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The China ceramic ball bearing market reached a value of US$ 228 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
China currently represents the second largest market for ceramic ball bearings after the United States. Ceramic ball bearings can stand up to extreme physical impact and function extremely well when subjected under harsh conditions, such as high temperatures, lack of lubrication, and high corrosion environments. These physical properties act as the major driver of the market. Another key factor catalysing the sales of ceramic ball bearings in the region is the rapid expansion of machinery and motor vehicle manufacturing, combined with a strong aftermarket for industrial equipment and motor vehicle repair. Apart from this, the Chinese government has been encouraging the manufacturing of electronic products so as to improve domestic productivity and to increase the value of Chinese exports.
|Base Year of the Analysis||2020|
|Segment Coverage||Raw Material, Product Type, Application, Region|
|Region Covered||Guangdong, Jiangsu, Shandong, Zhejiang, Henan, Others|
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