by Large paragraph: Linear motion systems provide smooth, precise and controlled linear motion for assembly and handling processes in industries. These systems enhance productivity by transporting, positioning or moving loads linearly in applications. The growing semiconductor industry has fueled the demand for linear motion systems to enable precision movement in manufacturing processes like die bonding, wire bonding and package testing.
The global Linear Motion System Market is estimated to be valued at US$ 10.96 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of linear motion systems in the semiconductor industry has been a key trend bolstering the growth of the linear motion system market. The rising complexity of semiconductor components has necessitated the use of linear motion systems to facilitate high precision movements required for tasks like assembling printed circuit boards. Moreover, the burgeoning demand for electronic products globally has amplified the production levels in the semiconductor industry, thus driving the requirement of efficient linear motion handling systems. Various players are also innovating customized linear motion solutions catered towards the specific automation needs of semiconductor manufacturing. This growing deployment of linear motion systems in the semiconductor sector has significantly contributed to the expansion of the overall market.
SWOT Analysis
Strength: Linear motion systems offer precise positioning and improved productivity in various industrial applications. They provide smooth, frictionless and efficient linear motion.
Weakness: High initial investment for setting up linear motion systems. Maintenance and repair of linear motion components can increase overall costs.
Opportunity: Growing automation in industries like automotive, electronics and food & beverages will drive the demand for linear motion systems. Rapid industrialization in developing nations also presents an opportunity.
Threats: Availability of cheap alternatives like belt & chain drives can hamper the demand. Economic slowdowns can negatively impact the capital spending on linear motion systems by end-use industries.
Key Takeaways
Global Linear Motion System Market Growth is expected to witness high growth supported by increasing automation and precision requirements across industries. The market size is projected to reach US$ 10.96 billion by 2023 registering a CAGR of 8.1% during the forecast period.
Regional analysis: Asia Pacific dominates the global market for linear motion systems mainly due to strong growth of manufacturing sector in China, India, Japan and Southeast Asian countries. Growing foreign investments for manufacturing plants in the region will further propel the APAC market.
Key players: Key players operating in the Linear Motion System market are Hiwin Corporation, Bosch Rexroth AG, The Timken Company, Schneeberger Group, Rockwell Automation Inc., Ewellix AB, THK Co. Ltd, Thomson Industries Inc., Parker Hannifin Corporation, Nippon Bearing Co. Ltd, HepcoMotion Inc., Lintech Corporation and NSK Ltd. The market is fragmented in nature with these prominent players competing in terms of product innovations, quality and pricing.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
