New York, US, March 07, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Linear Motion System Market Research Report: By Application, By, And By Region- Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 14.22 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 7.80% during the assessment timeframe.
Linear Motion System Market Key Players
Eminent industry players profiled in the global linear motion system market report include
- Bosch Rexroth AG (Germany)
- Rollon Spa (Italy)
- Thomas Industries
- Schneeberger AG (Switzerland)
- SKF AB (Sweden),
- Nippon Bearing Co. Ltd (Japan)
- Schneider Electric Motion USA (US)
- Hepco Motion (England)
- Lintech (US)
- Bishop-Wisecarver (US).
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|Revenue forecast in 2030||USD 14.22 billion|
|Growth Rate||CAGR of 7.80% from 2022 to 2030|
|Key Market Opportunities||The rapidly growing demand for energy-efficient mass transit drives has increased the adoption of hybrid and fully electric vehicles.|
|Key Market Drivers||Rapid industrialization. The growing demand for digital transformation. The adoption of automated systems in different industries.|
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Linear Motion System Market Drivers
Increasing Need in Healthcare Industry to Boost Market Growth
The escalating product demand in the healthcare industry for lab testing applications, like computed tomography (CT) scanners, magnetic resonance imaging (MRI), and X-ray equipment, favorably influences the growth of the linear motion system market.
Linear Motion System Market Opportunities
Technological Developments to offer Robust Opportunities
The incorporation of automated operation, usage of internet of things & artificial intelligence in linear motion system goods can all increase the efficiency of the system. Throughout the forecast period, this is predicted to produce profitable chances for the expansion of the market.
Besides, shift in technology to pneumatic systems from hydraulic towards electromechanical systems to attain higher reliability, precision, efficiency and flexibility with lesser energy use will also add market growth.
Restraints and Challenges
High Installation Cost to act as Market Restraint
The high installation cost may act as market restraints over the forecast period. The high cost of a linear motion system is primarily caused by additional parts that must be taken into account while constructing it, such as structural support, guides, drives, lubrication, seals, and accessories between two points. Besides, the fluctuating raw material cost may also impede market growth.
Linear Motion System Market Segmentation
The global linear motion system market is bifurcated based on application and type.
By application, machining tools will lead the market over the forecast period due to the development in the manufacture of the CNC Machines for various purposes such as grinding, boring, & lathe machines. The need for lathe systems especially from the auto industry is predicted to increase, which will boost sales of motion equipment. The automotive sector uses lathes for a variety of parts, including gearboxes, CV joints, camshafts, and crankshafts.
By type, multi-axis linear motion system will dominate the market over the forecast period. The multi-axis linear motion system provides more than a single linear direction of motion and can be applied to a variety of target applications at the same time. Excellent positioning and repeat precision, in addition to the appropriate motion dynamics, in fact are the elements that are boosting this integration system's popularity. Because the multi-axis system lacks an AC to DC rectification portion, multi-axis drives often cost less than the single-axis equivalents. The multi-axis approach often uses less room on the control cabinet panel. These elements fuel the segment's expansion.
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Automation technology adoption is being aided by the COVID-19 pandemic and the likelihood of upcoming pandemic waves. By promoting social isolation in the workplace and permitting remote work from home, these technologies, such as automation, robotics, and information and communication technology, allowed the firms to continue to run. Due to increased incentives to replace labor with capital because of the COVID-19 pandemic, automation technology installation and development are projected to intensify.
Linear Motion System Market Regional Analysis
APAC to Lead Linear Motion System Market
Due to rising industrial activity, technological advancements, increased government investment in industrial automation system, & the presence of top players offering these systems, the Asia-Pacific region is predicted to experience significant growth in the linear motion system market. Many industries, including those in the automotive, food and beverage, pharmaceutical, and machine production, are based in the area. In addition to this, the area is home to a sizable semiconductor sector. Also, the rise in the manufacturing of diverse linear motion systems is a result of the rising degree of miniaturization in a variety of application domains. The market is also anticipated to be driven by the increased adoption of linear actuator and other systems. Due to the extensive deployment of the electronic and automotive production sectors and the rising adoption of motion systems, China dominates the region. The industry under study has enormous potential for expansion since other economies within the region, like India, also experience rapid market growth. The area started to grow as a producer of passenger cars. In addition, the list of the biggest automakers in the world was completed by Japan, India, & South Korea. Major car manufacturers may be found in the majority of these nations. The market for linear motion systems is anticipated to expand in the area because it caters to the automobile industry. Due to its dominant position in the manufacturing of consumer electronics, semiconductors, and other telecommunications equipment and gadgets, Asia-Pacific is one of the major markets for semiconductor & electronic parts worldwide.
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In order to diversify their product lines, major market players are spending a lot of money on R&D. This will propel the market to further expansion. Market players are engaging in a number of strategic initiatives to improve their worldwide footprint in conjunction with key industry changes, such as new product releases, mergers and acquisitions, contractual agreements, higher investments, and collaboration with other organizations. Competitors in the Linear Motion System market must offer reasonably priced items if they want to expand and survive in a sector that is becoming highly competitive.
February 2023- A family of the compact linear system was invented by Thomson Industries Inc., making it simpler for motion designers to perform complicated applications in constrained places. With adaptable, tried-and-true Thomson components, designers now have the freedom to create applications that require thrust and bearing support in a single, small unit.
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