According to the new market research report “Linear Motion Market by Component (Linear Guide, Actuators, Ball Screws, Linear Motors), Industry (Medical & Pharmaceuticals, Semiconductors & Electronics, Aerospace, Food & Beverages, Machining Tools, Automotive), Geography – Global Forecast to 2024″ This market is expected to reach from USD 3.2 billion in 2018 to USD 4.4 billion by 2024, at a CAGR of 5.3%. The increasing need for quality inspection and automation, reduced time-to-market, and growing demand for the miniaturization of electronic devices in the semiconductor industry are key factors driving the growth of this market.
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Browse 15 market data Tables and 32 Figures spread through 95 Pages and in-depth TOC on “Linear Motion Market by Component (Linear Guide, Actuators, Ball Screws, Linear Motors), Industry (Medical & Pharmaceuticals, Semiconductors & Electronics, Aerospace, Food & Beverages, Machining Tools, Automotive), Geography – Global Forecast to 2024”
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Source: MarketsandMarketsAutomotive segment is expected to grow at the highest CAGR in the forecast period.
The automotive industry is one of the fastest growing industries in the linear motion market. This industry has been experiencing rapid developments in manufacturing and manufacturing technology. Automotive manufacturers are upgrading systems, adding inspection and networking capabilities, and taking advantage of integration to produce a better, cheaper product in less time. There is a high demand for linear rail guides, linear motors, controllers, and linear actuators worldwide, as these components help enhance the efficiency of production and manufacturing facilities in the automotive industry. Moreover, Asia Pacific is expected to provide ample growth opportunities for the linear motion market in the automotive industry as it is considered a major automotive manufacturing hub. China has been a potential market for all emerging technologies, including linear motion systems. Its massive automotive manufacturing has contributed to the growth of linear motion systems.
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APAC to account for the largest size of the overall Linear Motion System Market in 2018.
The increasing number of automation activities in process and discrete industries is one of the major factors driving the growth of the linear motion systems market in the Asia Pacific. In addition, countries such as China, Japan, South Korea, and India are contributing to the growth of the linear motion systems market in the region. These countries account for a considerable market size and hold significant potential for developing the linear motion systems market in the Asia Pacific. High growth in machine tool production and other sectors related to the production of smartphones and automobiles, which include electronics assembly, semiconductor machinery, and customized robots for different applications, are some of the reasons for the growth of the linear motion market in APAC.
The report profiles the most promising players in the Linear Motion System Market. The markets competitive landscape presents an interesting picture of strategies adopted by many players. 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 few dominant players in the Linear Motion System Market.
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