Food & Beverage Bearings Market is Forecasted to Reach US$ 3.2 Billion in 2026, Says Stratview Research

The global Food & Beverage Bearings Market size was valued at US$ 2.5 billion in 2020 and is projected to reach US$ 3.2 billion by 2026, witnessing a market growth CAGR of 4.2% from 2021 to 2026, according to an analysis by Stratview Research.

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

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1837/food-and-beverages-bearings-market.html#form

Market Statistics:
Market Size in 2020: US$ 2.5 billion
Market Size in 2026: US$ 3.2 billion
Growth (CAGR): 4.2% during 2021-2026
Cumulative Sales Opportunity 2021 to 2026: US$ 17.51 billion
Leading Bearing Type: Ball bearing
Leading Material Type: Non-metallic bearings
Leading Application Type: Beverages
Leading Region: Europe
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Food & Beverage Bearings Market:

The global Food & Beverage Bearings Market is segmented based on bearing type, material type, application type and region.

Based on Bearing Type
• The food & beverage bearings market is segmented as equipment type, bearing type, material type, application type, end-user type, and region.
• Based on the bearing type, ball bearing is expected to remain the larger and faster-growing market segment during the forecast period.
• Ball bearings are used across the equipment used in the packaging and processing of food & beverages.
• Ball bearings are further segmented into deep groove ball bearings, angular contact ball bearings, and others.

Based on Material Type
• Based on the material type, the market is segmented as metallic bearings, non-metallic bearings, and hybrid bearings.
• Non-metallic bearings hold the dominating position in the market. Non-metallic bearings are extremely corrosion- and chemical-resistant.
• Further, non-metallic bearings do not transfer heat to other mechanical equipment and are self-lubricating; thus, they eliminate the possibility of failures from lack of maintenance.

Based on Application Type
• Based on the application type, the food & beverage bearing market is segmented as Bakery & Confectionery; Meat, Poultry & Seafood; Dairy Products; Beverages; and Others.
• Beverages hold the largest share of the pie.
• Bearings are used to reduce energy losses resulting from friction in moving machine parts and to enhance the efficiency and speed of the machines.
• A wide variety of bearings are available in the market for the beverage industry. Non-metallic bearings are the most common, as they offer high performance with extended operating life.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1837/food-and-beverages-bearings-market.html#form

Which region shows the most promising growth forecast and opportunity?

The analysis suggests that Europe is expected to remain the largest market for food & beverage bearings during the forecast period. This growth outlook is mainly attributed to the following:
• The food & beverage bearing market in Europe is also expected to grow at a significant rate during the forecast period. Germany, France, and Italy are the major demand generators in the region.

On the other hand, North America holds the second leading position driven by the USA. Asia-Pacific is expected to witness the highest growth in the global food & beverage bearings market owing to significant economic developments in the key economies such as China, India, South Korea, and ASEAN countries.

Food & Beverage Bearings Market Drivers:

Some of the key drivers listed in the report are given below.
• Major factors driving the food & beverage bearings market are rapidly shifting consumer eating habits
• Increasing disposable income of consumers in both developed and developing economies, a surge in the demand from the existing fleet of equipment.
• Growing need for reliable and cost-effective bearings from the equipment suppliers.

Competitive Landscape: Top Companies in the Food & Beverage Bearings Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:
• ABB Group
• AST Bearings
• LYC Bearings
• NSK
• NTN
• Rubix
• Schaeffler
• SKF
• Timken
• TMB

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the 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

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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