Ball Bearings Market Forecasts to 2028 – Global Analysis By Product (Angular Contact Ball Bearings , Axial Ball Bearings), Application (Railways, Aerospace and Shipping, Mining and Construction, Military) and By Geography

Ball Bearings Market Forecasts to 2028 – Global Analysis By Product (Angular Contact Ball Bearings , Axial Ball Bearings), Application (Railways, Aerospace and Shipping, Mining and Construction, Military) and By Geography

According to Stratistics MRC, the Global Ball Bearings Market is accounted for $20.67 billion in 2021 and is expected to reach $27.39 billion by 2028 growing at a CAGR of 4.1% during the forecast period. A ball bearing is a type of rolling-element bearing that uses balls to maintain the separation between the bearing races. The purpose of a ball bearing is to reduce rotational friction and support radial and axial loads. It achieves this by using at least two races to contain the balls and transmit the loads through the balls.

Market Dynamics:

Driver:

Increasing demand for precision engineering across several industries

Precision engineering is concerned with designing components, fixtures, and machines that have a tremendously low tolerance and are stable over time in case of extreme working conditions. The growing demand for precision engineering owing to the rapid rise in the utilization of customized bearings is expected to result in the growth of the market revenue. Moreover, the manufacturers are emphasizing the development and manufacturing of precision bearings for power trains and drive parts of artificial satellites, etc., to surge the entire ecosystem

Restraint:

Fluctuation of raw material cost

The variations in trade policies, inequity in the supply & demand ecosystem, variations in foreign exchange rates, heightened geopolitical risks across different geographies, etc. create a potential impact on the pricing of steel and aluminum bearing materials. Furthermore, the bearing components which comprise cages, shields, seals, etc. require lubrication at frequent intervals to ensure smooth functioning and low friction. This further leads to a high cost of maintenance resulting in slowing down the market.

Opportunity:

Advancement of digitalization and smart technologies

Digitalization is one of the important approaches to adopting wireless options across industry verticals. The bearing is digitized by measuring its lubrication state and vibration pattern. These extents are evaluated to take corrective actions in case of potential problems. For industrial applications, the sensor measures the direction, temperature, speed, and vibration of these bearings. Also, the introduction of real-time-enabled Internet of Things (IoT) and Artificial intelligence (AI) is benefitting the end-users to simply track the conditions of their bearings at all times. Moreover, the technological shift towards (EV) Electric Vehicles is found to be positive. It is because; the electric vehicles have bearings with advanced technology than the traditional car with an Internal Combustion (IC) engine.

Threat:

Shock loads

Ball bearings have a higher load rating and can cope with shock loads. Thus, it is noisier at very high speeds and low resistance to shock loading. Additionally, design of ball bearing housing complicated regular maintenance cost hinders the growth of market, globally.

Deep-Groove Ball Bearings segment is expected to be the largest during the forecast period

Deep-Groove Ball Bearings segment is expected to be the largest during the forecast period, as their simplicity, design, low-operating temperature, and low friction features are increasing their adoption in a wide range of end-users including automotive and electronics among others. Deep groove ball bearings' capacity to carry axial and radial loads with great durability and low maintenance time helps them in gaining traction in agriculture, rail, and aerospace applications.

The Automotive segment is expected to have the highest CAGR during the forecast period

The Automotive segment held the largest market share. The segment growth is accredited to growing vehicle sales along with increasing demand for automotive moving parts, which required ball bearings to function. Ball bearings are widely used in doors, wipers, bonnet hinges, and rear mirrors for the smooth functions and performance of the vehicle. The growing production of vehicles is boosting the market growth for this segment.

Region with highest share:

The Asia Pacific is projected to hold the highest market share; the region’s growth is attributed to the rise of the automotive sector in several economies such as China, India, Japan, and South Korea. The province accounted for more than half of the overall demand for bearings. Car purchases are increasing in several developing countries, including India, Indonesia, and Thailand, which is expected to help to improve the regional economy.

Region with highest CAGR:

North America is projected to have the highest CAGR; the province’s growth is attributed to the rising adoption of the product in several industries, such as automotive, light and heavy industrial machines and equipment aerospace & defense, and construction industry. Several massive projects have recently been undertaken and are nearing completion. For instance, the California High-Speed Rail Project (US$ 77 billion), Sound Transit 3 (US$ 54 billion), and the Las Vegas Convention Center (US$ 52.5 billion) are undergoing projects in the US, which is expected to increase the substantial use of ball bearing product during the forecast period.

Key players in the market:

Some of the key players profiled in the Ball Bearings Market include AST Corporation, Federal-Mogul Corporation, Graham Corporation, Ingersoll Rand, JTEKT Corporation, LYC Bearing, MinebeaMitsumi, Nachi Fujikoshi, NSK Ltd, NTN Corporation, RBC Bearings, Schaeffler Technologies AG & Co. KG, SKF Company, Spyraflo, Inc, The Timken Company.

Key developments:

In September 2018: SKF launched its Ball Bearing Units-UC range in India, to cater to the increasing market demand. The product is cost-efficient meeting international standard quality and locally manufactured.

In November 2017: Schaeffler AG partnered with Audi, and has started to develop the technology, primarily in fields of transmission, engine, bearings, and others to increase the performance density in Formula E. Schaeffler has been developing drive trains for “Formula E” together with Audi since 2017.

Products Covered:
• Axial Ball Bearings
• Deep-Groove Ball Bearings
• Self-Aligning Ball Bearings

Applications Covered:
• Railways, Aerospace and Shipping
• Mining and Construction
• Military
• Heavy industry
• General Engineering
• Automotive
• Automobile
• Agriculture
• Aerospace Engineering

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Products Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Ball Bearings Market, By Product
5.1 Introduction
5.2 Angular Contact Ball Bearings
5.3 Axial Ball Bearings
5.4 Deep-Groove Ball Bearings
5.5 Self-Aligning Ball Bearings
6 Global Ball Bearings Market, By Application
6.1 Introduction
6.2 Railways, Aerospace and Shipping
6.3 Mining and Construction
6.4 Military
6.5 Heavy industry
6.6 General Engineering
6.7 Automotive
6.8 Automobile
6.9 Agriculture
6.10 Aerospace Engineering
7 Global Ball Bearings Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 AST Corporation
9.2 Federal-Mogul Corporation
9.3 Graham Corporation
9.4 Ingersoll Rand
9.5 JTEKT Corporation
9.6 LYC Bearing
9.7 MinebeaMitsumi
9.8 Nachi Fujikoshi
9.9 NSK Ltd
9.10 NTN Corporation
9.11 RBC Bearings
9.12 Schaeffler Technologies AG & Co. KG
9.13 SKF Company
9.14 Spyraflo, Inc
9.15 The Timken Company
List of Tables
Table 1 Global Ball Bearings Market Outlook, By Region (2020-2028) (US $MN)
Table 2 Global Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 3 Global Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 4 Global Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 5 Global Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 6 Global Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 7 Global Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 8 Global Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 9 Global Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 10 Global Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 11 Global Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 12 Global Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 13 Global Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 14 Global Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 15 Global Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 16 Global Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)
Table17 North America Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)
Table 18 North America Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 19 North America Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 20 North America Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 21 North America Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 22 North America Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 23 North America Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 24 North America Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 25 North America Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 26 North America Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 27 North America Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 28 North America Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 29 North America Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 30 North America Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 31 North America Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 32 North America Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)
Table 33 Europe Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)
Table 34 Europe Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 35 Europe Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 36 Europe Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 37 Europe Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 38 Europe Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 39 Europe Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 40 Europe Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 41 Europe Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 42 Europe Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 43 Europe Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 44 Europe Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 45 Europe Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 46 Europe Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 47 Europe Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 48 Europe Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)
Table 49 Asia Pacific Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)
Table 50 Asia Pacific Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 51 Asia Pacific Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 52 Asia Pacific Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 53 Asia Pacific Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 54 Asia Pacific Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 55 Asia Pacific Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 56 Asia Pacific Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 57 Asia Pacific Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 58 Asia Pacific Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 59 Asia Pacific Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 60 Asia Pacific Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 61 Asia Pacific Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 62 Asia Pacific Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 63 Asia Pacific Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 64 Asia Pacific Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)
Table 65 South America Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)
Table 66 South America Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 67 South America Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 68 South America Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 69 South America Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 70 South America Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 71 South America Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 72 South America Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 73 South America Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 74 South America Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 75 South America Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 76 South America Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 77 South America Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 78 South America Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 79 South America Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 80 South America Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)
Table 81 Middle East & Africa Ball Bearings Market Outlook, By Country (2020-2028) (US $MN)
Table 82 Middle East & Africa Ball Bearings Market Outlook, By Product (2020-2028) (US $MN)
Table 83 Middle East & Africa Ball Bearings Market Outlook, By Angular Contact Ball Bearings (2020-2028) (US $MN)
Table 84 Middle East & Africa Ball Bearings Market Outlook, By Axial Ball Bearings (2020-2028) (US $MN)
Table 85 Middle East & Africa Ball Bearings Market Outlook, By Deep-Groove Ball Bearings (2020-2028) (US $MN)
Table 86 Middle East & Africa Ball Bearings Market Outlook, By Self-Aligning Ball Bearings (2020-2028) (US $MN)
Table 87 Middle East & Africa Ball Bearings Market Outlook, By Application (2020-2028) (US $MN)
Table 88 Middle East & Africa Ball Bearings Market Outlook, By Railways, Aerospace and Shipping (2020-2028) (US $MN)
Table 89 Middle East & Africa Ball Bearings Market Outlook, By Mining and Construction (2020-2028) (US $MN)
Table 90 Middle East & Africa Ball Bearings Market Outlook, By Military (2020-2028) (US $MN)
Table 91 Middle East & Africa Ball Bearings Market Outlook, By Heavy industry (2020-2028) (US $MN)
Table 92 Middle East & Africa Ball Bearings Market Outlook, By General Engineering (2020-2028) (US $MN)
Table 93 Middle East & Africa Ball Bearings Market Outlook, By Automotive (2020-2028) (US $MN)
Table 94 Middle East & Africa Ball Bearings Market Outlook, By Automobile (2020-2028) (US $MN)
Table 95 Middle East & Africa Ball Bearings Market Outlook, By Agriculture (2020-2028) (US $MN)
Table 96 Middle East & Africa Ball Bearings Market Outlook, By Aerospace Engineering (2020-2028) (US $MN)

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