Mining Bearings Market Projected to Grow at a Steady Pace During 2021-2026

The Mining 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 Mining 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 Mining 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, cylindrical roller bearing, spherical roller bearing, and others. Roller bearings are expected to remain the most dominant product type in the market during the forecast period, driven by their high-load-carrying capacity and ability to operate in case of shocks and misalignments, helping OEMs to obtain low-maintenance costs and longer bearing service life.

Based on the application type, the market is segmented as shovel; haul truck; dragline; crushing, screening & conveying; and others. Crushing, screening, & conveying is likely to be the leading segment of the market during the forecast period. Tapered, cylindrical, and spherical roller bearings reduce friction for greater operational efficiency in critical locations such as the swing system. The haul truck segment is expected to record healthy growth during the forecast period, driven by huge demand from both OE and aftermarket levels. The rotational movements in haul truck wheel ends are enabled by tapered roller bearings.

In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for mining bearings during the forecast period. China is not only the largest market in the region but also in the global marketplace, driven by the dominance of the country in the production of coal, gold, and most of the rare-earth minerals, creating a humongous demand for mining equipment. North America is also expected to register healthy growth during the forecast period, led by the presence of key players in the region, increasing mining activities in the USA, and the adoption of the latest technology in the mining process. The USA is anticipated to be the fastest-growing market in the regional landscape.

Key Players
The following are the key players in the Mining Bearings Market-
• AB SKF
• Schaeffler Technologies AG & Co. KG
• NSK Ltd.
• The Timken Company
• NTN Corporation
• Trelleborg AB
• C&U Group Ltd.
• LYC Bearing Corporation
• Thordon Bearings Inc.
• Harbin Bearing Manufacturing Co., Ltd. (HRB Group)

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This release was published on openPR.