Precision Ball Screw Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Precision Ball Screw Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global precision ball screw market size reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Precision ball screws are mechanical devices that convert rotatory motion into linear motion. They comprise long-threaded shafts with ball bearings to resist significant stress and weight while providing a rolling surface. They offer several benefits, including high efficiency, better load capacity, and positioning accuracy. As a result, they find extensive applications in robotics, material handling, manufacturing plants, construction works, advertising companies, retail, printing and machinery repair shops, and computer numerical control (CNC) machines. Besides this, precision ball screws are employed in the energy and mining, food and beverages (F&B), automotive, and aerospace industries worldwide.

Precision Ball Screw Market Trends:

At present, there is a rise in the demand for medical diagnostics equipment that requires precisely controlled movements for efficient operations. This, along with the growing utilization of precision ball screws in dental milling machines, surgical robots, and robotic endoscopy equipment, represents one of the key factors driving the market. Moreover, there is a rise in the usage of these screws in semiconductors to reduce friction and extend the lifespan of machines. This, coupled with increasing investments in the semiconductor industry by governments of numerous countries, is offering lucrative growth opportunities to industry players. In addition, there is a rise in the use of precision ball screws in the aviation and aerospace industry as they aid in withstanding heavy loads. They also eliminate leakage, sponginess, and issues associated with hydraulic and pneumatic systems in aircraft. Furthermore, key market players are introducing new and enhanced precision ball screws to extend machine reliability and achieve higher speed limits and lower noise levels in vehicles, which is projected to bolster the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global precision ball screw market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

Ground Precision Ball Screw
Rolled Precision Ball Screw

Breakup by Application:

Semiconductor 
Medical 
Laboratory 
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Hiwin Corporation, Koyo Machinery USA Inc., KSS Co. Ltd., KURODA Precision Industries Ltd., Nidec Corporation, NSK Ltd., PMI Group (Precision Motion Industries Inc.), Robert Bosch GmbH, TBI Motion Technology Co. Ltd., THK Co. Ltd. and Tsubaki Nakashima Co. Ltd.

Key Questions Answered in This Report:

What was the size of the global precision ball screw market in 2022?

What is the expected growth rate of the global precision ball screw market during 2023-2028?

What are the key factors driving the global precision ball screw market?

What has been the impact of COVID-19 on the global precision ball screw market?

What is the breakup of the global precision ball screw market based on the type?

What is the breakup of the global precision ball screw market based on the application?

What are the key regions in the global precision ball screw market?

Who are the key players/companies in the global precision ball screw market?