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Global Ball Bearing Market: By Application: Automobile, General Engineering, Mining and Construction, Railways, Aerospace and Shipping, Agriculture, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Ball Bearing Market Outlook
The global ball bearing market size reached a value of about USD 36.6 billion in 2020. The market is further expected to increase at a CAGR of 4.5% between 2023 and 2028 to reach a value of approximately USD 47.6 billion by 2027.
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The Asia Pacific is the major market for ball bearings, accounting for the largest ball bearing market share. Significant nations, including China, India, Japan, Korea, Taiwan, and Indonesia, are adding to the expansion of the Asia Pacific market for ball bearings. End-user segments in the region that rely heavily on ball bearings are experiencing growth due to factors like the existence of favourable government policies, growing disposable incomes, rapid urbanization, as well as the rising living standards. This, in effect, will drive the growth of the industry in this region. In addition, growing investment in end-user sectors would also improve the growth prospects of the Asia Pacific industry.
Automobile holds the largest application segment accounting for the largest share of the global ball bearing market. Wind turbines need maintenance-free as well as high-quality ball bearings to help increase the efficiency and performance of the turbine. The increasing number of windmills in the world is generating a huge demand for ball bearings in this industry. Producers are now producing ball bearing sensor modules that are used in conveyors, road rollers, and electric motors. Such components aid in the digital monitoring of revolution speed, acceleration, axial movement, deceleration, as well as load power. These factors have significantly aided the growth of the ball bearing market.
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Properties and Applications
A ball bearing, also recognized as an anti-friction part, is a type of rolling-element that has two ring-like tracks with small, freely rotating metal balls between them. Such metal balls provide smooth and low friction by carrying both axial and radial loads. Ball bearings are easy to maintain and, thus, are reliable in service due to their simple nature. These also help to support weight, promote effective transmission of power, and ensure proper alignment of movable components. Thanks to these properties, ball bearings are commonly used for high-speed and rotary applications in a wide range of industries.
It finds wide application in the following sectors:
- Automobile
- General Engineering
- Mining and Construction
- Railways, Aerospace, and Shipping
- Agriculture
- Others
The regional markets for ball bearing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The increasing use of ceramic balls in applications requiring high-grade electrical insulation remains the main driver for global ball bearing market development. The change in emphasis on decreased reliance on transport using petrol or other fossil fuels has been seen in developing nations. This, combined with a rise in social consciousness, has contributed to a rise in the electric vehicle industry, which in consequence has an impact on the demand for ceramic ball bearings. Other factors driving the industry growth include growing investment in rail as well as aerospace, rising wind power output, and the need for lightweight bearings in the automotive sector. All these factors are positively impacting the growth of the industry.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global ball bearing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- NTN Bearing Corporation
- The Timken Company
- Schaeffler Group
- Jtekt Corporation
- SKF
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region |
| Breakup by Application | Automobile, General Engineering, Mining and Construction, Railways, Aerospace and Shipping, Agriculture, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | NTN Bearing Corporation, The Timken Company, Schaeffler Group, Jtekt Corporation, SKF, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Ball Bearing Market Analysis
8.1 Key Industry Highlights
8.2 Global Ball Bearing Historical Market (2018-2022)
8.3 Global Ball Bearing Market Forecast (2023-2028)
8.4 Global Ball Bearing Market by Application
8.4.1 Automobile
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 General Engineering
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Mining and Construction
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Railways, Aerospace and Shipping
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Agriculture
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Ball Bearing Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Ball Bearing Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Ball Bearing Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Ball Bearing Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Ball Bearing Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Ball Bearing Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 NTN Bearing Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 The Timken Company
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Schaeffler Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Jtekt Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 SKF
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ball Bearing Market: Key Industry Highlights, 2018 and 2028
2. Global Ball Bearing Historical Market: Breakup by Application (USD Billion), 2018-2022
3. Global Ball Bearing Market Forecast: Breakup by Application (USD Billion), 2023-2028
4. Global Ball Bearing Historical Market: Breakup by Region (USD Billion), 2018-2022
5. Global Ball Bearing Market Forecast: Breakup by Region (USD Billion), 2023-2028
6. North America Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2022
7. North America Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2023-2028
8. Europe Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2022
9. Europe Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Asia Pacific Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Asia Pacific Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Latin America Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Latin America Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Middle East and Africa Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Middle East and Africa Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Major Importing Countries by Volume (2020)
17. Major Exporting Countries by Volume (2020)
18. Major Importing Countries by Value Million USD (2020)
19. Major Exporting Countries by Value Million USD (2020)
20. Global Ball Bearing Market Structure
Key Questions Answered in the Report
In 2020, the global ball bearing market attained a value of almost USD 36.6 billion.
In the forecast period of 2023-2028, the market is projected to grow at a CAGR of 4.5%.
By 2026, the market is estimated to reach a value of nearly USD 47.6 billion.
The major drivers of the industry, such as the growing use of ceramic balls in applications requiring high-grade electrical insulation, rising disposable incomes, rapid urbanization, growing living standards, favourable government policies, and increasing investments in rail and aerospace industries are expected to aid the market growth.
The rising generation of wind power and the growing electrification of vehicles are expected to be key trends guiding the growth of the industry.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest market share.
The automobile segment accounts for the largest market share among other application segments in the industry.
The key players in the industry are NTN Bearing Corporation, The Timken Company, Schaeffler Group, Jtekt Corporation, and SKF, among others.
Analyst Review
The global ball bearing market attained a value of USD 36.6 billion in 2020 driven by the growing investments in rail and aerospace industries. Aided by the rising adoption of electric vehicles, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 4.5%. The market is projected to reach USD 47.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of application, the automobile sector accounts for the largest share in the industry. The major regional markets for ball bearing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the industry. The key players in the above industry include NTN Bearing Corporation, The Timken Company, Schaeffler Group, Jtekt Corporation, and SKF, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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