Published Date : 18 Sep 19 | Views: 177 | Industry : Machinery & Equipment
Automotive Industry to Witness Significant Growth
The global electromechanical cylinders market can be segmented based on the application as food industry (food & beverage), medical industry, automotive industry, and others. Industrial sector and automotive industries are expected to emerge as the key application industries in the forthcoming years owing to the fact that these industries make extensive usage of electromechanical cylinders in the manufacturing processes. On the basis of product, the global electromechanical cylinders market can be segregated as <100mm/s, 100mm/s-500mm/s, 500mm/s-1000mm/s, and others. The report offers detailed analysis regarding the product types of electromechanical cylinders, which are projected to witness widespread application in the near future.
High production of Electromechanical Cylinders to Give Europe an Upper Hand
High production of electromechanical cylinders in Europe to act as a key factor in driving the regional market. North America is anticipated to emerge as the largest consumer of electromechanical cylinders in the coming years. This is attributed to presence of key end-use industries in the region, which, in turn, is raising the demand for electromechanical cylinders. Technological innovations and addition of advanced features in the product are also expected to act as key factors driving the electromechanical cylinders market in North America.
However, growth of the end-user industries such as pharmaceutical and automotive and infrastructure development are expected to foster the electromechanical cylinders market growth in Asia Pacific.
Moog Flo, Bosch Rexroth AG, BJ Gear, Tsubakimoto, RACO, Tork, Mul, T, Lock, Exlar, Parker, Venture, SKF, Linearmech, and AIM are some of the key players operating in the global electromechanical cylinders market.
Increasing Demand for Electromechanical Cylinders among Industries to Act as a Key Driver
Construction, material handling, and automotive industries are increasingly demanding electromechanical cylinders as they offer long life cycle and high accuracy and speed. Besides that, maintenance cost associated with them is quite low in comparison with conventional cylinders. Installation of electromechanical cylinders is also faster and safer, thereby making it the most preferred among the end-use industries. These factors are prophesied to surge the demand for electromechanical cylinders in the forthcoming years.
In addition, high investment in innovation by the key companies and increasing number of research and development activities are expected to have a positive impact on the market growth in the near future.
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