Market Scenario
As stated in comprehensive research by Market Research Future Reports (MRFR), the worldwide linear motion systems market is speculated to record a CAGR of 7.8%, with a value worth USD 8.76 billion by the end of 2023. The increasing usage of linear motors in sectors like robotics, electronics, automotive, and semiconductor is the most significant factor driving the worldwide linear motion systems market 2020. Moreover, the worldwide amplification of industrial automation is likely to augment the market size significantly. The benefit of the linear motor is that it eliminates certain components like belts, rotation-to-translation mechanisms, pulley, etc. Therefore, it reduces the required maintenance. It also reduced the ownership expenses as well.
However, the outbreak of COVID-19 is projected to bring a major impact on the market mechanism. Many regions are facing severe impact because of the novel coronavirus. We will provide COVID-19 impact analysis with the report.
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Market Segmentation
The worldwide Linear Motion Systems Market Analysis can be divided on the grounds of type, application, and region.
Based on type, the worldwide linear motion systems market can be divided into the u-channel linear motor, the cylindrical linear motor, and flat-type linear motor. The flat type direct motor sector is further sub-divided into slotted iron, slotless ironless, and slotless ironless.
Based on application, the worldwide linear motion systems market can be divided into electronics, medical, semiconductor, robotics, automotive, packaging, printing, machine tool medical, and others.
Based on region, the worldwide linear motion systems market share can be divided into North America, Europe, Asia-Pacific, and the rest of the world (which consists of Middle East, Africa, and Latin America).
Regional Analysis
The comprehensive regional study of North America, Europe, Asia-Pacific, and the rest of the world (which consists of the Middle East, Africa, and Latin America) has been carried. As per the study, the Asia-Pacific is speculated to seize the worldwide market during the forecast period. Because of the presence of emerging nations like China, Taiwan, Japan, and South Korea is propelling at a fast speed. Besides, the region is the fulcrum of semiconductor vertical, which plays a vital role in magnifying the market. The Asia-Pacific is likely to witness high demand and market growth during the tenure of assessment. Also, the rising industrialization in emerging nations like India, China, Taiwan, and South Korea is estimated to play a significant role. Besides, the robotics and the rising development in the region is likely to expand the regional market. As per the analysis, the second position is obtained by Europe. Europe region is anticipated to be one of the most lucrative markets during the forecast period. The region makes a considerable contribution to expanding the market. On the other hand, North America is anticipated to display a significant rise during the assessment period. North America is likely to witness an impressive CAGR during the tenure of assessment. However, the RoW, which majorly consists of the Middle East and Africa and Latin America is likely to experience almost no growth during the review period.
However, the market mechanism has been affected significantly because of the outbreak of coronavirus. Several regions halted their daily operations due to the observation of worldwide lockdown. The lockdown severely impacted production and sales.
Key Players
The notable market players of the worldwide linear motion systems market are Rollon SpA (Italy), Schneeberger AG (Switzerland), Bosch Rexroth AG (Germany), SKF AB (Sweden), Schneider Electric Motion USA (US), Thomson Industries, Inc. (the US), Nippon Bearing Co., Ltd (Japan), Hepco Motion (England), Bishop-Wisecarver (US), and Lintech (US).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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