The latest research study, “Ball Bearing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” has been added by IMARC Group. The global ball bearing market size reached US$ 39.4 Billion in 2021. Looking forward, the market expects to reach US$ 50.7 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027.
Ball bearings, a type of rolling-element bearings, are utilized to reduce the friction between moving rotary parts of an instrument or equipment. They are used to maintain an appropriate gap between the rotating parts while offering support to obtain the desired motion. Consisting of an outer ring, an inner ring, steel balls and a cage, these components offer smooth and low friction motion by supporting both axial and radial loads. They are also used for efficiently transmitting power and ensuring proper alignment of movable components. Ball bearings are characterized by enhanced durability and low maintenance, owing to which they are widely used for numerous applications, including automobile parts, farm and medical equipment, and defense machinery.
Competitive Landscape:
Some of the leading players operating in the market are: NTN CORP (6472.T), Timken Company (The) (TKR), JTEKT CORPORATION (JTEKY), SKF AB (SKFRY), SCHAEFFLER AG INH. VZO (SHA.DE)
Request for a sample copy of this report: https://www.imarcgroup.com/ball-bearing-market/requestsample
Global Ball Bearing Industry Drivers/Constraints:
The global market is primarily driven by the increasing demand for specialized ball bearings that are well-suited for various industry-specific requirements, coupled with significant growth in the end use sectors. These components are extensively employed as an indispensable component in wind turbines. Good quality bearings are essential in enhancing the reliability and performance of the turbines, which is facilitating their uptake on the global level. The versatile nature of these bearings has also led to their widespread adoption in the automotive sector. In line with this, a significant increase in the adoption of electric vehicles (EVs), owing to rising environmental consciousness, is also contributing to the market growth.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/ball-bearing-market
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Breakup by Application
1. Automobile
2. General Engineering
3. Mining and Construction
4. Railways, Aerospace and Shipping
5. Agriculture
6. Others
Market Breakup by Region
1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
Browse related reports:
Cable Accessories Market Research Report: https://www.imarcgroup.com/cable-accessories-market
Flow Meter Market Research Report: https://www.imarcgroup.com/flow-meter-market
Gas Analyzer Market Research Report: https://www.imarcgroup.com/gas-analyzer-market
Alternators Market Research Report: https://www.imarcgroup.com/alternator-market
Miniature Ball Bearing Market Research Report: https://www.imarcgroup.com/miniature-ball-bearing-market
Gas Insulated Switchgear Market: https://www.imarcgroup.com/gas-insulated-switchgear-market
India Cable Accessories Market: https://www.imarcgroup.com/india-cable-accessories-market
Servo Motors and Drives Market: https://www.imarcgroup.com/servo-motors-drives-market
Calibration Services Market: https://www.imarcgroup.com/calibration-services-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: +1-631-791-1145
Address:30 N Gould St Ste R
City: Sheridan
State: WY
Country: United States
Website: https://www.imarcgroup.com