What CAGR is predicted from the linear motion systems market?

Global Linear Motion Systems Market Overview
The global linear motion systems market is expected to register a CAGR of 7.8% during the forecast period of 2017 to 2023. The linear motion systems market, which was valued at USD 5.35 billion in the base year, is anticipated to reach a market valuation of USD 8.76 billion by the end of 2023. A linear motion system refers to a device that can be used for the movement of components in the XY direction. This device has many applications in packaging, palletizing, machine tools, material handling, and robotics. Linear motion systems enable a surety that processes are taking place smoothly and rapidly, with minimum loss at any point in the industry. 
Consistent usage of these products can, however, cause where are there of linear motion systems creating a need for replacement, maintenance, and substitution activities. This, in turn, is assessed to drive the global linear motion systems market during the forecast period of 2017 to 2023. For the linear motion systems comprise rail tables, linear rail, guides, sliders, and actuators which add the users to transfer products continuously on a conveyor belt or push it across for packaging purposes. 
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Key players
Some of the market giants prevalent in the linear motion systems market, as profiled in the MRFR report, include  Bosch Rexroth AG (Germany), Rollon SpA (Italy), Schneeberger AG (Switzerland), SKF AB (Sweden), Thomson Industries, Inc. (the US), Schneider Electric Motion USA (US), Nippon Bearing Co., Ltd (Japan), Bishop-Wisecarver (US), Hepco Motion (England), and Lintech (US).
Industry update
Sept 2019: ElectroCraft Inc. recently expanded its DC motor Drive lineup for the CompletePower Plus Universal and PRO Series. This configuration software aids in the performance, flexibility,and efficiency augmentation
Key Developments 
  • In April 2018, Schneeberger Group manufactured the high-precision MINIRAIL miniature guideway, which though small in size, finds usage in several MINIRAIL is a high-tech linear bearing that will impress users with its precision, robustness, and versatility.
  • In April 2018, Bosch invested 100 million Euro in a new plant in Celaya. The company also planned to build a new smart factory for electronic components in Central Mexico by 2020.
  • In March 2018, Rollon, a company specializing in linear motion solutions, strengthened its business by creating a new division in Arcore (MB), Italy and by opening a new factory in Runkel, Germany.
Market segmentation
The global linear motion systems market has been segmented on several aspects to gain a deep and insightful understanding of the landscape. Search segmentation has win conducted by type, application, and region. By type, the global linear motion systems market is bifurcated into single-axis linear motion system and multi-axis linear motion system. Multi-axis linear motion system segment spearheaded the global market at the beginning of the forecast period with the market valuation of USD 2020 3.90 million. It is expected to attain the highest CAGR during such forecast period. In multi-axis linear motion systems there are more than 3 axes in the system which require less than 30kw of total power. As the power of each axis is shared between common dc power supplies, it leads to cost-effectiveness, hence fostering segmental market growth. The single-axis linear motion system segment is expected to ascend at a cagr of 6.6 % during the forecast period.
Based on application, the global linear motion systems market is studied for the segments of palletizing, machine tools, material handling equipment, and robotics. The machine tool segment dominated the linear motion systems market at the beginning of the review period. This segment is also estimated to retain its market dominion through the forecast period of 2016 to 2023. However, the robotics segment is anticipated to take on the fastest growth trajectory during the assessment period.
Regional analysis
By region, the global linear motion systems market has been segmented into Europe, North America, Asia Pacific, and the Rest of the World. Among these regional segments, Asia Pacific’s linear motion systems market dictated the global market at the beginning of the assessment period. The regional market is also anticipated to retain such market dominance over the forecast period owing to a number of factors. Rapid emergence of industrialization in various developing countries such as Taiwan, India, South Korea, and China is one of the primary factors contributing to the mushrooming of the regional linear motion systems market. 
Key questions addressed by the report
  • What was the historic market size (2015)?
  • Which segmentation (Component/Solution/Industry) is driving the market growth?
  • What will be the growth rate by 2023?
  • Who are the key players in this market?
  • What are the strategies adopted by key players?
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