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Industrial Joysticks Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR46614
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The industrial joysticks market size has the potential to grow by USD 71.01 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.30%. 

This report provides a detailed analysis of the market by product (hydraulic industrial joysticks, electric industrial joysticks, and others), geography (Europe, North America, APAC, South America, and MEA), and key vendors. 

Market Overview

Industrial-Joysticks-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Althen Sensors & Controls NL
  • Curtiss-Wright Corp.
  • Danfoss AS
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • J.R. Merritt Controls Inc. 
  • MEGATRON Elektronik GmbH & Co. KG
  • Parker Hannifin Corp.
  • Robert Bosch GmbH
  • Spohn & Burkhardt GmbH & Co. KG

 

The industrial joysticks market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increased demand for customized joysticks to achieve growth opportunities. However, factors such as lack of skilled machine operators will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the industrial joysticks market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This industrial joysticks market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Industrial Joysticks Market: Key Drivers and Trends

 

  • The demand for customized industrial joysticks from manufacturing industries is rising.
  • The maritime, construction, and oil and gas industries require customized industrial joysticks to control different operations in their plant equipment. 
  • To take advantage of this opportunity, vendors are providing uniquely customized joysticks as per the end-user requirements with more user-friendly features such as high-quality design, excellent touch and feel, protection from electromagnetic interference (EMI), and safety
  • In the heavy machinery segment, the demand for better machine control operations will augment growth in the global industrial joysticks market during the forecast period.
  • The development of operator chair systems is one of the key industrial joysticks market trends.
  • Integrated systems provide adjustability and switches for operator safety and comfort, taking ease-of-use and efficiency to new levels while using industrial joysticks. 
  • The combined operating system structure comprises an assembly of different functions to enhance comfort and minimizes stressful seating spots for drivers and operators.
  • Consequently, the rapid adoption of operator chair systems is expected to induce growth in the global industrial joysticks market in the coming years.

 

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Industrial Joysticks Market: Segmentation by Geography

Industrial-Joysticks-Market-Market-Share-by-Region-2020-2025

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32% of the market’s growth will originate from Europe during the forecast period. The UK is one of the key markets for industrial joysticks in Europe. Market growth in this region will be slower than the growth of the market in APAC, North America, and South America.

The extensive demand for the automation of heavy vehicles in the oil and gas, maritime, and construction industries is one of the prime factors that will facilitate the industrial joysticks market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Industrial Joysticks Market: Segmentation by Product

Industrial-Joysticks-Market-Market-Share-by-Product-2020-2025

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Hydraulic joysticks are mostly used in heavy industries like maritime and oil and gas. Thus, the rise in oil and gas drilling activities and contracts will drive the demand for hydraulic industrial joysticks. The reason for the increasing use of these types of joysticks is the simplicity of operation, which just involves controlling pilot-operated valves directly and without electronic controls. Hence, the growth rate of the market segment is expected to be fast during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial joysticks market size.   

 

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Industrial Joysticks Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial joysticks market growth during the next five years
  • Precise estimation of the industrial joysticks market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial joysticks industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial joysticks market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Hydraulic industrial joysticks - Market size and forecast 2020-2025
  • Electric industrial joysticks - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Althen Sensors & Controls NL
  • Curtiss-Wright Corp.
  • Danfoss AS
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • J.R. Merritt Controls Inc. 
  • MEGATRON Elektronik GmbH & Co. KG
  • Parker Hannifin Corp.
  • Robert Bosch GmbH
  • Spohn & Burkhardt GmbH & Co. KG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The industrial joysticks market growth will increase by $71.01 million during 2020-2025.
The industrial joysticks market is expected to grow at a CAGR of 3.30% during 2020-2025.
Technavio has segmented the industrial joysticks market by product (Hydraulic industrial joysticks, Electric industrial joysticks, and Others) and geographic (Europe, North America, APAC, South America, and MEA).
Althen Sensors & Controls NL, Curtiss-Wright Corp., Danfoss AS, Eaton Corporation Plc, Emerson Electric Co., J.R. Merritt Controls Inc. , MEGATRON Elektronik GmbH & Co. KG, Parker Hannifin Corp., Robert Bosch GmbH, Spohn & Burkhardt GmbH & Co. KG are a few of the key vendors in the industrial joysticks market.
Europe will register the highest growth rate of 31.57% among the other regions. Therefore, the industrial joysticks market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the industrial joysticks market growth are:
  • Increased demand for customized joysticks
The industrial joysticks market vendors should focus on grabbing business opportunities from the hydraulic industrial joysticks segment as it accounted for the largest market share in the base year.
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