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Comprehensive 2025 Ball Bearing Market Overview: Trends, Forecasts, and Growth Drivers
Ball Bearing Market
What Is the Expected CAGR for the Ball Bearing Market Through 2025?
The expansion of the ball bearing market has been robust in the past few years, escalating from $41.8 billion in 2024 to a projected $43.96 billion in 2025. This signifies a compound annual growth rate (CAGR) of 5.2%. Factors such as industrialization, the rise of the automotive and aerospace industries, globalization, and advancements in the energy sector have significantly contributed to the historical growth.
What's the Projected Size of the Global Ball Bearing Market by 2029?
In the upcoming years, the ball bearing market size is anticipated to witness significant expansion and is projected to reach $55.84 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. Factors contributing to the growth in the forecast period include emphasis on sustainability, trend of miniaturization, resilience of the supply chain, demand for customization, and predictive maintenance. The forecast period will be characterized by the prevalence of trends like smart manufacturing and Industry 4.0, concern for sustainability and the environment, advancements in material technology, and increased attention to maintenance and reliability.
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Top Growth Drivers in the Ball Bearing Industry: What's Accelerating the Market?
The anticipated surge in electric vehicles (EVs) usage is predicted to drive the expansion of the ball bearing market. EVs, partially or wholly running on electricity, are becoming increasingly popular. The rising EV population fuels the demand for ball bearings, which enhance vehicle efficiency and minimize tire friction, facilitating smoother vehicle movement with less power. For example, the France-based International Energy Agency reported that electric vehicle sales reached 10 million in 2022, with projections for a rise to 14 million by 2023. Therefore, the escalating demand for EVs is propelling the ball bearing market's growth.
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What Trends Will Shape the Ball Bearing Market Through 2029 and Beyond?
The emergence of technological advancements has become a notable trend in the ball bearing market. Major industry players are concentrating their efforts on the development and introduction of new technologies, seeking to achieve a competitive edge. For example, in August 2022, SKF, a bearings and seals producer based in Sweden, revealed their Hybrid deep groove ball bearing. This innovative bearing design combines the advantages of steel and ceramic materials, resulting in superior performance, decreased weight, and improved durability. The hybrid design reduces friction and enhances wear resistance, making it perfectly suited for various demanding applications, specifically in the automotive and aerospace sectors. With this new product, SKF is catering to the increasing demand for efficient and dependable components that can perform under severe operational conditions.
What Are the Main Segments in the 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
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Which Top Companies are Driving Growth in the Ball Bearing Market?
Major companies operating 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 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
Which Regions Will Dominate the Ball Bearing Market Through 2029?
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.
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