February 11, 2021 09:09 ET | Source: Market Research Future Market Research Future

Pune, February 11, 2021 (GLOBE NEWSWIRE) - Ball Bearing Market Analysis/Ball Bearing Market Trend 

The Market Research Future (MRFR) report shows that the global ball bearing industry is profitable and is expected to achieve significant growth at a healthy compound annual growth rate of 4% during the forecast period (2020-2025). Ball bearings, to put it simply, use balls to maintain the separation between the bearing races. It is mainly used to reduce the friction between moving rotating parts and to support the rotating parts to obtain the required movement. Ball bearings are widely used in different vertical industries such as heavy machinery, railways, aerospace, and automobiles. 

Enhance the function of driving market growth 

According to the MRFR report, there are many factors that are driving the development of the ball bearing market. These include the development of wind turbine infrastructure from emerging markets in India, Mexico, Brazil and China, the growing demand for high-performance bearings for agricultural equipment, the rise of industrialization, the growing medical industry, and the needs of different end industries such as energy, Shipbuilding, aerospace and defense, the increasing demand for precision engineering, as well as the development of intelligent technology and digitalization. 

On the contrary, high maintenance costs and fluctuations in raw material prices may have a negative impact on the prospects of the global ball bearing market during the forecast period.  

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The ongoing COVID-19 pandemic has caused severe damage all over the world. The government's sudden blockade has had a huge impact on operations and supply chains, which has a negative impact on market growth. The automotive industry has also been severely affected by the pandemic and is in unprecedented uncertainty. The epidemic has severely affected automobile production. Supply chain disruption is also the reason for the slowdown in manufacturing activities, which delays the production of automobiles that hinder market growth. The decline in demand for automobiles has also affected the growth of the market. The relaxation of travel restrictions and the resumption of manufacturing activities may increase the revenue of the ball bearing market after the pandemic. 

The market research future report provides a comprehensive analysis of the ball bearing market based on application and type. 

According to the type, the global ball bearing market can be subdivided into thrust ball bearings, self-aligning ball bearings, angular contact ball bearings, deep groove ball bearings, etc. Among them, self-aligning bearings will lead the market during the forecast period to cope with growing application demands, including machine tools such as textile processing machinery and papermaking. 

According to the application, the global ball bearing market can be subdivided into construction, aerospace and defense, electronics, and automobiles. Among them, the automotive sector will dominate the market during the forecast period, as the sales of commercial vehicles and passenger vehicles in developing and developed regions continue to grow. 

Browse the in-depth market research report (120 pages) of the ball bearing market https://www.marketresearchfuture.com/reports/ball-bearing-market-10084

The Asia-Pacific region will lead the ball bearing market 

By region, the global ball bearing market covers growth opportunities and latest trends in Europe, Asia Pacific (APAC), North America and the rest of the world (RoW). Among them, the Asia-Pacific region will lead the market during the forecast period. The improvement of electric vehicle infrastructure, the increase in the number of windmills in India and China, the continuous development of construction, automotive and mining industries, public improvement projects in rural areas, and the surge in mining activities are increasing the value of the global ball bearing market in this region. 

Europe will occupy the second largest share of the ball bearing market 

In Europe, the global ball bearing market is expected to seize the second largest share during the forecast period. The booming automotive industry, the presence of top automakers, large private investors investing heavily in research and development, and growing construction infrastructure projects are increasing the region’s global ball bearing market share. In addition, sustained economic growth, increased investment, and rebound in automobile production have led to growing demand for ball bearings in mature markets such as Japan, Western Europe, and the United States, and a healthy fixed investment environment has also added vitality to the ball bearing market. Grow. 

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The well-known companies introduced in the global ball bearing market report include Luoyang Huigong Bearing Technology Co., Ltd., THB Bearing, SKF, GKN Plc, Danaher Company, LYC Bearing Company, Myonic GmbH, Timken Company, NSK Co., Ltd., Schafer Group, Nachi-Fujikoshi Corp and NTN Corporation, etc. 

The global ball bearing market is highly competitive and fragmented, with many well-known domestic and international players. These participants have adopted a variety of strategies to stay ahead of the competition and meet the growing needs of customers, such as mergers and acquisitions, partnerships, cooperation and joint ventures, strategic alliances, geographic expansion, contracts, new product launches, and development, etc. . They also compete with other participants and invest heavily in research and development activities to expand their product portfolio and gain a foothold in the market. 

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