Global Linear Motion System Market To Be Driven By The Heightened Demand In The Automotive Industry In The Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global Linear Motion System Market Share, Size, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the linear motion system market, assessing the market based on its segments like type, end-user industry and major regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size: USD 3.45 billion
- Forecast CAGR (2022-2027): 4.83%
- Forecast Market Size: USD 4.57 billion
On the basis of end-user industry, the automotive industry is expected to hold a significant market share during the forecast period. This can be attributed to the rapid adoption of linear motion systems in the automotive industry, which aid in the achievement of seamless and agile processing. Several linear motion systems are well suited for applications that require speed and accuracy, increasing their industry demand.
Furthermore, increased demand for transportation is expected to aid market growth during the forecast period. Meanwhile, rising demand for linear motion systems in the manufacturing industry is expected to fuel market growth in the coming years.
Linear Motion System Industry Definition and Major Segments
Linear motion systems, also known as linear motion bearings, are devices that can only move in one direction and come in a variety of designs. These systems can be motorised or non-motorized, allowing for linear movement. They are suitable for use in machine slides, stages, and tables. Handling and packaging, food processing, factory automation, and printing and scanning operations are just a few of the major applications for linear motion systems.
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The global linear motion system market can be segmented on the basis of type and end-user industry.
Based on type:
- Single-Axis Linear Motion System
- Multi-Axis Linear Motion System
Based on end-user industry:
- Electronics and Semiconductor
On the basis of regional markets, the segmentation of the linear motion system industry includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Linear Motion System Market Trends
The growing need for automation in manufacturing applications around the globe is bolstering the market’s prospects. Linear motion systems are frequently employed because of their ability to meet quality inspection criteria, as well as their increased precision, adaptability, reliability, and efficiency. Additionally, growing awareness of linear motion systems’ eco-friendliness has accelerated their acceptance across a variety of industrial verticals, including automotive, packaging, and manufacturing. This, in turn, contributes to the reduction of carbon emissions, hence promoting market growth. Apart from this, the widespread adoption of the Internet of Things (IoT) and machine learning (ML) has enabled users to collect machine data, monitor and evaluate system performance, and assure timely maintenance and early identification of faults, all of which have fueled the market’s rise. Additionally, the growing need for laboratory testing equipment in the healthcare business, such as magnetic resonance imaging (MRI), computed tomography (CT) scanners, and X-ray machines, is positively boosting market growth. Additional factors, such as rapid growth in the automotive industry and the implementation of different government initiatives aimed at advancing the information technology (IT) infrastructure, are expected to propel the market forward.
Key Market Players
The major players within the market are Bosch Rexroth AG, Ewellix AB, Hiwin Corporation, Thomson Industries Inc., NSK Ltd. and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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