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Linear motion system market estimated to grow at CAGR of 5.9%
[January 31, 2019]

Linear motion system market estimated to grow at CAGR of 5.9%

NEW YORK, Jan. 31, 2019 /PRNewswire/ -- Linear motion system market estimated to grow at CAGR of 5.9% from 2018 to 2024
The linear motion system market was valued at USD 12.1 billion in 2018 and is expected to reach USD 17.0 billion by 2024, at a CAGR of 5.9% during the forecast period. The drivers of the linear motion system market include the increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry. Rising acquisitions and partnerships on linear motion technology products, growing investments in industrial automation and robotics, and government initiatives to support industrial automation are key opportunities for players in the linear motion system market. However, high initial cost of installation for low-volume production is the key restraining factor for market growth.

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Market for multiprocess linear motion system expected to grow at higher rate during forecast period
The market for multiprocess systems is expected to grow at a higher rate during the forecast period, as these systems offer high reliability and high processing speed for multiple tasks in product manufacturing.Additionally, these systems reduce cost, increase performance, and shrink machine footprints while simplifying network connectivity.

Owing to these benefits, multiprocess systems have attained higher market growth during the forecast period. Owing to the increased demand for multitask automation processes in various industrial applications, such as packaging, pick and place, assembly, and others.

Linear motion system market for medical industry to account for major share of linear motion system market during forecast period
In the medical industry, medical devices often employ linear motion components and motors to assist in the movement and positioning of medicine manufacturing machines.Accurate and repeatable positioning of lenses is crucial for medical devices in everything from CT scanners and blood-testing equipment to milling machines.

Moreover, linear motion systems used as medical equipment have high level of hygiene; the machines' performance level must be accurate and stable to ensure reliable results. Hence, these factors drive the linear motion system maret for the medical industry.

APAC to hold largest size of linear motion system market during forecast period
APAC is expected to provide ample growth opportunities for the linear motion system market as it is considered as a major manufacturing hub for most industries.China has been a potential market for all emerging technologies, including linear motion systems.

Its massive manufacturing industries have contributed to the growth and prosperity of the country. High growth observed in machine tool production and other sectors related to the production of electronic products and automobiles, which includes electronics assembly, semiconductor machineries, and customized robots for different applications are some of the reasons for the growth of the linear motion system market in APAC.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people.

The breakup of the profile of primary participants has been given below:
• By Company Type: Tier 1 – 31%, Tier 2 – 37%, and Tier 3 –32%
• By Designation: C-Level Executives – 45%, Managers –36%, and Others – 19%
• By Region: North America – 32%, Europe – 30%, APAC – 24%, and RoW – 14%

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), and Festo AG (Germany) are a few leading players in the linear motion system market.

Research Coverage:
• By type, the linear motion system market has been segmented into single process systems and multiprocess systems
• By industry, the linear motion system market has been segmented into medical, machining tools, semiconductor & electronics, automotive, aerospace, food & beverages, and others (logistics and construction)
• The geographic analysis is done with regard to major 4 regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles, which discuss the basic views on the competitive landscape, emerging and high-growth segments of the linear motion system market, and high-growth regions; and drivers, restraints, challenges, and opportunities pertaining to the linear motion system market.

The report provides insights on the following pointers:
• Market penetration: Comprehensive information on linear motion system solutions offered by top players in the overall linear motion system market
• Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and product launches in the market
• Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for linear motion system solutions and their adoption across regions
• Market diversification: Exhaustive information about untapped geographies, recent developments, and investments in the overall linear motion system market
• Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of leading players in the linear motion system market

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