The value of the worldwide ball screw market was approximately USD 23.05 billion in 2022 and is anticipated to increase to approximately USD 40.57 billion by 2030, with a CAGR of roughly 7.32% between 2023 and 2030. The global ball screw market’s drivers, restraints, and challenges are examined in the study along with the impact they will have on demand over the forecast period. The paper also looks at new potential in the ball screw sector.
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Overview of the ball screw industry
A mechanical tool called a ball screw is used to transform rotary motion into linear motion. It is constructed of a threaded rod, also known as a screw, and a nut formed of a number of numerous ball bearings that rotate in tandem with the screw thread. The balls move in a helical pattern as the screw rotates, which allows the nut to travel along the screw’s length and produce a linear motion. The design, production, and sale of extremely important mechanical items, as well as the sale of related goods and services, are all handled by the ball screw industry. Along with ball screws, other goods like ball screw assemblies, support bearings, and lubricants are also offered for sale. They are utilised in a variety of fields, including as robotics, computer numerical control (CNC) machinery, medical equipment, aerospace technology, and auto manufacturing. The industry could expand steadily during the course of the projection period.
• The global ball screw market is predicted to expand annually at a CAGR of roughly 7.32% over the forecast period (2023-2030), according to the analysis supplied by our research researcher.
• The global ball screw market was estimated to be worth roughly USD 23.05 billion in 2022, and it is anticipated to grow to USD 40.57 billion by 2030.
• Due to the rising demand for automation, it is anticipated that the ball screw market will expand significantly.
Increasing demand for automation will drive market expansion
Due to the rising demand for automation in sectors like manufacturing, aerospace, and the automotive industries, to name a few, the global ball screw market is anticipated to expand. The prevalence of automated technology is due to a number of causes. These systems, for instance, are known to be more productive since automated activities are capable of doing repetitive jobs accurately. Additionally, as automation can significantly lower labour costs, it is known to have an impact on overall operational costs. Automation technology makes it easier to control quality because organisations can easily spot mistakes and handle them before investing more resources.
High maintenance costs are limiting market expansion
Because ball screws require complicated maintenance, the global market for ball screws is anticipated to experience growth constraints. Ball screws, for example, require regular lubrication and cleaning in order to maintain both the mechanical device’s longevity and the systems’ function. Users must frequently inspect the equipment to prevent any serious malfunction or mishap. Ball screw use becomes more difficult and expensive as a result of this.
Industrial robot usage is growing, creating fantastic growth potential.
With the increasing use of industrial robots likely to have an impact on the demand for high-precision ball screws, the global ball screw industry is at a pivotal point in its revolution. The motion control of industrial robots is still unmatched, and with increased funding going towards the creation of more effective robots and artificial beings in bigger numbers, market participants can anticipate higher income throughout the projection period. Additionally, the industry may benefit from the increasing use of electric actuators in some of the fastest-growing industries.
Alternative technologies’ increasing level of competition will hinder market expansion.
The growing competition from other technologies that may deliver the same effects at a substantially lower cost presents difficulties for the ball screw sector. Linear motors, belt drives, and rack and pinion systems are a few examples of alternatives that may be found on the market and are recognised to function as well as or better than ball screws. Additionally, employing ball screws might be expensive, particularly when the requirement is specialised or customised.
The Global Ball Screw Market is segmented based on product, application and region.
Global Ball Screw Market: Product Segment Analysis
Global Ball Screw Market: Application Segment Analysis
● Industrial Robotics
• A new technology that significantly lengthens the life of ball screws used in high-load drive applications was developed, according to NSK Ltd., a leading manufacturer of bearings in the world, and it was unveiled in June 2022. Due to a greater trend towards electric designs among manufacturers of industrial gear, the new technology is anticipated to generate more money. NSK has strengthened its commitment to enhancing productivity in the industrial machinery sector with this action.
• Manufacturer of high-performance ball screws SHUTON released a new product and presentation catalogue in June 2020 that included information on recent advancements in the market for ball screws, which is very well-liked. The redesigned catalogue offers thorough information on product technologies in addition to greater insights into the company’s history and core principles.
The global ball screw market is led by players like:
● THK Co. Ltd.
● NSK Ltd.
● HIWIN Corporation
● Bosch Rexroth AG
● Kuroda Precision Industries Ltd.
● NTN Corporation
● PMI Group
● Nook Industries Inc.
● TBI MOTION Technology Co. Ltd.
● Steinmeyer Mechatronik GmbH
● Schaeffler Technologies AG & Co. KG
● Parker Hannifin Corporation
● The Timken Company
● Lintech Motion
● Helix Linear Technologies
● AB SKF
● SKF Motion Technologies
● Isel Germany AG
Asia-Pacific will experience the fastest growth
Asia-Pacific is expected to experience the highest growth in the global ball screw market, primarily because of the region’s already established, highly developed industrial facilities and the increasing efforts made by local governments to ensure that Asia continues to rule the world in terms of the heavy industry sector. Some of the top nations are Singapore, China, India, Japan, and others.
The expansion in North America can be fueled by the existence of well-established sectors like healthcare, aerospace, and the auto industry. Additionally, the region is experiencing a surge in the demand for precision equipment, which could result in a greater uptake of ball screws. The market also depends heavily on the expanding research and development of industrial robots.
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