A new analysis report on the market of “precision ball screw” which is forecasted between 2021 and 2028 has been published by Knowledge Sourcing Intelligence.
The prime factors propelling the market growth of the precision ball screw market are technological advancements, rising demand for automation resulting in enhanced semiconductors, and the growing use of electric vehicles.
As per the report, the precision ball screw market is expected to grow at a CAGR of 5.67% during the forecast period.
A critical mechanical element used in several sectors and applications is the focus of the precision ball screw market. Precision ball screws are an essential component in many sectors since they are made to transform rotational motion into precise linear motion. Moreover, precision ball screws are vital elements in the automation landscape because they enable automated machines and robots to achieve precise linear motion control.
Various collaboration and technological advancements happening in the market are driving the precision ball screw market growth. For instance, Miniature Metric Precision Ball Screw Assemblies were added to the portfolio of PBC Linear in July 2022. These small nut and precision-rolled screw assemblies provide great performance in low-cost packaging. The high-precision ball screws offer accurate and efficient linear motion, making them perfect for use in robotics, semiconductors, medical equipment, and laboratory equipment. PBC Linear provides more design options, quicker lead times, and diameters of 6 mm, 8 mm, and 10 mm. The assemblies provide options for preload and end configurations and fulfill ISO accuracy criteria.
The market for precision ball screws is divided into ground precision ball screw and rolled precision ball screw categories depending on the type. Ball screws with precision ground are fast and quiet and it is widely utilized, including in light-load machine tools and transportation equipment. Instead of the thread-ground shaft found in precision ball screws, rolled precision ball screws use a screw shaft that has been carefully surface-ground while being rolled with excellent accuracy.
The market is segmented into semiconductor, medical, laboratory, and others based on application. The application of precision ball screws in semiconductors is rising due to the rising automation and efficiency in extremely heavy load conditions. The rising semiconductor industry contributes significantly to the precision ball screw market for semiconductors. For instance, the semiconductor industry sold 1.15 trillion semiconductor units in 2021 by increasing production to meet the global shortage as per the Semiconductor Industry Association.
North America is expected to hold a significant market during the forecasted period based on geographical segmentation. The main factors for North America dominating the precision ball screw market can be attributed to the adoption of design automation tools such as processors and design circuit boards. Additionally, the US’s robust semiconductor industry is a major driver of precision ball screw market. For instance, sales of semiconductors in January 2022 increased by 26.8% as compared to January 2021 as per the Semiconductor Industry Association, US.
The research includes coverage of Barnes Industries, Hiwin Corporation, Koyo Machinery, Kuroda Precision Industries Ltd, Nidec Corporation, PMI Group, Robert Bosch GmbH, Schaeffler AG, SKF Group, and THK Co. Ltd. as a significant market player in the precision ball screw market.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/precision-ball-screw-market
This analytics report segments the precision ball screw market on the following basis:
- By Type
- Ground Precision Ball Screw
- Rolled Precision Ball Screw
- By Application
- By Geography
- North America
- South America
- United Kingdom
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America