The global ball bearing market reached a value of US$ 37.8 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during the next five years. A ball bearing, also known as an anti-friction component, is a type of rolling-element which has two ring-like tracks with small, freely rotating metal balls between them. These metal balls provide a smooth and low friction motion by supporting both axial and radial loads. Ball bearings are easy to maintain and are durable in operations due to their simple design. They also help in supporting weight, facilitating efficient transmission of power and ensuring proper alignment of movable components. Owing to these properties, ball bearings are extensively used for high speed and rotatory applications in numerous industries.
Global Ball Bearing Market Drivers/Constraints:
- Wind turbines require maintenance-free and high-quality ball bearings that help enhance turbine reliability and performance. The growing number of windmill farms worldwide is creating a huge demand for ball bearings in this sector.
- The manufacturers have developed sensor components for ball bearings which are used in conveyors, road rollers and electric motors. These components help in digital monitoring of revolution speed, axial movement, acceleration, deceleration and weight carrying capacity.
- Manufacturers are focusing on upgrading the working capability of ball bearings efficiently at lower costs. They are also improving the characteristics of the existing bearings such as lowering torque, increasing temperature range, reducing weight, decreasing energy consumption, enhancing the lifecycle and refining friction resistance.
- Counterfeit products act as the major hindrance to the global ball bearing market growth. These counterfeit ball bearings can drastically affect the performance of the equipment, leading to a decline in their sales.
Application Insights:
On the basis of application, the market has been segmented into automobile, general engineering, mining and construction, railways, aerospace and shipping, and agriculture sectors. Among these, the automobile sector accounts for the majority of the market share.
Regional Insights:
Region-wise, Asia Pacific represents the leading market for ball bearings, holding the largest share. Other major regions include North America, Europe, Middle East and Africa, and Latin America.
Competitive Landscape:
The competitive landscape of the global ball bearing market has also been analyzed in the report. Some of the leading players operating in the market 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
The global ball bearing market reached a value of US$ 37.8 Billion in 2020.
According to the estimates by IMARC Group, the global ball bearing market is expected to exhibit moderate growth during the next five years.
Increasing demand for specialized ball bearings based on numerous industry-specific requirements, represents one of the key drivers for the global ball bearing market.
The introduction of lightweight and compact ball bearings that are integrated with advanced sensor units for several digital monitoring applications, represents one of the key trends in the global ball bearing market.
Sudden outbreak of the COVID-19 pandemic has led to the implementation of stringent lockdown regulations across various nations resulting in temporary closure of numerous end use industries for ball bearings, such as aerospace, construction, automobile, shipping, etc., thereby hampering the overall market growth.
On the basis of the application, the market has been bifurcated into automobile, general engineering, mining and construction, railways, aerospace and shipping, and agriculture sectors. Amongst these, the automobile sector currently accounts for the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global 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
List of Figures
Figure 1: Global: Ball Bearing Market: Major Drivers and Challenges
Figure 2: Global: Ball Bearing Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Ball Bearing Market: Breakup by Application (in %), 2020
Figure 4: Global: Ball Bearing Market: Breakup by Region (in %), 2020
Figure 5: Global: Ball Bearing Market Forecast: Sales Value (in Billion US$), 2021-2026
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$), 2015 & 2020
Figure 10: Global: Ball Bearing (Applications in Automobile) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Ball Bearing (Applications in General Engineering) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Ball Bearing (Applications in General Engineering) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Ball Bearing (Applications in Mining and Construction) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Ball Bearing (Applications in Mining and Construction) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Ball Bearing (Applications in Railways, Aerospace and Shipping) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Ball Bearing (Applications in Agriculture) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Ball Bearing (Applications in Agriculture) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Ball Bearing (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Ball Bearing (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Asia Pacific: Ball Bearing Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Asia Pacific: Ball Bearing Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Europe: Ball Bearing Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Europe: Ball Bearing Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: North America: Ball Bearing Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: North America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Middle East and Africa: Ball Bearing Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Middle East and Africa: Ball Bearing Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Latin America: Ball Bearing Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Latin America: Ball Bearing Market Forecast: Sales Value (in Million US$), 2021-2026
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
List of Tables
Table 1: Global: Ball Bearing Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Ball Bearing Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 3: Global: Ball Bearing Market Forecast: Breakup by Region (in Million US$), 2021-2026
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