• Stacy Lawlor

Global Ball Screw Market Size to grow USD 2468.63 million by 2028

The Global Ball Screw Market Size is projected to grow from USD 1648.76 million in 2020 to USD 2468.63 million by 2028 at a CAGR of 5.20% during the forecast period.

Global Ball Screw Market Size to grow USD 2468.63 million by 2028

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A ball screw is an inclined plane that revolves around a cylinder made of a variety of materials. The screw is a cylinder with a sild head on one end and a pointy tip on the other end, similar to a nail, and most significantly, ridges winding around it. The thread is the ridges that go around the cylinder. The ball screw is only utilized in specialized industries. The ball screw's main function is to convert rotary motion into linear motion, which is used in a variety of tasks. The ball screw assembly consists of a ball nut and a ball screw with recirculating ball bearings.


The Ball Screw Market is driven by increasing demand for ball screws in cutting-edge technology products. Ball screws are utilized in a variety of applications, including machine tools, semiconductors, medical equipment, and laboratory equipment. Ball screws are also utilized in operations such as the PAXWAY aircraft passenger boarding bridge at airports, the control system for nuclear power plant control rods, and the control system for chemical plant pipework. The market for ball screws is primarily driven by the aforementioned applications during the forecast period.

Global Ball Screw Market Size

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Over the previous 18 months, almost every industry in the world has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns and other limitations imposed by governments all over the world. The global Ball Screw market is no exception. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the aforementioned factors are likely to weigh on the worldwide Ball Screw market's revenue trajectory. The global Ball Screw market is likely to revive as regional government agencies begin to abolish these enforced lockdowns.


Increasing Expansion in The Aviation & Aerospace Industries Provides Lucrative Opportunity


Precision ball screws are in high demand in the semiconductor, aviation and aerospace, and medical diagnostic equipment industries because of their high load-bearing capacity, precision, low friction, and positional accuracy. As a result, throughout the forecast period, expansion in the semiconductor, aviation & aerospace, and medical diagnostic equipment industries is likely to boost the ball screw market.


Increasing Adoption of Industrial Automation Is a Major Driver Propelling Market Growth


The ball screw is mostly used in cutting-edge technology items. It is also used in the manufacture of airplane flaps. Aside from these applications, the ball screw is utilized at airports, PAXWAY, in airplane passenger boarding bridges, in the control system for chemical plant piping, in the control system for nuclear power plant control rods, and in a pressure tube inspection system. The global ball screw market is growing due to the rising use of the aforementioned products and sectors. Furthermore, the increasing adoption of industrial automation is a major driver propelling the global ball screw market forward. The use of industrial robotics is increasing for human convenience, which is expected to fuel market expansion.


The Asia-Pacific region holds the greatest revenue share and is expected to increase significantly throughout the projected period due to the growth in the formation of industries and other varied operations. Moreover, countries like India and China are seeing rapid expansion in the establishment of industries and other businesses. Also, Japan has a huge number of industries, which produce a demand for ball screws, which is propelling market growth during the forecast period.

Global Ball Screw Market Size

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North America is the second-largest market for ball screws due to factors such as rising new technological innovations and automation in various operations. Moreover, with rising demand for end-use industries combined with high penetration of infrastructure across enterprises, the North American region currently holds a dominant position in the market and is expected to maintain this trend during the forecast period. Western Europe and Eastern Europe are also important markets for ball screws, as both regions have a diverse range of sectors. MEA and Latin America are both experiencing growth in the oil and gas industry, as well as other industries, which is fueling demand for ball screws in these regions.


KEY INDUSTRY DEVELOPMENTS:


In September 2019, THK Co. Ltd. introduced the BNS-V and NS-V low inertia ball screw splines, which are aimed to improve the takt time of horizontal articulated robots. These products are also compact, lightweight, and have a low moment of inertia.


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https://www.extrapolate.com/machinery-equipment/ball-screw-market/25677

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