Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What Future CAGR is Anticipated for the Ball Bearing Market Over the 2025–2034 Period?

The ball bearing market size has grown strongly in recent years. It will grow from $41.8 billion in 2024 to $43.96 billion in 2025 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to industrialization, automotive industry growth, aerospace industry demand, globalization, energy sector development.

The ball bearing market size is expected to see strong growth in the next few years. It will grow to $55.84 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainability focus, miniaturization trends, supply chain resilience, customization demands, predictive maintenance. Major trends in the forecast period include smart manufacturing and industry 4.0, sustainability and environmental considerations, technological advancements in materials, focus on maintenance and reliability.

What Factors Are Propelling the Growth of the ball bearing Market from 2025 to 2034?

Growing demand for electric vehicles (EVs) is expected to propel the growth of the ball bearing market going forward. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing population of electric vehicles drives the demand for ball bearings because ball bearings improve vehicle performance, and are used to reduce friction among tires. This helps in the free movement of vehicles with less power. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the ball bearing market going forward.

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Who Are the Influential Players Fueling Innovation and Growth in the Ball Bearing Market?

Major companies operating in the ball bearing market are:

• NTN Bearing Corporation_x000D_

• The Timken Company_x000D_

• Schaeffler AG_x000D_

• Jtekt Corporation_x000D_

• SKF AB_x000D_

What Impact Are Industry Trends Having on the Ball Bearing Market’s Future Prospects?

Technological advancements have emerged as a key trend gaining popularity in the ball bearing market. Major companies operating in the ball-bearing sector are focused on introducing new technologies to gain a competitive advantage. For instance, in August 2022, SKF, a Sweden-based bearing and seal manufacturing company, launched Hybrid deep groove ball bearing. This advanced bearing design combines the benefits of steel and ceramic materials, offering enhanced performance, reduced weight, and increased durability. The hybrid construction allows for lower friction and improved resistance to wear, making it ideal for demanding applications in various industries, including automotive and aerospace. With this launch, SKF aims to meet the growing demand for efficient and reliable components that can withstand extreme operating conditions.

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Which Key Segments Define the Structure of the Ball Bearing Market and Their Growth Potential?

The ball bearing market covered in this report is segmented –

1) By Type: Self-Aligning Bearing, Deep Grove Ball Bearing, Angular Contact Ball Bearing, Other Types

2) By Vehicle Type: Passenger Cars, Commercial Vehicles, Two – Wheelers

3) By Distribution Channel: Original Equipment Manufacturers (OEMs), Aftermarket

4) By Application: Automotive, Industrial Machinery, Mining And Construction, Medical, Others Applications

Subsegments:

1) By Self-Aligning Bearing: Spherical Roller Bearings, Self-Aligning Ball Bearings

2) By Deep Groove Ball Bearing: Single Row Deep Groove Ball Bearings, Double Row Deep Groove Ball Bearings

3) By Angular Contact Ball Bearing: Single Row Angular Contact Ball Bearings, Double Row Angular Contact Ball Bearings, Four-Point Contact Ball Bearings

4) By Other Types: Thrust Ball Bearings, Miniature Ball Bearings, Hybrid Ball Bearings

What Regions Are Leading the Growth Trajectory of the Ball Bearing Market?

Asia-Pacific was the largest region in the ball bearing market in 2024. The regions covered in the ball bearing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Do Experts Define the Scope of the Ball Bearing Market?

Ball bearing refers to bearings that are mostly used in machinery for speed rotation and help in maintaining an appropriate gap between the rotating parts while assisting in achieving the desired motion. These are used in various applications which have a high speed and a low load. This device offers a smooth, low-friction motion that can support both axial and radial loads. These can also be found in many everyday objects, such as skateboards, blenders, bicycles, DVD players, and photocopiers.

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