Global Ball Bearing Market was valued at US$ 9.7 Bn in 2017 and is expected to reach US$ 17.2 Bn by 2026, at a CAGR of 6.57% during a forecast period.
Bearings are used for reducing energy loss caused by friction in moving parts of machinery and improve efficiency& speed of the equipment.
On the basis of type, deep groove ball bearings are expected to hold the largest share of the market as they are particularly versatile and deep groove ball bearings are the most widely used bearing type. These type of bearings are suitable for high and very high speeds, accommodate radial & axial loads in both directions, and require little maintenance these factors are boosting the market. Based on the application, the automobile industry is expected to hold the largest share of the market during the forecast period due to increased usage of ball bearing in the automotive industry. Ball bearing demand is rising as the number of automation industries is increased and automation trend is also increased among globe.
Major driving factors of the market are rise in construction activities, growth in the manufacturing sector, huge demand for energy, growing economy in developing countries, growing standard of living, and rising disposable income of consumer’s are a some factors that are rising investments in industries and successively raise the demand for ball bearings during the forecast period. Accidents case are rising in the industry to resolve this problem ball bearing demand is increasing in the industry to improve efficiency and performs is another factor for propelling market growth. The new innovation in technology and design of ball bearing are emerging trend of the ball bearing market. Ball bearing use in EV is increased is also fuelling the market as EV’s are increasing among globe.The report contains drivers and restraints of the market which are influencing the market.
Additional provides the expected opportunities of the market.
In terms of region, Asia Pacific is estimated to hold the largest share of the market during the forecast period as increasing industrialization in developing countries of this region. EV and heavy machinery usage are increased in this region. Construction activities are increased in this region is also boosting the ball bearing market in this region. China and India are expected to hold the largest share of the market in this region. China has an advanced market, increasing investments, GDP is increasing, a large number of motor vehicles market and strong income from the manufacturing industries these factors are driving the market of ball bearing in this country.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Key player’s studies, analyzed, profiled and benchmarked in Ball Bearing Market areNSK, NTN, JTEKT, Schaeffler, C&U Group, Federal Moghul Holding Corporation, JTEKT Corporation, NKE AUSTRIA GmbH, SKF AB, THK Company, TIMKEN Company, Asahi Seiko, Graham Corporation, Ingersoll Rand, LYC Bearing, MinebeaMitsumi, Nachi Fujikoshi, and RBC Bearings.
Global Ball Bearing Market Scope:
Global Ball Bearing Market, By Type:
• Deep-Groove ball bearing
• Angular-contact ball bearing
• Self-aligning ball bearing
• Thrust ball bearing
• Others
Global Ball Bearing Market, By Application:
• Food & Beverage
• Oil & Gas
• Manufacturing
• Power generation
• Medical
• Others
Global Ball Bearing Market, By Distribution Channel:
• O.E.M
• Retail Distribution
Global Ball Bearing Market, By Region:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Ball Bearing Market:
• NSK
• NTN
• JTEKT
• Schaeffler
• C&U Group
• Federal Moghul Holding Corporation
• JTEKT Corporation
• NKE AUSTRIA GmbH
• SKF AB
• THK Company
• TIMKEN Company
• Asahi Seiko
• Graham Corporation
• Ingersoll Rand
• LYC Bearing
• MinebeaMitsumi
• Nachi Fujikoshi
• RBC Bearings