Marine Bearings Market is Forecasted to Reach US$ 5.2 Billion in 2026, Says Stratview Research

The global Marine Bearings Market is projected to witness a growth rate of 3.1% annually from 2021 to 2026, with an anticipated size of US$ 5.2 billion in 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Marine Bearings Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2026: US$ 5.2 billion
Growth (CAGR): 3.1% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Marine Bearings Market:
The global Marine Bearings Market is segmented vessel type, bearing type, material type, application type, end-user type and region

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 bearings, deep groove ball bearings, and others. Similarly, roller bearings are further classified as tapered roller bearings, spherical roller bearings, and others. Roller bearings are expected to remain the market's largest segment 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 into metallic bearings, nonmetallic 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, which includes precision equipment like a gyroscope, is expected to witness significant growth during the forecast period.

To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis Asia-Pacific is expected to be the largest and the fastest-growing market for marine bearings during the forecast period. This growth outlook is majorly attributed to the following-
• 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.

Marine Bearings Market Drivers:
The Marine Bearings Market is driven by several key factors, including:
Essential Role of Bearings in Marine Applications - Bearings are crucial for various vessel functions, including shaft support and winches, enabling rotational or linear movement while reducing friction and handling stress.
Recovery of the Marine Industry Post-COVID-19 - The market is expected to recover due to financial provisions and strategic adjustments by industry stakeholders.
Cost-Cutting and Capacity Reduction Strategies - Stakeholders focused on reducing costs and cutting down capacity to maintain market stability during the pandemic.

Top 10 Companies in the Marine Bearings Market:
Stratview Research has identified the following companies as the top market players:
• 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.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Marine Bearings Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Bearings Market: https://www.stratviewresearch.com/1379/bearings-market.html
• Fishing & Marine Ropes Market: https://www.stratviewresearch.com/2891/marine-ropes-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.