Electric Linear Cylinders are Estimated to Witness High Growth Owing to Wide Industrial Applications
Electric linear cylinders are electro-mechanical actuators that converts electric power into linear motion. They are used in various industrial applications including material handling, assembly lines, sorting facilities, and robotics. Some key products powered by electric linear cylinders include conveyor systems, packaging machinery, inspection equipment, construction machinery, automated guided vehicles, and collaborative robots.
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 Dynamics:
One of the key drivers for the growth of the electric linear cylinders market size is the wide industrial applications. Electric linear cylinders find widespread use in various manufacturing industries such as automotive, food & beverages, electronics, pharmaceuticals, and plastics. They are used in assembly lines, transfer systems, pick & place machines, packaging equipment, and positioning mechanisms. The growing industrial automation globally is augmenting the demand for electric linear cylinders from applications such as material handling, machine tending, palletizing, and sorting & inspection. According to the International Organization of Motor Vehicle Manufacturers, global vehicle production increased from around 95 million units in 2018 to over 96 million units in 2019. This points towards continued growth opportunities for electric linear cylinders from the automotive industry.
Electric linear cylinder offers advantages like precision, variable speed control, low maintenance, dust and water resistance over pneumatic or hydraulic cylinders. Also, they eliminate the need for compressors or pumps required for pneumatic or hydraulic systems respectively. This reduces the overall operating costs. The abovementioned factors are expected to propel the electric linear cylinders market growth over the forecast period.
SWOT Analysis
Strength: Electric linear cylinders have greater precision and accuracy over conventional hydraulic or pneumatic cylinders. They provide precise linear motion which is important in many industrial automation applications. Being electrically powered, they are cleaner and require less maintenance than hydraulic cylinders. Electric linear cylinders produce minimal noise and vibration compared to other types of actuators.
Weakness: Electric linear cylinders have higher initial purchase costs compared to hydraulic cylinders. Power wires and control cabling add complexity to installation and might limit movement range in some applications. There is also a risk of damage to the motor in case of overloading.
Opportunity: The growing industrial automation trend and increasing demand for precision automation offers significant growth opportunities for electric linear cylinders. Many industries are seeking to replace hydraulic systems with electric actuators for their cleaner, greener and more precise operation. Advancements in motor and driver technologies is further enhancing capabilities of electric cylinders.
Threats: Availability of low-cost pneumatic cylinders continues to threaten demand for electric cylinders in price-sensitive segments. Fluctuations in raw material prices can increase production costs. Intense competition among established players may lead to pricing pressures.
Key Takeaways
The global electric linear cylinders market is expected to witness high growth over the forecast period of 2023 to 2030. Growing industrial automation trends and demand for precision automation are the major drivers for market growth. 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.
Regional analysis:
Europe currently dominates the market with the highest demand for electric linear cylinders due to widespread industrial automation. Germany, Italy and U.K. are among the largest consumers. Asia Pacific is expected to be the fastest growing market led by China, Japan and India. Low labor costs and availability of inexpensive electric cylinder alternatives may restrain market growth in some emerging regions.
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. The competitive environment is intense with established players focusing on new product development and geographical expansion.
Get more insights on this topic: https://www.newswirestats.com/electric-linear-cylinders-market-size-and-outlook-2023-2030/
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