LONDON--(BUSINESS WIRE)--The new linear motion systems market Research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the increase in demand for automated material handling in the industrial sector,” says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the linear motion systems market size to grow by $ 1.48 bn during the period 2020-2024.
Linear Motion Systems Market Segment Highlights for 2020
- The linear motion systems market is expected to post a year-over-year growth rate of -1.08%.
- Based on the application, the material handling equipment segment led the market in 2019. The growth of the segment is driven by the increase in demand from end-user segments such as electronics and semiconductors, medical equipment manufacturing, and F&B.
- The market growth will be significant in the segment during the forecast period.
Regional Analysis
- 51% of the growth will originate from the APAC region.
- Factors such as rapid industrialization, growing government investments in robots, machine tools, and material handling equipment will drive linear motion systems market growth in APAC during the forecast period.
- China and Japan are the key markets for linear motion systems in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and MEA.
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Notes:
- The linear motion systems market size is expected to accelerate at a CAGR of over 3% during the forecast period.
- The linear motion systems market is segmented by Application (Material handling equipment, Machine tools, and Robots) and Geography (APAC, Europe, North America, South America, and MEA).
- The market is fragmented due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including Altra Industrial Motion Corp., Hepco Holdings Ltd., HIWIN Technologies Corp., Nippon Thompson Co. Ltd., Robert Bosch GmbH, Rockwell Automation Inc., SCHNEEBERGER Group, Schneider Electric SE, The Timken Co., and THK Co. Ltd.
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