What is the Historic and Current Scenario of the Ball Bearing Market?
The ball bearing market has seen considerable growth due to a variety of factors.
• The market size of ball bearings has witnessed robust expansion in the past few years. It is projected to escalate from $41.8 billion in 2024 to $43.96 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 5.2%. The surge during the historic phase could be credited to factors such as industrialization, expansion of the automotive sector, increased demand in the aerospace industry, globalization, and growth of the energy sector.
How Does the Forecast Look for the Ball Bearing Market?
The Ball Bearing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of ball bearings is anticipated to experience robust growth, reaching a staggering $55.84 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.2%.
This growth during the forecast period is primarily driven by sustainability concerns, miniaturization trends, resilient supply chains, demand for customization, and predictive maintenance. During the forecast period, prominent trends such as smart manufacturing and industry 4.0, sustainability and environmental considerations, advancements in material technology, and a heightened focus on maintenance and reliability are expected to shape the market.
What Are The Leading Drivers Of Growth In The Ball Bearing Market?
The increase in electric vehicles (EVs) usage is set to fuel the expansion of the ball bearing market. Electric vehicles, which are either entirely or partially powered by electricity, are becoming more common. This surge in electric vehicles necessitates ball bearings as they elevate performance and are instrumental in reducing friction between tires, facilitating smoother vehicular movement requiring lesser energy. For example, per the International Energy Agency, a France-based intergovernmental establishment, the sales for electric vehicles for 2022 were 10 million. It is projected to rise to 14 million in 2023. Consequently, the burgeoning demand for electric vehicles (EVs) is guiding the growth of the ball bearing market.
How Are The Segments Defined Within The Global Ball Bearing Market?
The ball bearing market covered in this report is segmented –
1) By Type: Self-Aligning Bearing, Deep Grove Ball Bearing, Angular Contact Ball Bearing, Other Types
2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Two - Wheelers
3) By Distribution Channel: Original Equipment Manufacturers (OEMs), Aftermarket
4) By Application: Automotive, Industrial Machinery, Mining And Construction, Medical, Others Applications
Subsegments:
1) By Self-Aligning Bearing: Spherical Roller Bearings, Self-Aligning Ball Bearings
2) By Deep Groove Ball Bearing: Single Row Deep Groove Ball Bearings, Double Row Deep Groove Ball Bearings
3) By Angular Contact Ball Bearing: Single Row Angular Contact Ball Bearings, Double Row Angular Contact Ball Bearings, Four-Point Contact Ball Bearings
4) By Other Types: Thrust Ball Bearings, Miniature Ball Bearings, Hybrid Ball Bearings
Pre-Book The Ball Bearing Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Expected To Influence The Growth Of The Ball Bearing Market?
The rising popularity of technological advancements is a significant trend in the ball bearing market. The overall emphasis among the key industry players is the incorporation of novel technologies to maintain a competitive edge. For example, SKF, a bearing and seal manufacturer in Sweden, launched a Hybrid deep groove ball bearing in August 2022. This innovative bearing design merges the advantages of both steel and ceramic materials, providing improved performance, less weight, and more durability. The hybrid construction presents decreased friction and better resistance to wear, making it well-suited for demanding applications across different sectors, such as automotive and aerospace. SKF's goal with this launch is to cater to the increasing need for efficient, dependable components capable of handling severe operational conditions.
Who Are the Key Players In The Ball Bearing Market?
Major companies operating in the ball bearing market include:
• NTN Bearing Corporation
• The Timken Company
• Schaeffler AG
• Jtekt Corporation
• SKF AB
• LYC Bearing Corporation
• NSK Ltd.
• Nachi Fujikoshi Corp.
• Myonic GmbH
• Luoyang Huigong Bearing Technology Co. Ltd.
• ISB Industries Pvt. Ltd.
• THB Bearings Co. Ltd.
• Federal Moghul Holding Corporation
• THK Company
• Brammer PLC
• Harbin Bearing Manufacturing Co. Ltd.
• HKT Bearings Ltd.
• NBI Bearings Europe SA
• RBC Bearings Inc.
• Rexnord Corporation
• RHP Bearings Europe Ltd.
• MinebeaMitsumi Inc.
• AST Bearings LLC
• New Hampshire Ball Bearings Inc.
• Precision Bearings Pvt. Ltd.
• C&U Group Co. Ltd.
• CW Bearing USA Inc.
• General Bearing Corporation
• Kinex Bearings AS
• NKE Austria GmbH
• RKB Europe SA
• Sapporo Precision Inc.
• Shanghai Shi Kun Bearing Co. Ltd.
• Sven Wingquist AB
• TMB Bearings Group Co. Ltd.
• Wafangdian Bearing Group Corp. Ltd.
• Zhejiang Tianma Bearing Co. Ltd.
• ZVL Slovakia AS
What Is The Most Dominant Region In The Ball Bearing Market?
Asia-Pacific was the largest region in the ball bearing market in 2024. The regions covered in the ball bearing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
