The ball screw is an important transmission element for converting rotary motion into linear motion. The basic components of a ball screw include – shafts, nuts and the balls in the threads between them. The latest Ball Screw Market designed from a variety of sources, including Porter’s five force analysis research techniques to detect new market openings for the period 2021-2027. The study inquires and examines the knowledge base on the latest trends in order to accept the stock, market size, growth trajectory, and therefore the potential value of the market.
The global ball screw market was valued at USD 17,030.8 MN (by revenue) in 2017 and is projected to reach USD 28,276.7 MN by 2024 with a CAGR of 7.5%.
The broad ball screw market has been sub-grouped into sales channel, application, and end-user. The report studies these subsets in relation to geographic division. Strategists can gain detailed insights and devise suitable strategies to target the specific market. This detail will lead to a focused approach to identify better opportunities. In addition, the report includes geographic segmentation that focuses on current and forecast demand for ball screws primarily in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report further focuses on the demand for different application segments across sectors.
Ball screws are widely used in airplane flaps. Ball screws are also used in other functions such as aircraft passenger boarding bridges, PAXWAY, at airports, in control systems for chemical plant piping, in control systems for control rods used in nuclear power plants and as a Pressure tube inspection system. The aforementioned products and industries are an important part of today’s world, the demand for ball screws is gradually experiencing an upward trend. Ball screws have a wide range of uses in industrial automation as well as industrial robotics. The high cost of ball screw is likely to act as a restraint for the ball screw market.
Major players in the ball screw market include Bosch Rexroth AG, Hiwin Technologies Corp., Kuroda Precision Industries Ltd., NSK Ltd., Schaeffler Technologies AG & Co. KG, Svenska Kulagerfabriken AB, TBI Motion Technology Co. Ltd. and THK Company. Ltd.
Source: https://www.valuemarketresearch.com/report/ball-screw-market
Nishtha Sarabhai after working for three years in a Bank switched to writing to balance her work and home. She is a mother of two beautiful kids. She enjoys writing on Aerospace, Science and new invcentions. She has been with VMR news since its inception.