Market for Electric Linear Cylinders Is Estimated To Witness High Growth Owing To Increasing Industrial Automation & Growing E-Commerce Industry
The Electric Linear Cylinders Market is estimated to be valued at US$ 760.4 Mn in 2022 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 Overview:Electric linear cylinders are electro-mechanical devices that convert
electric energy into linear motion. They are used in industrial automation
applications to provide precise linear motion for picking, packing, assembly
systems and more. Examples of their use include robotics, packaging equipment,
conveyor systems, automation equipment etc. Their advantages over pneumatic
cylinders include noiseless operation, precision control and no requirement of
compressed air.
Market Dynamics:
Two key drivers contributing to the growth of the electric linear cylinders
market include increasing industrial automation and growth of e-commerce
industry. Automation of various industrial processes through robotics and
machinery has been a major trend globally, driving the demand for electric
actuators like cylinders. Furthermore, automation of warehousing, order
fulfillment and packaging processes has also increased significantly due to the
rapid growth of e-commerce. This has further propelled the adoption of electric
linear cylinders, mainly for applications like order picking systems. Rising
labor costs also encourage industries to automate routine tasks which was
previously done manually.
SWOT Analysis
Strength: Electric linear cylinders provide precise positioning and repetition
accuracy. They offer high thrust and force with minimal maintenance. Their
linear motion helps perform picking, placing, assembly and packaging
applications efficiently.
Weakness: Initial investment costs for electric linear cylinders are high
compared to pneumatic or hydraulic systems. Require skilled professionals for
installation and programming.
Opportunity: Growing adoption of industrial automation and robotics is creating
opportunities for electric linear cylinders in various end-use industries like
automotive, semiconductor, food processing etc. Integration of IoT and cloud
connectivity is allowing remote monitoring of cylinder performance.
Threats: Fluctuations in raw material prices can increase the overall system
costs. Open source technologies for linear motion control pose pricing pressure
on established players.
Key Takeaways
The Global
Electric Linear Cylinders Market Size is expected to witness high
growth, exhibiting CAGR of 5.1% over
the forecast period, due to increasing adoption of industrial automation across
various industries.
Regional analysis
Asia Pacific dominates the global market and is expected to maintain its
leading position over the forecast period, growing at a CAGR of over 6%. This can be attributed to rapid industrialization
and presence of key automotive manufacturers in China and India. Europe and
North America are other major markets for electric linear cylinders driven by
high demand from food processing and semiconductor industries.
Key players
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.
Read more: https://www.rapidwebwire.com/electric-linear-cylinders-market-forecast-share/
Comments
Post a Comment