According to a market report by Lucintel, the future of the ball bearing market looks promising with opportunities in the automotive, industrial machinery, mining and construction, medical, railways, aerospace, shipping, and agriculture markets. The global ball bearing market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are rising demand for ball bearings based on various industry requirements and rising demand for electric vehicles due to rising environmental concerns.
Deep groove ball bearings, angular contact ball bearings, self-aligning ball bearing, and thrust ball bearing are the major segments of ball bearing market by product type. Lucintel forecasts that self aligning ball bearing is expected to be the fastest growing segment over the forecast period due to high demand from the application such as machine tools.
Within this market, automotive is expected to remain the largest segment due to rising sales of electric vehicles.
Asia Pacific will remain the largest region due to increasing technological innovations and expanding construction & automotive sector.
NTN Bearing Corporation, Timken, SKF, Schaeffler, Nachi Fujikoshi, NSK, Myonic, LYC Bearing Corporation, THB Bearing, and Luoyang Huigong Bearing Technology are the major suppliers in the global ball bearing market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global ball bearing market by product type, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Ball Bearing Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global ball bearing market by product type, application, and region, as follows:
Ball Bearing Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Deep Groove Ball Bearing
· Angular Contact Ball Bearing
· Self Aligning Ball Bearing
· Thrust Ball Bearing
· Others
Ball Bearing Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· Automotive
· Industrial Machinery
· Mining and Construction
· Medical
· Railways, Aerospace, and Shipping
· Agriculture
· Others
Ball Bearing Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Ball Bearing Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the ball bearing market by product type (deep groove ball bearings, angular contact ball bearings, self-aligning ball bearing, thrust ball bearing, and others), application (automotive, industrial machinery, mining and construction, medical, railways, aerospace & shipping, agriculture, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?