The global ball bearing market to grow at a CAGR of 5.85% during the period 2016-2020.
Global Ball Bearing 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.
According to the report, prospects from wind power market will be the key driver for market growth. The demand for power has increased constantly worldwide. The growth in population and global economy is projected to drive this demand further; this upsurge in global population would require substantial amount of power to sustain the economy growth. The world power demand is forecast to increase from 19,004 TWh in 2011 to 34,454 TWh by 2035.
Further, the report states that cartelization and competition will be a challenge to the market growth. Competition in the ball bearing industry has intensified on a global level, and the pace of change in this business has accelerated. In order to restrict entry of new competitors and to maintain market dominance, key players are colluding and fixing prices of ball bearings.
- Growing use of ceramic ball bearings in EVs
- Threat of low-cost and counterfeit products
- Development of integrated bearings and emergence of sensor bearing units
Other prominent vendors
- C&U Group
- NBI Bearings
- RBC Bearings
For more information visit http://www.researchandmarkets.com/research/zv6ckk/global_ball