Global Linear Motor Market was valued US$ XX Bn in 2019 and is expected to reach US$ 1.92 Bn by 2027, at a CAGR of around XX % during a forecast period
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Growing demand from several end-use industries coupled with numerous advantages associated with the use of linear motors are major factors driving the growth of the global linear motors market. Furthermore, the rapid growth of the pharmaceutical industries in developing economies is another factor expected to support the growth of the global market over the forecast period.
A major and rising trend in the global linear motors market is the introduction and use of compact linear motors. This trend is estimated to continue during the forecast period and is another factor expected to support the growth of the global market.
On the other hand, the limited use of linear motors in high-load applications is a major factor in restraining the growth of the global market presence. As well, high initial investments into linear motors are another factor expected to hinder the growth of the global market over the forecast period.
Based on application, the electronics and assembly segment is estimated to contribute a major revenue share of XX% and is expected to maintain its dominance over the forecast period. The pharmaceutical segment is projected to register the highest CAGR of XX %, on account of linear motors’ precise motion control with extremely high output to meet the demand for millions of doses per day, along with reduced wastage and ease of maintenance, thus improving productivity and profitability.
Also, the machine tools segment is expected to account for the second-highest revenue share in the global market, followed by revenue contribution by the material handling segment. This is attributed to benefits such as faster traverse speed, lower vibration, higher precision, and lower maintenance cost. Linear machines also deliver longer tool life and lower operating cost.
Globally, the Asia Pacific region held a significant market revenue share of the linear motor market in 2017. The market in the region is expected to grow at a CAGR of XX % throughout the forecast period. The increasing adoption of linear motors across the Asia Pacific is estimated to offer lucrative opportunities for vendors, particularly in the electronics and assembly applications, during the forecast period.