The linear motion market is expected to reach USD 4.4 billion by 2024 from USD 3.2 billion by 2018, at a CAGR of 5.3%. Major factors driving the market growth are increasing need for quality inspection and automation, reduced time-to-market, and growing demand for the miniaturization of electronic devices in the semiconductor industry.
The linear motion market is dominated by several established players, such as, THK Co., Ltd. (Japan), NSK Ltd. (Japan), HIWIN Technologies Corp. (Taiwan), Nippon Thompson Co., Ltd. (IKO) (Japan), Robert Bosch GmbH (Germany), Schaeffler Technologies AG & Co. KG (Germany), Rockwell Automation Inc. (US), Timken Company (US), Fortive (US), HepcoMotion (UK), and SCHNEEBERGER Group (Switzerland). Partnerships, collaborations, acquisitions, and product launches are among a few major strategies adopted by market players to grow in the market and expand their global presence and increase their market share.
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THK manufactures and supplies vital machine components worldwide. THK offers diversified product offerings which includes linear motion guides, ball screws, bushings, rollers and so on. THK products help customers convert slippage into controlled rotary motion, enabling parts of machinery to move smoothly, easily, and precisely with linear motion. The company focuses on creation and development, and develops a variety of products, including linear motion (LM) guides, since the company’s establishment. THK has established an integrated production and sales structure of 118 sales offices and 35 production facilities. The company has strong focus on the growth and development of customers worldwide by promoting the use of its products including linear motion guides. The use of company’s products is expanding across various emerging sectors including medical equipment, aircrafts, and renewable energy. Moreover, the company also planning to expand its business which handles products such as electric actuators and next-generation robot-related products.
NSK produced the first ball bearings in Japan. Since then, the company has spearheaded the development of bearings in Japan. The company offers a full range of bearings and sells it globally and have contributed greatly to the growth of many industries and to the advancement of the mechanical technology. Presently, the company has the largest share of the bearings market in Japan and is one of the largest bearing suppliers in the world. The company has production and sales locations in European markets resulted in a stronger market presence for NSK in Europe. By further harnessing the potential of its global network, NSK strives to further enhance its R&D, manufacturing, sales, and management capabilities. For instance, in October 2018, NSK developed high-durability precision ball screws using a new surface processing technology. These products are capable of high accuracy operation even in typically demanding applications.
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
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