Global Ceramic Ball Bearings Market to Reach US$ 1,903.7 Million by 2028, Impelled by Increasing Utilization in Automotive Industry

According to the latest report by IMARC Group, titled “Ceramic Ball Bearings Market: Global Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global ceramic ball bearings market size reached US$ 1,202.3 Million in 2022. Ceramic ball bearings are presently gaining immense preference across the globe. They offer rigidity, smoother surface, corrosion resistance, high-temperature resistance, and lower friction resistance as compared to their metallic counterparts. Additionally, ceramic ball bearings provide higher speed and acceleration capability and are widely available in various sizes, specifically designed to meet the requirements of different industries. They also assist in reducing the operational costs and the risk of costly repairs.
 

Global Ceramic Ball Bearings Market Trends:

Ceramic ball bearings have remarkable electrical insulation properties that reduce the risk of electrical erosion and seizure of the rolling elements. As a result, they are widely employed in the manufacturing of different automobile components. Moreover, as ball bearings are lighter and harder compared to their counterparts and can self-lubricate and operate at faster speeds, their sales are boosting around the world. Apart from this, ceramic ball bearings can perform exceptionally well when subjected to harsh conditions, such as elevated temperatures or high corrosion environments, as they can tolerate intense physical impact. This, in confluence with the increasing focus on improving the performance of ball bearings by utilizing lightweight materials, advanced seal and lubrication technologies, is fostering the growth of the market. Other major factors, such as the escalating demand for ceramic ball bearings in grinding media, valves and agitators, are anticipated to positively influence the market. Looking forward, the market value is projected to reach US$ 1,903.7 Million by 2028, expanding at a CAGR of 8.18% during the forecast period (2023-2028).

Market Summary:

• Based on the raw material, the market has been classified into zirconium oxide, silicon nitride and others. At present, zirconium oxide dominates the market as it is relatively more durable.
• On the basis of the product type, the market has been bifurcated into hybrid and full ceramic ball bearings. Presently, hybrid ceramic ball bearings hold the largest market share.
• Based on the application, the market has been segmented into electric motors, automobiles, underwater equipment, laboratory equipment, aerospace, and others. Amongst these, electric motors account for majority of the total global market.
• Region-wise, the United States enjoys the leading position in the market. Other major regions include China, Europe, Japan, India and South-East Asia.
• The competitive landscape of the market has been examined, with some of the key players being AB SFK, NSK Ltd., NTN Corporation, Ortech Incorporated, CermaicSpeed, Shanghai Lily Bearing Manufacturing Co., Ltd., Boca Bearings, Inc., GMN Bearing USA Ltd. and JTEKT Corporation.

Report Scope:

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