According to the latest market research report released by Technavio, the global ball bearings market is expected to accelerate at a CAGR of almost 5% through 2021. (Graphic: Business Wire)
According to the latest market research report released by Technavio, the global ball bearings market is expected to accelerate at a CAGR of almost 5% through 2021. (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--According to the latest market research report released by Technavio, the global ball bearings market is expected to accelerate at a CAGR of almost 5% during the forecast period. The increased use of precision ball bearings to dampen noise is one of the key factors triggering the growth of the market.
This research report titled ‘Global Ball Bearings Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global ball bearings market into the following products:
In 2016, the deep groove ball bearings segment accounted for 37.26% of the global market and is projected to decline to 36.75% by 2021, exhibiting almost 0.51% decrease in market share.
Global ball bearings market: Top emerging trend
The innovation in the development of ball bearings is an emerging trend in the market. Ball bearing manufacturers are investing heavily in the development of innovative designs and materials to upgrade the working capability of ball bearings efficiently at lower costs. Manufacturers are concentrating on improving the characteristics of the existing bearings such as enhancing the life, improving friction resistance, lowering the torque, reducing the size, increasing temperature range, reducing weight, and lowering energy consumption. As the global ball bearing market is in its mature stage, the manufacturers are witnessing difficulties in product differentiation and retaining profits.
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Technavio’s report provides expert market research on the following topics:
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 www.technavio.com
According to Technavio, the global ball bearings market is expected to accelerate at a CAGR of almost 5% until 2021.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 www.technavio.com