Global Miniature Ball Bearing Market Expected To Grow At CAGR of 9.0% By 2026: Acumen Research and Consulting
Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Miniature Ball Bearing Market
(Type: Open Miniature Ball Bearings, Dust Over Miniature Ball Bearings, Others; Application: Small Motors, Information and Telecommunications Equipment, Instrumentation and Semiconductor Equipment, Household Electrical Appliances, Medical, Industrial, Automotive, Machine Tools, Robotics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”, forecasts that the global market for miniature ball bearingis expected to grow at a CAGR of 9.0% in terms of revenue from 2018to 2026 and reach the market valuearound 2.30 billion by 2026. Key opportunities associated with miniature ball bearing market are primarily focused on manufacturing bearings that can fit into restricted space, growing recycling efforts and opportunities in the miniature ball bearing market. However, flexibility and maintenance concernscanlimitthe growth of this market.
High Demand from Automotive Sector
The global automotive industry is experiencing significant 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. Different kinds of ball bearings are used in automobiles pertaining to their application and function. Automotive industry has switched to miniature ball bearings as bigger ball bearings occupy a lot of space and also add up to the overall weight of the vehicle. Miniature ball bearings are used to overcome these limitations. They are also preferred over other ball bearings as they reduce friction to the minimum.
Maintenance and Flexibility Concerns Can Impede Market Growth
The miniature ball bearings carry maintenance issues with them. Due to smaller size, these ball bearings are susceptible to excessive handling forces. These high-quality bearings cannot be expected to perform to their maximum potential if they become battered or contaminated. These ball bearings require regular maintenance for smooth operation. Moreover, miniature ball bearings generally, have limited options in terms of sizing and capacity. For an application that may require different range of sizes and capacity, this is major concern. If a bearing is overloaded, it can easily become deformed due to ball flattening which will result in poor performance and eventually bearing failure. However, customization services provided by several vendors may address these concerns to some extent.
Dust Over Miniature Ball Bearing is Mounting Influence in Various Application
On the basis of type, the global miniature ball bearing market is segmented into open miniature ball bearings, dust over miniature and others. In 2015, dust over miniature ball bearings held with highest market share of 44% in terms of volume. Dust over miniature ball bearings, owing to their enhance properties and their uses in various application such as automotive and medical, accounts for the major share of global miniature ball bearing market and is anticipated to grow at a significant rate over the forecast period.
The major companies profiled in the report include Kitanihon Seiki Co., Ltd., Huanchai Bearing Group Co., Ltd, The Timken Company, SKFAB, PacamorKubar Bearings, Inc, Shanghai Lily Bearing Manufacturing Co., Ltd, NTN Corporation, NSK Ltd., GRW High Precision Ball Bearings FAG Kugelfischer GmbH, and Minebea MITSUMI Inc. among others.
The report is readily available and can be dispatched immediately after payment confirmation.