According to the latest report by IMARC Group, titled "China Ceramic Ball Bearing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the ceramic ball bearing market in China is expected to grow at a CAGR of 8.29% during 2022-2027. Ceramic ball bearings are widely used to reduce the friction between moving rotary parts of an instrument or equipment. They comprise numerous parts, such as the cage, steel balls and outer and inner rings. They are essential in efficiently transmitting power and offering smooth and low friction motion by supporting both axial and radial loads. Ceramic variants are superior in quality and offer improved durability when compared to the stainless-steel bearings. They are capable of withstanding extreme physical impact and can efficiently work when placed under harsh temperatures and high corrosion environments. They require lesser amounts of energy due to their high speed. Since they are characterized by smoother and rounder surfaces, their usage also assists in reducing friction while offering higher dimensional stability.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
China Ceramic Ball Bearing Market Trends:
The market is primarily driven by a significant increase in vehicle production in China. This can be attributed to the increasing expenditure capacities and the competitive pricing of the majority of the automobiles, which, in turn, is escalating the sales of automobiles across urban and rural areas. In addition to this, several favorable government policies, such as reduced purchase fees for new cars and subsidies for car-buyers in rural areas, are acting as another growth-inducing factor. The increasing exports of vehicles have also contributed to the industry growth, as China has a well-established foothold on numerous foreign markets. Since ceramic ball bearings operate at relatively faster speeds and perform exceptionally well when subjected to harsh conditions, they form an essential component in the production of numerous automobiles. Apart from this, the country has a strong aftermarket for industrial equipment and motor vehicle repair, which uses these bearings as a preferred option. Hybrid ceramic ball bearings are gaining preference for repair purposes as their utilization minimizes the overall cost of the repair and results in reduced operating costs. Furthermore, numerous key players are equipping these ball bearings with advanced technologies and lightweight materials to improve the overall performance, thereby creating a positive outlook for the market.
- On the basis of the raw material, the market has been divided into zirconium oxide, silicon nitride and others.
- Based on the product type, the market has been bifurcated into hybrid and full ceramic ball bearings.
- On the basis of the application, the market has been classified into electric motors, automobile, under water equipment, laboratory equipment, aerospace and others.
- On the geographical front, the market has been segmented into Guangdong, Jiangsu, Shandong, Zhejiang, Henan and Others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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