(MENAFNEditorial) Technavio Announces the Publication of its Research Report Global Bearing Ball Market 2016-2020
Technavio recognizes the following companies as the key players in the global bearing ball market: Amatsuji Steel Ball, JGBR, NN, and Tsubaki Nakashima.
Commenting on the report, an analyst from Technavios team said: Activities to protect the environment are gaining momentum worldwide; following in the footsteps of other industries, the bearing industry is also making the shift toward developing new types of application-specific bearings for the wind energy segment. Wind turbines require large, maintenance-free, high-quality bearings to save energy and reduce carbon emissions. This emerging trend provides an opportunity for growth of the bearing industry over the forecast period. This will, in turn, translate into high demand for large bore, anti-friction bearings in the manufacturing and heavy machinery industries.
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According to the report, one of the key drivers for market growth will be increase in investment in railways and aerospace. Increased demand for commercial aircraft is expected to fuel the demand for the ball bearing market. Global air traffic has been growing at 5.5% annually. The aerospace industry is expected to have a steady demand for ball bearings, especially those used in commercial aircraft and this is expected to propel demand for bearing balls. However, in the case of military aircraft, missiles, and space, the demand for ball bearings is expected to grow marginally or negatively, depending on the budget allocation in different countries.
Further, the report states that sluggish growth of Chinese economy will be a challenge for the market. The recent slowdown that the Chinese economy has been experiencing will have an adverse effect on the bearing ball market. The Chinese GDP grew at only 7.4% in 2014, the slowest recorded since 1990. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector, together with the huge manufacturing overcapacity.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Bearing Balls
Bearing balls are spherical and smooth balls that are widely used in applications related to ball bearings, besides being used as components in freewheel mechanisms. The bearing balls are available in different grades as predefined by the American Bearing Manufacturers Association (ABMA), which defines the precision of bearing balls and other type of precision balls.
Technavios analysts forecast the global bearing ball market to grow at a CAGR of 4.99% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global bearing ball market for 2016-2020. The market size has been calculated from the sales revenue of vendors in this market. The average price of bearing balls has been taken into consideration to estimate the market revenue.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Bearing Ball Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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