Ball bearings market reached a volume of 33 Billion Tons in 2017. The report further projects the market to reach a volume of 47 Billion Tons by 2023, exhibiting a CAGR of 6.2% over the forecast period.

On the basis of application, the global ball bearings market is classified as automobile, general engineering, mining and construction, railways, aerospace and shipping, agriculture, and others. Automobile represents the largest application segment accounting for the majority of the total global share.

On a geographical front, Asia-Pacific enjoys a leading position in the global bearing store market with the largest market share. Asia-Pacific is followed by Europe, North America, Middle East and Africa, and Latin America.

The market is fragmented in nature with the presence of various small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it hard for small players to survive.