Precision Link Carrier Market Forecast and CAGR
Precision link carrier identifies the components with quality, speed, and high accuracy which allows the manufacturing companies to improve the efficiency of their assembly, marking & welding and also helps in the mechanical and optical inspection of various parts.
They help in automated assembly various manufacturing industries with accuracy and reliability due to which the demand for the product is increasing. Between, 2021-31 the precision link carriers business is anticipated to grow at a CAGR of more than 7 %
This comprehensive report is intended to provide readers with a complete understanding of dynamics in the market. The report also provides a decision support framework that can help stakeholders of the industry to take the data-driven decision on growth, expansion, acquisition, and capacity addition.
What is Driving Demand for Precision Link Carrier Market?
One of the major driving demands for precision link carriers is high-speed component assembly, especially when there are a large number of parts and complex assemble processes. Additionally, work operations are carried out along the carrier’s liner section.
Precision link carriers have compact modular-component and versatile design which is making them perfect for industries such as aerospace, solar, automotive, consumer products, etc., and medical devices as well.
Also, they have the capability of precisely moving the fixtures, without the need for extra positioning systems to locate fixture parts before the start of procedures. With these many positives, the demand for precision link carriers is increasing and is estimated to project a double-digit CAGR by the end of 2031.
Aluminum Component in the Precision Link Carrier will lead to Market Growth
The precision link carrier frames are typically comprised of an expanded aluminum frame and steel plates, with a machined, hardened, and ground steel link track. Aluminum extrusion frames have the benefits of being flexible during long-distance transportation of the components kept on it. In addition, they are easy to assemble and allows for easy mounting of accessories.
The aluminum links have less mass than steel links and possess high mechanical strength. Thus, they can carry heavy components with ease for longer distances. The benefits of the aluminum component in precision link carriers are attracting end-users in the market.
Asia Pacific Region Precision Link Carrier Market Outlook
The increase in demand of cosmetics and related industry in Asia Pacific region which is expected to project higher market value in the coming years. The precision link carrier has a wide range of applications in the cosmetics industry as they are used to carry components and products to various parts of the plant. Thus, the demand for precision link carriers is high in this industry.
The Asia Pacific consumer electronics market is estimated to increase at a CAGR of over 8%. By the end of 2031. This is attributed to the fact that consumer electronics consumption in middle and high-income families is being driven by the region’s rapidly increasing urbanization and population expansion.
With the increase of the electronic industry demand for precision link carriers is significantly increasing as they play a major role in the assembly lines in the manufacturing units. This in turn is supporting the demand in the regional market.
The COVID-19 has put an adverse effect on the precision link carrier market due to the shutdown of the industries which in turn affected sales of the product. Since the precision link carriers are a major part of manufacturing units’ assembly line, its market recovery will be at a faster pace and the demand curve is estimated to be back on track by Q4 of 2021.
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North America Precision Link Carrier Market Outlook
The North American demand is expected to grow at a faster pace, owing to an increase in product development and the region’s industrial activities. The manufacturing sector is increasing at a rapid pace the demand for automation in manufacturing units for transportation and assembly of components has been one of the prime drivers of the precision link carrier business.
The key players in this region are extensively investing in improving the existing technology and bringing new innovation in the product in order to attract newer end-users and convince the existing customer base to upgrade to newer tech for their manufacturing plants.
Owing to the above-mentioned factors, North America is supposed to maintain its market dominance in the coming years and will support the overall precision link business as a whole.
Who are the Key Players Present in Market?
Manufacturers, suppliers, and distributors are among the key participants recognized across the globe which includes:
- Packam Controls
- Motion Index Drives Inc.
- Stelron Components
- ITALPLANT srl
- Sankyo Automation
- DESTACO (Dover Corporation)
- Cyclo Index (Leggett & Platt)
- CDS (Bettinelli).
The market is fragmented with presence of a lot many players. The dominant players focuses on the product development and are bringing new innovation in precision link carrier. Players use a variety of tactics to stay competitive in the industry and to meet customer demand, they are expanding their business across different regions.
An Adaptive Approach to Modern-day Research Needs
The precision link carrier market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Precision Link Carrier Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Interested to Procure The Data
Based on product type, the market is segmented into:
- Carousel Conveyor
- Over-Under Conveyor
Based on end-use applications, the market is segmented into:
- Consumer Goods
Based on region, the market is segmented as
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company