Business Survey 2017 - Global Bearings Market Size, Regional Outlook Forecast Re
Posted by akshayparmar on September 26th, 2017
Bearings Market (By End-use Application (Industrial Heavy Machinery (Construction and Mining, Agriculture), Automotive, Electronics and Electrical, Aerospace, and Other End-use Applications), By Type (Plain Bearings, Ball Bearings, Roller Bearings, and Others) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 - 2025, the global bearings market is expected to expand at a CAGR of 7.3% from 2016 to 2023, exceeding US$ 161.9 Bn by 2025.
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A bearing is a machine element that is used to enable linear or rotational movement, while handling stress and reducing friction. Bearings enable machines/devices to roll, thereby reducing friction with the surface. Bearings reduce the friction by substituting sliding friction with rolling friction. Thus, they are widely used to provide superior linear motion or rotation around a fixed axis. The global market for bearings is highly matured and is poised to exhibit steady growth during the forecast period 2016 – 2023.
The global bearings market is matured and concentrated. The top four bearing manufacturers account for the lions share in the global market. GE SKF Group, NSK Ltd., The Timken Company, Schaeffler Technologies GmbH & Co. KG, and NTN Corporation are identified as the leading bearings manufacturers worldwide. Other manufacturers including Minebea Co. Ltd., Spyraflo, Inc., JTKET Corporation, Federal Mogul Corp., Brammer Plc, HKT Bearings Ltd., C&U Group Company Limited, and NBI Bearings Europe, S.A. among others have been marked as promising and emerging players in the global bearings market. The global market for bearings is price competitive. This has resulted in price wars, and is consequently leading to profit crunching. The innovations in the market are primarily directed towards the development of new materials (ex-silicon nitride ceramics). In addition, focus on developing efficient and application specific bearings is the prime strategy adopted by manufacturers in the market.
2. Executive Summary
3. Global Bearings Market Analysis
4. Global Bearings Market Revenue, By Type, 2015 – 2025 (US$ Bn)
5. Global Bearings Market Revenue, By End-use Application, 2015 – 2025 (US$ Bn)
6. North America Bearings Market Analysis, 2015 – 2025 (US$ Bn)
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