Press release
What's Driving the Bearings Market Growth? Brammer Group, JTEKT North America Corporation, NSK, NTN Corporation, RBC Bearings, Rexnord Corporation, Schaeffler Group, SKF, The Timken Company
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Rising demand for bearings from railway & aerospace and automotive sectors is predicted to drive the bearings market growth over the coming years. Technological breakthroughs coupled with high R&D expenditure are anticipated to boost the industry growth in the near future. Bearings, which help in inexpensive wind energy generation have found growing acceptance across various wind turbine applications.
The industrial heavy machinery sector is the largest end user market, followed by automobile sector which can't run without this product. The future growth of this market will come with an increase in requirement in aerospace and railway sectors. Asia Pacific is the greatest and fastest rising market in this sector, followed by China. Asia Pacific bearings market was USD 36 billion in 2014 and is projected to gain USD 68 billion by 2022 with a CAGR of 8% between years 2015-2022.
Increase in number of commuters taking advantage of public transportation is likely to be the key facet of rise in demand. Substantial growth is expected in this market because of high requirement for tapered roller components in wheels, gearboxes and journal applications along with ceramic coated ones used in traction-motor. They have small surface contact thus help in reducing friction which makes vehicle run smoothly and hence its demand can't fall in future. It has a rising growth with approximately 42% of the overall share in 2014 and is expected to enjoy 78% in the coming year.
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It is anticipated that Europe will achieve USD 32 billion by 2022 which was USD 18 billion earlier in 2014. One more example of rising market for this product is North America which is expected to get USD 25 billion by 2022. Bearings market share is highly productive. The list of top most companies includes Timken, NSK Global, SKF, Schaeffler Group, JTEKT and NTN Corporation and these companies are contributing almost 60% of overall industry share. However, counterfeiting is a major problem which can be challenging to this market in near future. It is a problem faced by many industries and is a threat for them.
Table of Contents (ToC) of the report:
Chapter 4 Bearings Market Product Insights
4.1 Global bearings market share by product, 2014 & 2022
4.2 Ball Bearings
4.2.1 Global ball bearings demand, by region, 2012 - 2022
4.2.1.1 Global deep groove ball bearings (DGBB) demand, by region, 2012 - 2022
4.2.1.2 Global other ball bearings demand, by region, 2012 - 2022
4.3 Roller Bearings
4.3.1 Global roller bearings demand, by region, 2012 - 2022
4.3.1.1 Global split roller bearings (SRB) demand by region, 2012 - 2022
4.3.1.2 Global tapered roller bearings (TRB) demand by region, 2012 - 2022
4.3.1.3 Global other roller bearings demand, by region, 2012 - 2022
Chapter 5 Bearings Application Insights
5.1 Bearings market share by application, 2014 & 2022
5.2 Automotive
5.2.1 Global automotive bearings demand, by region, 2012 - 2022
5.3 Agriculture
5.3.1 Global agriculture bearings demand, by region, 2012 - 2022
5.4 Electrical
5.4.1 Global electrical bearings demand, by region, 2012 - 2022
5.5 Mining & Construction
5.5.1 Global mining & construction bearings demand, by region, 2012 - 2022
5.6 Railway & Aerospace
5.6.1 Global railway & aerospace bearings demand, by region, 2012 - 2022
5.7 Automotive Aftermarket
5.7.1 Global automotive aftermarket bearings demand, by region, 2012 - 2022
5.8 Other
5.8.1 Global bearings demand in other applications, by region, 2012 - 2022
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/bearings-market-report
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