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Linear Motion System Market Demand Analytics, Top Companies, COVID-19 Impact Analysis,Types, Application, Growth Drivers, Size, Share and Industry Analysis Forecast 2023
Market Research Future(MRFR)
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Increasing demand for precision in industrial processes coupled with booming economies of India and China due to industrialization can propel the market growth. Utilization of LMS in the automotive sector for quality and repetitive movements is likely to work in favor of the market. But high maintenance costs of LMS can act as a market deterrent against growth.
Segmental Analysis
The global market for linear motion systems can be segmented based on type, application, and region.
By type, the market has been segmented into single-axis and multi-axis linear motion systems. The multi-axis linear motion system segment is touted to dominate the market owing to the low cost of these systems compared to its counterpart. The segment can purportedly reach a projection of USD 5.70 billion by 2023 owing to its performance and efficiency across industry verticals.
Major market applications include palletizing, robotics, machine tools, material handling equipment, packaging, and others. The robotics segment is likely to gain traction during the forecast period thanks to rapid pace of automation to reduce time for laborious processes such as pick-and-place, storage, and material handling. The material handling equipment segment accounted for the second-biggest applications owing to its ability to reduce operational expenses of businesses.
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Regional Outlook
Region-wise, the linear motion system market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC region can dominate the global market by 2023, with China and India fueling market growth. China’s market valuation stood at USD 804.7 million in 2017. It can register an 11.7% CAGR over the forecast period owing to various technological advents in automation. Japan and India follow China’s lead on the basis of demand.
The North America region can register a strong CAGR over the forecast period owing to rising trend of bring-your-own-device (BYOD) and adoption of smart devices by various industries. Automation of industrial processes is expected to spur the integration of LMS across industries in the region. The necessary budget for implementation of these devices coupled with a surge in shale production can bolster regional demand. Innovations are galore in the region, with the T-Case LinearRace Shafting LMS by Thomson Industries possessing the capacity to transmit power to machines.
Competitive Dashboard
The market is highly fragmented and various players, at an international as well as regional levels, are imposing themselves as market influencers. Some of the key players profiled in the report include Bosch Rexroth AG, Hepco Motion, Schneeberger AG, Thomson Industries, Inc., Bishop-Wisecarver, Lintech, Rollon S.p.A., Nippon Bearing Co., Ltd., SKF AB, and Schneider Electric Motion USA. Innovation is at the crux of the strategies of these players with new products replacing legacy products. Players such as Thomson Industries, Bosch Rexroth, and Schneider Electric Motion USA are encouraging technological innovation and launching new products into the market.
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