CHICAGO, April 5, 2019 /PRNewswire/ -- 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", published by MarketsandMarkets™, 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%. Increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry are key factors driving the growth of this market.
Machining tools industry expected to hold largest share of overall linear motion market during forecast period
The machine tool industry, there are various applications of linear motion, such as tool changers, parts feeding systems, gantries, and others. Machine tools along with material handling systems are used to carry out different operations on metals, such as cutting, boring, grinding, shearing, and other forms of deformation. Due to the hazardous and dangerous nature of these processes, industrial robots and linear motion tracks are one of the preferred choices. Moreover, linear motion components are used for automation of these processes to offer high reliability and low maintenance solution for these applications. These products improves the performance of machine tools and has the ability to work under hostile condition. Hence, this industry is expected to hold the largest share of the overall linear motion market during the forecast period.
APAC to account for largest size of overall linear motion market in 2018
High growth in machine tool production and other sectors related to the production of smart phones 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. There are also growth opportunities in South East Asian markets for semiconductor, electronic and electronic assembly, machine tools, packaging, rubber, and plastics, which in turn contribute to linear motion products' sales.
The report profiles the most promising players in the linear motion market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of 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 market.
Please Explore Relevant Reports:
Industrial Automation Marketfor Oil & Gas by Solution (Distributed Control System, Programable Logic Controller, SCADA), Instruments (Field Instruments, Control Valve, Leakage Detection System, Flow Computer), and Geography - Global Forecast to 2023
Motion Control Marketby Component (AC Motors, Motors, Motion Controllers, AC Drives, Electronic Drives), Application (Packaging, Material Handling, Metal Fabrication, Converting, Positioning), Industry, and Geography - Global Forecast to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.