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Mar 17, 2025

Global Ball Bearings Market to Witness Steady Growth with a CAGR of +1.6% from 2024 to 2035 - News and Statistics - IndexBox

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform. IndexBox has just published a new report: World - Ball Bearings - Market Analysis, Forecast, Size,

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

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

The global ball bearings market is forecasted to see continued growth, with a CAGR of +1.6% in volume and +1.8% in value from 2024 to 2035. This growth is attributed to rising demand worldwide, leading to an increased consumption trend. By the end of 2035, the market is expected to reach a volume of 2.7M tons and a value of $42.1B in nominal prices.

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, global ball bearing consumption amounted to 2.2M tons, almost unchanged from the previous year. The total consumption volume increased at an average annual rate of +1.9% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 8.3%. Over the period under review, global consumption reached the peak volume at 2.4M tons in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The global ball bearing market revenue was estimated at $34.5B in 2024, stabilizing at 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% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $37B. From 2019 to 2024, the growth of the global market remained at a somewhat 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 United States (222K tons) ranked third in terms of total consumption 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. In the other countries, the average annual rates were as follows: 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 comprising a further 22%.

In terms of the main consuming countries, South Korea, with a CAGR of +4.0%, recorded the highest rates of growth with regard to market size 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 biggest increases were recorded for Italy (with a CAGR of +4.5%), while consumption for the other global leaders experienced more modest paces of growth.

For the fourth consecutive year, the global market recorded growth in production of ball bearings, which increased by 58% to 4.1M tons in 2024. Overall, production enjoyed resilient growth. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, ball bearing production totaled $40.1B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Global production peaked 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 most notable rate of growth in terms of production, amongst the main producing countries, was attained by Thailand (with a CAGR of +47.6%), while production for the other global leaders experienced more modest paces of growth.

In 2024, global ball bearing imports soared to 1.1M tons, growing by 18% on the year before. The total import volume increased at an average annual rate of +1.6% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 29%. Global imports peaked in 2024 and are likely to see steady growth in the immediate term.

In value terms, ball bearing imports shrank to $12.5B in 2024. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Over the period under review, global imports attained the peak figure at $15.6B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

Thailand was the main importing country with an import of about 309K tons, which accounted for 28% of total imports. Germany (79K tons) held a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by the United States (5.7%) and China (4.6%). Mexico (45K tons), Brazil (35K tons), Italy (31K tons), South Korea (28K tons), the Netherlands (25K tons) and Vietnam (23K tons) followed a long way behind the leaders.

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, China ($1.5B), Germany ($1.3B) and the United States ($1.2B) were the countries with the highest levels of imports in 2024, together accounting for 32% of global imports. Mexico, Italy, South Korea, the Netherlands, Brazil, Thailand and Vietnam lagged somewhat behind, together comprising 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.

The average ball bearing import price stood at $11,514 per ton in 2024, reducing by -26.4% against the previous year. In general, the import price showed a pronounced decline. The pace of growth was the most pronounced in 2020 an increase of 9.4%. Over the period under review, average import prices hit record highs at $15,839 per ton in 2014; however, from 2015 to 2024, import prices remained at a lower figure.

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.

In 2024, approx. 3M tons of ball bearings were exported worldwide; picking up by 125% against 2023. Over the period under review, exports showed prominent growth. As a result, the exports reached 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, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of $15.3B. From 2022 to 2024, the growth of the global exports remained at a lower figure.

Thailand was the key 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), creating 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. Thailand (+68 p.p.) and China (+3.4 p.p.) significantly strengthened its position in terms of the global exports, while Japan saw its share reduced by -10.9% from 2013 to 2024, 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 rate of growth in terms of value in China stood at +3.0%. In the other countries, the average annual rates were as follows: 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, with a decrease of -61.5% against the previous year. In general, the export price faced a deep reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 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 remained at a 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