Machine Screw Jack Market Size, Share, Growth, and Industry Analysis, By Type (Worm Gear Screw Jack, Ball Screw Jack), By Application (General Industrial, Material Handling Industrial, Aerospace and Aircraft, Automotive, and Others), Regional Insights, and Forecast from 2023 to 2030

Updated On: 13 November 2023

Machine Screw Jack Market Report Overview

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Machine Screw Jack Market is expected to grow from 237 Million in 2020 to USD 305.2 Million by 2027 at a Compound Annual Growth (CAGR) of 4.3% from 2020 to 2027.

Machine screw jacks are mechanical devices used to convert rotary motion into linear motion. They consist of a threaded screw and a nut, which are used to lift and lower heavy loads efficiently. The product finds applications in various industries, including general industrial, material handling industrial, aerospace and aircraft, automotive, and others. These jacks offer precise positioning, have high load capacities, and are relatively easy to operate, making them ideal for a wide range of applications.

The market is witnessing growth due to several factors. Firstly, the increasing demand for efficient lifting and positioning solutions across industries is driving the market. Machine screw jacks offer advantages such as high load-bearing capacity, durability, and precise control, making them a preferred choice for industrial applications. Additionally, the growing trend of industrial automation is further propelling demand, as they play a vital role in various automated systems.

COVID-19 Impact: Decline in Demand Leads to Market Disruption

The COVID-19 pandemic had a significant impact on the market. The sudden disruption in global supply chains, restrictions on manufacturing activities, and reduced industrial output affected the demand for the product. Numerous end-user industries, such as automotive and aerospace, experienced a decline in production, leading to decreased demand. However, as the industrial sector recovers and resumes operations, demand is expected to rebound.

Latest Trends

"Product Innovations Leads towards Market Growth"

The market is witnessing several trends that are shaping the industry landscape. One notable trend is the advancement of technology, which has led to the development of more efficient and reliable products. Manufacturers are focusing on incorporating advanced materials and design techniques to enhance the performance and durability of these jacks.

Another trend is the introduction of new products and technologies related to machine screw jacks. Companies are launching innovative variants with improved features such as higher load capacity, increased efficiency, and enhanced safety measures. Furthermore, leading market players are actively engaged in strategic partnerships, collaborations, and mergers to expand their product portfolios and gain a competitive advantage in the market.

Machine Screw Jack Market Segmentation

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·  By Type Analysis

The market can be segmented into two types: worm gear screw jacks and ball screw jacks.

Among these, worm gear screw jacks hold the largest market share due to their wide range of applications and cost-effectiveness. Worm gear screw jacks are commonly used in various industrial processes that require heavy lifting and precise positioning.

·  By Application Analysis

Based on application, the market can be divided into general industrial, material handling industrial, aerospace and aircraft, automotive, and others.

Among these, the general industrial segment dominates the market due to the extensive use of the product in industries such as manufacturing, construction, and energy. The material-handling industrial segment is also witnessing significant growth, driven by the increasing need for efficient material-handling systems in warehouses and logistics operations.

Driving Factors

"Increasing Demand for Precise Positioning Solutions to Increase Product Demand"

One of the driving factors for the market is the growing demand for precise positioning solutions across industries. The products offer accurate and repeatable linear motion, making them an ideal choice for applications that require the precise positioning of heavy loads. Industries such as manufacturing, assembly, and packaging rely heavily on the usage of the product to ensure accurate alignment and movement of components.

Machine screw jacks provide precise control over vertical or horizontal movement, allowing for fine adjustments and positioning with high accuracy. This level of precision is crucial in various industrial processes, where precise alignment and movement are essential for efficient operations. For instance, in assembly lines, machine screw jacks are used to precisely position components during the assembly process, ensuring proper fitting and alignment.

"The rise in Industrial Automation Enhances Market Growth"

Another significant driving factor for the market is the increasing adoption of industrial automation. As industries strive to enhance productivity, efficiency, and safety, automation has emerged as a key solution. The product plays a crucial role in automated systems by providing reliable and controlled linear motion.

In automated manufacturing processes, machine screw jacks are employed in various applications. They are used in conveyor systems to adjust the height and position of conveyor belts for efficient material handling. It also facilitates the movement of robotic arms, allowing for precise positioning and operation. Automated workstations and adjustable platforms utilize it to enable height adjustments, ensuring ergonomic work conditions for employees.

Industrial automation offers several benefits, such as improved production efficiency, reduced labor costs, enhanced product quality, and increased workplace safety. As industries across sectors, including automotive, aerospace, and material handling, embrace automation, demand is expected to witness significant growth.

Restraining Factors

"Challenges in Heavy Load Handling and Maintenance Hinders Market Growth"

One of the key restraining factors for the market is its limitations in handling extremely heavy loads. While the products offer high load-bearing capacity, there are practical limits to the weight they can handle. For applications that require lifting exceptionally heavy loads, alternative solutions such as hydraulic or pneumatic systems may be more suitable.

Machine Screw Jack Market Regional Insights

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"Asia Pacific Leads Due to Expansion in Industrial Sector"

Asia Pacific is the leading region in the market. The region has a significant presence in manufacturing industries, particularly in countries like China, India, and Japan. The expanding industrial sector and growing investments in infrastructure development are driving demand in the Asia Pacific. Furthermore, the increasing adoption of automation technologies in various industries is boosting market growth in the region.

North America holds the second-largest market share in the world. The presence of prominent manufacturing and aerospace industries in the region contributes to the demand. Moreover, the focus on improving operational efficiency and reducing manual labor in industrial processes is propelling market growth in North America.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

· Columbus McKinnon (U.S.)

· ZIMM (Germany)

· Joyce Dayton (U.S.)

· Power Jacks (U.K.)

· Nook Industries (U.S.)

· Nippon Gear (Japan)

· Unimec (Italy)

· INKOMA-GROUP (Germany)

· Chiaravalli Group (Italy)

· Altra Industrial Motion (U.S.)

· Servomech (Italy)

· TSUBAKIMOTO (Japan)

· Lim-Tec (South Korea)

· Nosen (China)

· WMH Herion Antriebstechnik (Germany)

· MecVel (Italy)

· Makishinko (Japan)

· Nuodun (China)

· Kelston Actuation (U.K.)

· Nozag AG (Switzerland)

· Redsun (China)

· Weingrill Ing (Austria)

· SIJIE (China)

· Wanxin (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.