Bearing Market

Posted by Rupali Dagade on September 9th, 2019

Bearing Market size is valued at US$ 95 Bn in 2017 and expected to grow at a CAGR of 6% in the forecasting period.

Rising demand for energy effective products is projected to drive the bearings market growth over the forecast period. Strict rules and standards to preserve the global environment have stimulated the development of innovative application-specific bearings. The demand for large-bore anti-friction bearings in the heavy machinery and manufacturing industries as well as in the renewable energy sector such as for wind turbines are expected to drive the market.

The growing focus of the developed countries to reduce the need for petroleum products for transportation and decrease the level of fossil fuels also drive the demand. The inclination of evolving pressure and heat resilient bearings for numerous requests in the renewable energy sector is expected to widen the chance for the bearings market size.

Bearing market

Bearing market is majorly segmented by the product, application, and region wise. Based on the product, the market is segmented as roller bearings and ball bearings. Under this, ball bearings are expected to dominate the global Bearing market in 2017 owing to its capability to decline friction even across minor contact surfaces. In addition, they are used to supplement radial and thrust load bearing abilities due to their capability to spin effortlessly. Based on applications, the market is segmented as railway & aerospace, electrical, automotive, agriculture, and mining & construction.

Geographically, the market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe held the highest market in 2017. Asia-Pacific, led by India, South Korea, Japan, and China bearing market size may show significant regional growth due to strong applications in food processing and medical & pharmaceutical industry. Easy availability of raw materials and labor may favour regional industry growth.

Key player across the bearing industry are BNL, SKF, Igus Inc., Boston Gear LLC., Saint-Gobain, Oiles Corporation, KMS Bearings, Kashima Bearings, Kilian Manufacturing, and Dotmar Engineering Plastic Products. Global Bearing industry market share is moderately fragmented owing to the presence of numerous regional industry participants.

Bearing Market Scope:

Global Bearing Market, by Product

• Ball Bearings

• Roller Bearings

• Others

Global Bearing Market, by Bearing Outer Diameter

• Below 5mm

• 6-10mm

• 10-21mm

• 22mm

• 23-32mm

• 33-40mm

• 41-45mm

• Others (>45mm)

Global Bearing Market, by Component

• Balls

• Rollers

• Rings

• Others

Global Bearing Market, by Application

• Railway & Aerospace

• Electrical

• Automotive

• Agriculture

• Mining & Construction

• Others

Global Bearing Market, by Region

• North America

• Europe

• Asia-Pacific

• Middle East & Africa

• South America

Key Players operating in the Bearing Market:

• SKF

• Saint-Gobain

• Oiles Corporation

• KMS Bearings

• Boston Gear LLC.

• Kashima Bearings

• Kilian Manufacturing

• Igus Inc.

• Dotmar Engineering Plastic Products

• BNL

• Timken Company NSK Ltd.

• NTN Corporation

• Wafangdian Bearing Co. Ltd

• Schaeffler Group

• Rexnord Corporation

• JTEKT Corporation 

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Bearing market outlook. The report encompasses the Bearing market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Bearing market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Bearing market positioning of competitors.

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