Linear motion market estimated to grow at CAGR of 5.3%
NEW YORK, April 15, 2019 /PRNewswire/ -- Linear motion market estimated to grow at CAGR of 5.3% from 2018 to 2024
The linear motion market was valued at USD 3.2 billion in 2018 and is expected to reach USD 4.4 billion by 2024, at a CAGR of 5.3% during the forecast period. The drivers of the linear motion market include the increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry. Rising acquisitions and partnerships on linear motion technology, growing investments in industrial automation and robotics, and government initiatives to support industrial automation are key opportunities for the manufacturers and OEMs involved in the linear motion market. However, high initial cost of installation for low-volume production is the key restraining factor for market growth.
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Linear motion market for machining tools industry to account for major share of linear motion market during forecast period
In the machine tool industry, there are various applications of linear motion, such as tool changers, parts feeding systems, gantries, and others.Linear motion components are used for automation of these processes to offer high reliability and low maintenance solution for these applications.
These components focus on optimum performance of the equipment used to perform repetitive tasks.Thus, their accuracy and path-following capabilities provide precise results time-after-time, with greater flexibility than the other dedicated cutting machines.
Hence, these factors drive the linear motion market for the machining tools industry.
APAC to hold largest size of linear motion market during forecast period
APAC is expected to provide ample growth opportunities for the linear motion market as it is considered as a major manufacturing hub for most industries.China has been a potential market for all emerging technologies, including linear motion products.
Its massive manufacturing industries have contributed to the growth and prosperity of the country. High growth observed in machine tool production and other sectors related to the production of electronic products and automobiles, which includes electronics assembly, semiconductor machineries, and customized robots for different applications are some of the reasons for the growth of the linear motion market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people.
The breakup of the profile of primary participants has been given below:
• By Company Type: Tier 1 – 31%, Tier 2 – 37%, and Tier 3 –32%
• By Designation: C-Level Executives – 45%, Managers –36%, and Others – 19%
• By Region: North America – 32%, Europe – 30%, APAC – 24%, and RoW – 14%
THK Co., Ltd. (Japan), NSK Ltd. (Japan), HIWIN Technologies Corp. (Taiwan), Nippon Thompson Co., Ltd. (IKO) (Japan), Robert Bosch GmbH (Germany), Schaeffler Technologies AG & Co. KG (Germany), Rockwell Automation Inc. (US), Timken Company (US), Fortive (US), HepcoMotion (UK), and SCHNEEBERGER Group (Switzerland) are a few leading players in the linear motion market.
Research Coverage:
• By component, the linear motion has been segmented into linear guides, tracks and actuators, ball screws, linear motor and drives, and others. The others components includes controllers, control units, switching systems, socket and plug, and connection elements.
• By industry, the linear motion market has been segmented into medical and pharmaceuticals, machining tools, semiconductor & electronics, automotive, aerospace, food & beverages, and others (paper and pulp, and textile)
• The geographic analysis is done with regard to major 4 regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles, which discuss the basic views on the competitive landscape, emerging and high-growth segments of the linear motion market, and high-growth regions; and drivers, restraints, challenges, and opportunities pertaining to the linear motion market.
The report provides insights on the following pointers:
• Market penetration: Comprehensive information on linear motion components offered by top players in the overall linear motion market
• Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and product launches in the market
• Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for linear motion products and their adoption across regions
• Market diversification: Exhaustive information about untapped geographies, recent developments, and investments in the global linear motion market
• Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of leading players in the linear motion market
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