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Mar 02, 2025

Global Ball Bearings Market: Anticipated to Reach 2.7M Tons and $42.1B by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: World - Ball Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the projected growth of the ball bearings market, with estimates indicating a rise in market volume to 2.7M tons and market value to $42.1B by the end of 2035. This growth is attributed to the rising demand for ball bearings worldwide.

Driven by increasing demand for ball bearings worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market volume to 2.7M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.8% for the period from 2024 to 2035, which is projected to bring the market value to $42.1B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 2.2M tons of ball bearings were consumed worldwide; flattening at 2023 figures. The total consumption volume increased at an average annual rate of +1.9% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 8.3%. Over the period under review, global consumption reached the maximum volume at 2.4M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The global ball bearing market revenue reached $34.5B in 2024, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.1% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $37B. From 2019 to 2024, the growth of the global market remained at a lower figure.

China (592K tons) constituted the country with the largest volume of ball bearing consumption, accounting for 26% of total volume. Moreover, ball bearing consumption in China exceeded the figures recorded by the second-largest consumer, India (227K tons), threefold. The third position in this ranking was held by the United States (222K tons), with a 9.9% share.

In China, ball bearing consumption increased at an average annual rate of +3.3% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+3.2% per year) and the United States (+2.4% per year).

In value terms, the largest ball bearing markets worldwide were China ($8.3B), India ($5.5B) and Japan ($2.8B), together accounting for 48% of the global market. The United States, Indonesia, Mexico, Italy, Germany, Turkey and South Korea lagged somewhat behind, together accounting for a further 22%.

South Korea, with a CAGR of +4.0%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of ball bearing per capita consumption in 2024 were Japan (1,243 kg per 1000 persons), Italy (1,162 kg per 1000 persons) and South Korea (1,085 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Italy (with a CAGR of +4.5%), while consumption for the other global leaders experienced more modest paces of growth.

Global ball bearing production surged to 4.1M tons in 2024, picking up by 58% on the previous year's figure. In general, production enjoyed a prominent increase. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, ball bearing production expanded slightly to $40.1B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. Over the period under review, global production reached the peak level at $40.8B in 2022; however, from 2023 to 2024, production remained at a lower figure.

The countries with the highest volumes of production in 2024 were Thailand (1.8M tons), China (1.1M tons) and Japan (218K tons), with a combined 74% share of global production.

From 2013 to 2024, the biggest increases were recorded for Thailand (with a CAGR of +47.6%), while production for the other global leaders experienced more modest paces of growth.

Global ball bearing imports skyrocketed to 1.1M tons in 2024, surging by 18% against the year before. The total import volume increased at an average annual rate of +1.6% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 29%. Over the period under review, global imports attained the maximum in 2024 and are likely to see gradual growth in the immediate term.

In value terms, ball bearing imports dropped to $12.5B in 2024. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 29%. Global imports peaked at $15.6B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

Thailand represented the key importer of ball bearings in the world, with the volume of imports reaching 309K tons, which was approx. 28% of total imports in 2024. Germany (79K tons) held the second position in the ranking, followed by the United States (63K tons) and China (50K tons). All these countries together took approx. 18% share of total imports. Mexico (45K tons), Brazil (35K tons), Italy (31K tons), South Korea (28K tons), the Netherlands (25K tons) and Vietnam (23K tons) held a little share of total imports.

Thailand was also the fastest-growing in terms of the ball bearings imports, with a CAGR of +34.1% from 2013 to 2024. At the same time, Vietnam (+12.7%), Mexico (+3.3%), South Korea (+2.1%) and Brazil (+1.8%) displayed positive paces of growth. By contrast, the Netherlands (-1.0%), China (-1.2%), Italy (-2.0%), the United States (-2.3%) and Germany (-3.6%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Thailand increased by +27 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing importing markets worldwide were China ($1.5B), Germany ($1.3B) and the United States ($1.2B), with a combined 32% share of global imports. Mexico, Italy, South Korea, the Netherlands, Brazil, Thailand and Vietnam lagged somewhat behind, together accounting for a further 20%.

Vietnam, with a CAGR of +4.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

In 2024, the average ball bearing import price amounted to $11,514 per ton, shrinking by -26.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2020 an increase of 9.4%. Over the period under review, average import prices attained the maximum at $15,839 per ton in 2014; however, from 2015 to 2024, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was China ($29,502 per ton), while Thailand ($784 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the other global leaders experienced more modest paces of growth.

For the fourth year in a row, the global market recorded growth in overseas shipments of ball bearings, which increased by 125% to 3M tons in 2024. Over the period under review, exports continue to indicate a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports shrank to $12.6B in 2024. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $15.3B. From 2022 to 2024, the growth of the global exports failed to regain momentum.

Thailand was the largest exporting country with an export of about 2.1M tons, which resulted at 69% of total exports. It was distantly followed by China (512K tons), comprising a 17% share of total exports. Japan (84K tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the ball bearings exports, with a CAGR of +63.0% from 2013 to 2024. At the same time, China (+16.8%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2013 to 2024, the share of Thailand and China increased by +68 and +3.4 percentage points, respectively.

In value terms, China ($3.1B) remains the largest ball bearing supplier worldwide, comprising 25% of global exports. The second position in the ranking was held by Japan ($1.4B), with an 11% share of global exports.

From 2013 to 2024, the average annual growth rate of value in China amounted to +3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.3% per year) and Thailand (+7.8% per year).

The average ball bearing export price stood at $4,238 per ton in 2024, dropping by -61.5% against the previous year. In general, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2020 an increase of 15% against the previous year. The global export price peaked at $19,846 per ton in 2013; however, from 2014 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Japan ($16,590 per ton), while Thailand ($257 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Japan (-1.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global ball bearing market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles