Ceramic Ball Bearings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Ceramic Ball Bearings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global ceramic ball bearings market size reached US$ 1,202.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,903.7 Million by 2028, exhibiting a growth rate (CAGR) of 8.18% during 2023-2028.

Ceramic ball bearings are currently gaining traction around the world as they are superior and more durable than stainless-steel bearings in various aspects. Ceramic ball bearings require less energy owing to their high speed that aids in reducing friction. Moreover, they also offer high dimensional stability; have smoother and rounder surfaces; and provide the low density and optimum resistance against heat and corrosion. Owing to these advantages offered by ceramic ball bearings, they are widely replacing conventional ball bearings in various applications. Nowadays, hybrid ceramic ball bearings are available in different sizes, specifically designed as per the requirement of the industry to minimize the risk of costly repairs and reduce operating costs.

Ceramic ball bearings are significantly lighter and harder compared to their metal counterparts. They do not rust and can self-lubricate and operate at faster speeds. Also, these ball bearings can tolerate intense physical impact and perform exceptionally well when subjected to harsh conditions such as in high corrosion environments, lack of lubrication and elevated temperatures. Other than this, they have excellent electrical insulation properties, which lessen the menace of electrical erosion and seizure of the rolling elements. Owing to this, these bearings are widely employed in passenger cars, commercial vehicles and numerous automobile components. Besides this, manufacturers have improved the performance of ball bearings by using the advanced seal, lightweight materials and lubrication technologies. These advancements have created vast opportunities for the leading players operating in the industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global ceramic ball bearings market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on raw material, product type and application.

Breakup by Raw Material:

Zirconium Oxide
Silicon Nitride
Others

Ceramic Ball bearings made from zirconium oxide currently exhibits a clear dominance in the market as they have a low-density, and better strength and toughness as compared to the ball bearings made from other materials.

Breakup by Product Type:

Hybrid Ceramic Ball Bearings
Full Ceramic Ball Bearings

At present, hybrid ceramic ball bearings represent the most preferred product type owing to their availability in a variety of styles and sizes, such as angular contact bearings, radial bearings and insert bearings.

Breakup by Application:

Electric Motor
Automobile
Under Water Equipment
Laboratory Equipment
Aerospace
Others

Electric motors represent the largest application segment, accounting for majority of the total global market. This can be accredited to several advantages offered by ceramic ball bearings, which include better acceleration capability, lower friction, improved wear-resistance and higher speed.

Regional Insights:

United States
China
Europe
Japan
India
South East Asia

On the geographical front, the United States enjoys the leading position in the market since there is an increasing trend of rebounding productions of motor vehicles and a healthy fixed investment environment in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of the leading players are:

AB SKF
NSK Ltd.
NTN Corporation
Ortech Incorporated
CeramicSpeed
Shanghai Lily Bearing Manufacturing Co., Ltd.
Boca Bearings, Inc.
GMN Bearing USA Ltd.
JTEKT Corporation

Key Questions Answered in This Report:

What was the size of the global ceramic ball bearings market in 2022?
What is the expected growth rate of the global ceramic ball bearings market during 2023-2028?
What are the key factors driving the global ceramic ball bearings market?
What has been the impact of COVID-19 on the global ceramic ball bearings market?
What is the breakup of the global ceramic ball bearings market based on the raw material?
What is the breakup of the global ceramic ball bearings market based on the product type?
What is the breakup of the global ceramic ball bearings market based on the application?
What are the key regions in the global ceramic ball bearings market?
Who are the key players/companies in the global ceramic ball bearings market?