Ball Bearing Market Size And Strategies 2024-2033 – Growth Analysis, Outlook, Overview

The Ball Bearing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Ball Bearing Global Market Report 2024, The ball bearing market size has grown strongly in recent years. It will grow from $40.12 billion in 2023 to $42.4 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%.  The  growth in the historic period can be attributed to industrialization, automotive industry growth, aerospace industry demand, globalization, energy sector development..

The ball bearing market size is expected to see strong growth in the next few years. It will grow to $52.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.  The growth in the forecast period can be attributed to sustainability focus, miniaturization trends, supply chain resilience, customization demands, predictive maintenance.. Major trends in the forecast period include smart manufacturing and industry 4.0, sustainability and environmental considerations, technological advancements in materials, focus on maintenance and reliability..

Growing demand for electric vehicles (EVs) is expected to propel the growth of the ball bearing market going forward. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing population of electric vehicles drives the demand for ball bearings because ball bearings improve vehicle performance, and are used to reduce friction among tires. This helps in the free moving of vehicles with less power. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the ball bearing market going forward.

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The ball bearing market covered in this report is 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 – Whellers

3) By Distribution Channel: Original Equipment Manufacturers (OEMs), Aftermarket

4) By Application: Automotive, Industrial Machinery, Mining And Construction, Medical, Others Applications

Top Major Players:
NTN Bearing Corporation
The Timken Company
Schaeffler AG
Jtekt Corporation
SKF AB

Asia-Pacific was the largest region in the ball bearing market in 2023.

Technological advancements have emerged as a key trend gaining popularity in the ball bearing market. Major companies operating in the ball-bearing sector are focused on introducing new technologies to gain a competitive advantage. For instance, in 2021, NSK Ltd., a Japan-based manufacturer of bearings, launched a third-generation ultra-high speed ball bearing based on leading-edge simulation technology for electric vehicle (EV) motors that can operate at more than 1.8 million dmN. This new bearing is the world’s fastest grease-lubricated deep groove ball bearing that is used for automotive applications. The leading-edge simulation technology helps to increase the vehicle range and lower energy (fuel) consumption.

The ball bearing market report table of contents includes:

1. Executive Summary
2. Ball Bearing Market Characteristics
3. Ball Bearing Market Trends And Strategies
4. Ball Bearing Market – Macro Economic Scenario
5. Global Ball Bearing Market Size and Growth
….……
31. Global Ball Bearing Market Competitive Benchmarking
32. Global Ball Bearing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ball Bearing Market
34.Ball Bearing Market Future Outlook and Potential Analysis
35. Appendix

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