“Global Precision Ball Screw Market to reach a market value of USD 2.7 Billion by 2031 growing at a CAGR of 5.3%”
The Global Precision Ball Screw Market size is expected to reach $2.7 billion by 2031, rising at a market growth of 5.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 2,748.6 thousand units, experiencing a growth of 5.3% (2020-2023).
Rapid industrialization, technological advancements, and a growing demand for automation across various industries in the Asia Pacific region characterize the market. Thus, the Asia pacific region acquired 49.1% revenue share in the market 2023. In terms of volume the Asia pacific region captured a volume of 6,569.0 thousand units in the market 2023.
Precision ball screws are known for their high efficiency in converting rotary motion into linear motion, resulting in reduced energy consumption compared to alternative motion control solutions such as hydraulic or pneumatic systems.
Additionally, Precision ball screws are used in medical imaging equipment such as MRI machines, CT scanners, and X-ray machines. These devices require precise and smooth movement to position imaging components accurately. Any disruption or malfunction in this can affect the quality of medical images, diagnosis, and patient care. Thus, the expansion of electric vehicles (EVs) and automation led to the expansion of the market.
However, Precision ball screws require high-quality materials to ensure durability, accuracy, and performance. The materials used, such as hardened steel or stainless steel for the screw shaft and precision-ground ball bearings, can be expensive, contributing to the overall cost of the component. Therefore, the increasing adoption of alternative technologies is obstructing the growth of the market.
Based on type, the market is characterized by ground and rolled. The ground segment garnered 71.4% revenue share in the market in 2023. In terms of volume, the ground segment attained a volume of 8,775.2 thousand units in the market 2023.
By application, the market is fragmented into sеmісоnduсtоr mаnufасturіng equірmеnt, mеdісаl equірmеnt, lаbоrаtоrу equірmеnt, and others. In 2023, the mеdісаl equірmеnt segment acquired 27.3% revenue share in the market. In terms of volume, the medical equipment segment attained a volume of 2,750.0 thousand units in the market 2021.
On the basis of sales channel, the market is classified into offline and online. The offline segment recorded 86% revenue share in the market in 2023. For specialized and low-volume production needs, the offline segment remains relevant.
Free Valuable Insights: Global Precision Ball Screw Market size to reach USD 2.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 38% revenue share in the market in 2023. The Asia Pacific region is home to rapidly growing economies such as China, India, and Southeast Asia, where industrial activities and energy consumption are rising. Industrial sectors such as manufacturing, construction, and transportation rely heavily on petroleum products for fuel, lubricants, and raw materials. As industrialization progresses, the demand for these depressants to ensure the smooth flow of petroleum products in industrial processes increases accordingly.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.8 Billion |
| Market size forecast in 2031 | USD 2.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.3% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 310 |
| Number of Tables | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Sales Channel, Application, Region |
| Country scope |
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| Companies Included | Bosch Rexroth AG (Robert Bosch GmbH), Nidec Corporation, Schaeffler AG, Rockford Systems, LLC, Danaher Corporation, ThyssenKrupp AG, Hiwin Corporation, Barnes Industries Inc., Koyo Machinery U.S.A., Inc. (JTEKT Machine Systems Corporation.), SKF Group |
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 Geography (Volume, Thousand Units, USD Billion, 2020-2031)
The Market size is projected to reach USD 2.7 billion by 2031.
Increasing focus on the usage of energy efficiently are driving the Market in coming years, however, High expense of initial investment restraints the growth of the Market.
Bosch Rexroth AG (Robert Bosch GmbH), Nidec Corporation, Schaeffler AG, Rockford Systems, LLC, Danaher Corporation, ThyssenKrupp AG, Hiwin Corporation, Barnes Industries Inc., Koyo Machinery U.S.A., Inc. (JTEKT Machine Systems Corporation.), SKF Group
In the year 2023, the market attained a volume of 2,748.6 thousand units, experiencing a growth of 5.3% (2020-2023).
The Ѕеmісоnduсtоr Маnufасturіng Еquірmеnt is leading dominated the Market by Application in 2023; thereby, achieving a market value of $886.7 million by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.4 billion by 2031.
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