Global Ball Screw Market to step up and reach USD 28.27 Billion By 2024
Posted On September 14, 2018
Value Market Research examines the Global Ball Screw Market for the period 2017-2024. It offers historical data from 2013 along with estimated data of 2017 and forecasts data up to 2024 in terms of (USD MN) revenue. This study demonstrates that the global ball screw market was valued at USD 17.03 Billion (by revenue) in 2017 and is anticipated to reach USD 28.27 Billion by 2024 with a CAGR of 7.5%. The ball screw is the most popular types of screw used in industrial machinery and precision machines. Technically, they are used to convert rotary motion to linear motion or torque to thrust, and vice-versa.
Owing to their extraordinary features such as high accuracy, efficiency, and reversibility they have been adopted in wide range of application across precision machine tools, industrial machinery, electronic machinery, aerospace industry, and transport industry. In Precision machine tool they are mainly used in a milling machine, grinder, gear manufacturing machine, drilling machine, etc. In Industrial machinery, the ball screw is used in the paper-processing machine, printing machine, textile machine, and drawing, machine. Electronic machinery comprises of the surface mounting device, semiconductor equipment and factory automation equipment where the ball screw is highly in demand. In the aerospace industry, the ball screw is extensively used in aircraft flaps, airport loading equipment, and fin actuator. In the transport industry, the ball screw is especially used in material handling equipment.
Current and future growth status of the market is elaborately covered in the report "Global Ball Screw Market segmented By Sales Channel (OEM and Aftermarket), By Applications (Pipelines, PAXWAY, and Industrial Robotics), By End-User (Aviation, Energy & Utilities, and Fabrication) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2017-2024".
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Industrial, transport, electronics, and other manufacturing sectors are an indispensable part of today's world and are growing gradually which will subsequently fuel the demand for the ball screw worldwide. Rising adoption of automation system across various industries, and rising use of industrial robotics across manufacturing sector, is the major reasons of the growth of ball screw demand. However, high price of the ball screw is the only major factor which limits its demand.
In the report segmentation has been done on the basis of sales channel, application, end-user, and region. Sales channel include OEM and aftermarket, among these two, OEM, is gaining hype owing to rising adoption of OEM channel especially by MNCs, small enterprises & startups. Application area comprises of pipelines, PAXWAY, and industrial robotics. Industrial automation is dominating the segment due to the rise in automation, growing need for better work efficiency, product quality & operation rate are the major factor driving the demand of the product across industrial automation. The end-user segment is segregated into aviation, energy & utilities, and fabrication. Aviation is dominating the segment owing to the extensive use of ball screw in aerospace especially in actuator accessories of aircraft flap, braking system, and horizontal stabilizer is fueling the segment growth. On the basis of regional segmentation, the global ball screw market has been analyzed across top five key regions including, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is ruling the global ball screw market owing to ongoing rapid industrialization in countries such as India & China along with the rising adoption of automated system across various end-user industry.
The Report Segments Global Ball Screw Market -
By Sales Channel
- By Application
- Industrial Robotics
- Energy & Utilities
- North America
- Latin America
- Middle East & Africa
Bosch Rexroth AG, Hiwin Technologies Corp., KURODA Precision Industries Ltd., NSK Ltd., Schaeffler Technologies AG & Co. KG, Svenska Kullagerfabriken AB, TBI MOTION Technology Co. Ltd. and THK Co., Ltd.
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