Ball Bearing Manufacturing in Canada - Industry Market Research Report

Ball Bearing Manufacturing in Canada - Industry Market Research Report

Ball Bearing Manufacturing in Canada

The Canadian ball bearing manufacturing industry exhibited weak performance through the end of 2023. The industry manufactures ball and roller bearings, which reduce friction and control motion between two or more rotating parts. Bearings are needed for the manufacturing of vehicles in the transportation, defence and aerospace sectors and for the manufacturing of other equipment with rotating parts. The industry depends on demand from a variety of manufacturing markets. Weak activity from these downstream industries, especially amid the COVID-19 pandemic and strong competitive pressures from imports have hindered the growth of the industry. Ball bearing manufacturing revenue has plunged at a CAGR of 4.7% over the past five years and is expected to total $518.8 million in 2023, when revenue will fall by an estimated 3.6%. Despite overall revenue declining, profit has increased due to reduced purchase expenses.

This industry manufactures ball bearings and roller bearings, which are small machines that constrain motion and reduce friction between moving parts of vehicles and other equipment. Major markets include the transportation, defence, aerospace and energy sectors. This industry does not manufacture plain (nonball and nonroller) bearings.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.