated at US$9.7 Billion in the year 2020, is projected to reach a revised size of US$13.6 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Motors & Generators, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$6.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Discrete Controllers & Visualization segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.1 Billion in 2021, While China is Forecast to Reach $2.4 Billion by 2026
The Food Automation market in the U.S. is estimated at US$3.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2026 trailing a CAGR of 5.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Rotary & Linear Products Segment to Reach US$2.1 Billion by the year 2026
In the global Rotary & Linear Products segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion in the year 2020 will reach a projected size of US$1.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™
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