Forums » News and Announcements
Linear Motion Systems Market: Forecast to 2027
-
The global Linear Motion System Market capitalization is expected to reach USD 8.76 billion mark, growing at a staggering CAGR of 7.8% during the forecast period (2017-2023), Market Research Future (MRFR) reports. Linear motion systems (LMS) are devices capable of gyration of components in assembly lines in two directions. Rapid industrialization across verticals such as packaging, automotive, manufacturing, and food and beverages can act as a catalyst for the market. Implementation of advanced technologies and latest equipment in processes by these sectors can be key to driving market growth over the forecast period.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/6200
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.
Access Report @ https://www.marketresearchfuture.com/reports/linear-motion-system-market-6200
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.
About Market Research Future:
Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.
The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.
Our Forte
- Strong industry focus
- Robust methodology
- Tailor-made solutions
- Disruptive research
- Cutting-edge detailed reports
- Competitive pricing
- Domain expert researchers
- Timely delivery
- Ground-breaking approach
- Advanced and transparent research methodology
- Cover latest trends and innovations