Precision Ball Screw Market Research, 2032
The Global Precision Ball Screw Market Size was valued at $1.7 billion in 2020, and is projected to reach $3.2 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032. Precision ball screw is a mechanical element, which converts rotary motion into linear motion. It produces high mechanical efficiency in the transmission of motion as it works on rolling friction, which makes it a preferred option for industrial applications such as robotics, material handling, and general-purpose machines.
Report Key Highlighters
• The precision ball screw market studies more than 16 countries. The analysis includes a country-by-country breakdown analysis in terms of value ($million) available from 2022 to 2032.
• The research combined high-quality data, professional opinion and research, with significant independent opinion. The research methodology aims to provide a balanced view of the global market, and help stakeholders make educated decisions to achieve ambitious growth objectives.
• The research reviewed more than 3,700 product catalogs, annual reports, industry descriptions, and other comparable resources from leading industry players to gain a better understanding of the market.
• The market share is marginally fragmented, with players such as Barnes Industries Inc., Bosch Rexroth, HIWIN Corporation, Koyo Machinery, Kuroda Precision Industries, Nidec Corporation, PMI Group, Schaeffler AG, SKF, and THK Co. Ltd,. Major strategies such as product Launch, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.
Market Dynamics
Demand for precision ball screws is on the rise in semiconductor, aviation & aerospace, and medical diagnostic equipment industries, owing to their high load bearing capacity, less friction, precision, and high positional accuracy; the paramount necessity of the above mentioned industries. In recent years, the growth of the semiconductor industry has been immense owing to the growing popularity of AI, IoT, Industry 4.0, and others. Hence, growth in semiconductor, aviation & aerospace, and medical diagnostic equipment industries is expected to drive precision ball screw market growth during forecast period. developing nations such as India are witnessing an increase in investments in semiconductors manufacturing industries. For instance, in June 2022, the Indian government announced that it will spend $30 billion to restructure its IT industry and build up a semiconductor supply chain.
According to Gourangalal Das, director-general of the India-Taipei Association, the South Asian country's de-facto embassy in Taipei, the investment initiative is aimed to boost local production of semiconductors, displays, advanced chemicals, networking and telecom equipment, as well as batteries and electronics. All such factors are fueling the growth of semiconductor manufacturing; thereby, positively influencing the semiconductor production equipment market, eventually having a positive impact on the precision ball screw market.
Moreover, the medical industry is surging rapidly, for example, according to the Indian Brand Equity Foundation, the medical device industry is expected to grow to a value of $50 billion by 2030. A similar trend can be seen in other rapidly growing parts of the world. The surge in medical diagnostics industry is expected to accelerate the precision ball screw market. These medical diagnostics equipment need precisely controlled movements for efficient operations, which is achieved by drive train that consist of precision ball screws. In addition, precision ball screws also find their applications in high-tech medical equipment such as dental milling machines, surgical robots, and robotic endoscopy equipment. This makes precision ball screws a critical component in the healthcare industry.
However, fluctuation in prices of raw materials used for manufacturing precision ball screws is anticipated to restrain the market growth. Precision ball screws are generally made up of carbon steel, alloy steel, and stainless steel. Price of steel often fluctuates, owing to different government taxes and demand and supply. In addition, fluctuations in foreign currencies affect price of steel, which impacts the profit margin of suppliers. For instance, in February 2020, ministry of steel of Indian government released a report, as per the report in February 2020, steel exports of India declined by 17.8% as compared to January 2020, owing to hike in domestic prices. In the early 2023 also, the price of steel fluctuated immensely. These kinds of scenarios are expected to restrain growth of the precision ball screw market during the forecast period. In addition, trade tariffs also hinder the market growth.
Moreover, technological advancements and innovations in precision ball screw industry is a major precision ball screw market opportunity for growth of the marjor players in the precision ball screw market. International Organization for Standardization (ISO) and Deutsches Institut für Normung (DIN) have imposed accuracy standards for precision ball screws for positional and transport applications. Lead accuracy is of utmost importance in the medical field. This has created opportunities for players in the market to develop precision ball screws of high lead accuracy.
For instance, MPS Microsystems based in Germany offers a range of high precision ball screws for positioning less than 5 µm. In addition, technological advancements such as industrial robots, 3D printing, and factory automation also create opportunity for innovations in precision ball screw products, which is anticipated to accelerate growth of the precision ball screw market during the forecast period.
The precision ball screw market has witnessed various obstructions in its regular operations due to the COVID-19 pandemic and inflation. Earlier, the global lockdowns resulted in reduced construction activities, eventually leading to reduced demand for precision ball screw from manufacturing sector. However, COVID-19 has subsided, and the major manufacturers performed well in 2023. Contrarily, the rise in global inflation is a new major obstructing factor for the entire industry. The inflation, which is an immediate result of the Ukraine-Russia war, and a few long-term effects of the COVID-19 pandemic, have delivered volatility in the expenses incurred on raw materials used for the production of precision ball screws.
In addition, the price of oil and gas has increased extensively, and many countries, mainly, the nations in Europe, Latin America, and developing economies in Asia-Pacific have experienced intense negative effects on the manufacturing industry. However, India and China are performing relatively well. In addition, inflation is anticipated to worsen within the coming years, as the possibility of the ending of the conflict between Ukraine and Russia is much less. However, a peace agreement between Ukraine and Russia may be devised, with continued talks among the nations.
Segmental Overview
The precision ball screw market analysis is segmented on the basis of product type, sales channel, application, and region. By product type, the market is bifurcated into ground and rolled. On the basis of sales channel, it is categorized as offline, and online. As per the application, the market is divided into semiconductor, laboratory, medical, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
By Type,
The precision ball screw market is divided into ground and rolled. In 2020, the ground precision ball screws segment dominated the market, in terms of revenue. In addition, the same segment is expected to grow with a higher CAGR during the forecast period. Ground precision ball screws are increasingly being adopted in aerospace, advanced medical equipment, and robotic surgeries, owing to its high precision and high positional accuracy. Growth in aerospace and diagnosis equipment industries is expected to push the demand for ground precision ball screw during the forecast period.
By Sales Channel,
The market is bifurcated into offline and online. Out of these, the offline segment held a higher market share in terms of revenue in 2020. The high share of this segment is attributed to various advantages associated with offline purchase, including lower lead time, and ability to negotiate on prices. However, the offline segment is expected to grow with a higher CAGR during the forecast period. Online stores have a large variety and a large inventory.
By Application,
The precision ball screw market is categorized into semiconductor, laboratory, medical, and others. In 2020, the semiconductor segment dominated the market, in terms of revenue, and the same segment is expected to grow with a higher CAGR during the forecast period. Growth of the semiconductor industry is anticipated to accelerate growth of the market during the forecast period. For instance, in April 2023, Bosch, a German engineering firm, planned to acquire U.S. chipmaker TSI Semiconductors to expand its semiconductor business with silicon carbide chips (SiC). Such factors are anticipated to accelerate the growth of the during the forecast period.
By Region,
The precision ball screw market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific accounted for the highest market share in 2020 and the same region is expected to grow with the highest CAGR during the forecast period. Machinery and equipment used in semiconductor and aerospace industries make use of precision ball screws for the conversion of rotary motion to linear motion. Moreover, countries in Asia-Pacific such as India, China, Vietnam, and Indonesia are witnessing growth in industrialization, which, in turn, drives market growth. For example, the government of China released a plan “Made in China 2025”, according to which, the government has set a goal to reach $ 305 billion by 2030, in terms of semiconductor industry output.
Competition Analysis
Competitive analysis and profiles of the major players in the precision ball screw market, such as Barnes Industries Inc., Bosch Rexroth, HIWIN Corporation, Koyo Machinery, Kuroda Precision Industries, Nidec Corporation, PMI Group, Schaeffler AG, SKF, and THK Co. Ltd., are provided in the report. Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of the market.
Recent Development in the Precision ball screw Market
- In May 2021, Ewellix, formerly SKF Motion Technologies, has launched a new smooth running, high precision large ball screw range for automation and high duty applications that will extend machine reliability and increase service life, while achieving 25% higher speed limits and low noise levels.
Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging precision ball screw market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
- Extensive analysis of the precision ball screw market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The precision ball screw market forecast analysis from 2023 to 2032 is included in the report.
- The key market players within Precision ball screw market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the precision ball screw industry.
Precision Ball Screw Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 3.2 billion |
 Growth Rate | CAGR of 5.5% |
 Forecast period | 2020 - 2032 |
 Report Pages | 189 |
 By Type |
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 By Sales Channel |
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 By Application |
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 By Region |
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 Key Market Players | SKF, HIWIN Corporation, NIDEC CORPORATION, Barnes Industries Inc., Schaeffler AG, Bosch Rexroth AG, The PMI Group, Inc., THK Co. Ltd., kuroda precision industries ltd., Koyo Machinery |
Analyst Review
The global precision ball screw market is expected to grow at a significant rate in the near future, owing to growth in semiconductor manufacturing sector globally. The rise in investments in semiconductor, aerospace, and healthcare device industries by governments and private institutions around the globe has led to increase in demand for modern machinery, which are efficient and cost effective in operations. This is expected to push growth of precision ball screw market during the forecast period. The global precision ball screw market has witnessed considerable growth in emerging markets such as China, Latin America, and India, owing to rapid industrialization and growth in industries such as semiconductors, aviation & aerospace, and healthcare. Technological advancements such as surgical robotic and industrial automation has led to surge in manufacturing activities in many countries across the globe. Manufacturers of precision ball screws are taking continuous efforts to improve their product offerings to cater to ever changing and dynamic requirements of end users. Players operating in the market have adopted product launch as their key growth strategies to gain a stronger foothold. Thus, all these factors together are anticipated to significantly contribute toward growth of the global precision ball screw market.
Demand for precision ball screws is on the rise in semiconductor, aviation & aerospace, and medical diagnostic equipment industries, owing to their high load bearing capacity, less friction, precision, and high positional accuracy; the paramount necessity of the above mentioned industries.
The latest version of the Precision ball screw market report can be obtained on demand from the website.
The Precision ball screw market size was valued at $1.6 billion in 2020.
The Precision ball screw market size is estimated to reach $3.2 billion by 2032, exhibiting a CAGR of 5.5% from 2023 to 2032.
The forecast period considered for the precision ball screw market is 2023 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2032 is the forecast year. The market is also analyzed historically between 2020 and 2021.
Semiconductor manufacturing equipment segment is the largest market for Precision ball screw market.
Key companies profiled in the Precision ball screw market report include Barnes Industries Inc., Bosch Rexroth, HIWIN Corporation, Koyo Machinery, Kuroda Precision Industries, Nidec Corporation, PMI Group, Schaeffler AG, SKF, and THK Co. Ltd,.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.
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