Pune, India, May 31, 2023 (GLOBE NEWSWIRE) -- The global linear motion products market size was valued at USD 11.56 billion in 2022 and is projected to reach a valuation of USD 12.21 billion in 2023. The market is expected to reach USD 19.62 billion by 2030 with a CAGR of 7.0% during the forecast period. Linear motion technology is used to make products such as linear bearings, linear actuators, ball screws, linear guides and tables, and linear drives & motors. Extensive integration of the Internet of Things (IoT) and Machine Learning (ML) is expected to pose numerous prospects for market growth. Fortune Business Insights™ shares this information in its report titled “Linear Motion Products Market, 2023-2030.”
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List of Key Players Profiled in the Report:
- UMBRAGROUP (Italy)
- NSK Ltd. (Japan)
- Moog Inc. (U.S.)
- Korta (Spain)
- August Steinmeyer GmbH & Co. KG (Germany)
- SHUTON (Spain)
- Curtiss-Wright (U.S.)
- TSUBAKI NAKASHIMA CO., LTD (Japan)
- KURODA Precision Industries (Japan)
- THK CO., LTD. (Japan)
Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023-2030 CAGR | 7.0% |
| 2030 Value Projection | USD 19.62 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 11.56 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 120 |
| Segments covered | By Product, Application, Region |
| Growth Drivers | Growing Demand for Automation to Bolster Market Growth |
COVID-19 Impact:
Shutting of Manufacturing Facilities Impacted the Day-to-Day Output of Production Facilities
Unexpected shutting of manufacturing facilities impacted the day-to-day output of the production facilities. Manufacturers are focused on streamlining the supply chains of critical components of medical and pharmaceutical and food and beverage industries. The companies are managing a heavy stockpile of critical motion system components and maintaining a strong inventory of these products during the pandemic.
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Segments
With Growing Demand in Manufacturing Industries, Bearings Segment to Dictate
On the basis of product, the market is segmented into linear motors and drives, linear guides & tables, bearings, ball screws, actuators, and others. Bearings segment is set to lead due to its growing demand in the manufacturing industries. Ball screws are projected to have a major growth as they are used in numerous industries such as processing for fixing into the internal parts of machines for smooth functioning along with automobile & engineering.
Machining Tools to Govern Due to Manufacturing of CNC Machines
Based on application, the market is categorized into semiconductor & electronics, medical and pharmaceuticals, automotive, food & beverages, aerospace, machining tools, and others (paper & pulp). Machining tools segment is anticipated to dominate owing to growth in the manufacturing of CNC machines. Semiconductor & electronics segment is also expected to have a substantial growth due to increase in investments in the semiconductor industry in Asia.
Based on geography, the market is studied in North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
Drivers and Restraints
Demand for Automation to Enhance the Market Progress
Demand for automation is anticipated to drive linear motion products market growth. Owing to strict quality control standards and need for improved accuracy, adaptability, reliability, and greater efficiency, linear motion systems are used. Furthermore, as consumers have been becoming more aware of the environmental benefits of the systems, the use has been increasing in various industrial sectors such as manufacturing, packaging, and automotive. Consequently, carbon emissions have been reduced and the expansion of the market for linear motion products has been promoted.
However, high cost of designing and installation with increase lead time is expected to hamper the market growth.
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Regional Insights
Owing to the Presence of Significant Market Players, Asia Pacific to Lead Market Share
Asia Pacific is expected to have largest part in the linear motion products market share owing to the demand for increased use of cutting-edge technology, industrial activities, and investments in the automotive sector. The region also has a presence of significant market players and China dominates the region owing to the acceptance rate of motion systems that are widely used in the country’s automotive and electronics industries.
North America has moderate growth due to the changes in development and manufacturing of devices as electronics have reduced in size. Another market trend for linear motion products involves manufacturers producing Industry 4.0 components appropriate for enterprise-level connectivity.
Competitive Landscape
Rockwell Automation has Revealed the New Itrak 5730 Small Frame Smart Track System
Key market players are investing heavily in research and development activities for the expansion of their product portfolios, which will drive further drive the linear motion system industry. In May 2020, Rockwell Automation revealed the new iTRAK 5730 small frame smart track system (combining linear and rotary motion) to support intelligent, adaptable, and efficient machinery. Independent carriage technology has various benefits such as limitless machine flexibility, enhanced traceability, and higher uptime.
Key Industry Development
October 2022- NSK developed an eco-friendly grease ROBUSTGRD, which improves scuffing resistance and provides improved productivity and long-term stable operation for machine tools.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Linear Motion Products Key Players Market Share Insights and Analysis, 2022
- Global Linear Motion Products Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
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- Key Findings
- By Product (USD Bn)
- Bearings
- Linear Guides & Tables
- Actuator
- Ball Screws
- Linear Motors and Drives
- Others
- By Application (USD Bn)
- Medical and Pharmaceuticals
- Semiconductor & Electronics
- Aerospace
- Food & Beverages
- Machining Tools
- Automotive
- Others (Paper & Pulp)
- By Region (USD Bn)
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South America
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- North America Linear Motion Products Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
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