Growing usage of ball screw in airplane flaps and aircraft passenger boarding bridge is likely to upsurge the ball screw demand. High mechanical efficiency to transform circular motion into linear motion due to low friction is the key factor increasing its demand in end-use industries. Booming aviation industry along with increasing demand for luxury vehicles is expected to propel the market growth over the forecast period. Also, rising usage of ball screw in robotics & highly accurate machining tools to increase accuracy & minimize error is further raising the product demand.
As per the latest report added by Value Market Research, the Global Ball Screw Market was valued at USD 17,030.8 MN (by revenue) in 2017 and is anticipated to reach USD 28,276.7 MN by 2024 with a CAGR of 7.5%.
OEM TO GAIN TRACTION
OEM channel is anticipated to reach USD XX.X MN by the end of 2024. High adoption of OEM channel by MNCs and especially small enterprises & startups to sell their product is fueling the segment growth. Governmental support to OEM with increasing trend of MNCs towards outsourcing manufacturers especially from China due to advanced technologies & low-cost skilled labor will foster the market growth.
INDUSTRIAL ROBOTICS HAS LED THE APPLICATION SEGMENT
Industrial Robotics is anticipated to reach USD XX.X MN by the end of 2024. Industrial robotics segment is driven by factors such as rise in automation, growing need of better work efficiency, product quality & operation rate. Furthermore, rising demand of industrial robotics in automotive and engineering sector is further adding impetus growth to the segment.
AVIATION IS THE LEADING END-USE INDUSTRY
Industrial Robotics is anticipated to reach at USD XX.X MN by the end of 2024. Extensive use of ball screw in aerospace especially in actuator accessories of aircraft flap, braking system, and horizontal stabilizer is fueling segment growth.
APAC IS LEADING THE GLOBAL BALL SCREW MARKET
APAC has dominated the regional segment and is presumed to continue to the same & reach USD XX.X MN by the end of 2024. Rapid industrialization in countries such as India & China followed by rising automation and technological advancement are the key traits leading regional ball screw market.
KEY PLAYERS OF THE BALL SCREW MARKET
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.
As per this study the Global Ball Screw Market was valued at USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%.
The ball screw is a vital transmission element for converting rotary motion into linear motion. The basic component of ball screw includes - shaft, nut, and balls in the thread between them. Owing to its less frictional resistance property, excellent wear resistance high transmission efficiency, and reversibility advantages, it has been widely adopted in the machine tool industry, industrial robots, agricultural machinery and others. The ball screw is also known as recirculating ball screws, ball bearing screws, etc. It comprises of a screw spindle and a nut assimilated with balls and the balls’ return mechanism, return tubes or caps. They are the most common type of screws used in automation industry and precision machines.
Ball screw has a broad range of usage in airplane flaps. The ball screw is also used in other operations such as aircraft passenger boarding bridge, PAXWAY, at airports, in control system for chemical plant piping, in control system for control rods used in nuclear power plants and a pressure tube inspection system. Aforementioned products and industries are a crucial part of today’s world the demand for ball screw is experiencing gradual upward inclination. Ball screw has a wide range of application across industrial automation as well as the use of industrial robotics. The high cost of the ball screw is likely to act as a restraint for ball screw market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of ball screw.
The broad ball screw market has been sub-grouped into sales channel, application and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Sales Channel
- Industrial Robotics
- Energy & Utilities
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for ball screw in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Ball Screw Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the ball screw market includes CAMSO, Continental AG, Global Rubber Industries, NEXEN TIRE, Setco Solid Tire & Rim Assembly, Superior Tire & Rubber Corp, Trelleborg, TY Cushion Tire, Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.