According to a recent market study published by Growth Market Reports titled, “Global Thin Section Ball Bearings Market by Type, Application, Supply Channel, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 808.8 Million in 2019 and is expected to grow at a healthy growth rate of 2.4% by the year 2027. The global thin section ball bearings market is anticipated to grow owing to prevalence of industrial transformation projects in several nations of Asia Pacific region resulting in substantial demand for automation across numerous industries. Additionally, the emergence of various local players in the market is expected to result in the expansion of the global thin section ball bearings market during the forecast period.

The global thin section ball bearings market is fragmented based on type, application, and region. In terms of type, the market is segmented into open typed, sealed typed, and shielded typed. On the basis of application, the market is divided into robotics, automation, semiconductor equipment, aerospace and defense, textile, and others. Based on region, the global thin section ball bearings market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada, the Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific (APAC). Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America (LATAM), and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

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In year 2020, the thin section ball bearings market is expected to witness a decline owing to the outbreak of COVID-19. The pandemic has rapidly and seriously affected and increased the risk of shortages of the global supply chain of thin section ball bearings. Leading raw material manufacturers and market exporters face several challenges, including the reduction in supplies of raw materials and the export of goods as a result of transport shortages.

As per Growth Market Reports industry analyst Akshata Ahire, “The Global Thin Section Ball Bearings Market is anticipated to witness significant growth during forecast period 2020-2027, mainly driven by increasing automation and use of robotics across several industries. Additionally, the preference towards light weight applications is resulting in the expansion of the market. However, high prices associated with the market price of thin section ball bearings is a major factor hindering the global market. Key players in the market are actively focusing on R&D activities to make developments and advancements in thin section ball bearings.”

Key Takeaways from the Study:

  • Top four market participants hold approximately one third of market share of global thin section ball bearings market in year 2019.
  • North America accounts for a major share of the market, followed by Europe, and Asia Pacific. The market in Europe is projected to expand at significant CAGR during the forecast period.
  • The robotics segment is anticipated to expand at a significant CAGR during the forecast period. The use of thin section ball bearings in robotics improves the resistance, speed, and precision, ultimately leading to high demand for these bearings in robotics applications.
  • The open typed segment is anticipated to expand at a substantial CAGR during the forecast period as these bearings allows the intake of fresh grease while pushing out the old grease simultaneously from the bearing along with the contaminants suspended in it.

Report Scope:

Report Metric

Details

Market Value in 2019

USD 808.8 Million

Market Growth Rate (from 2020 to 2027)

2.4%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (USD Million)

Market Segments

By Type, By Applications, By Sales Channel

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

The U.S., Canada, Germany, France, Italy, the U.K., Spain, Russia, Rest of Europe, China, Japan, South Korea, India, Australia, South East Asia (SEA), Rest of Asia Pacific (APAC), Brazil, Mexico, Rest of Latin America (LATAM), Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa (MEA)

Key Companies Profiled

AEC, AST Bearings LLC, CPM S.p.A, IEC, New Hampshire Ball Bearings, Inc., NSK Ltd., NTN Corporation, RBC Bearings Incorporated., Schaeffler Technologies AG & Co. KG, Schatz Bearing Corp., Silverthin Bearing Group, SKF, The Timken Company, and ZYZ Bearing

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Thin section ball bearings manufacturers, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Robotics companies, semiconductor manufacturers, companies engaged in providing automation, etc.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
  • Associations and Industry Bodies: Environmental Protection Agency (EPA), International Organization for Standardization (ISO), Ministry of Health, Labor and Welfare (MHLW), World Trade Organization (WTO), Occupational, Safety and Health Administration (OSHA), and American National Standards Institute (ANSI).