The miniature ball bearings market was exceeded US$ 1.7 billion in 2020 and is projected to reach US$ 2.9 billion by 2030, expanding at an annual CAGR of 9.5 percent, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.
The base year for the study has been considered 2021, the historic year 2019 and 2020, the forecast period considered is from 2021 to 2030. The dairy products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
Miniature ball bearing or instrument bearing are compact machined components, which is extensively used in the manufacturing of various downsized machines and equipment. Miniature ball bearing is designed for operating in small equipment and very useful in a variety of applications such as automotive, crusher industry, textile industry, heavy machinery equipment, electronics, and aerospace industry. The major functions of a miniature ball bearing includes supporting the load, reduced friction, and positioning moving machine components like wheels or shafts.
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Market Report Scope
| Report Highlights | Details |
| Market Size | USD 2.9 Billion by 2030 |
| Growth Rate | CAGR of 9.5% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
Competition Landscape
In the final section of the research report, Precedence Research provided the global miniature ball bearings market structure and a detailed competition landscape to provide a dashboard view of key players operating in the miniature ball bearings market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.
Some of the major players in the miniature ball bearings market include:
- NSK Ltd.
- Kitanihon Seiki Co. Ltd.
- Minebea Mitsumi Inc.
- GRW Bearing GmbH
- CW Bearing GmbH
- Cixing Group Co. Ltd
- Shanghai Lily Bearing Manufacturing Co.
- FAG Kugelfischer GmbH
- PacamorKubar Bearings, Inc.
Crucial factors accountable for market growth are:
- Growing demand for compact and mini machines and equipment
- Rapid industrialization in developing economies
- Rising demand for miniature ball bearings from aerospace and automotive industries
- Rising popularity of electric vehicles
- Increasing demand from the medical equipment manufacturing units
- Rising consumer expenditure in household electrical appliances
Report Highlights
- Dust cover segment led the global miniature ball bearing market with remarkable revenue share 45% in 2020. Rising popularity for compact and small sized equipment and machineries are uplifting the segment growth.
- By application, automotive segment held the major revenue share 39% in the global miniature ball bearing market in 2020 owing to the higher demand and the growing popularity of the electric vehicles is further fueling the segment growth.
- Asia Pacific dominated the global miniature ball bearing market in 2020 and projected to augment the market in the coming years. The prime factor attributed for its growth is technological advancement in the region along with government initiatives supporting the developments of industries. Countries such as China and India are attracting FDIs and are emphasizing on creating global manufacturing hub in the region.
- North America is projected as the most opportunistic region during the forecast period. This attributed to the faster adoption of new technologies in North America. Moreover, increased investment on technological advancements and innovations in the region is further propelling the growth of the market. North America is also expected to be the fastest-growing market for electric vehicles that is expected to significantly contribute to the growth of the miniature ball bearing market in the foreseeable future.
Market Dynamics
The growing demand from the aerospace, industrial, and automotive industries is exponentially driving the growth of the miniature ball bearing market. Technological advancements in the field of medical equipment, robotics, and computers is augmenting the development of efficient and cost-effective production of miniature ball bearings. Moreover, with the rapid growth and development in technology, the demand for the small and compact machines is on the rise across various industries, which is boosting the demand for the miniature ball bearings.
Restraint
There are certain problems associated with the miniature ball bearings. The miniature ball bearing might not provide satisfactory results even after it is correctly mounted and operated. The problems like excessive noise production, reduction in accuracy, and grease deterioration may be faced that may result in extra costs for the user. This may restraint the growth of the miniature ball bearing market.
Opportunities
The introduction of chrome steel and tungsten carbide in the production of miniature ball bearings is providing lucrative opportunities to the market players. Use of chrome steel helps in production of high-precision bearing that incorporates quieter, improved hardness, and wear resistant properties in the miniature ball bearing. Moreover, the use of tungsten carbide offers durability and long fatigue life to the miniature ball bearings. These innovations seem to offer new growth opportunities to the vendors in the upcoming years.
Challenges
Generally, in factories or manufacturing units, the environment is noisy. Sometimes the noise levels rises beyond the permissible limits. According to the Occupational Safety and Health Administration, the permissible noise is restricted to 80 decibels. Higher noise is not good for the workers’ health. The reduction of noises in equipment and machines are much needed. The high rotational speed of ball bearings is required in order to increase productivity. This is a major challenge faced and development of efficient precision miniature ball bearings is the need.
Recent Developments
- In April 2021, NSK Ltd. has developed ultra-high speed ball bearing for its use in the motors of electric vehicles. This third generation ball bearing is capable of operating at around 1.8 million dmN. It is claimed that this ball bearing is the fastest grease lubricated bearing for the automotive and it provides longer range and improve fuel efficiency. This will drive the growth of the miniature ball bearing market due to the rapid growth of the electric vehicle industry.
- In May 2019, CW Bearing exhibited at CWIEME Berlin 2019. This is a fair that brings together the expert engineers, supply chain professionals, and industry specialists. CW Bearing showcased it wide range of precision miniature ball bearing products. This move will help in the growth and higher adoption of precision ball bearings in the miniature ball bearing market.
Market Segmentation
By Product
- Open Miniature Ball Bearing
- Dust Cover Miniature Ball Bearing
- Others
By Application
- Automotive
- Aerospace
- Industrial
- Household Appliances
- Office Automation
- Information and Telecommunications
- Others
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Research Methodology
Secondary Research
It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and
Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Most Asked Questions –
- What was the market size value of the miniature ball bearings in 2020?
- What is the expected market size by 2030?
- What is the miniature ball bearings market growth?
- What are the key factors that positively influence market growth?
- Who are the prominent players in the miniature ball bearings market?
Why should you invest in this report?
If you are aiming to enter the global miniature ball bearings market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for miniature ball bearings are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Miniature Ball Bearings Market, By Product
7.1. Miniature Ball Bearings Market, by Product Type, 2021-2030
7.1.1. Open Miniature Ball Bearing
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Dust Cover Miniature Ball Bearing
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Others
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Miniature Ball Bearings Market, By Application
8.1. Miniature Ball Bearings Market, by Application, 2021-2030
8.1.1. Aerospace
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Automotive
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Industrial
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Household Appliances
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Office Automation
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Information and Telecommunications
8.1.6.1. Market Revenue and Forecast (2017-2030)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Miniature Ball Bearings Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. NSK Ltd.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Kitanihon Seiki Co. Ltd.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Minebea Mitsumi Inc.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Kitanihonseiki Co. Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. GRW Bearing GmbH
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. CW Bearing GmbH
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Cixing Group Co. Ltd
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Shanghai Lily Bearing Manufacturing Co.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. FAG Kugelfischer GmbH
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. PacamorKubar Bearings, Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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