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Market Analysis
The Linear Motor Market will touch USD 2.8 billion at a 6.10% CAGR by 2032, as per the recent Market Research Future report.
Key Players
Eminent market players profiled in the global linear motor market report include
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Drivers
Expanding Pharmaceutical Industry to Boost Market Growth
The rapid growth & expansion of the pharmaceutical sector in emerging nations will bolster market growth in the forecast period. It is widely used in applications that need high speed and high precision like linear motor utilization, lab automation, patient handling, mobility, and scanning & imaging. Thus the expanding pharmaceutical industry will boost market growth in the forecast period.
Opportunities
Preference over Conventional Motors to offer Robust Opportunities
The preference for linear motors over conventional motors will offer lucrative opportunities for the linear motor market in the forecast period. Linear motors provide higher flexibility to the motion-controlled capability concerning acceleration, output force, multiple positions, velocity, & complex control of motion during variable situations over the conventional systems. Because these do not rest on the mechanical drive part like racks, pinions, ball screws, pulleys, and belts, linear motors have higher repeatability and accuracy.
Restraints and Challenges
High Installation Cost to act as Market Restraint
The high installation and maintenance cost coupled with limited awareness about the perks of linear motors may act as market restraints over the forecast period.
Market Segmentation
The global linear motor market is bifurcated based on design and application.
By design, cylindrical will lead the market over the forecast period.
By application, electronics and assembly will domineer the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic had a negative effect on the linear motor market chiefly due to supply chain disruptions that impacted the availability and production of the linear motion components. But as the world adapted to new normal, this market showed resilience particularly in industries such as logistics, automation, and healthcare where the linear motion technology plays an imperative part.
Regional Analysis
North America to Command Linear Motor Market
North America will command the linear motor market over the forecast period for the existence of several leading manufacturers and well-established modern technologies. The US has the utmost market share while that in Canada was the fastest growing. The expanding automation, electronics, and manufacturing sector have increased the adoption of the advanced linear motor technologies within the region. Further, this region boasts of a diverse industrial base that encompasses sectors such as healthcare, semiconductor, and automotive thus propelling the need for linear motors for augmenting productivity, efficiency and precision in production processes. This bodes well for the market growth in the region.
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