Ball Bearing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global ball bearing market size reached US$ 41.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
A ball bearing is a rolling element comprising two ring-like tracks with small rotating metal balls. It is durable and provides a smooth and low friction motion that supports axial and radial loads. It helps maintain an appropriate gap between the rotating parts while offering support to obtain the desired motion. Besides this, it aids in supporting weight, facilitating efficient power transmission, and ensuring proper alignment of movable components. As a result, it is extensively used in the manufacturing of high-speed and rotatory automobile parts, farm and medical equipment, and defense machinery.
Ball Bearing Market Trends
The expanding construction activities in the residential and commercial sectors on account of the rising global population and inflating income levels are catalyzing the demand for ball bearings in construction equipment. Apart from this, the growing demand for electric vehicles (EVs) due to rising environmental concerns is driving the sales of ball bearings worldwide. Additionally, the expansion of windmill farms is escalating the demand for ball bearings as they help improve the reliability, efficiency, and performance of wind turbines. Furthermore, leading manufacturers are focusing on upgrading the functional capacity of ball bearings at lower costs. They are also enhancing the features of the existing bearings, such as lowering torque, reducing weight, decreasing energy consumption, increasing temperature range, strengthening the lifecycle, and refining friction resistance, which is propelling the market growth. Apart from this, the growing awareness about the benefits of ball bearings, such as low maintenance requirement, rigidity, high frictional resistance, and longer life span, is anticipated to expand their application in various end use industries, including aerospace, transportation, and mining.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ball bearing market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Automobile
General Engineering
Mining and Construction
Railways, Aerospace and Shipping
Agriculture
Others
The automobile sector presently accounts for the majority of the market share due to the increasing sales of electric vehicles (EVs).
Regional Insights:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
The Asia Pacific holds the largest market share on account of the expanding construction activities and technological innovations in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are
NTN Corporation
Timken
JTEKT
SKF
Schaeffler Group
This report provides a deep insight into the global ball bearing market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ball bearing industry in any manner.
Key Questions Answered in This Report
1. What was the size of the global ball bearing market in 2022?
2. What is the expected growth rate of the global ball bearing market during 2023-2028?
3. What are the key factors driving the global ball bearing market?
4. What has been the impact of COVID-19 on the global ball bearing market?
5. What is the breakup of the global ball bearing market based on the application?
6. What are the key regions in the global ball bearing market?
7. Who are the key players/companies in the global ball bearing market?
A ball bearing is a rolling element comprising two ring-like tracks with small rotating metal balls. It is durable and provides a smooth and low friction motion that supports axial and radial loads. It helps maintain an appropriate gap between the rotating parts while offering support to obtain the desired motion. Besides this, it aids in supporting weight, facilitating efficient power transmission, and ensuring proper alignment of movable components. As a result, it is extensively used in the manufacturing of high-speed and rotatory automobile parts, farm and medical equipment, and defense machinery.
Ball Bearing Market Trends
The expanding construction activities in the residential and commercial sectors on account of the rising global population and inflating income levels are catalyzing the demand for ball bearings in construction equipment. Apart from this, the growing demand for electric vehicles (EVs) due to rising environmental concerns is driving the sales of ball bearings worldwide. Additionally, the expansion of windmill farms is escalating the demand for ball bearings as they help improve the reliability, efficiency, and performance of wind turbines. Furthermore, leading manufacturers are focusing on upgrading the functional capacity of ball bearings at lower costs. They are also enhancing the features of the existing bearings, such as lowering torque, reducing weight, decreasing energy consumption, increasing temperature range, strengthening the lifecycle, and refining friction resistance, which is propelling the market growth. Apart from this, the growing awareness about the benefits of ball bearings, such as low maintenance requirement, rigidity, high frictional resistance, and longer life span, is anticipated to expand their application in various end use industries, including aerospace, transportation, and mining.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ball bearing market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.
Breakup by Application:
Automobile
General Engineering
Mining and Construction
Railways, Aerospace and Shipping
Agriculture
Others
The automobile sector presently accounts for the majority of the market share due to the increasing sales of electric vehicles (EVs).
Regional Insights:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
The Asia Pacific holds the largest market share on account of the expanding construction activities and technological innovations in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are
NTN Corporation
Timken
JTEKT
SKF
Schaeffler Group
This report provides a deep insight into the global ball bearing market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ball bearing industry in any manner.
Key Questions Answered in This Report
1. What was the size of the global ball bearing market in 2022?
2. What is the expected growth rate of the global ball bearing market during 2023-2028?
3. What are the key factors driving the global ball bearing market?
4. What has been the impact of COVID-19 on the global ball bearing market?
5. What is the breakup of the global ball bearing market based on the application?
6. What are the key regions in the global ball bearing market?
7. Who are the key players/companies in the global ball bearing market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL BALL BEARING MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.8.1 Overview
5.8.2 Research and Development
5.8.3 Raw Material Procurement
5.8.4 Manufacturing
5.8.5 Marketing
5.8.6 Distribution
5.8.7 End-Use
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
6 MARKET BREAKUP BY APPLICATION
6.1 Automobile
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 General Engineering
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Mining and Construction
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Railways, Aerospace and Shipping
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Agriculture
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 MARKET BREAKUP BY REGION
7.1 Asia Pacific
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Europe
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 North America
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Middle East and Africa
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Latin America
7.5.1 Market Trends
7.5.2 Market Forecast
8 IMPORTS AND EXPORTS
8.1 Imports by Major Countries
8.2 Exports by Major Countries
9 BALL BEARING MANUFACTURING PROCESS
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 NTN Corporation
10.3.1.1 Company Overview
10.3.1.2 Description
10.3.1.3 Product Portfolio
10.3.1.4 Financials
10.3.1.5 SWOT Analysis
10.3.2 Timken
10.3.2.1 Company Overview
10.3.2.2 Description
10.3.2.3 Product Portfolio
10.3.2.4 Financials
10.3.2.5 SWOT Analysis
10.3.3 JTEKT
10.3.3.1 Company Overview
10.3.3.2 Description
10.3.3.3 Product Portfolio
10.3.3.4 Financials
10.3.3.5 SWOT Analysis
10.3.4 SKF
10.3.4.1 Company Overview
10.3.4.2 Description
10.3.4.3 Product Portfolio
10.3.4.4 Financials
10.3.4.5 SWOT Analysis
10.3.5 Schaeffler Group
10.3.5.1 Company Overview
10.3.5.2 Description
10.3.5.3 Product Portfolio
10.3.5.4 Financials
10.3.5.5 SWOT Analysis
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL BALL BEARING MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.8.1 Overview
5.8.2 Research and Development
5.8.3 Raw Material Procurement
5.8.4 Manufacturing
5.8.5 Marketing
5.8.6 Distribution
5.8.7 End-Use
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
6 MARKET BREAKUP BY APPLICATION
6.1 Automobile
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 General Engineering
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Mining and Construction
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Railways, Aerospace and Shipping
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Agriculture
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 MARKET BREAKUP BY REGION
7.1 Asia Pacific
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Europe
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 North America
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Middle East and Africa
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Latin America
7.5.1 Market Trends
7.5.2 Market Forecast
8 IMPORTS AND EXPORTS
8.1 Imports by Major Countries
8.2 Exports by Major Countries
9 BALL BEARING MANUFACTURING PROCESS
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 NTN Corporation
10.3.1.1 Company Overview
10.3.1.2 Description
10.3.1.3 Product Portfolio
10.3.1.4 Financials
10.3.1.5 SWOT Analysis
10.3.2 Timken
10.3.2.1 Company Overview
10.3.2.2 Description
10.3.2.3 Product Portfolio
10.3.2.4 Financials
10.3.2.5 SWOT Analysis
10.3.3 JTEKT
10.3.3.1 Company Overview
10.3.3.2 Description
10.3.3.3 Product Portfolio
10.3.3.4 Financials
10.3.3.5 SWOT Analysis
10.3.4 SKF
10.3.4.1 Company Overview
10.3.4.2 Description
10.3.4.3 Product Portfolio
10.3.4.4 Financials
10.3.4.5 SWOT Analysis
10.3.5 Schaeffler Group
10.3.5.1 Company Overview
10.3.5.2 Description
10.3.5.3 Product Portfolio
10.3.5.4 Financials
10.3.5.5 SWOT Analysis
LIST OF TABLES
Table 1: Global: Ball Bearing Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Ball Bearing Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 3: Global: Ball Bearing Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 4: Global: Ball Bearing: Import Data by Country
Table 5: Global: Ball Bearing: Export Data by Country
Table 6: Ball Bearing Manufacturing: Raw Material Requirements
Table 7: Global: Ball Bearing Market: Competitive Structure
Table 8: Global: Ball Bearing Market: Key Players
Table 1: Global: Ball Bearing Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Ball Bearing Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 3: Global: Ball Bearing Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 4: Global: Ball Bearing: Import Data by Country
Table 5: Global: Ball Bearing: Export Data by Country
Table 6: Ball Bearing Manufacturing: Raw Material Requirements
Table 7: Global: Ball Bearing Market: Competitive Structure
Table 8: Global: Ball Bearing Market: Key Players
LIST OF FIGURES
Figure 1: Global: Ball Bearing Market: Major Drivers and Challenges
Figure 2: Global: Ball Bearing Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Ball Bearing Market: Breakup by Application (in %), 2022
Figure 4: Global: Ball Bearing Market: Breakup by Region (in %), 2022
Figure 5: Global: Ball Bearing Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 6: Global: Ball Bearing Industry: SWOT Analysis
Figure 7: Global: Ball Bearing Industry: Value Chain Analysis
Figure 8: Global: Ball Bearing Industry: Porter’s Five Forces Analysis
Figure 9: Global: Ball Bearing (Applications in Automobile) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Ball Bearing (Applications in Automobile) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Ball Bearing (Applications in General Engineering) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Ball Bearing (Applications in General Engineering) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Ball Bearing (Applications in Mining and Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Ball Bearing (Applications in Mining and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Ball Bearing (Applications in Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Ball Bearing (Applications in Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Ball Bearing (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Ball Bearing (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Asia Pacific: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Asia Pacific: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Europe: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Europe: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: North America: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: North America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Middle East and Africa: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Middle East and Africa: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Latin America: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Latin America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Ball Bearing: Import Breakup by Country (in %)
Figure 32: Global: Ball Bearing: Export Breakup by Country (in %)
Figure 33: Ball Bearing Manufacturing: Detailed Process Flow
Figure 1: Global: Ball Bearing Market: Major Drivers and Challenges
Figure 2: Global: Ball Bearing Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Ball Bearing Market: Breakup by Application (in %), 2022
Figure 4: Global: Ball Bearing Market: Breakup by Region (in %), 2022
Figure 5: Global: Ball Bearing Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 6: Global: Ball Bearing Industry: SWOT Analysis
Figure 7: Global: Ball Bearing Industry: Value Chain Analysis
Figure 8: Global: Ball Bearing Industry: Porter’s Five Forces Analysis
Figure 9: Global: Ball Bearing (Applications in Automobile) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Ball Bearing (Applications in Automobile) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Ball Bearing (Applications in General Engineering) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Ball Bearing (Applications in General Engineering) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Ball Bearing (Applications in Mining and Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Ball Bearing (Applications in Mining and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Ball Bearing (Applications in Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Ball Bearing (Applications in Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Ball Bearing (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Ball Bearing (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Asia Pacific: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Asia Pacific: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Europe: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Europe: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: North America: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: North America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Middle East and Africa: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Middle East and Africa: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Latin America: Ball Bearing Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Latin America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Ball Bearing: Import Breakup by Country (in %)
Figure 32: Global: Ball Bearing: Export Breakup by Country (in %)
Figure 33: Ball Bearing Manufacturing: Detailed Process Flow
