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Global Ball Bearing Market 2023 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | NTN Bearing Corporation, The Timken Company, Schaeffler AG, Jtekt Corporation, SKF AB
Ball Bearing Market
Ball Bearing Market Size, Growth Rate, And Forecast
The global ball bearing market size is expected to grow from $37.8 billion in 2022 to $40.23 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ball bearing market size is expected to grow to $49.26 billion in 2027 at a CAGR of 5.2%.
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Ball Bearing Market Drivers
Growing demand for electric vehicles (EVs) is expected to propel the growth of the ball-bearing market going forward. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing population of electric vehicles drives the demand for ball bearings because ball bearings improve vehicle performance, and are used to reduce friction among tires.
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Ball Bearing Market Segments
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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Ball Bearing market.
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Ball Bearing Market Key Players
Major players in the ball bearing market are 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, Koyo Bearings, THB Bearings, Federal Moghul Holding Corporation, and THK Company.
The Business Research Company's "Global Ball Bearing Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Ball Bearing Market Include:
1. Executive Summary
2. Ball Bearing Market Characteristics
3. Ball Bearing Market Trends And Strategies
4. Ball Bearing Market - Macro Economic Scenario
5. Ball Bearing Market Size And Growth
……
27. Ball Bearing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ball Bearing Market
29. Ball Bearing Market Future Outlook and Potential Analysis
30. Appendix
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