ball bearing market report
The global ball bearing market size is expected to reach a value of US$ 50.7 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, October 31, 2022 /
EINPresswire.com/ -- According to IMARC Group latest published report, the global
ball bearing market size reached US$ 39.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 50.7 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
A ball bearing represents a rolling element comprising two ring-like tracks with small rotating metal balls. It provides a low and smooth friction motion that supports axial and radial loads. A ball bearing is durable and helps in maintaining an appropriate gap between the rotating parts while offering support to obtain the desired motion. In line with this, it assists in facilitating efficient power transmission, supporting weight, ensuring proper alignment of movable components, etc. A ball bearing is extensively used for efficiently transmitting power. As such, it finds wide-ranging applications in the manufacturing of high-speed and rotatory automobile parts, farm and
medical equipment, defense machinery, etc.
Covid-19 Scenario:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
NTN Corporation
Timken
JTEKT
SKF
Schaeffler Group
Download a free sample report to get a detailed overview of the report:
https://www.imarcgroup.com/ball-bearing-market/requestsample
Global Ball Bearing Market Trends:
The growing number of construction activities in the residential and commercial sectors, on account of the inflating income levels of individuals, is primarily driving the ball bearing market. Additionally, the escalating demand for
electric vehicles (EVs), owing to the rising consumer environmental concerns, is further catalyzing the market growth. Besides this, the widespread adoption of ball bearings in windmill farms as they improve the reliability, efficiency, and performance of wind turbines is acting as another significant growth-inducing factor.
Moreover, leading manufacturers are focusing on upgrading the functional capacity of ball bearings at lower costs and enhancing their features, such as reducing weight, decreasing energy consumption, lowering torque, increasing temperature range, strengthening the lifecycle, refining friction resistance, etc., which is positively influencing the global market. Apart from this, the introduction of variants integrated with advanced sensor units that aid in digital monitoring of axial movement, rotation speed, deceleration, acceleration, etc., is anticipated to fuel the ball bearing market over the forecasted period.
Ask Analyst for 10% free customized report:
https://bit.ly/3WlhUPk
The report cover the below key market segments:
By Application:
Automobile
General Engineering
Mining and Construction
Railways, Aerospace and Shipping
Agriculture
Others
By Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Trending Reports (Book Now with 10% Discount + COVID-19 Scenario):
Alternators Market Research Report:
https://bit.ly/3TSeUbc
Diesel Engine Market Research Report:
https://bit.ly/3FwG8zZ
Gas Insulated Switchgear Market Research Report:
https://bit.ly/3FAX1K1
Calibration Services Market Research Report:
https://bit.ly/3TT3iF9
Servo Motors and Drives Market Research Report:
https://bit.ly/3UfwqWV
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
+ +1 6317911145
email us here