The Global Miniature Ball Bearing Market Size is valued at USD 1,735 Million in 2021 and is estimated to achieve a market size of USD 3,643 Million by 2030; growing at a CAGR of 8.9%.
Ball bearings are the machinery constituents, which comprise shields, snap rings, inner ring, outer ring, balls, and retainers. Small-sized ball bearings or miniature ball bearings consists of exterior diameter up to 20mm. Ball bearings incline to have inferior load capacity due to its size than other varieties of rolling-element bearings. Equipment manufacturers have a multitude of bearing requirements including higher speeds, less torque, zero maintenance, less noise and vibration, withstanding harsh environments, integration into units, and many more. Miniature ball bearings provide an ideal solution for a wide variety of light duty instrument and precision applications. Ball bearings with Internal Diameter (ID) less than 10mm and outer diameter (OD) of 20 mm or less are classified as miniature ball bearings, and are sometimes referred to as micro bearings or instrument bearings. Automotive industry is the largest consumer of miniature ball bearings, across the globe.
Global Miniature Ball Bearing Market DRO’s:
Miniature Ball Bearing Market Report Coverage:
|Market||Miniature Ball Bearing Market|
|Miniature Ball Bearing Market Size 2021||USD 1,735 Million|
|Miniature Ball Bearing Market Forecast 2030||USD 3,643 Million|
|Miniature Ball Bearing Market CAGR During 2022 - 2030||8.9%|
|Miniature Ball Bearing Market Analysis Period||2018 - 2030|
|Miniature Ball Bearing Market Base Year||2021|
|Miniature Ball Bearing Market Forecast Data||2022 - 2030|
|Segments Covered||By Type, By Application, And By Region
|Miniature Ball Bearing Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||The Timken Company, NTN Corporation, Huanchai Bearing Group Co., Ltd, SKF AB, Kitanihon Seiki Co., Ltd., FAG Kugelfischer GmbH, Shanghai Lily Bearing Manufacturing Co., Ltd, Pacamor Kubar Bearings, Inc, NSK Ltd., MinebeaMitsumi Inc., and GRW High Precision Ball Bearings.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The market is mainly driven by the factors such as high demand from automotive sector and growing applications of miniature ball bearings among various end user industries. In addition, swift urbanization, industrialization, and improved spending capability of customers are also contributing to the growth of miniature ball bearings market. However, maintenance and flexibility concerns can restrict the growth of global miniature ball bearing market. Focus on developing bearings that can fit into limited space, increasing recycling efforts, opportunities in the miniature ball bearing market, growing robotics and automation industry and rise in product miniaturization across several industries are some of the factors expected to propel the growth of this market during the forecast period.
Miniature Ball Bearing Market Segmentation
The market can be bifurcated on the basis of type, application, and region.
Miniature Ball Bearing Market by Type
According to our miniature ball bearing industry analysis, the dust cover miniature ball bearings sub-segment wil achieve the maximum market share. On the other hand, the open minaiture ball bearings sub-segment is anticipated to achieve the fastest growth rate in the coming years. Furthermore, others (flanged outer, extended inner) sub-segment is likely to register a stable growth during the forecasted timeframe from 2022 to 2030.
Miniature Ball Bearing Market by Application
On the basis of application, the global miniature ball bearing market is segmented into small motors, information and telecommunications equipment, instrumentation and semiconductor equipment, household electrical appliances, medical, industrial, automotive, machine tools, robotics and others. Greater demand for bearings in automotive, industrial and medical applications provides the boost to market growth. The global automotive industry is experiencing major growth, especially in emerging economies such as China and India, resulting in a rising demand for miniature ball bearings. Ball bearings are required in automobiles to reduce friction, bear load and improve performance. Ball bearings are used in many parts of automobiles such as engine, clutch, gearbox, transmission shaft, wheel hub, among others. They are also preferred over other ball bearings as they reduce friction to the minimum.
Miniature Ball Bearing Market Regional Outlook
The Middle East & Africa (MEA)
Rapid industrialization in emerging countries like China and India fuels the Asia-Pacific Miniature Ball Bearing market value
According to our miniature ball bearing regional outlook, the Asia-Pacific region is likely to lead the market with impressive shares from 2022 to 2030. The increasing construction and automotive industry, extensive demand from industrial and machine tool applications, surging need in manufacturing units, and rapid adoption in robotics industry are the leading aspects that is driving the Asia-Pacific miniature ball bearing market. Emerging countries such as China, India, South Korea and developed nations such as Japan and Singapore are extensively using miniature ball bearings in their manufacturing industries. As a result, APAC countries are supporting the region to stay at top in the coming future.
In terms of growth, North America is anticipated to witness a substantial growth in the coming years. The presence of technologically advanced industries, growing demand from automotive and aerospace industries, and flourishing robotics industries are all fueling the North American miniature ball bearing market.
Miniature Ball Bearing Market Players
Some of the global miniature ball bearing companies profiled in the report include The Timken Company, NTN Corporation, Huanchai Bearing Group Co., Ltd, SKF AB, Kitanihon Seiki Co., Ltd., FAG Kugelfischer GmbH, Shanghai Lily Bearing Manufacturing Co., Ltd, Pacamor Kubar Bearings, Inc, NSK Ltd., MinebeaMitsumi Inc., and GRW High Precision Ball Bearings.
The global miniature ball bearing market size in 2021 was accounted to be USD 1,735 Million.
The projected CAGR miniature ball bearing market during the analysis period of 2022 to 2030 is 8.9%.
The prominent players of the global miniature ball bearing market are The Timken Company, NTN Corporation, Huanchai Bearing Group Co., Ltd, SKF AB, Kitanihon Seiki Co., Ltd., FAG Kugelfischer GmbH, Shanghai Lily Bearing Manufacturing Co., Ltd, Pacamor Kubar Bearings, Inc, NSK Ltd., MinebeaMitsumi Inc., and GRW High Precision Ball Bearings.
Asia-Pacific held the dominating miniature ball bearing during the analysis period of 2022 to 2030.
North America region exhibited fastest growing CAGR for miniature ball bearing during the analysis period of 2022 to 2030.
Increasing use of miniature ball bearings in automotive sector, miniaturization of industrial equipment, and growing demand from compact and lightweight devices drives the growth of global miniature ball bearing market.
Based on type, dust cover miniature ball bearings segment held the maximum share miniature ball bearing market in 2021.