[Start of Market Research Report Handling] World Market Report on Needle Bearings 2024

The needle bearing market is expected to experience robust growth in the coming years, reaching USD 6.39 billion by 2028 with a CAGR of 6.7%. The anticipated growth during the forecast period is attributed to the proliferation of electric vehicles, the expanding adoption in medical devices, the growth of the aerospace segment, the expansion of the industrial machinery sector, and the rise of industrial automation. Key trends expected during this period include technological advancements in bearing manufacturing, innovations in high-performance bearings, improvements in bearing materials and lubricants, advancements in manufacturing methods, developments in the optimization of geometric components, and innovations in new products.
The increasing popularity of electric vehicles (EVs) is expected to drive the growth of the needle bearing market in the coming years. Electric vehicles utilize electric motors powered by energy stored in rechargeable batteries, in contrast to traditional internal combustion engines. Electric vehicles are described as environmentally friendly means of transportation since they do not emit pollutants while in operation.
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