Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analysts have predicted that the global bearing ball market will grow steadily during the predicted period and will post a CAGR of almost 5% by 2020. This industry research report identifies the rising demand for wind power generation to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Several wind turbine components such as the gearbox, generator, and the pitch and yaw system include bearing balls. Since wind turbines help in minimizing carbon emissions, there is a constant rise in the number of wind turbine installations around the world, and this is expected to propel the demand for ball bearings and bearing balls. Moreover, technological advancements have led to the development of distinct and durable hybrid wind turbines that can withstand extreme climatic conditions, which will increase investments in the installation of offshore wind turbines as well as they are a viable option in meeting the energy requirements of important cities located near the coastline.
APAC was the least affected region during the 2009 recession and the industrial sector in the region managed to sustain its growth, thus driving the market for ball bearings. Also, several companies in the Americas and EMEA are increasingly outsourcing their manufacturing and production facilities to smaller manufacturing companies in APAC due to the availability of skilled workforce and low-cost raw materials. Additionally, the rising investment in the power, railways, and telecom sectors in emerging countries such as India, will propel the demand for self-lubricating bearings. The region poses as a lucrative destination for both the production and demand for bearing balls, which will encourage vendors to set up their manufacturing facilities in APAC.
The global bearing ball market is mature and is characterized by the presence of a small number of manufacturers who have large market shares. Vendors mainly concentrate on increase the efficiency of bearing balls to retain their customers and acquire new ones. The increasing demand for electric vehicles (EVs) in the developed countries is expected to amplify the demand for ceramic bearing balls which will induce vendors to enter the ceramic bearing ball market. To sustain the competition and establish their market presence, vendors have the need to increase their product quality, their delivery times, and also offer products at an economical price. They also have the need to be updated on technological advances in terms of energy saving, durability, and speed and should also consider shifting their production to emerging markets.
The leading vendors in the market are -
Accounting for more than 47% of the total market shares, the automotive industry dominated the market during 2015. The rise in demand for fuel-efficient and technologically advanced cars equipped with advanced safety features will drive the growth of the automotive market. Also, continuous investments from leading automobile manufacturers towards new production facilities in the developing regions including India, Thailand, and Mexico will also fuel the growth of the automotive industry. Since a passenger car uses more than hundred pieces of bearings to minimize friction-based energy loss and increase energy efficiency, the growth of the automotive industry will augment the growth of the market.
In terms of geographical regions, APAC will dominate the market throughout the next four years. Countries such as Japan, China, Australia, India, South Korea, Taiwan, and Singapore will be the major revenue contributors to the market from this region. The increasing use of ball bearings in the construction, automotive, railway, wind energy, textile, manufacturing, and industrial sectors will fuel the demand for bearing balls. This region will account for almost 50% of the total market shares by 2020.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.