Scope of the Report
This report provides an in-depth analysis of the global Ball Bearing Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the Rest of the World. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global ball bearing market by type, application, and region.
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Market Highlights
Global Ball Bearing Market Size is projected to be valued approximately at USD 25 Billion by 2025, with 4% CAGR during the forecast period, 2020–2025.
Ball bearings are a rolling-element bearing that uses balls to maintain the separation between the bearing races. These are mainly used to reduce the friction between moving rotary parts and to support rotating parts to obtain desired motion. Ball bearings are used in various industry verticals such as automotive, aerospace, railway, and heavy machinery. Developing infrastructure of wind turbines from emerging markets such as China Brazil, Mexico, and India, increasing demand for high-performance bearings for agriculture equipment, and the rise in industrialization globally are the key factors driving the growth of the market.
Based on region, the Ball Bearing Market Share is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2019, the global market was led by the Asia-Pacific, followed by Europe and North America. Among all the regions, Asia-Pacific is expected to hold the largest share and is projected to register the highest growth rate over the forecast period. This growth is attributed to the enhancements in the infrastructure of electric vehicles and the growing number of windmill farms in emerging markets such as China and India. China is one of the major markets, and the sales in the country are expected to catapult over the foreseeable years stimulated by the rapid expansion of machinery and motor vehicle production coupled with a strong aftermarket for industrial equipment and motor vehicle repair.
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Moreover, the robust construction and mining equipment industry in India is estimated to facilitate growth through 2025. Europe is anticipated to witness favorable growth during the forecast period, owing to sustainable economic growth and increased investment. Furthermore, in the mature markets of the US, Western Europe, and Japan, the demand is driven by the rebounding productions of motor vehicles and a healthy fixed investment environment. Increased sales of high-value bearings, such as large-diameter, custom-built bearings used in heavy machinery and wind turbines are also expected to drive the growth in North America. In the Middle East and Africa, the rapid development of city infrastructures is positively influencing the overall growth.
The global Ball Bearing Market Growth has been segmented based on type and application. Based on type, the global market is divided into deep-groove ball bearings, angular contact ball bearings, self-aligning ball bearings, thrust ball bearings, and others. The self-aligning bearing product segment is expected to grow significantly in the coming years. This is attributed to the increasing demand from the applications including machine tools such as paper and textile processing machinery. Based on application, the global ball bearing market is segmented into automotive, electronics, aerospace defense, construction, and others. The automotive segment has accounted for a significant share in the global ball bearing market over the assessment period owing to the growing sales of passenger cars and commercial vehicles in the developed and developing regions.
Global Ball Bearing Market is expected to grow at 4% CAGR during the forecast period.
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Key Players
The key players operating in the global Ball Bearing Market are NTN Corporation, Nachi-Fujikoshi Corp, Schaeffer Group, NSK Ltd., The Timken Company, Myonic GmbH, LYC Bearing Corporation, The Danaher Corporation, GKN Plc, SKF, THB Bearing, Luoyang Huigong Bearing Technology Co., Ltd., among others.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Capacity Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
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Global Ball Bearing Market was valued at US$ 9.7 Bn in 2019 and is expected to reach US$ 17.2 Bn by 2026, at a CAGR of 6.57% during a forecast period.The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors.
The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
To know about the Research Methodology:- Request Free Sample ReportGlobal Ball Bearing Market DynamicsBearings are used for reducing energy loss caused by friction in moving parts of machinery and to improve the efficiency and speed of the equipment.
Major driving factors of the market are the rise in construction activities, growth in the manufacturing sector, huge demand for energy, growing economy in developing countries, the growing standard of living, and rising disposable income of consumers are some factors that are rising investments in industries and successively increase the demand for ball bearings during the forecast period.
The innovation in technology and design of ball bearings are emerging trends of the ball bearing market.
The rising use of ball-bearings in EVs is also fueling the market as EVs are increasing across the globe.Global Ball Bearing Market Segment AnalysisOn the basis of type, deep groove ball bearings are expected to hold the largest share of the market as they are particularly versatile.
