Global Ball Bearing Market Report Description:
Global ball bearing market report gives comprehensive outlook on ball bearing across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report on global ball bearing market gives historical, current, and future market sizes (US$ Mn) on the basis of product, end user and region. This report studies global ball bearing market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global ball bearing market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global ball bearing market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global ball bearing market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global ball bearing products.
Global Ball Bearing Market:
The global ball bearing market was valued US 19.3 Bn in 2019 and is poised to grow with a CAGR of 2.4% over 2020-2026. Some the key factors fueling the market growth include increasing demand for ball bearings across various sectors, rising demand for electric vehicles, growing demand from mining and construction sector, increasing number of windmill farms, presence of favorable government policies, the rising disposable income, rapid urbanization and the increasing standards of living. However, volatility in raw material prices are limiting the market growth.
Deep groove Accounts for Larger Market Revenue Share in Global Ball Bearing Market
Deep groove accounted for larger revenue share in global ball bearing market with a significant CAGR and is expected to grow over the forecast years. Deep groove are widely used in electric motors to decrease the leakage of grease, increase the operating life and lower the friction significantly. Their application in electric appliances to progress the geometries of bearings offer high precision, soften running and lower noise level will drive market growth in this segment.
Asia Pacific Accounts for Larger Market Revenue Share in Global Ball Bearing Market
Asia Pacific accounted for larger revenue share in global ball bearing market with a significant CAGR and is expected to grow over the forecast years and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing disposable income and rapid urbanization will significantly drive market growth in this region over the forecast period. Europe has the presence of leading automobile manufacturers along with the largest private investors in R&D. The evolving construction infrastructure projects in Europe are further expected to drive this type of bearings industry in the near future.
Key player’s profiles in the global ball bearing market include:
- AB SKF
- Harbin Bearing Manufacturing Co. Ltd.
- JTEKT Corp.
- Luoyang Huigong Bearing Technology Co. Ltd.
- LYC Bearing Corp.
- MinebeaMitsumi Inc.
- NSK Ltd.
- NTN Corp.
- Schaeffler AG
- The Timken Co.
Global ball bearing market is surging owing to strategic alliances by key players for ball bearing to meet the demands of the customers in the market. For instance,
- in Nov 2017, Schaeer AG in partnership with Audi, and has started to develop the technology, primarily in elds of transmission, engine, bearings, and others to increase the performance density in Formula E. Schaeer has been developing drive trains for “Formula E” together with Audi since 2017.
Key Findings of the Report:
- Global ball bearing market expanding at significant CAGR over 2020 to 2026 owing to increasing demand for ball bearings across various sectors
- Based on region, Asia Pacific accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global ball bearing market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Deep groove
- Angular contact
- Automotive industry
- Heavy industry
- Aerospace and railway industry
- North America
- Rest of Europe
- Au & NZ
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA