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Precision Ball Screw Market Anticipated to Reach $2,043.9 Million by 2027

08-23-2021 10:32 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Precision Ball Screw Market

Precision Ball Screw Market

Precision ball screw is a mechanical element, which converts rotary motion into linear motion. It produces high mechanical efficiency in transmission of motion as it works on rolling friction, which makes it a preferred option for industrial applications such as robotics, material handling, and general-purpose machines.

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The global precision ball screw market size was valued at $1,571.0 million in 2019, and is projected to reach $2,043.9 million by 2027, registering a CAGR of 5.1% from 2020 to 2027.

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.

Key Market Players

Barnes Industries Inc.
Bosch Rexroth
Hiwin Corporation
Koyo Machinery
Kuroda Precision Industries
Nidec Corporation
PMI Group
Schaeffler AG
SKF
THK Co. Ltd.

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Covid-19 Impact Analysis

The outbreak of COVID-19 has a negative impact on the manufacturing and production of precision ball screws in the first and second quarter of 2020, and is likely to hamper the growth throughout the year. This has further affected the demand for precision from developing countries, including India, China, and others; thereby, halting the production activities. In addition, the disruption of supply chains is causing hindrance in manufacturing of the precision ball screw around the globe.

Key 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

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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