Electric Linear Actuators is fastest growing segment fueling the growth of Linear Motion System Market

 

The global Linear Motion System Market is estimated to be valued at US$ 10.96 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:

Linear motion systems are electromechanical devices comprising a motor and drive components like rails, guides, bearings and carriages that allow linear, accurate and controlled movement of components along a straight path. They facilitate frictionless motion and positioning of loads in industrial automation, packaging and various other applications.

Market key trends:

Growing adoption of Industry 4.0 is one of the major trends fueling growth of the linear motion system market. Integrating advanced technologies like internet of things, artificial intelligence, robotics etc into production processes is becoming increasingly important for achieving higher operational efficiencies in manufacturing facilities. Linear motion systems play a central role in deploying smart robotics, collaborative robots, autonomous guided vehicles and other Industry 4.0 solutions. Their ability to move components quickly, precisely and repetitively under computer control forms the backbone of modern automated production lines. Additionally, the trend of factory digitization and need for predictive maintenance is also driving demand for linear motion systems with integrated condition monitoring features.

Segment Analysis

The linear motion system market is segmented based on component, system type, application, and region. The bearing segment dominates the market owing to its wide application across industries. Bearings find use in almost all types of linear motion systems to facilitate smooth linear motion by reducing friction between moving parts. They are cost-effective and enable precise movement, thereby witnessing high demand from end-use industries.

Key Takeaways

The Global Linear Motion System Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing demand from industrial automation.

Regional analysis: North America dominates the linear motion system market owing to rapid industrialization and presence of major players in the region. Asia Pacific exhibits the fastest growth due to growing manufacturing industry in countries such as China and India.

Key players: Key players operating in the linear motion system market are Hiwin Corporation, Bosch Rexroth AG, The Timken Company, Schneeberger Group, Rockwell Automation Inc., Ewellix AB, THK Co. Ltd, Thomson Industries Inc., Parker Hannifin Corporation, Nippon Bearing Co. Ltd, HepcoMotion Inc., Lintech Corporation and NSK Ltd.

The global linear motion system market size for 2023 is US$ 10.96 Bn. The market is expected to grow at a CAGR of 8.1% during the forecast period of 2023 to 2030.

Read Our More Blogs : https://www.rapidwebwire.com/linear-motion-system-market-size-share-analysis-2023-2030/


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