This work analyses the effects of segmentation followed by parallel magnetization of ring-shaped NdFeB permanent magnets used in slotless cylindrical linear actuators. The main purpose of the work is to evaluate the effects of that segmentation on the performance of the actuator and to present a general overview of the influence of parallel magnetization by varying the number of segments and comparing the results with ideal radially magnetized rings. The analysis is first performed by modelling mathematically the radial and circumferential components of magnetization for both radial and parallel magnetizations, followed by an analysis carried out by means of the 3D finite element method. Results obtained from the models are validated by measuring radial and tangential components of magnetic flux distribution in the air gap on a prototype which employs magnet rings with eight segments each with parallel magnetization. The axial force produced by the actuator was also measured and compared with the results obtained from numerical models. Although this analysis focused on a specific topology of cylindrical actuator, the observed effects on the topology could be extended to others in which surface-mounted permanent magnets are employed, including rotating electrical machines.