Precision Ball Screw Market to Reach $3.2 Billion by 2032 on Growth in Key Industries
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The global precision ball screw market generated $1.6 billion in 2020 and is expected to reach $3.2 billion by 2032, growing at a CAGR of 5.5% from 2023-2032.
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Key drivers include growth in semiconductor, aviation/aerospace, and medical diagnostics industries. Main restraint is fluctuating raw material costs.
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By type, the ground segment accounted for the largest market share in 2020 and is projected to grow at a CAGR of 5.6% through 2032.
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Offline sales channel dominated with nearly 90% market share in 2020; online projected to see fastest growth at 6.3% CAGR.
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Asia-Pacific held the largest precision ball screw market share in 2020; Middle East & Africa to see fastest growth at 7.4% CAGR from 2023-2032.