Development of the semiconductor and medical diagnostics industry and growth in the aviation and aerospace sector drive the global precision ball screw market.
PORTLAND, Ore., Nov. 9, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Precision Ball Screw Market by Type (Ground Precision Ball Screw and Rolled Precision Ball Screws) and Application (Semiconductor, Medical, Laboratory, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global precision ball screw industry was estimated at $1.57 billion in 2019, and is anticipated to hit $2.04 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
Drivers, restraints, and opportunities-
Development of the semiconductor and medical diagnostics industry and growth in the aviation and aerospace sector drive the global precision ball screw market. On the other hand, fluctuations in foreign currencies influenced profit margins and increase in trade wars among countries impede the growth to some extent. However, high-end technological advancements & innovations in precision ball screws are expected to create multiple opportunities for the key players in the industry.
- The outbreak of the pandemic brought along a lot of restrictions on the manufacturing units all over the world. Accordingly, there was a significant decline in the use of robotics and general-purpose machines in the first quarter of 2020. This factor impacted the global precision ball screw market negatively.
- However, the market is expected to ameliorate, in terms of revenue, by the last quarter of the year.
Download Report Sample (190 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/3245
The ground precision ball screw segment to maintain the lion's share-
Based on type, the ground precision ball screw segment accounted for more than two-thirds of the global precision ball screw market share in 2019 and is anticipated to lead the trail by the end of 2027. The same segment is also projected to grow at the fastest CAGR of 5.6% throughout the forecast period. This is attributed to the fact that 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.
The semiconductor segment to rule the roost-
Based on application, the semiconductor segment contributed to nearly one-third of the global precision ball screw market revenue in 2019 and is expected to retain its dominance during the study period. The same segment would also portray the highest CAGR of 6.4% from 2020 to 2027. Features such as positional accuracy, reliability, and high precision have escalated the use of precision ball screws in the semiconductor industry. This factor has propelled the segment growth.
Get detailed COVID-19 impact analysis on the Precision Ball Screw Market: https://www.alliedmarketresearch.com/request-for-customization/3245?reqfor=covid
Asia-Pacific, followed by Europe and North America, garnered the major share in 2019 –
Based on region, Asia-Pacific, followed by Europe and North America, held the major share in 2019, generating nearly half of the global precision ball screw market, due to rapid industrialization in the province. LAMEA, on the other hand, would manifest the fastest CAGR of 6.5% till 2027. This is because the region is witnessing huge growth in foreign trade.
Key players in the industry-
- Bosch Rexroth
- Schaeffler AG
- Hiwin Corporation
- THK Co. Ltd.
- Kuroda Precision Industries
- Koyo Machinery
- Nidec Corporation
- PMI Group
- Barnes Industries Inc.
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/precision-ball-screw-market/purchase-options
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements
Avenue Library Subscription | Request for 14 days free trial of before buying:
Similar Reports We Have:
Industrial Robotics Market: Global Industrial Robotics Market is projected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.
Service Robotics Market : Global Service Robotics Market size is expected to garner $34.7 billion by 2022, registering a CAGR of 23.9% from 2015 to 2022.
Robotic Welding Market: Global Robotic Welding Market is projected to reach $10,784.4 million by 2026, growing at a CAGR of 8.7% from 2019 to 2026.
Automated Material Handling Equipment Market: Automated Material Handling Equipment Market is expected to reach $39,060 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022.
Hydraulic Equipment Market: Global hydraulic equipment market size is expected to reach $51,653.1 million in 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Friction Products and Materials Market: Global friction products and materials market is projected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.
Pre-Book Now with 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: LinkedIn Twitter
SOURCE Allied Market Research