Linear motion systems find applications in various industrial sectors for material handling, assembly processes, packaging applications etc due to advantages such as smoother and efficient operations, precise positioning and movements, reduction in downtime etc. 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 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption ofLinear motion systems to enhance the operational efficiency of manufacturing processes has accelerated the growth of the linear motion system market over the recent past. Various manufacturing industries are increasingly automating their production lines with linear motion systems to improve throughput, reduce errors, maintain consistency and optimize the workflow. This has led to a high demand for innovative linear motion components like guides, actuators and ball screws that can optimize the production processes. Linear motion system providers are focusing on developing solutions tailored for specific manufacturing applications to capitalize on the opportunities in this thriving market.
Segment Analysis
The global linear motion system market is dominated by the single-axis linear motion systems segment, accounting for over 50% share of the overall market. Single-axis linear motion systems offer linear movement in a single direction and are used widely across applications that require simple linear motion such as packaging machines, CNC machines, and medical equipment. These systems provide smooth and precise linear movement economically compared to multi-axis systems.
Key Takeaways
The global Linear Motion System Market Growth is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America dominated the global linear motion system market and accounted for around 30% market share in 2023. Availability of advanced manufacturing infrastructure, presence of major linear motion system manufacturers and component suppliers, and high demand from end-use industries such as semiconductor, food processing and packaging are driving the market growth in the region.
Key players: Key players operating in the linear motion system market are PPG Industries, Akzo Nobel N.V., Sherwin-Williams Company, BASF SE, The Dow Chemical Company, Arkema Group, RPM International Inc., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems Ltd., Asian Paints Limited, Kansai Paint Co., Ltd., Jotun Group, Sika AG, Hempel A/S, Benjamin Moore & Co.
Comments
0 comment