Market Highlights
Global Ball Bearing Market isprojected to be valued approximately at USD 25 Billion by 2025, with 4% CAGRduring the forecast period, 2020–2025.
Ball bearings are arolling-element bearing that uses balls to maintain the separation between thebearing races. These are mainly used to reduce the friction between movingrotary parts and to support rotating parts to obtain desired motion. Ballbearings are used in various industry verticals such as automotive, aerospace,railway, and heavy machinery. Developing infrastructure of wind turbines fromemerging markets such as China Brazil, Mexico, and India, increasing demand forhigh-performance bearings for agriculture equipment, and the rise inindustrialization globally are the key factors driving the growth of themarket.
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In 2019, Asia-Pacific dominatedthe ball bearing market in terms of share: MRFR
Based on region, the ball bearingmarket is segmented into North America, Europe, Asia-Pacific, and the Rest ofthe World. In 2019, the global market was led by the Asia-Pacific, followed byEurope and North America. Among all the regions, Asia-Pacific is expected tohold the largest share and is projected to register the highest growth rateover the forecast period. This growth is attributed to the enhancements in theinfrastructure of electric vehicles and the growing number of windmill farms inemerging 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 foreseeableyears stimulated by the rapid expansion of machinery and motor vehicleproduction coupled with a strong aftermarket for industrial equipment and motorvehicle repair. Moreover, the robust construction and mining equipment industryin India is estimated to facilitate growth through 2025. Europe is anticipatedto witness favorable growth during the forecast period, owing to sustainableeconomic growth and increased investment. Furthermore, in the mature markets ofthe US, Western Europe, and Japan, the demand is driven by the reboundingproductions of motor vehicles and a healthy fixed investment environment.Increased sales of high-value bearings, such as large-diameter, custom-builtbearings used in heavy machinery and wind turbines are also expected to drivethe growth in North America. In the Middle East and Africa, the rapiddevelopment of city infrastructures is positively influencing the overallgrowth.
The global ball bearing markethas been segmented based on type and application. Based on type, the globalmarket is divided into deep-groove ball bearings, angular contact ballbearings, self-aligning ball bearings, thrust ball bearings, and others. Theself-aligning bearing product segment is expected to grow significantly in thecoming years. This is attributed to the increasing demand from the applicationsincluding machine tools such as paper and textile processing machinery. Basedon application, the global ball bearing market is segmented into automotive,electronics, aerospace & defense, construction, and others. The automotivesegment has accounted for a significant share in the global ball bearing marketover the assessment period owing to the growing sales of passenger cars andcommercial vehicles in the developed and developing regions.
BallBearing Market Growth: Global Ball Bearing Market is expected togrow at 4% CAGR during the forecast period.
Scope of the Report
This report provides an in-depthanalysis of the global ball bearing market, tracking two market segments acrossfour geographic regions. The report studies key players, providing a five-yearannual trend analysis that highlights the market size and shares for NorthAmerica, Europe, Asia-Pacific, and the Rest of the World. The report alsopresents a forecast, focusing on the market opportunities for the next fiveyears for each region. The scope of the study segments the global ball bearingmarket by type, application, and region.
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Type
Deep-Groove Ball Bearings
Angular Contact Ball Bearings
Self-Aligning Ball Bearings
Thrust Ball Bearings
Others
Application
Automotive
Electronics
Aerospace & Defense
Construction
Others
By Region
North America
Asia-Pacific
Europe
Rest of the World
Key Players
The key players operating in theglobal ball bearing market are NTN Corporation, Nachi-Fujikoshi Corp, SchaefferGroup, NSK Ltd., The Timken Company, Myonic GmbH, LYC Bearing Corporation, TheDanaher Corporation, GKN Plc, SKF, THB Bearing, Luoyang Huigong BearingTechnology Co., Ltd., among others.
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