Press release
Plain Bearing Market 2018 Key Players are Schaeffler Technologies, SKF, Timken, JTEKT, NTN, Minebea Mitsumi, SGL, THK, NSK, IGUS, Boston Gear, PBC Linear, Thomson Industries, Zollern, C&U, Federal Moghul Holding
Plain Bearing Market
Global Plain Bearing Market by potential applications in oilfield machinery, construction machinery, automotive, aerospace, industrial and energy industry. High durability and performance along with cost effective production are among key factors driving the industry growth.
Growth in global automotive production due to increasing consumer spending on automobiles supported by the vehicle loan offered by financial institutions will propel the plain bearing market. As per OICA, global automotive production exceeded 94 million units in 2016. Moreover, increasing product usage in several industrial applications including production lines, elevators and conveyor belts will further propel industry share.
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Increasing demand for fuel efficient passenger vehicles due to stringent government regulations particularly in Europe and North America will stimulate plain bearing market penetration. Passenger cars utilize substantial number of components to enhance energy efficiency by minimizing energy loss produced by friction. Numerous key industry players are investing in research and development initiatives to advance product ranges with minimum energy losses. For instance, increasing adoption of ceramic ball components due their improved strength has enhanced product scope.
Top Key Players:-
The key players of global Plain Bearing Market are Schaeffler Technologies, SKF Group, Timken, JTEKT Corporation, NTN Corporation, Minebea Mitsumi and SGL Group. Other prominent players are THK Company, NSK, IGUS, Boston Gear, PBC Linear, Thomson Industries, Zollern, C&U Group, Federal Moghul Holding Corporation and Austin Engineering Company.
Regional Segmentations:-
Asia Pacific plain bearing market holds largest industry share owing to increasing demand for automobiles during the forecast timeframe. Rapid urbanization and development of large number of manufacturing facilities in several emerging economies including China and India will further propel industry size. Easy availability and competitive prices of product components will further support industry growth. Rising product demand as a functional support in infrastructural machinery will substantially stimulate product usage in the construction industry.
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Plain bearing market is segmented based on design as angular contact, journal, linear, thrust and other products. Journal type is estimated to hold notable share in the overall industry share. Increase usage of journal components in comprehensive equipment including aerospace, automobile, energy and construction industry will fuel industry size. Excellent strength and shock resistance along with no rolling component fittings provide positive outlook for product penetration. The product work proficiently in heavily loaded systems, wherein sufficient clearance and lubrication are provided.
Based on end use, the industry share is further segmented as aerospace, agriculture & gardening, automotive, construction, energy, industrial and oilfield machinery. Plain bearing market is led by automotive industry with notable industry share. High application scope in automotive parts including belt tensioners, throttle valves, seating systems, variable intake systems, center armrests, steering systems, convertible top systems, door hinges, pedal systems, stub axels and gear actuators will fuel plain bearing market size. Furthermore, high wear & fatigue resistance, limited maintenance, high load carrying capacity and lightweight properties will support product penetration.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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