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The global miniature ball bearing market reached a value of US$ 1.66 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% 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.
Miniature ball bearing, also known as instrument bearing, is a machinery component which helps in eliminating rotational friction by supporting axis loads. It consists of an outer ring, inner ring, shields, snap rings and retainers. A miniature ball bearing has its bearing with outer diameter of 22mm or less. The objective of a miniature ball bearing is to aid in determining the rotational accuracy. Apart from this, miniature ball bearing is used in a variety of applications like electrical, medical devices, automotive, etc.
Miniature ball bearings are used in the automotive sector for manufacturing mechanical components like fan motors, wiper motors, throttle bodies, etc. Rising demand for automotive components is, therefore directly proportional to the demand for miniature ball bearings. This acts as one of the primary factors propelling the growth of the miniature ball bearing market. In addition, the market for industrial robotics is encountering a remarkable demand from the automotive, electronics and electrical sector. Moreover, rapid urbanisation and industrialisation, and elevated disposable incomes of the consumers represent other factors facilitating the demand for miniature ball bearings.
IMARC Group provides an analysis of the key trends in each sub-segment of the global miniature ball bearing market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on type and application,
Breakup by Type:
Based on type, the market has been segmented as open miniature ball bearings, dust cover miniature ball bearings and others (flanged outer, extended inner). Currently, dust cover miniature ball bearings dominate the market with the largest share.
Breakup by Application:
On the basis of application, automotive represents the largest segment, followed by industrial, aerospace, household electrical appliances, medical, robotics and others.
Breakup by Region:
Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the leading market, accounting for the majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being Minebea Mitsumi Inc, NSK Ltd., Kitanihon Seiki Co. Ltd., CW Bearing Gmbh and GRW Bearing Gmbh.
This report provides a deep insight into the global miniature 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 miniature ball bearing industry in any manner.
|Base Year of the Analysis||2020|
|Units||Million Units, US$ Billion|
|Segment Coverage||Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Minebea Mitsumi Inc, NSK Ltd., Kitanihon Seiki Co. Ltd., CW Bearing Gmbh and GRW Bearing Gmbh.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License $ 2299
Five User License $ 3399
Corporate License $ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global miniature ball bearing market was valued at US$ 1.66 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous end-use industries for miniature ball bearing.
Rapid industrialization, coupled with the increasing adoption of mechanical components across diverse sectors, represents some of the key factors driving the global miniature ball bearing market.
Based on the type, the global miniature ball bearing market has been bifurcated into open miniature ball bearings, dust cover miniature ball bearings, and others (flanged outer, extended inner). Currently, dust cover miniature ball bearings exhibit a clear dominance in the market.
Based on the application, the global miniature ball bearing market can be divided into automotive, industrial, aerospace, household electrical appliances, medical, robotics and others. Among these applications, the automotive sector accounts for the largest segment.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global miniature ball bearing market include Minebea Mitsumi Inc, NSK Ltd., Kitanihon Seiki Co. Ltd., CW Bearing Gmbh, and GRW Bearing Gmbh.
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