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Rolling Bearing Steel Market Leading Companies NSK Ltd., SANYO SPECIAL STEEL Co., Ltd., Benxi Iron & Steel (Group) Co., Ltd., Nanjing Iron and Steel Co., Ltd, JFE Steel Corporation, The Aichi Steel Group, Suzhou Suxin Special steel Co. Ltd

06-22-2019 09:13 AM CET | Industry, Real Estate & Construction

Press release from: Coherent Market Insights

Rolling Bearing Steel

Rolling Bearing Steel

Rolling bearing steel is a basic component used in numerous machines and motors, which are capable to carry heavy loads. Steel balls or rollers are placed between two bearing steel rings known as races, which reduce friction. It is made of steel, along with different types of materials used in them such as high carbon chromium, stainless hardening and others, which makes steel bearing highly resistant and increases its fatigue strength owing to which it is demandable in numerous industries.

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Market Dynamics

Growing automotive industry across the globe, is a key driving factor for growth of the rolling bearing steel market as rolling bearing steels are widely used in automobile engines, powertrain, and others. According to International Organization of Motor Vehicle manufacturers, in 2016, the automotive industry produced 94,976,569 unit of vehicles (including cars and commercial vehicles), globally, which increased to 97,302,534 unit of vehicles in 2017. Rising production of vehicles may propel the rolling bearing steel market in the near future.

Regional Outlook

North America is expected to be dominant market over the forecast period, owing to the presence of established automotive players such as General Motors, Ford, and Fiat Chrysler in the region. According to the International Organization of Motor Manufacturers, in 2016, the U.S. automotive industry produced about 12,198,137 unit of vehicles.

Asia Pacific is expected to have the substantial market share in the rolling bearing market during the forecast period. China is expected to hold significant position in the market in this region. With the long presence of large number of steel producing manufacturing units and easy availability of steel, it may propel the rolling bearing steel market in the coming decade.

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Key Players

Key players operating in the rolling bearing steel market are NSK Ltd., SANYO SPECIAL STEEL Co., Ltd., Benxi Iron & Steel (Group) Co., Ltd., Nanjing Iron and Steel Co., Ltd, JFE Steel Corporation, The Aichi Steel Group, Suzhou Suxin Special steel Co. Ltd., Dongbei Special Steel Group Co., Ltd., and Henan Jiyuan Iron & Steel Group Co Ltd among several others.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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