Precision Ball Screw Market Exploring the Growth At a CAGR of 5.5% by 2032 | Players Barnes, Bosch Rexroth, HIWIN

Prime Determinants of Growth

According to the report, the global precision ball screw industry generated $1.6 billion in 2020, and is anticipated to generate $3.2 billion by 2032, witnessing a CAGR of 5.5% from 2023 to 2032.

Development of the semiconductor industry, growth in the aviation and aerospace industry, and surge in the medical diagnostics industry drive the growth of the global precision ball screw market. However, the fluctuating cost of raw materials restricts the market growth. Moreover, technological advancements & innovations in precision ball screw represent new opportunities in the coming years.

Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/3245

The ground segment to maintain its leadership status throughout the forecast period

Based on type, the ground segment held the highest market share in 2020, accounting for more than two-thirds of the global precision ball screw market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 5.6% from 2023 to 2032. Ground precision ball screws are increasingly being adopted in aerospace, advanced medical equipment, and robotic surgeries, owing to their 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.

The offline segment to maintain its leadership status throughout the forecast period

Based on sales channel, the offline segment held the highest market share in 2020, accounting for nearly nine-tenths of the global precision ball screw market, and is estimated to maintain its leadership status throughout the forecast period. 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 online segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032. Online stores have a large variety and a large inventory.

The semiconductor manufacturing equipment segment to maintain its lead position during the forecast period

Based on application, the semiconductor manufacturing equipment segment accounted for the largest share in 2020, contributing to nearly one-third of the global precision ball screw market revenue, and is projected to maintain its lead position during the forecast period. The same segment is expected to portray the largest CAGR of 6.2% from 2023 to 2032. Precision ball screw is used for linear motion in semiconductor equipment such as printed circuit board (PCB) and integrated circuits (IC) manufacturing machines, circuit board plotters, PCB milling machines, dicing machines, panel prober table units, glass substrate conveyor equipment, and glass edge polishing units. Thus, growth of the semiconductor industry is anticipated to accelerate growth of the precision ball screw market during the forecast period.

Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/3245

Top Players:

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.

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Contact us:

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com