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Ball Bearing Market

Global Ball Bearing Market Size, Share, Trends, Forecast: By Application: Automobile, General Engineering, Mining and Construction, Railways, Aerospace and Shipping, Agriculture, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Global Ball Bearing Market Outlook

The global ball bearing market size reached a value of about USD 41.77 billion in 2023. The market is further expected to increase at a CAGR of 4.5% between 2024 and 2032 to reach a value of approximately USD 61.99 billion by 2032.

 

 Ball Bearing Market

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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.

 

 Ball Bearing Market by Application

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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.

 

 Ball Bearing Market by Region

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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
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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 (2018-2023) 
    8.3    Global Ball Bearing Market Forecast (2024-2032)
    8.4    Global Ball Bearing Market by Application
        8.4.1    Automobile
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    General Engineering
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Mining and Construction
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Railways, Aerospace and Shipping
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Agriculture
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Others 
    8.5    Global Ball Bearing Market by Region
        8.5.1    North America
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Europe
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Asia Pacific
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Latin America
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Middle East and Africa
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
9    North America Ball  Bearing Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Ball Bearing Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Ball Bearing Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Ball Bearing Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Ball Bearing Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Ball Bearing Historical Market: Breakup by Application (USD Billion), 2018-2023
3.    Global Ball Bearing Market Forecast: Breakup by Application (USD Billion), 2024-2032
4.    Global Ball Bearing Historical Market: Breakup by Region (USD Billion), 2018-2023
5.    Global Ball Bearing Market Forecast: Breakup by Region (USD Billion), 2024-2032
6.    North America Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2023
7.    North America Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2024-2032
8.    Europe Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    Europe Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Asia Pacific Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Asia Pacific Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Latin America Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Latin America Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Middle East and Africa Ball Bearing Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Middle East and Africa Ball Bearing Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Major Importing Countries by Volume 
17.    Major Exporting Countries by Volume 
18.    Major Importing Countries by Value Million USD 
19.    Major Exporting Countries by Value Million USD 
20.    Global Ball Bearing Market Structure

Key Questions Answered in the Report

In 2023, the global ball bearing market attained a value of almost USD 41.77 billion.

The market is expected to grow at a CAGR of 4.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 61.99 billion by 2032.

The major drivers of the market are growing use of ceramic balls in applications requiring high-grade electrical insulation, rising disposable incomes, rapid urbanisation, growing living standards, and increasing investments in rail and aerospace industries.

The increasing generation of wind power, favourable policies by various governments, and the growing electrification of vehicles are expected to be key trends guiding the growth of the market.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Various applications of ball bearings in the market are automobile, general engineering, mining and construction, railways, aerospace, and shipping, and agriculture, among others.

The key players in the global ball bearing market 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 41.77 billion in 2023 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 2024-2032, growing at a CAGR of 4.5%. The market is projected to reach USD 61.99 billion by 2032.

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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