Smooth Progress Projected for Global Ceramic Ball Bearings Market
Electric motors currently represent the largest application for ceramic ball bearings, and the U.S. constitutes the biggest market.
The global ceramic ball bearings market reached a value of $886 million in 2017, according to a report available from Research and Markets. Looking forward, the market is expected to climb to nearly $1.7 billion by 2023, growing at a CAGR of around 11% from 2017-2023.
Hybrid ceramic ball bearings currently account for the majority of the market, compared to full ceramic ball bearings. Silicon nitride and zirconia are commonly used to produce ceramic ball bearings; silicon nitride is generally the most popular raw material for this application.
Applications for ceramic ball bearings include electric motors, vehicles, underwater equipment, lab equipment, aerospace and others. Electric motors currently represent the largest application, and the U.S. constitutes the biggest market.
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