The ball screw market is a growing market owing to its large scale use in the airplane flaps, aircraft passenger boarding bridge, at airports, PAXWAY and others.
Sarasota, FL -- (SBWIRE) -- 05/26/2017 -- Zion Market Research, the market research group announced the analysis report titled "Ball Screw Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Ball Screw Market: Overview
A ball screw is basically a structure having a cylindrical head, pointed tip at the end and ridges winding around it. It can be made from various materials. One of its important purposes is that it can convert linear motion into rotator motion. It has a nut made by ball bearing which helps in the rotatory motion. It is mainly used for various industrial requirements. With the large scale industrialization and rise in the complex machinery, demand for ball screws has gained a momentum.
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Global Ball Screw Market: Segmentation
The global ball screw market is segmented into its application, sales channel, end-user, and geography. On the basis of application, the market is divided into pipelines, industrial robotics, and PAXWAY. Based on sales channel, the market is segregated into aftermarket and OEM. On the basis of end-user, the market is fragmented into aviation, fabrication, and energy and utilities. Diversification of the market based on regions is seen into North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa.
Global Ball Screw Market: Growth Factors
The ball screw market is a growing market owing to its large scale use in the airplane flaps, aircraft passenger boarding bridge, at airports, PAXWAY, in control system for control rods, in control system for chemical plant piping, pressure tube inspection system, and in other cutting edge technology products. As these products and industries are a crucial part of today's world, demand in the ball screw is witnessing a gradual upward inclination. Use of the ball screw can be also seen in the use of industrial robotics and implementation of industrial automation. This will further enhance the demand for ball screw in the market. Though there are limited substitutes available, high prices for the ball screws may act as a barrier to the growth of this market in the developing countries.
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Global Ball Screw Market: Regional Analysis
The largest share in the ball screw market is held by Asia Pacific. This can be attributed to factors such as strong growth in establishment of industries and other various operations. Countries in the Asia-Pacific region are showing major growth which includes China, Japan, India, Australia, and New Zealand. Following Asia Pacific in its growth is North America. This growth is chiefly seen in countries such as the US and Canada. European market is growing at a fast pace owing to the rapid industrial developments in this region especially in countries such as Italy, Germany, Spain, the U.K, Russia, France, and Poland. A significant share in the market growth is also put in by regions such as Latin America and the Middle East and Africa due to the developments in the oil and gas industries.
Global Ball Screw Market: Competitive Players
Some of the major companies that are involved in the ball screw market include THK, NSK, SKF, HIWIN, TBI Motion, Bosch Rexroth, Kuroda, and Schaeffle.
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Global Ball Screw Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa