Technavio expects the market to observe an incremental growth of USD 4.12 billion between 2020 and 2025. The market observed a YOY growth of 0.77% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3.43% during the forecast period.
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Key Market Dynamics:
The rising demand for wind power generation is one of the key factors driving the growth of the market. The growing need for reducing carbon emissions has increased the adoption of sustainable energy solutions across the world. This has resulted in an increase in the number of wind turbine installations and windmill farms globally. All these factors are consequently creating a significant demand for ball bearings, thereby driving the growth of the market.
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The ball bearings market report is segmented by product (deep groove, angular contact, self-aligning, and others), end-user (automotive industry, heavy industry, aerospace and railway industry, and others), and geography (APAC, Europe, North America, South America, and MEA).
By product, the demand for deep groove ball bearings was significant in 2021. The growth of the segment can be attributed to the increased demand for deep groove ball bearings in industries such as steel, mining and construction, and papermaking and machinery. Similarly, by end-users, the automotive industry will exhibit high demand for ball bearings during the forecast period. The increasing investment in the development of electric vehicles (EVs) will positively influence the growth of the segment.
APAC will be the leading region with 60% of the market's growth during the forecast period. The presence of prominent automotive OEMs in the region is creating huge growth opportunities for market players. In addition, the increased sales of passenger vehicles in emerging economies such as China and India are fostering the growth of the regional market.
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Some Companies Mentioned with their Offerings
- AB SKF: The company offers ball bearings Products such as deep groove ball bearings, angular contact ball bearings, and self-aligning ball bearings.
- Harbin Bearing Manufacturing Co. Ltd.: The company offers ball bearings Products such as deep groove ball bearings, angular contact ball bearings, and self-aligning ball bearings.
- JTEKT Corp.: The company offers ball bearings products such as deep groove ball bearings, angular contact ball bearings, and thrust ball bearings.
- Luoyang Huigong Bearing Technology Co. Ltd.: The company offers ball bearings products such as deep groove ball bearings, angular contact ball bearings, and four-point contact ball bearings.
- LYC Bearing Corp.: The company offers ball bearings products such as deep groove ball bearings and angular contact ball bearings.
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Related Reports:
Ball Bearings Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.43% |
Market growth 2021-2025 |
USD 4.12 billion |
Market structure |
Fragmented |
YoY growth (%) |
0.77 |
Regional analysis |
APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 60% |
Key consumer countries |
China, US, Japan, Germany, UK, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
AB SKF, Harbin Bearing Manufacturing Co. Ltd., JTEKT Corp., Luoyang Huigong Bearing Technology Co. Ltd., LYC Bearing Corp., MinebeaMitsumi Inc., NSK Ltd., NTN Corp., Schaeffler AG, and The Timken Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- 2.2 Market characteristics
- Exhibit 02: Market characteristics
- 2.3 Value chain analysis
- Exhibit 03: Value chain analysis – Industrial machinery
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.2 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.3 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.4 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.5 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.6 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Deep groove - Market size and forecast 2020-2025
- Exhibit 17: Deep groove - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Deep groove - Year-over-year growth 2020-2025 (%)
- 5.4 Angular contact - Market size and forecast 2020-2025
- Exhibit 19: Angular contact - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Angular contact - Year-over-year growth 2020-2025 (%)
- 5.5 Self-aligning - Market size and forecast 2020-2025
- Exhibit 21: Self-aligning - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Self-aligning - Year-over-year growth 2020-2025 (%)
- 5.6 Others - Market size and forecast 2020-2025
- Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
- 5.7 Market opportunity by Product
- Exhibit 25: Market opportunity by Product
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 26: End user - Market share 2020-2025 (%)
- 6.2 Comparison by End user
- Exhibit 27: Comparison by End user
- 6.3 Automotive industry - Market size and forecast 2020-2025
- Exhibit 28: Automotive industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 29: Automotive industry - Year-over-year growth 2020-2025 (%)
- 6.4 Heavy industry - Market size and forecast 2020-2025
- Exhibit 30: Heavy industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: Heavy industry - Year-over-year growth 2020-2025 (%)
- 6.5 Aerospace and railway industry - Market size and forecast 2020-2025
- Exhibit 32: Aerospace and railway industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 33: Aerospace and railway industry - Year-over-year growth 2020-2025 (%)
- 6.6 Others - Market size and forecast 2020-2025
- 6.7 Market opportunity by End user
- Exhibit 36: Market opportunity by End user
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 38: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 39: Geographic comparison
- 8.3 APAC - Market size and forecast 2020-2025
- Exhibit 40: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: APAC - Year-over-year growth 2020-2025 (%)
- 8.4 Europe - Market size and forecast 2020-2025
- Exhibit 42: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 43: Europe - Year-over-year growth 2020-2025 (%)
- 8.5 North America - Market size and forecast 2020-2025
- Exhibit 44: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 45: North America - Year-over-year growth 2020-2025 (%)
- 8.6 South America - Market size and forecast 2020-2025
- Exhibit 46: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 47: South America - Year-over-year growth 2020-2025 (%)
- 8.7 MEA - Market size and forecast 2020-2025
- Exhibit 48: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 49: MEA - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 50: Key leading countries
- 8.9 Market opportunity by geography
- Exhibit 51: Market opportunity by geography ($ million)
9 Drivers, Challenges, and Trends
- 9.2 Market challenges
- Exhibit 52: Impact of drivers and challenges
10 Vendor Landscape
- 10.1 Overview
- Exhibit 53: Vendor landscape
- 10.2 Landscape disruption
- Exhibit 54: Landscape disruption
- Exhibit 55: Industry risks
- 10.3 Competitive scenario
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 56: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 57: Market positioning of vendors
- 11.3 AB SKF
- Exhibit 58: AB SKF - Overview
- Exhibit 59: AB SKF - Business segments
- Exhibit 60: AB SKF - Key news
- Exhibit 61: AB SKF - Key offerings
- Exhibit 62: AB SKF - Segment focus
- 11.4 Harbin Bearing Manufacturing Co. Ltd.
- Exhibit 63: Harbin Bearing Manufacturing Co. Ltd. - Overview
- Exhibit 64: Harbin Bearing Manufacturing Co. Ltd. - Product and service
- Exhibit 65: Harbin Bearing Manufacturing Co. Ltd. - Key offerings
- 11.5 JTEKT Corp.
- Exhibit 66: JTEKT Corp. - Overview
- Exhibit 67: JTEKT Corp. - Business segments
- Exhibit 68: JTEKT Corp. - Key offerings
- Exhibit 69: JTEKT Corp. - Segment focus
- 11.6 Luoyang Huigong Bearing Technology Co. Ltd.
- Exhibit 70: Luoyang Huigong Bearing Technology Co. Ltd. - Overview
- Exhibit 71: Luoyang Huigong Bearing Technology Co. Ltd. - Product and service
- Exhibit 72: Luoyang Huigong Bearing Technology Co. Ltd. - Key offerings
- 11.7 LYC Bearing Corp.
- Exhibit 73: LYC Bearing Corp. - Overview
- Exhibit 74: LYC Bearing Corp. - Product and service
- Exhibit 75: LYC Bearing Corp. - Key offerings
- 11.8 MinebeaMitsumi Inc.
- Exhibit 76: MinebeaMitsumi Inc. - Overview
- Exhibit 77: MinebeaMitsumi Inc. - Business segments
- Exhibit 78: MinebeaMitsumi Inc. - Key news
- Exhibit 79: MinebeaMitsumi Inc. - Key offerings
- Exhibit 80: MinebeaMitsumi Inc. - Segment focus
- 11.9 NSK Ltd.
- Exhibit 81: NSK Ltd. - Overview
- Exhibit 82: NSK Ltd. - Business segments
- Exhibit 83: NSK Ltd. - Key news
- Exhibit 84: NSK Ltd. - Key offerings
- Exhibit 85: NSK Ltd. - Segment focus
- 11.10 NTN Corp.
- Exhibit 86: NTN Corp. - Overview
- Exhibit 87: NTN Corp. - Business segments
- Exhibit 88: NTN Corp. - Key offerings
- Exhibit 89: NTN Corp. - Segment focus
- 11.11 Schaeffler AG
- Exhibit 90: Schaeffler AG - Overview
- Exhibit 91: Schaeffler AG - Business segments
- Exhibit 92: Schaeffler AG - Key news
- Exhibit 93: Schaeffler AG - Key offerings
- Exhibit 94: Schaeffler AG - Segment focus
- 11.12 The Timken Co.
- Exhibit 95: The Timken Co. - Overview
- Exhibit 96: The Timken Co. - Business segments
- Exhibit 97: The Timken Co. - Key offerings
- Exhibit 98: The Timken Co. - Segment focus
12 Appendix
- 12.2 Currency conversion rates for US$
- Exhibit 99: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 100: Research Methodology
- Exhibit 101: Validation techniques employed for market sizing
- Exhibit 102: Information sources
- 12.4 List of abbreviations
- Exhibit 103: List of abbreviations
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