The global ceramic ball bearings market reached a value of US$ 996.1 Million in 2018. Ceramic ball bearings are currently gaining traction around the world as they are superior and more durable than stainless-steel bearings in various aspects. Ceramic ball bearings require less energy owing to their high speed that aids in reducing friction. Moreover, they also offer high dimensional stability; have smoother and rounder surfaces; and provide the low density and optimum resistance against heat and corrosion. Owing to these advantages offered by ceramic ball bearings, they are widely replacing conventional ball bearings in various applications. Nowadays, hybrid ceramic ball bearings are available in different sizes, specifically designed as per the requirement of the industry to minimize the risk of costly repairs and reduce operating costs.
Ceramic ball bearings are significantly lighter and harder compared to their metal counterparts. They do not rust and can self-lubricate and operate at faster speeds. Also, these ball bearings can tolerate intense physical impact and perform exceptionally well when subjected to harsh conditions such as in high corrosion environments, lack of lubrication and elevated temperatures. Other than this, they have excellent electrical insulation properties, which lessen the menace of electrical erosion and seizure of the rolling elements. Owing to this, these bearings are widely employed in passenger cars, commercial vehicles and numerous automobile components. Besides this, manufacturers have improved the performance of ball bearings by using the advanced seal, lightweight materials and lubrication technologies. These advancements have created vast opportunities for the leading players operating in the industry. Looking forward, IMARC Group expects the market value to reach US$ 1,842.5 Million by 2024, registering at a CAGR of around 10.6% during the forecast period (2019-2024).
Breakup by Raw Material:
Ceramic Ball bearings made from silicon nitride currently exhibits a clear dominance in the market as they have a low-density, and better strength and toughness as compared to the ball bearings made from other materials.
Breakup by Product Type:
At present, hybrid ceramic ball bearings represent the most preferred product type owing to their availability in a variety of styles and sizes, such as angular contact bearings, radial bearings and insert bearings.
Breakup by Application:
Electric motors represent the largest application segment, accounting for the majority of the total market share. This can be accredited to several advantages offered by ceramic ball bearings, which include better acceleration capability, lower friction, improved wear-resistance and higher speed.
On the geographical front, the United States enjoys the leading position in the market since there is an increasing trend of rebounding productions of motor vehicles and a healthy fixed investment environment in the region.
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 the leading players are:
Key Questions Answered in This Report:
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