May 21, 2024
Electric Linear Cylinders Market

Electric Linear Cylinders Market Is Estimated To Propelled By Increasing Industrial Automation

Electric linear cylinders are actuators that use electricity to provide linear motion and find widespread applications in industrial automation owing to their precise controllability. They deliver smooth and accurate motion, require low maintenance and can be controlled electronically without any additional valves or linkages. The global Electric Linear Cylinders Market offers products like single-rod cylinders, double-rod cylinders, welded cylinders and others that facilitate various functions such as lifting, lowering, extending, retracting etc. across industries.

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 9.6%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

An increasing number of industries are automating their production processes to improve efficiency and minimize costs. Electric linear cylinders are increasingly replacing pneumatic and hydraulic cylinders in automated applications owing to their easy integration into control systems. They provide precise control for complex sequence of actions with high resolution. The growing industrial automation is expected to propel the demand for electric linear cylinders during the forecast period.

SWOT Analysis

Strength: Electric linear cylinders have precision control and zero maintenance requirements which reduces total operating costs. They provide smoother movements and greater accuracy compared to pneumatic cylinders.

Weakness: High initial investment costs are required for electric linear cylinders compared to pneumatic cylinders. They have additional components like drivers, motors, encoders which increases complexity.

Opportunity: Growing adoption of industrial automation and robotics offers huge market opportunity for electric linear cylinders. Rising demand from semiconductors, electronics, food processing industries will drive the market growth.

Threats: Availability of low-cost pneumatic cylinder substitutes poses tough competition to electric linear cylinders. Trade wars and geopolitical issues can impact sourcing of critical components.

Key Takeaways

The global Electric Linear Cylinders Market Share  is expected to witness high growth over the forecast period of 2023 to 2030. 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 9.6%  over the forecast period 2023 to 2030.

North America is currently the largest regional market for electric linear cylinders accounting for around 35% of global sales in 2023. Factors such as presence of major semiconductor companies, food processing firms and adoption of industrial automation are fueling the demand. Europe is the second largest regional market for electric linear cylinders driven by advanced manufacturing sector in Germany, Italy, UK. Large automotive component suppliers and electronics firms are key consumers. The Asia Pacific region is projected to be the fastest growing regional market during the forecast period expanding at a CAGR of over 10%. Rapid industrialization in China and India coupled with supportive government policies for manufacturing sector will propel demand.

Key players operating in the electric linear cylinders market are Amgen Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Pfizer Inc., Sanofi, Eli Lilly and Company, AbbVie Inc., Novo Nordisk A/S, Bristol-Myers Squibb Company, NanoString, QIAGEN, Affimed GmbH, GSK plc., Merck KgaA, and Teva Pharmaceutical Industries Ltd. Established players are investing in development of next-generation linear actuators with IoT connectivity and predictive maintenance features to gain competitive edge.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it