The North America miniature ball bearing market reached a value of US$ 388 Million in 2019. Miniature ball bearings, also known as small ball bearings, are machined bearings with an outer diameter of 22mm or less. These include various components, such as inner ring, outer ring, shields, snap rings, retainers, and balls. Miniature ball bearings are designed for handling payloads and reducing friction to make heavyweights to be relocated easily. These bearings can be mainly divided into two types – open and dust cover miniature ball bearings. Miniature ball bearings are beneficial in several applications, including automotive, electrical and medical devices, where there is an availability of partial or limited space.
The North America miniature ball bearing market is driven by several factors. The rising utilization of miniature ball bearings in personal computers, automotive components, power tools, air conditioners, and printers, has propelled the market growth in the region. In addition to this, with rapid technological advancements, such as implementing 3D printing technology for producing ball bearings, have also catalyzed the demand. Apart from this, development in major end-use industries in the region, including aerospace, medical, and robotics has further added to the market growth. Besides this, the growth is anticipated to be sustained by well-established manufacturing infrastructure and increasing investment in R&D activities by manufacturers. Looking forward, IMARC Group expects the market to reach a value of US$ 553 Million by 2025, registering a CAGR of 6.1% during 2020-2025.
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