The latest market report published by Credence Research, Inc. “Global Ball Screw Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global Ball Screw Market generated revenue of around USD 19364 million in 2022 and is anticipated to grow a CAGR of over 7.80% during the forecast period from 2023 to 2030 to reach around USD 32758.68 million in 2030.

Ball screws are mechanical devices that are used in various industrial verticals. Ball screws are used for various medical devices, and as the demand for various medical devices is growing, it is expected to aid the market growth. Increasing demand for ball bearing for manufacturing industrial robots is also driving the market growth. The government's technological advancements and rising initiatives for the development of the aviation sector are expected to propel the market growth during the forecast period.

The global Ball Screw market is bifurcated into Type, Application, Sales Channel, and Geography. Based on type, the market is categorized into rolled and ground. Based on application, the global market is segmented into pipelines, PAXWAY, industrial robotics, and others. Based on sales channel, it is bifurcated into OEM and aftermarket. Based on end-use, the market is fragmented into aviation & aerospace, energy & utilities, fabrication, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

In 2021, Asia Pacific dominated the global ball screw market and accounted for a major market revenue share in terms of value. Increasing manufacturing units as the demand for various products is growing and demand for ball screws is rising due to their advantages in various industrial verticals. The presence of various local manufacturers of ball screws and lower labor costs are among the other factors fueling the market growth in this region.

There are plenty of opportunities in the ball screw market for companies that are able to provide innovative and high-quality products. The demand for ball screws is increasing as more industries adopt them for use in a variety of applications. This provides an excellent opportunity for businesses to expand their operations and increase their market share.

The benefits of ball screws over traditional lead screws are well-known, and this is driving the increased demand. Ball screws offer superior precision and higher efficiency, which leads to reduced costs for manufacturers. In addition, ball screws are less likely to experience wear and tear, meaning they have a longer lifespan. This makes them an attractive option for companies looking to reduce their maintenance costs.

Why to Buy This Report-

The report provides a qualitative and quantitative analysis of the global ball screw market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.

The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level.

In-depth global ball screw market segmentation analysis based on type, application, sales channel, and sales channel.

The global ball screw market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.

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