MarketResearchNest.com adds “Global Ball Bearings Market 2017-2021” new report to its research database. The report spread across 102 pages with table and figures in it.
Research analysts forecast the global ball bearings market to grow at a CAGR of 4.58% during the period 2017-2021.
About Ball Bearings
Bearings are elements used for reducing energy loss caused by friction in moving parts of machinery. Depending upon the requirement and capability, some of the types of bearings used in machines to overcome this issue include ball bearings, plain bearings, and roller bearings. The growing need for efficiency and improving design of bearings have improved bearing designs. It has been observed that the growth of the ball bearings market is closely linked with the growth and performance of end-user industries and their deployment of machines and equipment. The growth in the manufacturing sector, construction activities, high energy demand, economic growth in developing countries, rising disposable income of consumers, and increasing standard of living are a few factors that will lead to rapid investments in end-user industries and subsequently increase the demand for ball bearings during the forecast period.
Covered in this report
The report covers the present scenario and the growth prospects of the global ball bearings market for 2017-2021. To calculate the market size, the report considers the new installations, value and retrofit, replacement, and aftermarket services.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-ball-bearings-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Ball Bearings Market 2017-2021, 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.
Technavio Announces the Publication of its Research Report – Global Ball Bearings Market 2017-2021
Technavio recognizes the following companies as the key players in the global ball bearings market: SKF, NSK, NTN, JTEKT, and Schaeffler.
Other Prominent Vendors in the market are: Asahi Seiko, C&U Group, Graham Corporation, Ingersoll Rand, LYC Bearing, MinebeaMitsumi, Nachi Fujikoshi, RBC Bearings, and Timken.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Innovative integrated bearings and emergence of IoT supporting ball bearings
The changing dynamics of the global ball bearing market and shifting preferences of consumers are forcing vendors to integrate additional technological features to hold the market dominance. The lack of product differentiation and increasing penetration of advanced technology, such as IoT in the consumer segments, have enforced ball bearing manufacturers to incorporate the latest technologies in ball bearings.”
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According to the report, one of the major drivers for this market is Increased use of precision ball bearings to dampen noise. Over the few years, noise has become an issue and Occupational Safety and Health Administration (OSHA) has put a limit at 80 decibels. Factories, warehouses, and distribution centers have an inherently noisy environment. In addition, the increasing speed of motion to raise the productivity, increases the noise level beyond permissible limits. Thus, reducing the noise is an immediate requirement for machine equipment.
Further, the report states that one of the major factors hindering the growth of this market is Counterfeit products in ball bearings market. Counterfeit is a major challenge for the global ball bearings market. China is the major country producing counterfeit bearings. Counterfeit products are made with poor quality materials without adhering to the standards. These are only an imitation of the original products and can drastically affect the performance of the equipment. Though the entire bearings market suffers from this, around 70% of the counterfeited bearings comprise only ball bearings.
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.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain