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Description
The global ball bearing market was valued US 19.3 Bn in 2021 and is poised to grow with a CAGR of 2.4% over 2022-2028. 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. This 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. This report gives historical, current, and future market sizes (US$ Mn) on the basis of product, end user and region. This report studies Global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this 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 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.
