0

Precision Ball Screw Market Expected to Reach $3.2 Billion by 2032—Allied Market Research

 
2022
Precision Ball Screw Market

Report Code : A02905

quote The precision ball screw market is witnessing a rapid surge owing to the swift growth of end users such as semiconductor manufacturing industries, medical industries, and others. In 2020, Asia-Pacific held the highest market share in terms of revenue, and the same region is expected to grow with the highest CAGR during the forecast period. quote

Sonia Mutreja - Manager
Construction and Manufacturing at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Precision Ball Screw Market," The Precision Ball Screw Market Size was valued at $1.7 billion in 2020, and is estimated to reach $3.2 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032. The growth of the market is driven by growth in the semiconductor, aerospace, and medical diagnostic equipment industries. Technological advancements such as industrial automation, robotic surgery, and robotic material handling is expected to boost the demand for precision ball screw across the globe. They are used in industries such as semiconductor manufacturing, medical diagnostic equipment, and aviation & aerospace owing to its features and properties such as precision, accuracy, repeatability, high load bearing capacity, and low friction to movement.  

Asia-Pacific serves as the most productive region compared to others with diverse industry verticals significantly investing for business expansion and growth in semiconductor and aerospace sectors is anticipated to boost demand for precision ball screws. Asia-Pacific dominated the market in 2020, in terms of revenue, accounting for nearly half of the global precision ball screw market share, followed by Europe.

The economy of Asia has increased over past couple of years, owing to rapid industrialization, which boosts the growth of the aerospace, semiconductor, and healthcare industries. This, in turn, is expected to fuel the precision ball screw market growth during the forecast period. In addition, Asia-Pacific presents high growth opportunities for the market owing to its cheap labor and relatively easy labor laws.

Commonly observed types of precision ball screws are ground and rolled. Out of these two segments, the ground segment accounted for the largest share in the global precision ball screw market in 2020, and is expected to witness significant growth during the forecast period, owing to technical innovations and deployment in semiconductor and medical devices industries. The rolled segment also held a considerable share in 2020. Rolled precision ball screws are generally used for general industrial and automation applications, owing to its features such as high load bearing capacity, high power transmission rate, and economical cost. In addition, rise in adoption of high precision robots is expected to drive demand for rolled precision ball screws during the forecast period.

On the basis of sales channel, the market is bifurcated into offline and online. Out of these segment the, offline segment held a larger market share in terms of revenue. Offline stores are advantageous over online stores in terms of low lead time, and the fact that products can be checked for their quality before buying. However, the online segment is expected to dominate the precision ball screw market forecast by growing with a higher CAGR during the forecast period. Online stores offer a wide variety of product from small to large. However, it is suitable for small scale purchase for spare parts application.

In terms of application, the semiconductor segment secured highest share in the precision ball screw market in 2020, and is expected to grow at a CAGR of 6.2% during the forecast period, owing to increase in the manufacturing sector around the globe. Precision ball screw is used for linear motion in semiconductor equipment such as printed circuit board (PCB) and integrated circuits (IC) manufacturing machines, circuit board plotters, PCB Milling machines, dicing machines, panel prober table units, glass substrate conveyor equipment, and glass edge polishing units. These factors are expected to provide lucrative growth opportunities to market players in developing economies.

The key players operating in the global precision ball screw market have adopted product launch and acquisition as their key developmental strategies to strengthen their foothold in the global market. For instance, in May 2021, Ewellix, formerly SKF Motion Technologies, has launched a new smooth running, high precision large ball screw range for automation and high duty applications that will extend machine reliability and increase service life, while achieving 25% higher speed limits and low noise levels.

The market is witnessing hurdles in growth owing to the economic downturn triggered by the Ukraine-Russia war. The war has led to increased volatility in oil and gas prices which eventually leads to increased costs of all products including the raw materials such as steel used by the manufacturing industry.

The key players profiled in the precision ball screw market analysis include Barnes Industries Inc., Bosch Rexroth, Hiwin Corporation, Koyo Machinery, Kuroda Precision Industries, Nidec Corporation, PMI Group, Schaeffler AG, SKF, and THK Co. Ltd.

 KEY FINDINGS OF THE STUDY

  • The report provides an extensive the market analysis of the current and emerging precision ball screw market trends and dynamics. 
  • Depending on type, the ground segment dominated market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
  • Depending on sales channel, the offline segment dominated market, in terms of revenue in 2020; however, the online segment is projected to grow at a higher CAGR during the forecast period.
  • By application, the semiconductor segment registered highest revenue in 2019.
  • Asia-Pacific region is projected to register the highest growth rate in the coming years.
  • The key players within market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the precision ball screw industry.
  • The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
  • In-depth analysis is conducted by constructing estimations for the key segments between 2023 and 2032.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Precision Ball Screw Market by Type (Ground, Rolled), by Sales Channel (Offline, Online), by Application (??m???ndu?t?r ??nuf??tur?ng ?qu??m?nt, ??d???l ?qu??m?nt, L?b?r?t?r? ?qu??m?nt, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date May 2024

FMCG Packaging Market

Download Sample
rep-img

Published Date May 2024

Pet Insurance Market

Download Sample
rep-img

Published Date May 2024

Forex Brokers Market

Download Sample

Buy Full Version
"Precision Ball Screw Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers