New York, USA, May 09, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “linear motor market Research Report: By Component, Business Function, Deployment Type, Organization Size, and Industry Vertical. - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 2.13 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 6.1 % during the assessment timeframe.
Linear Motor Market Key Players
Eminent industry players profiled in the linear motor market report include
- Aerotech Inc. (U.S.),
- ETEL S.A (Switzerland),
- Moog Inc. (U.S.),
- Beckhoff Automation (Germany),
- meier GmbH (Germany),
- H2W Technologies Inc. (U.S.),
- Yaskawa Electric Corporation (Japan),
- Sanyo Denki Co. Ltd. (Japan),
- Kollmorgen Corporation (U.S.), and
- ar Motion Technology GmbH (Austria).
These players contribute a major share in the growth of the linear motor market. Besides, the top players, the other players ribute to the market, are Jenny Science AG (Switzerland), Sodick Co., Ltd. (Japan), NTI AG LinMot (Switzerland), FANUC Corporation (Japan) Oswald Elektromot bH (Germany), and others.
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 2.13 Billion |
| Growth Rate | CAGR of 6.1 % from 2020 to 2030 |
| Base Year | 2018 |
| Study Period | 2020-2030 |
| Key Market Opportunities | The increasing sales of lightweight vehicles and the growing automobile industry worldwide |
| Key Market Drivers | Increasing application of linear motors in various industries such as semiconductor, automotive, electronics, and robotics. |
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Drivers
Increasing Adoption in F&B Industry to Boost Market Growth
The building block of all packaging devices and food goods is automation. The difficulties addressed by machine builders include increased production volumes, fluctuating package amounts, and monitoring and documenting all procedures. Every firm wants to produce their products in a regulated, secure environment. The packaging & manufacturing processes in the food and beverage industry can be moved along by using the best components that machine builders can find thanks to the use of linear motors. Thus, more automation, better procedures, and other factors have caused a rise in the use of linear motors in the food and beverage industry.
Opportunities
Booming Pharmaceutical Industry to offer Robust Opportunities
Another factor that is anticipated to help the expansion of the target market is the pharmaceutical industries' rapid growth in emerging nations. For use in applications requiring very high precision and speed, such as scanning and imaging, mobility, lab automation, and patient handling, linear motor utilization is rising quickly. This represents a significant chance for the market to grow.
Restraints and Challenges
High Installation and Maintenance Cost to act as Market Restraint
The high installation and maintenance cost and dearth of skilled manpower may act as market restraints over the forecast period.
Linear Motor Market Segmentation
The global linear motion market is bifurcated based on application and type.
By type, cylindrical linear motor will lead the market over the forecast period. They are highly preferred for being a budget-friendly substitute to the screw-driven rod-type actuators.
By application, electronics will domineer the market over the forecast period as linear motors offer versatile, efficient, and precise motion control thus making it a highly valuable component in different electronic applications.
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Linear Motor Market COVID-19 Analysis
The COVID-19 epidemic has possessed a substantial impact on the global linear motor market. New projects have stagnated all around the world, which has significantly reduced need for linear motors. Due to the fact that workers have stayed at home and that even the devices that are already in diverse warehouses cannot be transported for the current rules and regulations, global factories have struggled to manufacture, integrate, and assemble new technologies, which have disrupted the world's supply chains. Companies are likely to take advantage of this COVID-19 crisis to invest in, use, and study less-human-touch technology, taking AI and automation as an example. The production & supply chain are the only parts of the linear motor market that are temporarily affected by COVID-19. Production, supply networks, and need for these products will all steadily rise as a result of numerous expanding sectors once the situation improves.
Linear Motor Market Regional Analysis
APAC to Remain Forerunner in Linear Motor Market
The global market for linear motors is predicted to be dominated by the APAC region. The semiconductor industry considers the area to be a hotspot. With nations like Taiwan, Japan, China, & South Korea present, the region is developing quickly. Since these nations make a major contribution, the area is predicted to have high demand & market expansion. The increasing use of linear motors in numerous applications, including control & test equipment, lithography, wafer, process control, and die-level packaging, is credited with the region's expansion. The existence of nations like Taiwan, South Korea, China, and Japan fuels market demand. Asia-Pacific will experience the fastest growth in linear motion systems throughout the projected period due to the region's extensive use of linear actuators & other systems. China is a leader in the adoption of motion systems due to the massive deployment in the nation's important electrical and automobile production industries. The market under review has several prospects for expansion as the industry is expanding quickly in other economies within the area, such as India. New technology is being quickly adopted by emerging economies like China and India. Additionally, the government has started a number of significant projects to upgrade the IT infrastructure, which will result in a surge in need for linear motor technology over the next few years.
North America to Have Admirable Growth in Linear Motor Market
North America accounted for the biggest market share during the review period and is a prominent region for the global market for linear motor. This is due to the region's early embrace of technical breakthroughs and the presence of significant tech giants within the US, the world's technological centre. Additionally anticipated to contribute to the share of the regional market gained from North America throughout the assessment period is the well-established semiconductor industry.
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The linear motor market is fragmented and fiercely competitive as a result of the presence of numerous domestic and international industry participants. To stay competitive and fulfill the clients & changing needs, they have employed a range of strategies, including joint ventures, collaborations, contracts, global expansions, new product releases, and more. In order to strengthen their portfolios and get a footing in the market, large firms are also heavily investing in R&D initiatives.
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