How Has The Ball Bearing Market Performed Recently And What Does The Future Hold?
The ball bearing market has seen a strong growth in recent years, rising from $41.8 billion in 2024 to $43.96 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. This growth can be attributed to a slew of potent factors including industrialization, the surge in the automotive sector, burgeoning demand from the aerospace industry, the spread of globalization and the robust development of the energy sector.
Moreover, going forward, the ball bearing market shows no signs of slowing down. Indeed, it is anticipated to grow robustly to $55.84 billion in 2029 at a CAGR of 6.2%. This optimistic forecast is fuelled by increasing focus on sustainability, ongoing miniaturization trends, resilience in supply chains, customization demands, and the rise of predictive maintenance. Key trends to keep an eye on would include smart manufacturing and industry 4.0, sustainability and environmental considerations, advanced materials technology, and increasing importance of maintenance and reliability.
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What Is Driving The Global Ball Bearing Market Growth?
The swelling demand for electric vehicles (EVs) is set to boost the growth of the global ball bearing market remarkably. EVs, which are largely or completely driven by electricity, have been bagging a growing share of the vehicle market. Greater demand for EVs spells good news for the ball bearing market, as ball bearings enhance vehicle performance and reduce friction in tires – allowing for smoother movement with lesser power. Sales of electric vehicles reached 10 million in 2022 and are projected to rise to 14 million in 2023, according to data from the International Energy Agency, a France-based intergovernmental organization.
How Is The Global Ball Bearing Market Segmented?
1) By Type: Self-Aligning Bearing, Deep Grove Ball Bearing, Angular Contact Ball Bearing, Other Types
2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Two-Wheelers
3) By Distribution Channel: Original Equipment Manufacturers (OEMs), Aftermarket
4) By Application: Automotive, Industrial Machinery, Mining And Construction, Medical, Other Applications
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Which Are The Key Players In The Ball Bearing Market?
Leading companies in the ball bearing market include NTN Bearing Corporation, The Timken Company, Schaeffler AG, Jtekt Corporation, SKF AB, LYC Bearing Corporation, NSK Ltd., Nachi Fujikoshi Corp., Myonic GmbH, Luoyang Huigong Bearing Technology Co. Ltd., ISB Industries Pvt. Ltd., THB Bearings Co. Ltd., Federal Moghul Holding Corporation, THK Company, Brammer PLC, and many more.
What Key Trends Are Defining The Ball Bearing Market Landscape?
Technological advancements are making waves in the ball bearing market. Companies are exploring new technologies to keep a competitive edge. Take SKF’s Hybrid deep groove ball bearing, launched in August 2022, which blends the advantages of steel and ceramic materials for a product that’s efficient, lightweight, and durable. The hybrid design results in lower friction and improved wear resistance, making it perfect for demanding applications in industries such as automotive and aerospace.
Which Region Dominates The Ball Bearing Market, And Why?
In 2024, the Asia-Pacific region was the largest in the ball bearing market. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Ball Bearing Market Report 2025 Offer?
The ball bearing market research report from The Business Research Company covers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Ball bearings find heavy-duty applications in machinery for speed rotation and help maintain an appropriate gap between rotating parts for desired motion. They are used in various applications with a high speed and low load and can be found in everyday items such as skateboards, blenders, bicycles, DVD players, and photocopiers.
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