Latest News- Ball Bearings Market: Automotive industry is expected to lead the End-user segment during 2025-2029

The Ball Bearings Market is being driven by Growth in automotive industry

The Ball Bearings Market is expected to grow at a CAGR of 7.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2379.1 million. The global ball bearings market is experiencing a significant transformation, with manufacturers prioritizing product innovation to meet the escalating demands of the electric vehicle (EV) sector. NSK Ltd., a leading player, recently launched a compact and lightweight deep groove ball bearing, specifically designed for EV drive units. This advanced bearing solution offers a reduction of approximately 10 percent in outer diameter and 51 percent in weight compared to traditional models. The new bearing features a narrow-width combined plastic cage, engineered to minimize friction and support rotational speeds surpassing a dmn value of 2. This innovation addresses the critical EV requirements of high-speed performance, energy efficiency, and compact design. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive industry
  • Heavy industry
  • Aerospace and railway industry
  • Others
• Product
  • Deep groove
  • Angular contact
  • Self-aligning
  • Others
• Product Type
  • Grease-lubricated bearings
  • Oil-lubricated bearings
  • Dry bearings
• Type
  • Conventional bearings
  • Smart bearings
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in automotive industry
• Urbanization and industrialization
• Expansion of renewable energy sector

However, the market also witnesses some limitations, which are as follows:

• Fluctuating raw material prices
• Presence of counterfeit or substandard bearings
• Regulatory compliance

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Market Scope in Ball Bearings Market Research Report

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Research Analysis Overview

The Ball Bearings Market encompasses various types of bearings including linear ball bearings, spherical ball bearings, needle roller bearings, and roller bearings. These bearings feature raceways, cages, seals, housings, lubrication systems, and undergo assembly and disassembly processes. Factors influencing their performance include torque, wear, fatigue, vibration, noise levels, temperature, lubrication analysis, failure analysis, life prediction, performance simulation, design optimization, manufacturing technology, automation, and robotics.

Market Research Overview

In the expansive industrial machinery and supplies and components market, which encompasses organizations producing machinery and components for sectors such as presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, Ball bearings, including thrust, radial, self-aligning, and miniature types, represent a significant segment. The market's growth is attributed to the increasing industrial output in process and discrete industries due to the burgeoning demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries. According to Technavio's market analysis, the global industrial machinery and supplies and components market size is determined by the combined revenue generated by these manufacturers catering to the industrial sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/