Universal $69.15 Bn Bearings Market Size 2022 | Schaeffler Group, NTN Corporation, SKF Group, NSK Global, JTEKT Corporation, and Timken

The Report “Bearings Market by Product (Ball Bearings, Roller Bearings and Others) and Application (Automotive, Agriculture, Electrical, Mining & construction, Railway & Aerospace, Automotive Aftermarket and Others) – global forecast TO 2022”, issued by crystal market research, the market has come across significant development in the past few years and is predictable to grow considerably over the forecast period.

The major factor that is driving the Bearings Market is the wide range of applications. There is growth in the manufacturing of heavy machinery across the globe due to increased industrialization. Shifting trend of power generation in various economies towards renewable energy is increasing the use in wind and water turbines, which use bearings increasing the power generation, minimizing the use of lubrication and increasing the performance & reliability of the turbines. Combining the electro & mechanical features are improving the performance and at the same time reducing the size & cost.

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The main restrain of the Bearings Market is the development of various similar products and imitation of products available which in turn is lower the confidence of users in the products.

In 2012, the global bearings market was valued around USD 33.00 billion and is anticipated to reach approximately USD 69.15 billion while maintaining a compound annual growth rate (CAGR) of 6.89% during the forecast period owing to the growing manufacturing of heavy machinery.

Competitive Outlook and Trend Analysis:

The major market players in the global bearings market include Schaeffler Group, NTN Corporation, SKF Group, NSK Global, JTEKT Corporation, and Timken. The market players are increasingly concentrating on research and development projects to produce application precise bearings and enhance their efficiency. Extreme competition has directed producers to spend more for product improvement to fulfill requirements of customers efficiently. For example, NTN Corporation has formulated high-speed deep groove ball bearing that is a grease lubrication type with superior rotational speed.

Bearings - Segment Overview:

Bearings Market is segmented by Product into Ball Bearings, Roller Bearings and Others and by Application into Automotive, Agriculture, Electrical, Mining & construction, Railway & Aerospace, Automotive Aftermarket and Others.

The Product segment sections are further divided into; Ball Bearings into Deep Groove bearings and Others and Roller Bearings into Split bearings, Tapered bearings and Others. Ball Bearings are leading the market during the year 2015 while Roller Bearings will be dominating during the forecasted span.

The Automotive section is leading the Bearings Market in the application segment owing to growth in the production of automotive across the globe. Also the Railway & Aerospace will show rapid growth in market due to increasing number of passengers using these modes of transportation.

The global bearings market is segmented as follows :

Bearings - By Product:

Ball Bearings
Deep Groove bearings
Others
Roller Bearings
Others
Tapered bearings
Split bearings
Others

Bearings - By Application:

Automotive
Agriculture
Electrical
Mining & construction
Railway & Aerospace
Automotive Aftermarket
Others

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Bearings - Application Outlook and Trend Analysis:

In 2015, the automotive section ruled the global market. The expansion in the automotive production, around the world, is expected to drive their demand. The increasing demand for technologically advanced solutions integrated vehicles is resulting in a boost in vehicle production that demands instrumented products. Though, the aerospace & railway section is expected to be responsible for the fastest growing market, due to the attributed rise in a number of commuters traveling through public transportation. The accessibility of enhanced ways to aid local and worldwide transportation systems also presents market growth opportunities. Also, the demand in the railway sector is rising owing to the rapid construction of the railway in the developing nations.

Bearings - By Region:

North America - U.S, Canada, Mexico

Europe - Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Bearings - Regional Overview:

Asia Pacific region is leading the shares of the Bearings Market owing to speedy gains due to sales. China is the primary market for sales of bearings in the region due to faster growth in the motor vehicles & machinery sector and also being the large market for aftermarket of motor vehicle and industrial equipment’s repair. Also in India the mining and construction sector are fueling the market of bearings.

Bearings - List of Tables:

Table 1.Global Bearings Market, By Product, 2012-2022 ($Million)
Table 2.Ball Bearings Market, By Type, 2012-2022 ($Million)
Table 3.Ball Bearings Market, By Region, 2012-2022 ($Million)
Table 4.Deep Grove Bearings Market, By Region, 2012-2022 ($Million)
Table 5.Other Types Market, By Region, 2012-2022 ($Million)
...

Bearings - List of Figures:

Figure 1.Global Bearings Market Share, By Product, 2016 & 2025
Figure 2.Global Bearings Market, By Application, 2016, ($Million)
Figure 3.Global Bearings Market, By Region, 2016, ($Million)
Figure 4.Brammer PLC: Net Revenues, 2014-2016 ($Million)
Figure 5.Brammer PLC: Net Revenue Share, By Segment, 2016
...

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What our report offers:

- Market share assessments for the regional and country level segments

- Market share analysis of the top industry players

- Strategic recommendations for the new entrants

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends.

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements

Continued…

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