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[English Market Research Report] Ball Bearing Market

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The global market size for ball bearings reached 41.9 billion USD in 2022. The IMARC Group forecasts a growth rate of 4.2% (CAGR) between 2023 and 2028, predicting it will reach 54.2 billion USD by 2028. Ball bearings are rolling elements consisting of two ring-shaped tracks containing small rotating metal balls. They are known for their durability and provide smooth movement with low friction, supporting both axial and radial loads. Additionally, they offer support to achieve the desired motion while maintaining the appropriate gap between rotating parts. Furthermore, they help support weight, facilitate efficient power transmission, and ensure proper alignment of moving parts. As a result, they are widely used in the manufacturing of high-speed rotating automotive components, agricultural machinery, medical devices, and defense machinery.

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Global Market Research Report on Ball Bearings

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The global ball bearing market is expected to grow from 37.8 billion USD in 2022 to 40.23 billion USD in 2023, with a CAGR of 6.4%. The Russia-Ukraine war has disrupted the potential for global economic recovery from the COVID-19 pandemic, at least in the short term. This conflict between the two countries has led to economic sanctions against multiple nations, soaring commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets worldwide. The ball bearing market is projected to grow to 49.26 billion USD by 2027, with a CAGR of 5.2%.

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