Industry Background:
Ball bearings are mainly used to support rotating shafts in equipment. The ball bearings can be found in everything from personal computers to passenger cars. They are of simple design and can be precision made in bulk production quantities. It supports heavy loads over a wide speed range and does it virtually friction-free. The automotive ball bearing comes in many different sizes and shapes, are relatively inexpensive and require little or no maintenance. A ball bearing includes an inner ring (IR), an outer ring (OR), a complement of balls, and a separator to contain the balls.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | SKF (Sweden), Schaeffler Group (Germany), NSK (Japan), NTN Corporation (Japan), JTEKT (Japan), TIMKEN (United States), Federal-Mogul (United States), Perfect Fit Industries (United States), GKN (United Kingdom) and GMB Corporation (Japan) |
This growth is primarily driven by Increasing Commercial Vehicle Production Owing to Rising Demand and Exploration of Alternative Raw Materials with an Aim to Reduce the Weight.
Globally, a noticeable market trend is evident Growing Focus on Increasing Volumetric Efficiency by Reducing Friction Major Vendors, such as SKF (Sweden), Schaeffler Group (Germany), NSK (Japan), NTN Corporation (Japan), JTEKT (Japan), TIMKEN (United States), Federal-Mogul (United States), Perfect Fit Industries (United States), GKN (United Kingdom) and GMB Corporation (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Leading key players of automotive ball bearing are focusing on strategic partnerships to improve their products and services along with focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Key Developments in the Market:
In November 2022, automotive and industrial supplier Schaeffler signed an agreement with CERATIZIT Group for the acquired CERASPIN. Headquartered in Livange, Luxembourg, CERASPIN has more than 25 years of experience in the development and production of premium ceramic products, most of which are machined into rolling elements for a variety of bearing applications. Bearings manufactured based on this technology are used in various strategic growth fields such as wind power, railways, aerospace, medical devices, electrical engineering, and vacuum pumps for the semiconductor industry.
In February 2023, The Timken Company, a global industry leader in engineered bearings and industrial motion products, acquired the assets of American Roller Bearing Company (ARB), a North Carolina-based industrial bearing manufacturer. ARB's products join Timken's industry-leading portfolio of engineered bearing solutions. ARB boasts a large installed base and strong aftermarket business in the US
Influencing Trend:
Growing Focus on Increasing Volumetric Efficiency by Reducing Friction
Market Growth Drivers:
Increasing Commercial Vehicle Production Owing to Rising Demand and Exploration of Alternative Raw Materials with an Aim to Reduce the Weight
Challenges:
Low Replacement Rate Owing to Longer Life-span
Restraints:
Fluctuations in Raw Materials Prices
Opportunities:
Emergence of Innovative Technologies in Automobile Components Manufacturers
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Ball Bearing Market
- Analysis about New Entrants in Automotive Ball Bearing Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Ball Bearing Study Sheds Light on
The Automotive Ball Bearing Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Ball Bearing industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Ball Bearing industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.