Market Research Report
Ball Bearings - Global Market Outlook (2017-2023)
|Published by||Stratistics Market Research Consulting||Product code||560025|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Ball Bearings - Global Market Outlook (2017-2023)|
|Published: September 1, 2017||Content info: 150 Pages||
According to Stratistics MRC, the Global Ball Bearings Market is expected to grow at a CAGR of 7.2% during the forecast period. Ball Bearing is a progressing component bearing that uses to sustain the partition between the bearing races. These ball bearings are used in many applications such as hard drive, aerospace bearings, skateboards, yo-yos, and fidget spinners.
Some of the key factors that drive the growth of the market such as rising requirement for ceramic ball bearings in electric vehicles, growing investment in railways and aerospace, increasing need for wind power generations, financial growth in emerging countries and rise in need for lightweight bearings in automotive sector. However, risk of low-cost and fake products, enlarged usage of pre-owned bearings and lack of product differentiation and Cartelization are hampering the market growth.
Based on application, automotive industry leads the global market owing to growing improvements in fuel efficient and technically advanced cars equipped with highly developed safety features. In terms of geography, Asia Pacific captured the largest market share due to the increasing usage of ball bearings in automotive, textile, railway and other industrial applications in this region.
Some of the key players profiled in this market include JTEKT Corporation, LYC Bearing, MinebeaMitsumi, Graham Corporation, SKF Company, The Timken Company, NSK Ltd, Schaeffler Technologies AG & Co. KG, RBC Bearings, NTN Corporation, Spyraflo, Inc, Federal-Mogul Corporation, Nachi Fujikoshi, AST Corporation and Ingersoll Rand.