Linear Motion Market Worth $4.4 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, April 5, 2019 /PRNewswire/ -- According to the new market research report "Linear Motion Market by Component (Linear Guide, Actuators, Ball Screws, Linear Motors), Industry (Medical & Pharmaceuticals, Semiconductors & Electronics, Aerospace, Food & Beverages, Machining Tools, Automotive), Geography - Global Forecast to 2024", published by MarketsandMarkets, this market is expected to reach from USD 3.2 billion in 2018 to USD 4.4 billion by 2024, at a CAGR of 5.3%. Increasing need for quality inspection and automation, reduced time-to-market, and growing demand for miniaturization of electronic devices in the semiconductor industry are key factors driving the growth of this market.

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Machining tools industry expected to hold largest share of overall linear motion market during forecast period

The machine tool industry, there are various applications of linear motion, such as tool changers, parts feeding systems, gantries, and others. Machine tools along with material handling systems are used to carry out different operations on metals, such as cutting, boring, grinding, shearing, and other forms of deformation. Due to the hazardous and dangerous nature of these processes, industrial robots and linear motion tracks are one of the preferred choices. Moreover, linear motion components are used for automation of these processes to offer high reliability and low maintenance solution for these applications. These products improves the performance of machine tools and has the ability to work under hostile condition. Hence, this industry is expected to hold the largest share of the overall linear motion market during the forecast period.

APAC to account for largest size of overall linear motion market in 2018

High growth in machine tool production and other sectors related to the production of smart phones and automobiles, which include electronics assembly, semiconductor machinery, and customized robots for different applications are some of the reasons for the growth of the linear motion market in APAC. There are also growth opportunities in South East Asian markets for semiconductor, electronic and electronic assembly, machine tools, packaging, rubber, and plastics, which in turn contribute to linear motion products' sales.