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Linear Motion Systems Market expected to reach USD 8.76 Billion by 2023| (SARS-CoV-2, Covid-19 Analysis)

Jul 27, 2020 10:00 PM ET
iCrowd Newswire – Jul 27, 2020

Global Linear Motion Systems Market Research Report: Information by Application (Packaging, Machine Tools, Palletizing, Robotics, Material Handling Equipment and others) by Type (Single-Axis Linear Motion System and Multi-Axis Linear Motion System), by Region – Forecast till 2023

Market Research Future aims to study and address potential market status for Global Linear Motion Systems Market 2020 taken down during the ongoing COVID 19 outbreak. The study is all about how the market is responding globally to the COVID-19 pandemic where the study reveals that the global linear motion systems market would rise at a pace of 7.8% CAGR during the estimated period 2017–2023. The valuation that the market expects to achieve in future will be around USD 8.76 Billion, which is meant to surpass USD 5.35 billion gained in the year 2016.

The top players operating in the global linear motion systems market are Rollon SpA (Italy), Bosch Rexroth AG (Germany), SKF AB (Sweden), Schneeberger AG (Switzerland), Schneider Electric Motion USA (US), Thomson Industries, Inc. (the US), Bishop-Wisecarver (US), Nippon Bearing Co., Ltd (Japan), and Lintech (US).

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Top Impacting Factors

The linear motion systems market might expand at a rapid pace in the coming years in support of the factors such as technological advancements in the field of linear motion systems with regards to novel electro-mechanical systems as well as mount in industrial production worldwide. These instances are anticipated to boost the linear motion systems market.

A considerable surge in demand for linear motion systems owing to advantages such as higher efficiency and higher product lifecycle is estimated to enhance the global linear motion systems market. Novel linear motion systems over the electro-mechanical principal offer various avenues to move various industrial payloads. Further, these systems are environmentally friendly as they do not rely on fuel for working. Therefore, these are heavily used in many industries, particularly the industries that are prone to higher carbon emission.

Moreover, the demand for linear motion systems in the automotive industry is also probable to surge in the coming years owing to growth in automotive sales around the globe. After all these factors, linear motion systems find various usages in transportation, packaging, pick and place and palletizing in material handling across various end-use industries. Deployment of systems in these applications delivers seamless and agile processing, thus reducing the requirement of maintenance. These factors have also uplifted its importance, resulting in record-breaking growth in valuation.

On the opposing side, the factor of lack of awareness regarding the implementation of linear motion systems might limit the linear motion systems market growth during the forecast period.

Leading Segments

Based on the type segment, the market has included a single-axis linear motion system and multi-axis linear motion system. Among these, the multi-axis linear motion system segment grabbed the largest market share in 2016, with a revenue of USD 2,023.90 million. Thus, now it is expected to register the highest CAGR during the forecast period. The single-axis linear motion system segment held the second-highest valued segment with a CAGR of 6.6% during the assessment period.

By the segment of the application, the market has included machine tools, packaging, robotics, palletizing, material handling equipment, and others. The machine tool segment might lead the market from 2016 to 2023. However, the robotics segment might also register the highest CAGR during the assessment period.

Regional Framework

In geographical terms, the linear motion systems market is studied for the main regions of Europe, North America, Middle East & Africa, Asia Pacific, and South America.

The Asia Pacific and Europe regions are expected to lead the linear motion systems market, in support of an increase in industrial activity, mount in government investment in industrial automation systems, technological progressions in the field of linear motion systems, and occurrence of entrenched players offering linear motion system across the region. The elevated market share of these regions is chiefly owing to the incidence of major economies such as India, the U.S., France, Germany, South Korea, China, and Japan.

The market in North America might expand at a significant rate, in support of the booming packaging industry.

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Keywords:    Linear Motion Systems Market