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Electric Linear Cylinders Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Industrial Automation

Alex Huge
Electric Linear Cylinders Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Industrial Automation

Electric linear cylinders are electromechanical actuators that generate linear, rectilinear motion and precise positioning. They are compact devices that transform electrical energy into linear movement. The main advantage of electric linear cylinders is their ability to enable automated operation in industrial production lines and processes. They offer efficient motion control and improve productivity by replacing manual labor.

The global electric linear cylinders market is estimated to be valued at US$ 799.18 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of increasing industrial automation is expected to significantly drive the growth of the electric linear cylinders market size during the forecast period. Manufacturing industries around the world are increasingly adopting automation solutions to enhance productivity and efficiency. Electric linear cylinders are widely used in automated assembly lines, packaging machines, pick and place systems, and other automated industrial applications. They provide precise positioning and help meet the speed and positioning accuracy requirements of modern automated production systems. Growing focus on factory automation to minimize labor costs and boost output will drive significant demand for electric linear cylinders in the coming years. Advancements in electric cylinder technologies such as precision motion control, safety features, and remote monitoring capabilities are further supporting their increasing adoption across various industrial automation applications.

Porter's Analysis

Threat of new entrants: Low. High capital requirement and established presence of existing players pose significant barriers for new players.

Bargaining power of buyers: Moderate. Buyers have moderate bargaining power due to availability of substitute options, however established relationships and demand for customized solutions increase switching costs.

Bargaining power of suppliers: Moderate. Suppliers have moderate bargaining power due to availability of alternative components, however investments in research and development limit flexibility to change suppliers.

Threat of new substitutes: Low. Limited substitutes available for linear motion applications requiring precision and control.

Competitive rivalry: High. Presence of many global and regional players results in high competition based on product quality, technical support, pricing and innovation.

SWOT Analysis

Strengths: Established global presence of major players, growing demand from manufacturing and automotive industries, precision and control offered by electric linear cylinders.

Weaknesses: High initial investments and maintenance costs, requirement of technical expertise to operate.

Opportunities: Growth in factory automation, adoption in emerging applications such as medical devices, developments in sensor technology and compact designs.

Threats: Volatility in raw material prices, growing popularity of robotic arms in automotive sector.

Key Takeaways

The global Electric Linear Cylinders market is expected to witness high growth over the forecast period of 2023 to 2030 supported by growing industrial automation and demand for precision movement in various applications. The market size is projected to reach US$ 1,456.32 Mn by 2030 registering a CAGR of 5.1% over the forecast period.

Regional analysis indicates Asia Pacific as the largest and fastest growing regional market driven by growth in industrial and manufacturing sectors across major economies such as China, India and Japan. The region accounted for 38% of the global market share in 2023 supported by presence of domestic manufacturing bases and growing indigenous demand.

Key players operating in the electric linear cylinders market are Bosch Rexroth AG, Tsubakimoto Europe B.V., RACO-Elektro-Maschinen GmbH, Mul-T-Lock, Exlar Europe GmbH, Linearmech S.R.L., Parker Hannifin, SEW-EURODRIVE GmbH & Co KG, SKF, BJ-Gear, Kollmorgen, Tolomatic, RK Rose+Krieger GmbH, Seimens AG, Moog, Inc., SMC Corporation, and Rockwell Automation. Major players are focusing on development of energy efficient and compact product designs to expand in new applications such as medical devices and collaborative robots.

Get more insights on this topic: https://www.trendingwebwire.com/electric-linear-cylinders-market-size-and-opportunity-analysis-2023-2030/

Alex Huge
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