Ball Bearing Market Future Scope & Leading Companies | NSK Ltd, Nachi-Fujikoshi Corp, myonic GmbH, LYC Bearing Corporation, Luoyang Huigong Bearing Technology Co., Ltd., Koyo, ISB Industries, NTN Bearing Corporation, SKF

The overall ball bearing market is expected to grow from USD 18.41 Billion in 2018 to USD 25.73 Billion by 2026 at a CAGR of 4.29% during the forecast period. The global ball bearing market is likely to derive growth from the rising demand from mining and construction sector, owing to the high demand for ball bearings. This information was published in a report by Fortune Business Insights, titled "Ball Bearing Market Size, Share and Global Trend By Product Type (Self-Aligning Ball Bearings, Deep Groove Ball Bearings, Angular Contact Ball Bearings, Others), By Application (Automotive, Industrial Machinery, Mining & Construction, Medical, Others), and Geography Forecast till 2026".

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Ball bearings are used in heavy machinery and industrial equipment to minimize friction between two surfaces of the machines. The ability of ball bearings to increase power efficiency and enhance the overall performance of industrial equipment have contributed to the increasing demand for ball bearings across the world. Furthermore, the advances in ball bearing designs have contributed to the availability of several product variations.

Fortune Business Insights has predicted that the flexibility in the design of ball bearings and application-oriented products will directly contribute to the growth of the global ball bearings market in the forthcoming years. The report encompasses several factors that have contributed to an increase in the global ball bearings market size in recent years. Additionally, the report highlights a few of the major product launches of recent times and gauges the impact of these products on the global market.

List of the leading companies in ball bearing market are:

NSK Ltd
Nachi-Fujikoshi Corp
Myonic GmbH
LYC Bearing Corporation
Luoyang Huigong Bearing Technology Co. Ltd.
Koyo
ISB Industries
NTN Bearing Corporation
SKF
The Timken Company
THB Bearings

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"Increasing Number of Product Launches Will Provide Foundation for Growth"

Ball bearings have found several applications in industries across a diversified domain. The requirements of companies differ significantly and a result there is a massive ball bearing market potential for the manufacturing companies. In a bid to suffice modern industrial needs, there has been an increase in the number of product launches across the world. Fortune Business Insights has identified increasing product launches as one of the major ball bearing market growth stimulators in recent years.

In 2018, SKF announced the launch of its ball bearing UC range in India. Encouraged by the high product demand in several regions across the Asia Pacific, SKF announced the launch of its latest range of products in India, with the aim of generating substantial ball bearing market revenue. Fortune Business Insights has predicted that the company may expand in several countries across the Asia Pacific, which in turn will aid the growth of the global ball bearings market in the coming years.

"Rapid Industrialization to Create Lucrative Growth Opportunities"

The demand for ball bearings has risen considerably due to the rapid industrialization in several regions across the world. As a result, existing companies are focused on extending businesses by initiating marketing strategies overseas as well as expanding companies in other countries. To enhance and expand business operations, companies are adopting exceptional business strategies. The increasing mergers and acquisitions and company collaborations have benefited the ball bearing industry in recent years.

In 2017, Schaeffler Group announced the merger of its three subsidiaries in India in a bid to reduce operational complexity and build a strong platform for future growth. With this merger, the company aims to generate significant ball bearing market revenue in the coming years. The report provides a detailed analysis of the notable company mergers and acquisitions that have taken place in recent years and gauges the impact of these activities on the global ball bearing market growth.

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