CHICAGO, January 25, 2019 /PRNewswire/ --
According to the new market research report "Linear Motion System Market by Type (Single Process Systems, Multiprocess Systems), Industry (Medical, Semiconductor & Electronics, Aerospace, Food & Beverages, Machining Tools, Automotive), and Geography - Global Forecast to 2024", published by MarketsandMarkets, this market is expected to grow from USD 12.1 billion in 2018 to USD 17.0 billion by 2024, at a CAGR of 5.9%. Increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry are key factors driving the growth of this market.
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Linear motion system market for multiprocess systems is expected to grow at faster rate during forecast period
The market for multiprocess systems accounted for a larger share of the linear motion system market during the forecast period. These systems are designed according to customers' needs to carry out a wide array of different tasks, such as pick-and-place, material transfer, palletizing, de-stacking, and so on. These systems are also designed to build and test entire assembly, and then, the completed units are installed in a factory. These systems eliminate backlash to allow fast acceleration and high-speed operations and increase reliability to complete multiple tasks. Hence, these systems are preferred more than single process systems in various industries to minimize process time and cost. Key vendors offering multiprocess systems are Thomson Industries, Rollon, Bosch Rexroth, PBC Linear, SKF, and B&R.
Medical industry expected to hold largest share of overall linear motion system market during forecast period
The medical industry is involved in the production and development of drugs that are licensed by government and can be used in medications. Workflow efficiency, experimental accuracy, and accuracy in production methods are crucial in this industry. In the medical industry, linear motion systems offer high performance and aim to ensure a positive experience for users, patients, and healthcare professionals. Moreover, linear motion systems used as medical equipment have high levels of hygiene; the machines' performance levels must be accurate and stable to ensure reliable results. Hence, this industry is expected to hold the largest share of the overall linear motion system market during the forecast period.
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APAC to account for largest size of overall linear motion system market in 2018
High growth in machine tool production and other sectors related to the production of smart phones and automobiles, which include electronics assembly, semiconductor machinery, and customized robots for different applications are some of the reasons for the growth of the linear motion system market in APAC. There are also growth opportunities in South East Asian markets for semiconductor, electronic and electronic assembly, machine tools, packaging, rubber, and plastics, which in turn contribute to linear motion systems' sales.
The report profiles the most promising players in the linear motion system market. The competitive landscape of the market presents an interesting picture of strategies adopted by a large number of players. Rockwell Automation Inc. (US), Automation Tooling Systems (ATS) Inc. (US), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), Beckhoff Automation GmbH & Co. KG (Germany), Timken Company (US), Fortive (US), Mitsubishi Electric Corporation (Japan), SCHNEEBERGER Group (Switzerland), Festo AG (Germany), THK CO., LTD. (Japan), NSK Ltd. (Japan), SKF Motion Technologies (Sweden), Pacific Bearing Corporation (PBC) (US), and Aerotech Inc. (US) are few dominant players in the linear motion system market.
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Other players operating in the smart home market are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.
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