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Sheridan, Wyoming, USA, November 15, 2021 /EINPresswire.com/--The global ball bearing market in 2020 will reach 37.8 billion U.S. dollars. Looking ahead, IMARC Group expects the market to grow at a compound annual growth rate of 4.1%-2026 in 2021.
A ball bearing is a durable rolling element consisting of two circular tracks with small, freely rotating balls. It is used to provide low friction and smooth motion by supporting radial and axial loads. Ball bearings are further used to promote effective power transmission, support weight and ensure the correct alignment of movable parts. They are widely used in general engineering, agriculture, mining and construction industries.
Note: We will regularly track the direct impact of COVID-19 on the market and the indirect impact of related industries. These opinions will be included in the report.
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The global ball bearing market is mainly driven by the increasing demand for high-precision bearings in different vertical industries such as aerospace, defense, shipbuilding, and commerce. In addition, rapid advances in lubrication and sealant technologies and the increasing integration of electromechanical properties in ball bearings are driving market growth. In addition, the emergence of the Internet of Things (IoT) and the widespread adoption of monitoring systems for tracking the activities of machines and equipment in the agricultural sector have created positive prospects for the ball bearing market.
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Global ball bearing market segmentation:
Automobile general engineering, mine construction, railway, aerospace, shipping, agriculture, etc.
Asia Pacific Europe North America Middle East and Africa Latin America
The report also analyzes the competitive landscape of the global ball bearing market. Some of the leading companies operating in the market are:
NTN Corporation Timken JTEKT SKF Schaeffler Group
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IMARC Group is a leading market research company that provides management strategy and market research on a global scale. We work with customers in all industries and regions to identify their most valuable opportunities, respond to their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-tech organizations. Market forecasts and industry analysis of biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are the company's top expertise.
Elena Anderson IMARC Services Private Limited + +1 6317911145 email us here
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