Global Precision Ball Screw Market to Reach US$ 2.3 Billion by 2032, Stimulated by Increasing Product Usage in Medical Diagnostics Tools

February 23, 2023 | Chemical & Materials

IMARC Group’s latest report, titled “Precision Ball Screw Market Report by Type (Ground Precision Ball Screw, Rolled Precision Ball Screw), Application (Semiconductor, Medical, Laboratory, and Others), and Region 2024-2032,” finds that the global precision ball screw market size reached US$ 1.6 Billion in 2023. Precision ball screws refer to mechanical actuators comprising long-threaded shafts with ball bearings. They are designed to convert rotatory motion into linear motion and can withstand substantial stress and weight while providing a rolling surface. They offer high efficiency, better load-bearing capacity, less friction, and superior positioning accuracy. They are widely used in manufacturing plants, construction works, robotics, material handling, advertising companies, printing and machinery repair shops, and computer numerical control (CNC) machines. As a result, precision ball screws find extensive applications across the energy and mining, healthcare, food and beverages (F&B), automotive, retail, and aerospace industries.

Global Precision Ball Screw Market Trends:

The increasing product usage in medical diagnostics tools requiring accurately controlled movements for efficient operations represents the primary factor driving the market growth. Moreover, the growing product adoption in manufacturing high-tech medical equipment, such as dental milling machines, surgical robots, and robotic endoscopy devices, has augmented the demand for precision ball screws. In addition, there has been an increase in product use across the aviation and aerospace sectors as they assist in withstanding heavy loads and eliminating leakage, sponginess, and problems related to hydraulic and pneumatic systems in aircraft. Along with this, the surging utilization of precision ball screws in semiconductors to decrease friction and prolong the lifespan of machines has accelerated product adoption rates. Furthermore, the leading manufacturers are developing novel precision ball screws to improve machine reliability, achieve higher speed limits, and reduce vehicle noise levels, which is anticipated to expand product applications across the automotive industry. Other factors, including the significant growth in the automobile sector, rising government investments in the semiconductor industry, improving healthcare infrastructure, rapid industrialization, and product innovations, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 2.3 Billion by 2032, growing at a CAGR of 4.5% during the forecast period (2024-2032).

Market Summary:

  • Based on the type, the market has been bifurcated into ground and rolled precision ball screws.
  • On the basis of the application, the market has been classified into semiconductor, medical, laboratory, and others. 
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the market has also been analyzed, with some of the key players being Hiwin Corporation, Koyo Machinery USA Inc., KSS Co. Ltd., KURODA Precision Industries Ltd., Nidec Corporation, NSK Ltd., PMI Group (Precision Motion Industries Inc.), Robert Bosch GmbH, TBI Motion Technology Co. Ltd., THK Co. Ltd., and Tsubaki Nakashima Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Hiwin Corporation, Koyo Machinery USA Inc., KSS Co. Ltd., KURODA Precision Industries Ltd., Nidec Corporation, NSK Ltd., PMI Group (Precision Motion Industries Inc.), Robert Bosch GmbH, TBI Motion Technology Co. Ltd., THK Co. Ltd. and Tsubaki Nakashima Co. Ltd.
Customization Scope 10% Free Customization
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Global Precision Ball Screw Market to Reach US$ 2.3 Billion by 2032, Stimulated by Increasing Product Usage in Medical Diagnostics Tools
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