Precision Ball Screw Market Worth $2,043.9 Million by 2027 | Barnes Industries Inc., Bosch Rexroth, Hiwin Corporation, Koyo Machinery, Kuroda Precision Industries

The precision ball screw market has witnessed significant growth over the past decade, owing to rapid industrialization in developing countries, increase in spending on medical devices and equipment, and investments in semiconductor and aerospace industries. A number of players are expanding their business to strengthen their foothold in the global market.

According to a new report published by Allied Market Research, titled, “Precision Ball Screw Market by Type and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global precision ball screw market size was valued at $1,571.0 million in 2019, and is projected to reach $2,043.9 million by 2027, registering a CAGR of 5.1% from 2020 to 2027.

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Demand for precision ball screws is on the rise in semiconductor, aviation & aerospace, and medical diagnostic equipment industries, owing to its high load bearing capacity, less friction, precision, and high positional accuracy. Hence, growth in semiconductor, aviation & aerospace, and medical diagnostic equipment industries is expected to drive growth of the precision ball screw market during forecast period.

However, fluctuations in prices of steel and increase in trade wars among countries restrain the market growth. The COVID-19 pandemic has enforced many companies in the global market to halt their business operations to comply with new government regulations to curb the spread of COVID-19. This halt in operations directly impacts revenue flow of the precision ball screw market supply chain. In addition, implementation of lockdown and need to maintain social distancing during this pandemic has resulted in dearth of manpower, which, in turn, has negatively impacted the precision ball screw market revenue.

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Key Players

The key players 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.

Key Market Segments

By Type

Ground Precision Ball Screw
Rolled Precision Ball Screw

By Application

Semiconductor
Medical
Laboratory
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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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.