Global Demand for Ball Bearings to Increase Over 5% Annually Through 2022

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Nov 20, 2018, 13:49 ET

CLEVELAND, Nov. 20, 2018 /PRNewswire/ -- Global demand for ball bearings is projected to increase 5.1% per year through 2022 to $40.0 billion, primarily due to increased production of electrical and electronic equipment, machinery, and motor vehicles. These and other trends are presented in Global Bearings, a new study from The Freedonia Group, a Cleveland-based industry research firm.

More information about this study is here: https://www.freedoniagroup.com/industry-study/global-bearings-3684.htm

Ball bearings are expected to remain the leading product type, with 39% of global demand in 2022 because they are:

less expensive than cylinders
widely used in an array of inexpensive products with no replacement demand

However, ball bearings have less load-bearing capacity than other products because balls tend to deform more easily than cylinders when under a heavy load. As a result, a significant portion of ball bearing demand is for inexpensive, commodity-type products, limiting overall sales gains due to intense price competition in many markets.

Global demand for all types of bearings is forecast to rise 5.0% per year to $103 billion in 2022, representing an improvement from the pace of the 2012-2017 period. Ongoing advances in the production of machinery and motor vehicles, by far the two largest bearing markets, will continue to drive demand gains. Preferences among end users for higher quality bearings that offer better performance and can operate longer will also promote gains.

Global Bearings (published 11/2018, 330 pages) is available for $6600 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/World-Bearings.html

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Industrial Components can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group