Radio Remote Control Equipment Market Size, Share, Growth, Forecast 2030

Radio Remote Control Equipment Market

Radio Remote Control Equipment Market By Type (Joystick and Push-Button), By Application (Construction Crane, Forestry Mining, Industry & Logistics, Mobile Hydraulics, and Others), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Category: Semiconductor & Electronics Report Format : PDF Pages: 217 Report Code: ZMR-7451 Published Date: Aug-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 624.13 Million USD 1281.74 Million 9.47% 2022

Radio Remote Control Equipment Market

Radio Remote Control Equipment Industry Perspective:    

The global radio remote control equipment market size was evaluated at $624.13 million in 2022 and is slated to hit $1,281.74 million by the end of 2030 with a CAGR of nearly 9.47% between 2023 and 2030.

Global Radio Remote Control Equipment Market SizeRequest Free Sample

Radio Remote Control Equipment Market: Overview

Radio remote control equipment is used for controlling objects at a distance through the use of various radio signals transmitted by the equipment. Furthermore, the equipment is used with burglar alarms, gate openers, industrial automation systems, and automatic barrier systems. For the record, radio remote control devices make use of coding as well as FSK modulation. Moreover, the standard used by these devices is Z-Wave, Bluetooth, and Zigbee. The key parts of the equipment are the receiver and transmitter.

Key Insights

  • As per the analysis shared by our research analyst, the global radio remote control equipment market is projected to expand annually at the annual growth rate of around 9.47% over the forecast timespan (2023-2030)
  • In terms of revenue, the global radio remote control equipment market was evaluated at nearly $624.13 million in 2022 and is expected to reach $1,281.74 million by 2030.
  • The global radio remote control equipment market is anticipated to record massive growth over the forecast period owing to easy product availability, high strength, enhanced safety, and cost-efficiency.
  • In terms of type, the joystick segment is slated to register the fastest CAGR over the analysis period.
  • On the basis of application, the industry & logistics segment is predicted to dominate the segmental surge over the forecast period.
  • Region-wise, the North American radio remote control equipment market is projected to register the highest CAGR during the assessment timeline.

Global Radio Remote Control Equipment Market sizeRequest Free SampleRadio Remote Control Equipment Market: Growth Factors

Escalating demand for the safety of premises in firms can scale up the global market proceeds over 2023-2030

The need for enhancing operator safety & premise safety of various firms will steer the demand for radio remote control equipment. In addition to this, proficient working of radio remote control equipment will steer the expansion of the global radio remote control equipment market. Reportedly, the product assists the employees in having control during the operation of cranes. Escalating demand for improving communication, security, and cost-efficiency will prop up the market demand across the globe. Apart from this, product innovations are likely to contribute majorly towards the expansion of the global market in the years ahead. In April 2021, REMdevice S.r.l., a key player manufacturing industrial radio remote control devices, introduced the new DCS10, industrial remote control equipment that can transfer nearly 10 commands between industrial devices via radio signal when it is inconvenient for using cable control. Such moves are likely to boost global market trends in the upcoming years.

Radio Remote Control Equipment Market: Restraints

Growing susceptibility to product damage can impede product sales over the forecast period

The low sustainability of battery utilized in radio remote control equipment can impede the expansion of the radio remote control equipment industry across the globe. Moreover, the equipment is more prone to damage as the material used for manufacturing the equipment is rubber and plastic which can get easily damaged. This aspect can impede the expansion of the global industry. Moreover, the transmitters used in the equipment can get displaced, thereby severely impacting the sales of the equipment.

Radio Remote Control Equipment Market: Opportunities

Humungous demand for minimizing downtime costs can generate novel growth opportunities for the global market over 2023-2030

Growing demand for reducing downtime costs can open new growth avenues for the global radio remote control equipment market. Furthermore, the equipment helps transmitters from getting damaged, thereby enlarging the scope of the global market demand.

Radio Remote Control Equipment Market: Challenges

Escalating the need for huge initial investments can prove to be the biggest challenge for the global market

Changing government policies and a rise in the investment required for deploying the equipment can pose a huge challenge for the global radio remote control equipment industry demand along with impacting the equipment sales. Apart from this, supply chain disruptions can further impact raw material costs, thereby affecting the equipment demand. This, in turn, can prove to be a deterrence in the path of growth of the industry across the globe.

Radio Remote Control Equipment Market: Segmentation

The global radio remote control equipment market is sectored into type, application, and region.

In type terms, the global radio remote control equipment market is segregated into joystick and push-button segments. In addition to this, the joysticks segment, which accumulated nearly 57% of the global market share in 2022, is projected to register the highest gains in the upcoming years. The growth of the segment in the ensuing years can be due to ease of operation for enhancing operator experience as well as productivity.  

Based on the application, the global radio remote control equipment industry is bifurcated into construction crane, forestry mining, industry & logistics, mobile hydraulics, and others segments. In addition to this, the industry & logistics segment, which contributed remarkably towards the global industry share in 2022, is set to establish dominance in the global industry in the years to come. The segmental expansion over the assessment timeline can be due to the large-scale demand for radio remote control equipment in the industry & logistics sector in the years ahead.

Radio Remote Control Equipment Market: Report Scope

Report Attributes Report Details
Report Name Radio Remote Control Equipment Market Report
Market Size in 2022 USD 624.13 Million
Market Forecast in 2030 USD 1281.74 Million
Growth Rate CAGR of 9.47%
Number of Pages 217
Key Companies Covered HBC, JAY Electronique, Remote Control Technology, Scanreco, Hetronic Group, OMNEX(Eaton), Shanghai Techwell Auto-control Technology, Akerstroms, Tele Radio, Cattron Group, 3-ELITE PTE, Green Electric, Yijiu, Lodar, ITOWA, Yuding, Ikusi, Shize, NBB, Autec, and Wicontek.
Segments Covered By Type, By Application, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Radio Remote Control Equipment Market: Regional Insights

The Asia-Pacific region accounts for a key share of the global market over the analysis timespan

The Asia-Pacific, which accounted for more than two-fifths of the global radio remote control equipment market share in 2022, is anticipated to lead the global market revenue share over 2023-2030. The market expansion in the region over the assessment timeframe can be due to the presence of key equipment manufacturers in countries such as Taiwan, Japan, South Korea, and China. New product innovations have contributed majorly towards regional market expansion in recent years.

Furthermore, the radio remote control equipment industry in North America is anticipated to register the fastest CAGR in the assessment timespan. The key growth drivers of the industry in the sub-continent include the rise in the launching of new products and technological breakthroughs in countries such as Canada and the U.S.  

Radio Remote Control Equipment Market: Competitive Space

The global radio remote control equipment market profiles key players such as:

  • HBC
  • JAY Electronique
  • Remote Control Technology
  • Scanreco
  • Hetronic Group
  • OMNEX(Eaton)
  • Shanghai Techwell Auto-control Technology
  • Akerstroms
  • Tele Radio
  • Cattron Group
  • 3-ELITE PTE
  • Green Electric
  • Yijiu
  • Lodar
  • ITOWA
  • Yuding
  • Ikusi
  • Shize
  • NBB
  • Autec
  • Wicontek.

The global radio remote control equipment market is segmented as follows:

By Type

  • Joystick
  • Push-Button

By Application

  • Construction Crane
  • Forestry Mining
  • Industry & Logistics
  • Mobile Hydraulics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Radio remote control equipment is used for controlling objects at a distance through the use of various radio signals transmitted by the equipment. Furthermore, the equipment is used with burglar alarms, gate openers, industrial automation systems, and automatic barrier systems. For the record, radio remote control devices make use of coding as well as FSK modulation. Moreover, the standard used by these devices is Z-Wave, Bluetooth, and Zigbee. The key parts of the equipment are the receiver and transmitter.

The global radio remote control equipment market growth is owing to the need for enhancing operator safety & premise safety of various firms.

According to a study, the global radio remote control equipment industry size was $624.13 million in 2022 and is projected to reach $1,281.74 million by the end of 2030.

The global radio remote control equipment market is anticipated to record a CAGR of nearly 9.47% from 2023 to 2030.

The North American radio remote control equipment industry is set to register the highest CAGR over the forecasting timeline owing to the rise in the launching of new products and technological breakthroughs in countries such as Canada and the U.S.       

The global radio remote control equipment market is led by players such as HBC, JAY Electronique, Remote Control Technology, Scanreco, Hetronic Group, OMNEX(Eaton), Shanghai Techwell Auto-control Technology, Akerstroms, Tele Radio, Cattron Group, 3-ELITE PTE, Green Electric, Yijiu, Lodar, ITOWA, Yuding, Ikusi, Shize, NBB, Autec, and Wicontek.

The global radio remote control equipment market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the report explores the investor and stakeholder space to help companies makes data-driven decisions.

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