The global miniature ball bearing market size is expected to reach around 2.35 billion by 2026 and is expected to grow at a CAGR of 9.2% in terms of revenue during the period 2019-2026.
The miniature ball bearing refers to bearing with outer diameter 20mm or less. Miniature ball bearings, like all other ball bearings, are designed to reduce friction and to handle payloads so that heavy weights can be relocated easily by means of some application such as cranes, etc. High demand from automotive industry and increasing applications in various industries such as automotive, medical, machine tools, robotics and others are the major factors driving the global market growth. In addition, rapid industrialization, urbanization, and improved spending capacity of consumers are also driving the growth of miniature ball bearings market. The product innovations present a challenge to bearing manufacturers since there are ever increasing demands to offer bearings with accuracy, high performance, and reliability. Technological innovations in automobile sector have led to the introduction of small motors, compressors and alternators which require miniature ball bearings.
Focus On Developing Bearings That Can Fit Into Limited Space
Miniature ball bearings are advantageous in a wide range of applications. These bearings are tremendously suitable in applications such as electrical, automotive, and medical devices where the space is partially available or limited. Apart from improving the quality of bearings, the focus is also being put by various OEMs on finding cost effective and environment friendly solutions. Berkeley Lab's Materials Sciences Division (MSD) Berkeley, California USA, developed smallest bearings which are a few billionths of a meter in size. These bearings find their applications in microscopic machines. In 2015, Minebea Mitsumi Inc. developed smallest commercially available steel ball bearing.
Insights on Market Segments
The miniature ball bearing market is segmented based on type, application, and geography. Based on type, it is classified into open miniature ball bearings, dust over miniature ball bearings, and others (flanged outer and extended inner). Based on application, the market is divided into small motors, information and telecommunications equipment, instrumentation and semiconductor equipment, household electrical appliances, medical, industrial, automotive, machine tools, robotics, others. Furthermore, the others segment comprises aircraft application, gear heads, office automation equipment and tape guide assemblies. By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
The Asia-Pacific Represents Major Share in the Miniature Ball Bearing Market
Asia-Pacific was the largest market in the global miniature ball bearing market in 2015, and is expected to continue its dominance till 2026. This regional market held more than 55.0% share in 2015, in terms of volume. Major demand of miniature ball bearings comes from gearboxes, pumps, automobiles, industrial and medical sector among others. The miniature ball bearing business carters to the requirement of replacement market directly linked to automotive and industrial sectors. Industrial miniature bearing market is far more spread. The government fillip to manufacturing sectors in many Asian countries has led to the increase in miniature ball bearing business. The industrial applications of miniature ball bearing products are enormous, which calls for manufacturing of a specialized miniature ball bearing. The increase in infrastructure and industrialization has led to the growth of Asia-Pacific miniature ball bearing market.
The report analyzes and forecasts the miniature ball bearing market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global miniature ball bearing market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the miniature ball bearing market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of miniature ball bearing market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Competitive Landscape is the most valuable part of this report
The major companies profiled in the report include Minebea MITSUMI Inc., Huanchai Bearing Group Co., Ltd, Pacamor Kubar Bearings, Inc, Kitanihon Seiki Co., Ltd., Shanghai Lily Bearing Manufacturing Co., Ltd, The Timken Company, SKF AB, NTN Corporation, NSK Ltd., GRW High Precision Ball Bearings, and FAG Kugelfischer GmbH among others.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
Market By Type
Open Miniature Ball Bearings
Dust Over Miniature Ball Bearings
Others (Flanged outer, Extended Inner)
Market By Application
Information and Telecommunications Equipment
Instrumentation and Semiconductor Equipment
Household Electrical Appliances
Others (Aircraft application, Gear heads, office automation equipment, tape guide assemblies)
Market By Geography
Rest of the World
Rest of Row
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Macrofiltration Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Flue Gas Desulfurization Systems Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Glass Curtain Wall Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Industrial Furnaces Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...
Industrial Lasers Systems Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027Read more...