Material Handling Bearings Market 2021: Detailed analysis and growth trends post COVID-19 outbreak

The Material Handling 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 Material Handling 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 Material Handling 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, cylindrical roller, spherical roller, and others. Roller bearings are expected to remain the largest segment of the market during the forecast period, driven by spherical roller bearings’ high-load carrying capacity and an ability to accommodate misalignment, helping the market stakeholders to obtain low maintenance costs and longer bearing service life.
Based on the application type, the market is segmented as conveyor, chain & hoist, forklift, and others. The conveyor is expected to remain the biggest demand generator of bearings during the forecast period. Conveyors are popularly used across industries as they lessen footprint by maximizing space, improve efficiency, boost accuracy, bring down production and labor costs, and enhance workforce safety. The forklift segment is likely to witness significant growth during the forecast period as they are an essential aspect of every material handling operation and aid in the movement of large or numerous products.
In terms of regions, Europe is expected to be the largest market for material handling bearings during the forecast period. Germany is the largest market in the region driven by the dominance of the country in industries such as automobile, electronics, food & beverage, and manufacturing, creating a huge demand for material handling equipment.
Asia-Pacific is expected to register the fastest growth during the forecast period, led by growing infrastructure activities and expanding manufacturing sector in emerging economies of the region. China is anticipated to be the fastest-growing market in the regional landscape.

Key Players
The following are the key players in the Material Handling Bearings Market-
• AB SKF
• Schaeffler Technologies AG & Co. KG
• NSK Ltd.
• The Timken Company
• NTN Corporation
• JTEKT Corporation (Koyo Bearings)
• Nachi-Fujikoshi Corp.
• C&U Group Ltd.
• LYC Bearing Corporation
• Thordon Bearings Inc.

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This release was published on openPR.