Pune India, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the linear motion system market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the linear motion system market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global linear motion system market are Altra Industrial Motion Corp., SCHNEEBERGER Group, Bosch Rexroth AG, Rockwell Automation Inc., Hiwin Technologies Corp., Nippon Thompson Co. Ltd., Hepco Holdings Ltd., Schneider Electric SE, The Timken Co., and THK Co. Ltd. among other. To achieve a substantial market share in the worldwide linear motion system market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Industrial players are putting more emphasis on manufacturing operations and looking into ways to use lean management principles to reduce costs in material handling. The importance of accelerating the cash cycle while enhancing customer satisfaction has grown. Due to this, automated material handling activities have been adopted, which will have an impact on many aspects of material handling, including loading. Because conventional loading requires a lot of labour, it needs workers who are capable of performing tasks including handling trailers, containers, forklifts, terminal tractors, and other machinery. During the forecast period, these adoption requirements for automated material handling will propel market expansion. Microprocessors and programmable controllers are used in modern industrial processes, which makes it simpler to integrate electromechanical actuators into the entire system. Although these actuators have high initial upfront costs, end users pay less for maintenance than those who utilize pneumatic actuators. Additionally, electromechanical actuators use electricity only when necessary, in contrast to pneumatic actuators. These characteristics have caused the use of electromechanical actuators to increase quickly.
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Scope of linear motion system market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, End-User, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Altra Industrial Motion Corp., SCHNEEBERGER Group, Bosch Rexroth AG, Rockwell Automation Inc., Hiwin Technologies Corp., Nippon Thompson Co. Ltd., Hepco Holdings Ltd., Schneider Electric SE, The Timken Co., and THK Co. Ltd. among other |
Segmentation Analysis
The multi-axis linear motion system segment is expected to be the fastest-growing segment in 2022.
The type segment is a multi-axis linear motion system and single-axis linear motion system. The multi-axis linear motion system segment is expected to witness the highest growth rate during the forecast period. The multi-axis linear motion system offers many linear directions of motion and can be used simultaneously for many target applications. The components that are increasing the popularity of this integration system are the high positioning and repeat precision in addition to the proper motion dynamics.
The automotive segment is expected to be the fastest-growing segment in 2022.
The end-user segment is healthcare, automotive, manufacturing, electronics & semiconductor, aerospace, and others. The automotive segment is expected to witness the highest growth rate during the forecast period. Lead screws and other linear motion components, such as electronic linear actuators, are more frequently employed in automotive applications to automate performance. Drivers benefit from the safety and convenience that linear actuators offer because they are regularly utilised everywhere an automotive component has to be moved or lowered, opened or closed.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the linear motion system include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. The South Commuter Railway Project in the Philippines, the Improvement of Rural Drinking Water in Himachal Pradesh, the Livelihood Project in India, and many others are among the construction projects in Asia that have been approved by the Asian Development Bank. These most recent changes in the building industry are crucial factors enhancing the market for linear motion systems.
Country Analysis
- Germany
Germany's linear motion system market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. The German automotive sector, which is at the forefront of technological breakthroughs in the global automobile industry, integrates a variety of technology.
- China
China’s linear motion system market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. Due to its large deployment of the electronic and automotive manufacturing industries, China currently dominates the region in terms of the utilisation of motion systems.
- India
India's linear motion system market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. According to Schaeffler Gruppe, 110 million automobiles will be built by 2025. (the forecast is before COVID-19). The manufacture of passenger vehicles saw a rise in demand in the area. The top five worldwide automakers in the automobile sector were all from India.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the linear motion system market is mainly driven by the rise in technological innovations..
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