The overall linear motion market is expected to grow from USD 3.2 billion in 2018 to USD 4.4 billion by 2024, growing at a CAGR of 5.3%. Major factors driving the growth of the linear motion market include 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, growing investments in industrial automation and robotics, and government initiatives to support industrial automation is a key opportunity for players in the linear motion market. For example, in 2017, HepcoMotion (UK), one of the advanced linear motion manufacturers, invested approximately YEN 2.5 million in a KUKA robot to automate the loading and unloading of one of its CNC milling machines. KUKA KR AGILUS robot integrated with Hepco linear motion products, which subsequently increase production of the machines and offer shorter lead times on its standard products.
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The linear motion market for the automotive industry is expected to grow at a fastest rate in the coming years. Owing to the high demand for linear motion components such as linear guides and tracks, linear actuators, linear motors and drives, and controllers among others in the automotive industry, which has been experiencing rapid developments in terms of manufacturing and manufacturing technology. Automotive manufacturers are upgrading linear motion products, adding inspection and networking capabilities, and taking advantage of integration to produce a better cheap product in less time.
Emerging countries of APAC, including China and India, are witnessing dynamic changes in the adoption of new technologies and advancements in the manufacturing sector. Also, huge government initiatives for IT infrastructure developments have been made. These factors lead to the highest growth rate of APAC in the linear motion market.
The region is highly focused on adopting new technologies in almost every business sector and is more vested in technologically innovative, cost-effective solutions. 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’ sales. These factors would increase the adoption of linear motion in APAC.
