Global Ball Bearing Market Share, Size, Growth Trends And Forecast (2018-2023)

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Global Ball Bearing Market to Cross 47 Billion
Tons by 2023
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Report Description and Highlights
Report Description
Global Ball Bearing Market to Cross 47 Billion
Tons by 2023 Over the past few years, the
global ball bearing market has been encountering
a moderate growth. Some of the forces which have
given impetus to the market include increasing
investments in railways, surging demand for wind
power generation, low maintenance cost and
flourishing electric vehicle industry. Ball
bearing refers to a rolling-element bearing which
uses balls for maintaining an appropriate gap
between its movable parts. It helps to reduce the
rotational friction which is generated by the
working of a machine. The major components of a
ball bearing include an outer ring, an inner
ring, steel balls and a cage. Owing to its simple
design, durability as well as low maintenance
expenses and operating temperature, ball bearing
is extensively used in aircrafts, automobiles,
medical equipment, etc. A new research report by
IMARC Group, titled Ball Bearing Market Global
Industry Trends, Share, Size, Growth, Opportunity
and Forecast 2018-2023 estimates that the global
ball bearing market reached a volume of 33
Billion Tons in 2017. The report further projects
the market to reach a volume of 47 Billion Tons
by 2023, exhibiting a CAGR of 6.2 over the
forecast period.
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Report Description and Highlights
Report Description

• Global Ball Bearing Market Drivers/Constraints
• Expanding use of ceramic balls in applications
  which require high-grade electrical isolation
  remains the major catalyst for the market growth.
• Shifting focus towards reduced dependence on
  transportation which uses petrol or other fossil
  fuels has been witnessed in the developed
  nations. This coupled with increasing social
  awareness has led to the growth of the electrical
  vehicles industry, which in turn, is impacting
  the demand for ceramic ball bearings.
• Some of the other forces propelling the market
  growth include rising investment in railways as
  well as aerospace, increasing production of wind
  power and need for light-weight bearing in the
  automotive sector.
• There are various factors that act as a hindrance
  for the global ball bearing market growth such as
  wide use of pre-owned bearing and lack of product
  differentiation.
• Read more here https//www.imarcgroup.com/ball-be
  aring-market

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Report Description and Highlights
Report Description
Application Insights On the basis of
application, the global ball bearing market is
classified as automobile, general engineering,
mining and construction, railways, aerospace and
shipping, agriculture, and others. Automobile
represents the largest application segment
accounting for the majority of the total global
share.   Regional Insights On a
geographical front, Asia-Pacific enjoys a leading
position in the global ball bearing market with
the largest market share. Asia-Pacific is
followed by Europe, North America, Middle East
and Africa, and Latin America. Request Sample Of
The Report https//www.imarcgroup.com/request?typ
ereportid852flagB
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Report Description and Highlights

• Competitive Landscape
• The market is fragmented in nature with the
  presence of various small and large manufacturers
  who compete in terms of prices and quality. There
  is an intense competition in the market which
  makes it hard for small players to survive. Some
  of the leading players operating in the market
  are
• NTN Corporation
• Timken
• JTEKT
• SKF
• Schaeffler Group
• Browse more related reports 
• Alternators Market  https//www.imarcgroup.com/al
  ternator-market
• Electric Motor Market https//www.imarcgroup.co
  m/electric-motor-market

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Report Description and Highlights
Report Description

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