The North America Precision Ball Screw Market would witness market growth of 4.5% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,901.7 thousand units, showcasing a growth of 16.5% (2020-2023).
Ground ball screws find applications in CNC machines, industrial robots, semiconductor manufacturing equipment, and aerospace actuators, among others. Thus, the Canada market consumed 252.8 thousand units of precision ball screw in the market 2021.
The US market dominated the North America Precision Ball Screw Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $458.7 million by 2031. The Canada market is experiencing a CAGR of 6.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6% during (2024 - 2031).
This screw is a mechanical component used in linear motion systems to convert rotary motion into precise linear motion. It consists of a threaded shaft (screw) with grooves or helical channels along its length and a nut containing ball bearings that run along the grooves.
Moreover, the shaft rotates, the ball bearings move along the grooves, causing the nut to move linearly along the shaft. The market represents a pivotal segment of industrial machinery and automation, offering advanced solutions for converting rotational motion into precise linear motion.
North America's digital economy thrives on tech innovation, e-commerce, digital media, telecommunications, and fintech. The region remains at the forefront of the digital revolution, driving economic prosperity and technological advancement. According to Statistics Canada 2021, nominal GDP associated with digital economic activities in Canada totaled 5.5% of the total economy in 2019, or $118 billion.
Free Valuable Insights: The Precision Ball Screw Market is Predict to reach USD 2.7 Billion by 2031, at a CAGR of 5.3%
Based on Type, the market is segmented into Ground, and Rolled. Based on Application, the market is segmented into Ѕеmісоnduсtоr Маnufасturіng Еquірmеnt, Меdісаl Еquірmеnt, Lаbоrаtоrу Еquірmеnt, and Others. Based on Sales Channel, the market is segmented into Offline, and Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Sales Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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