Linear Motor Market Is Likely to Experience a Tremendous Growth in Near Future 2031 | THK Co., Ltd., NSK Ltd., HIWIN Technologies Corp.

The global linear motor market was valued at US$ 1,370 million in 2020. The global linear motor market is forecast to reach US$ 2189.4 million by 2030, registering a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2021 to 2030.

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A linear motor is an electric induction motor with a parallel linear stator and rotor placed in the middle to create straight-line motion.

Factors Affecting

The beneficial applications of linear motors in various industries, like electronics, automotive, robotics, semiconductors, would drive the growth of the global linear motor market.
Linear motors are generally used in machines to automatically perform functions, such as cutting, grinding, shearing, etc. Thus, the accuracy and profitable functions of these machines may accelerate their adoption in the coming years.
Linear motors offer exceptional reliability at a low cost. As a result, linear motors are in high demand across a wide range of sectors. Thus, the global linear motor market will benefit in the coming years.
Electromagnets are used to power linear motors and are expensive to manufacture. The global linear motor market would experience a slowdown as a result of this.

Impact Analysis of Covid-19

The Covid-19 outbreak prompted a lockdown to stop the virus from spreading. Many industries were forced to temporarily shut down because of the workforce shortage. The halt in operations adversely affected the global linear motor market. However, the global linear motors market is forecast to grow again after the government bodies lift the lockdowns.

The pandemic also affected the manufacturing activities as the import and export activities were all halted. Thus, the unavailability of raw materials affected the entire supply chain during the pandemic period.

Furthermore, linear motors are not dependent on other mechanical components, such as belts, pulleys, pinions. Moreover, they do not require elastic components, such as couplings, gearboxes, etc. As a result, it reduces the risk of motion mistakes and backlash. As a result of these benefits, market players may witness potential opportunities in the coming years.

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Regional Insight

The Asia-Pacific region owns the greatest proportion of hare of the global linear motor market. Emerging economies, such as China and India, are embracing new technology at a rapid pace. Furthermore, the government has launched several large-scale IT infrastructure improvement programs, which would surge the demand for linear motor technologies in the coming years.

Key Players

The following companies are the key players in the global linear motor market:

THK Co., Ltd.
NSK Ltd.
HIWIN Technologies Corp.
Nippon Thompson Co. Ltd.
Robert Bosch GmbH
Schaeffler Technologies AG & Co. KG
Rockwell Automation Inc.
Timken Company
HepcoMotion
SCHNEEBERGER Group
Hitachi Metals, Ltd
KML Linear Motion Technology GmbH
Kollmorgen Corporation
Mitsubishi Electric Corporation, Moog Inc.
Sumitomo Electric Industries, Ltd.
Yaskawa Electric Corporation
Other Prominent Players

Market Segmentation

Segmentation based on Type

U-channel linear motor
Flat-type linear motor
Cylindrical linear motor

Segmentation based on Application

Automotive
Electronics
Machine tools
Medical & Pharmaceuticals
Packaging/Labelling
Robotics
Agricultural and construction
Petrochemical
Printing
Paper
Textile
Woodworking

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Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global Linear Motor market report are:

How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the Linear Motor market over the forecast period?
What are the factors driving and restraining the market for Linear Motor?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?

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This release was published on openPR.