Marine Bearings Market: Revenue and growth prediction till 2026 with covid-19 impact analysis

The Marine Bearings Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Marine Bearings Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

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The research offers segment wise analysis of the Marine Bearings Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.

Based on the bearing type, the market is segmented as ball bearing, roller bearing, plain bearing, and others. Ball bearings are further classified as angular contact ball bearing, deep groove ball bearing, and others. In a similar way, roller bearings are further classified as tapered roller bearing, spherical roller bearing, and others. Roller bearings are expected to remain the largest segment of the market during the forecast period, driven by the growing usage of tapered roller bearings across the industry for widespread applications.

Based on the material type, the market is segmented as metallic bearings, non-metallic bearings, and other bearings. Metallic bearing is expected to maintain its dominant position in the market during the forecast period. The ever-present risk of corrosion in the marine industry is the biggest challenge for bearing manufacturers. The metallic bearings offer high-load handling and excellent wear resistance capacity, but they eventually corrode in the seawater, unless protected from it. Hybrid bearings and non-metallic bearings are gaining traction in the market owing to their excellent corrosion resistance in the marine environment.

Based on Application type, the market is segmented as shaft, rudder, deck equipment, and others. The shaft segment is projected to steer the market growth during the forecast period, owing to the pivotal role of marine shafts in transferring rotational power from the engines to the propellers, which convert them into translational motion. The Deck equipment segment that includes precision equipment like gyroscope, is expected to witness significant growth during the forecast period.

In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for marine bearings during the forecast period. The region has a dominant presence in the merchant marine, fishing vessel, and offshore vessel segments. China is a dominant player in the region and it alone produces more than 90 percent of the world’s shipping containers. Although the marine-bearing supplier landscape in the region has been negatively impacted by the COVID-19 pandemic, the market is expected to recuperate gradually from 2021 onwards.

Key Players
The following are the key players in the Marine Bearings Market-
• AB SKF
• Schaeffler Group
• Thordon Bearings Inc.
• Trelleborg AB
• The Timken Company
• Tenmat Ltd.
• CJR Propulsion Ltd.
• Emerson Bearing Co.
• Eliche Radice S.p.A.
• Waukesha Bearings Ltd.

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This release was published on openPR.