Bearing Market Present Scenario and Growth Prospects 2020 - 2030 | TMR Study

Transparency Market Research delivers key insights on the global bearing market. In terms of revenue, the global bearing market is estimated to expand at a CAGR of ~7% during the forecast period of 2020 to 2030, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global bearing market report.

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In the report, TMR predicts that the global bearing market would be largely driven by growth of automotive and aerospace industries, which is expected to continue to boost the market during the forecast period.

According to the bearing market report, the product segment includes ball bearing, roller bearing, plain bearing, and others. The demand for ball bearing is expected to rise at a higher pace at the global level. Light vehicle manufacturers are opting for ball bearings, which is one of the major market driving factors. Global light vehicle production is projected to increase in the coming years, as a result of its feature of consuming less fuel. Ball bearings are available at a lower cost in the global market. Furthermore, the compact nature of this product boosts its utility among end users.

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In terms of material, the bearing market is divided into plastic, ceramic, and metal. The 52100 chrome steel is the most commonly used material to produce the load carrying components in precision ball bearings, roller bearings, and tapered roller bearings. This material is used in inner and outer rings, balls, and rollers. Companies purchase chromium steel material for bearings as it has the ability to improve the performance of the bearings. Chromium also increases its lifespan.

Prominent Regions

Asia Pacific accounted for fastest growing share of the bearing market in 2019. Increasing demand from end user segments coupled with easy government rules and regulations for establishment of small & medium manufacturing units is expected to boost the market growth. Europe is the second largest market as a result of large number of automotive companies in the region.

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Key Players

Key players operating in the bearing market are NSK Ltd., Schaeffler AG, JTEKT Corporation, SKF, The Timken Company, MinebeaMitsumi Inc., NTN Bearing Corporation, Danaher, RBC Bearings Incorporated, and Rexnord Corporation.

Global Bearing Market: Segmentation

Bearing Market, by Product

Ball Bearing
Deep Groove
Angular Contact
Four-point Contact
Self-aligning
Others
Roller Bearing
Plain Bearing
Others
Bearing Market, by Material

Plastic
Ceramic
Metal
Chrome Steel
Stainless Steel
Carbon Steel
Brass
Others
Bearing Market, by Type

Unmounted Bearing
Mounted Bearing
Bearing Market, by Component

Balls
Rollers
Cages
Rings
Others
Bearing Market, by Application

Automotive
Construction
Aerospace
Power Transmission
Oil & Gas
Bearing Market, by Distribution Channel

Online
Offline

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Bearing Market, by Region

North America
U.S.
Canada
Rest of North America
Europe
U.K.
Germany
France
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America

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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

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