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Ball Bearings Market

"Ball Bearings Market Forecasts to 2028 – Global Analysis By Product (Angular Contact Ball Bearings , Axial Ball Bearings), Application (Railways, Aerospace and Shipping, Mining and Construction, Military) and By Geography "

4.1 (27 reviews)
Published: June 2022 ID: SMRC21558
4.1 (27 reviews)
Published: June 2022 ID: SMRC21558

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Ball Bearings Market is accounted for $20.67 billion in 2021 and is expected to reach $27.39 billion by 2028 growing at a CAGR of 4.1% during the forecast period. A ball bearing is a type of rolling-element bearing that uses balls to maintain the separation between the bearing races. The purpose of a ball bearing is to reduce rotational friction and support radial and axial loads. It achieves this by using at least two races to contain the balls and transmit the loads through the balls.

Market Dynamics:

Driver:

Increasing demand for precision engineering across several industries


Precision engineering is concerned with designing components, fixtures, and machines that have a tremendously low tolerance and are stable over time in case of extreme working conditions. The growing demand for precision engineering owing to the rapid rise in the utilization of customized bearings is expected to result in the growth of the market revenue. Moreover, the manufacturers are emphasizing the development and manufacturing of precision bearings for power trains and drive parts of artificial satellites, etc., to surge the entire ecosystem

Restraint:

Fluctuation of raw material cost


The variations in trade policies, inequity in the supply & demand ecosystem, variations in foreign exchange rates, heightened geopolitical risks across different geographies, etc. create a potential impact on the pricing of steel and aluminum bearing materials. Furthermore, the bearing components which comprise cages, shields, seals, etc. require lubrication at frequent intervals to ensure smooth functioning and low friction. This further leads to a high cost of maintenance resulting in slowing down the market.

Opportunity:

Advancement of digitalization and smart technologies


Digitalization is one of the important approaches to adopting wireless options across industry verticals. The bearing is digitized by measuring its lubrication state and vibration pattern. These extents are evaluated to take corrective actions in case of potential problems. For industrial applications, the sensor measures the direction, temperature, speed, and vibration of these bearings. Also, the introduction of real-time-enabled Internet of Things (IoT) and Artificial intelligence (AI) is benefitting the end-users to simply track the conditions of their bearings at all times. Moreover, the technological shift towards (EV) Electric Vehicles is found to be positive. It is because; the electric vehicles have bearings with advanced technology than the traditional car with an Internal Combustion (IC) engine.

Threat:

Shock loads


Ball bearings have a higher load rating and can cope with shock loads. Thus, it is noisier at very high speeds and low resistance to shock loading. Additionally, design of ball bearing housing complicated regular maintenance cost hinders the growth of market, globally.

Deep-Groove Ball Bearings segment is expected to be the largest during the forecast period

Deep-Groove Ball Bearings segment is expected to be the largest during the forecast period, as their simplicity, design, low-operating temperature, and low friction features are increasing their adoption in a wide range of end-users including automotive and electronics among others. Deep groove ball bearings' capacity to carry axial and radial loads with great durability and low maintenance time helps them in gaining traction in agriculture, rail, and aerospace applications.

The Automotive segment is expected to have the highest CAGR during the forecast period

The Automotive segment held the largest market share. The segment growth is accredited to growing vehicle sales along with increasing demand for automotive moving parts, which required ball bearings to function. Ball bearings are widely used in doors, wipers, bonnet hinges, and rear mirrors for the smooth functions and performance of the vehicle. The growing production of vehicles is boosting the market growth for this segment.

Region with highest share:

The Asia Pacific is projected to hold the highest market share; the region’s growth is attributed to the rise of the automotive sector in several economies such as China, India, Japan, and South Korea. The province accounted for more than half of the overall demand for bearings. Car purchases are increasing in several developing countries, including India, Indonesia, and Thailand, which is expected to help to improve the regional economy.

Region with highest CAGR:

North America is projected to have the highest CAGR; the province’s growth is attributed to the rising adoption of the product in several industries, such as automotive, light and heavy industrial machines and equipment aerospace & defense, and construction industry. Several massive projects have recently been undertaken and are nearing completion. For instance, the California High-Speed Rail Project (US$ 77 billion), Sound Transit 3 (US$ 54 billion), and the Las Vegas Convention Center (US$ 52.5 billion) are undergoing projects in the US, which is expected to increase the substantial use of ball bearing product during the forecast period.

Key players in the market:

Some of the key players profiled in the Ball Bearings Market include AST Corporation, Federal-Mogul Corporation, Graham Corporation, Ingersoll Rand, JTEKT Corporation, LYC Bearing, MinebeaMitsumi, Nachi Fujikoshi, NSK Ltd, NTN Corporation, RBC Bearings, Schaeffler Technologies AG & Co. KG, SKF Company, Spyraflo, Inc, The Timken Company.

Key developments:

In September 2018: SKF launched its Ball Bearing Units-UC range in India, to cater to the increasing market demand. The product is cost-efficient meeting international standard quality and locally manufactured.

In November  2017: Schaeffler AG partnered with Audi, and has started to develop the technology, primarily in fields of transmission, engine, bearings, and others to increase the performance density in Formula E. Schaeffler has been developing drive trains for “Formula E” together with Audi since 2017.

Products Covered: 
• Axial Ball Bearings       
• Deep-Groove Ball Bearings      
• Self-Aligning Ball Bearings        

Applications Covered:
• Railways, Aerospace and Shipping
• Mining and Construction
• Military        
• Heavy industry       
• General Engineering      
• Automotive        
• Automobile
• Agriculture
• Aerospace Engineering           

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary   
    
2 Preface   

 2.1 Abstract  
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology  
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions 
    
3 Market Trend Analysis   
 3.1 Introduction  
 3.2 Drivers  
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats  
 3.6 Products Analysis  
 3.7 Application Analysis  
 3.8 Emerging Markets  
 3.9 Impact of Covid-19  
    
4 Porters Five Force Analysis   
 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes  
 4.4 Threat of new entrants  
 4.5 Competitive rivalry  
    
5 Global Ball Bearings Market, By Product   
 5.1 Introduction  
 5.2 Angular Contact Ball Bearings         
 5.3 Axial Ball Bearings          
 5.4 Deep-Groove Ball Bearings         
 5.5 Self-Aligning Ball Bearings         
    
6 Global Ball Bearings Market, By Application   
 6.1 Introduction  
 6.2 Railways, Aerospace and Shipping  
 6.3 Mining and Construction  
 6.4 Military           
 6.5 Heavy industry          
 6.6 General Engineering         
 6.7 Automotive          
 6.8 Automobile  
 6.9 Agriculture  
 6.10 Aerospace Engineering         
    
7 Global Ball Bearings Market, By Geography   
 7.1 Introduction  
 7.2 North America  
  7.2.1 US 
  7.2.2 Canada 
  7.2.3 Mexico 
 7.3 Europe  
  7.3.1 Germany 
  7.3.2 UK 
  7.3.3 Italy 
  7.3.4 France 
  7.3.5 Spain 
  7.3.6 Rest of Europe 
 7.4 Asia Pacific  
  7.4.1 Japan 
  7.4.2 China 
  7.4.3 India 
  7.4.4 Australia 
  7.4.5 New Zealand 
  7.4.6 South Korea 
  7.4.7 Rest of Asia Pacific 
 7.5 South America  
  7.5.1 Argentina 
  7.5.2 Brazil 
  7.5.3 Chile 
  7.5.4 Rest of South America 
 7.6 Middle East & Africa  
  7.6.1 Saudi Arabia 
  7.6.2 UAE 
  7.6.3 Qatar 
  7.6.4 South Africa 
  7.6.5 Rest of Middle East & Africa 
    
8 Key Developments   
 8.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 8.2 Acquisitions & Mergers  
 8.3 New Product Launch  
 8.4 Expansions  
 8.5 Other Key Strategies  
    
9 Company Profiling   
 9.1 AST Corporation          
 9.2 Federal-Mogul Corporation         
 9.3 Graham Corporation         
 9.4 Ingersoll Rand           
 9.5 JTEKT Corporation          
 9.6 LYC Bearing          
 9.7 MinebeaMitsumi          
 9.8 Nachi Fujikoshi          
 9.9 NSK Ltd           
 9.10 NTN Corporation          
 9.11 RBC Bearings          
 9.12 Schaeffler Technologies AG & Co. KG        
 9.13 SKF Company          
 9.14 Spyraflo, Inc          
 9.15 The Timken Company         


List of Tables    
1 Global Ball Bearings Market Outlook, By Region (2020-2028) (US $MN)    
2 Global Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
3 Global Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)    
4 Global Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
5 Global Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
6 Global Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
7 Global Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
8 Global Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
9 Global Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
10 Global Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
11 Global Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
12 Global Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
13 Global Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
14 Global Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
15 Global Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
16 Global Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)    
17 North America Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)    
18 North America Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
19 North America Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)     
20 North America Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
21 North America Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
22 North America Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
23 North America Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
24 North America Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
25 North America Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
26 North America Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
27 North America Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
28 North America Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
29 North America Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
30 North America Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
31 North America Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
32 North America Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)    
33 Europe Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)    
34 Europe Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
35 Europe Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)    
36 Europe Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
37 Europe Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
38 Europe Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
39 Europe Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
40 Europe Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
41 Europe Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
42 Europe Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
43 Europe Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
44 Europe Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
45 Europe Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
46 Europe Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
47 Europe Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
48 Europe Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)    
49 Asia Pacific Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)    
50 Asia Pacific Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
51 Asia Pacific Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)    
52 Asia Pacific Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
53 Asia Pacific Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
54 Asia Pacific Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
55 Asia Pacific Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
56 Asia Pacific Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
57 Asia Pacific Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
58 Asia Pacific Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
59 Asia Pacific Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
60 Asia Pacific Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
61 Asia Pacific Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
62 Asia Pacific Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
63 Asia Pacific Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
64 Asia Pacific Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)    
65 South America Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)    
66 South America Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
67 South America Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)    
68 South America Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
69 South America Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
70 South America Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
71 South America Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
72 South America Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
73 South America Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
74 South America Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
75 South America Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
76 South America Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
77 South America Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
78 South America Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
79 South America Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
80 South America Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)    
81 Middle East & Africa Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)    
82 Middle East & Africa Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)    
83 Middle East & Africa Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)    
84 Middle East & Africa Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)    
85 Middle East & Africa Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)    
86 Middle East & Africa Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)    
87 Middle East & Africa Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)    
88 Middle East & Africa Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)    
89 Middle East & Africa Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)    
90 Middle East & Africa Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)    
91 Middle East & Africa Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)    
92 Middle East & Africa Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)    
93 Middle East & Africa Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)    
94 Middle East & Africa Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)    
95 Middle East & Africa Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)    
96 Middle East & Africa Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)     

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