Press release
Precision Ball Screw Market Worth $2,043.9 Million by 2027 | by Type, Application
Precision Ball Screw Market
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Growth of the global precision ball screw market is driven by growth in 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 2019, in terms of revenue, accounting for around 46.0% 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 growth of aerospace, semiconductor, and healthcare industries. This, in turn, is expected to fuel the precision ball screw market growth during the forecast period.
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Global Precision Ball Screw Market Segments
By Type
Ground Precision Ball Screw
Rolled Precision Ball Screw
By Application
Semiconductor
Medical
Laboratory
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
The key players profiled in the precision ball screw market report include Barnes Industries Inc., Bosch Rexroth, Hiwin Corporation, Koyo Machinery, Kuroda Precision Industries, Nidec Corporation, PMI Group, Schaeffler AG, SKF, and THK Co. Ltd.
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