Global Industrial Remote Control Market to Fetch Over US$950 Million by 2025 – QY Research

Industry: Market Research

Trending report on Global Industrial Remote Control Market 2020-2026 with Key Driving Factors, Industry Leaders Profiles, Product Research, Size, Trends and Investments.

Los Angeles, CA (PRUnderground) March 9th, 2020

The global industrial remote control market is expected by QY Research to earn revenue of US$951.98 Mn by the end of 2025 as it registers a healthy CAGR of 6.26% between 2019 and 2025. Titled “Global Industrial Remote Control Market Report, History and Forecast 2015-2026,” a new report authored by QY Research digs deep into the future of the global industrial remote control market. The supply chain of the global industrial remote control market might be affected due to the temporary shutdown of forwarding and transportation companies in China because of the COVID-19 outbreak. In February 2020, Scanreco issued a notice of potential performance issues due to the current coronavirus epidemic.

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Top Drivers of Global Industrial Remote Control Market

High demand in turbine blower application: In October 2019, Tele Radio, an Allgon subsidiary, won an order covering radio remote control for turbine blowers from Buffalo Turbine.

Increasing application of radio remote control: Radio remote control systems are highly used in mobile hydraulics, firefighting, and other applications.

Strong use in building and construction industry: Industrial remote control is widely used in concrete batch plants, gravel, mining, and construction aggregate operations, and industrial mobile equipment applications such as two truck, pumper truck, and vacuum truck.

Wireless Remote Control to Continue to Gain Demand to Take Lead Globally

Based on product, the global industrial remote control market is segmented into corded remote control and wireless remote control. In 2019, wireless remote control accounted for more than 92% share of the global industrial remote control market. The report also offers analysis on application segments of the global industrial remote control market, viz. ports and maritime, oil and gas, mining, industrials, and others. In 2019, industrials secured approximately 44% share of the global industrial remote control market.

Europe to Stay Ahead of Competition as Players See Expansion Opportunities

Europe is anticipated to collect a substantial share of the global industrial remote control market. This could be due to the strong presence of leading manufacturers and stable growth environment for industrial groups. In February 2020, Autec Srl announced that it will exhibit various offerings, including remote control solutions, at LOGIMAT 2020 in Germany. The Europe market could also gain from the high demand for radio control systems, especially in the construction industry. Early in 2020, Allgon’s subsidiary Åkerströms won an order from Sweden’s Husqvarna Construction Products.

Furthermore, the establishment of new industrial remote control manufacturing and distribution facilities is predicted to strengthen the growth of the Europe market. In October 2019, Allgon established a new subsidiary for Tele Radio in France. In the previous month, Tele Radio strengthened its presence in Europe with the establishment of a new Russian subsidiary.

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Players to Launch New Products with Applications in Smart Machines Industry

Key industrial remote control companies covered in the report are HBC-radiomatic, Hysea Industrial Communications, Cattron, Itowa, Scanreco, Hetronic, Inc., Conductix-Wampfler, ABITRON Germany GmbH, Autec Srl, NBB Controls + Components GmbH, Allgon, IMET Srl, Magnetek, Danfoss, and Cavotec. In 2019, HBC-radiomatic, Cattron, and Scanreco were the top three players collecting 13.7%, 10.4%, and 7.3% shares of the global industrial remote control market.

Industrial remote control manufacturers are expected to develop new products to target sales opportunities in the autonomous and connected machines industry. In March 2020, FORT Robotics launched its new full-stack platform Oversight promising worker safety and advanced security for smart machines. The platform includes industrial remote control enabling multiple machine pairing with minimal friction and safety-critical wireless control transitions.

About QY Research

QY Research is a leading global market research and consulting company. Established in 2007 in Beijing, China, QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and custom research to help our clients in providing non-linear revenue models and make them successful. We are globally recognized for our expansive portfolio of services.

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