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Industrial Joysticks Market Research Report by Technavio Estimates Over $ 71 Million Growth During 2021-2025 | Europe to Emerge as the Largest Market

·3 min read

The new industrial joysticks market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Industrial Joysticks Market 2021-2025 (Graphic: Business Wire).

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"One of the primary growth drivers for this market is the increased demand for customized joysticks," says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the industrial joysticks market size to grow by USD 71.01 million during the period 2021-2025.

Industrial Joysticks Market Segment Highlights for 2020

  • The industrial joysticks market is expected to post a year-over-year growth rate of 1.75%.

  • Based on the product, the market saw maximum growth in the hydraulics joysticks segment in 2020. The segment is driven by the rise in oil and gas drilling activities worldwide.

  • The market growth in the segment will be significant over the forecast period.

Regional Analysis

  • 32% of the growth will originate from the Europe region.

  • The market growth in Europe is driven by the increasing demand for the automation of heavy vehicles in the oil and gas, maritime, and construction industries.

  • 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.

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  • The industrial joysticks market size is expected to accelerate at a CAGR of over 3% during the forecast period.

  • The industrial joysticks market is segmented by Product (Hydraulic industrial joysticks, Electric industrial joysticks, and Others) and Geography (Europe, North America, APAC, South America, and MEA).

  • The market is fragmented due to the presence of many established vendors holding significant market share.

  • The research report 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, and Spohn & Burkhardt GmbH & Co. KG.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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