Worldwide Bearing Market | Key Players : NTN Corporation (Japan), Svenska Kullagerfabriken AB (Sweden), Schaeffler Group (Germany), NSK Ltd. (Japan) and Many More

Market Research Future published a research report on “Bearing Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Global Bearing Market Information Report, by Product (Plain Bearings, Ball Bearings, Roller Bearings and others), by Application (Automotive, Electronics, Aerospace, Construction and others) and By Region - Global Forecast to 2022

NTN Corporation (Japan), Svenska Kullagerfabriken AB (Sweden), Schaeffler Group (Germany), NSK Ltd. (Japan), The Timken Company (U.S.), JTEKT Corporation (Japan), Robert Bosch GmbH (Japan), The Danaher Corporation (U.S.), GKN plc.(U.K.) Minebea Mitsumi, Inc. (Japan) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Bearing Market.

Global Bearing Market – Overview

Bearings are largely used in the automotive and other machinery to constraint the relative motion to the motion desired and reduce friction between the moving parts of the machinery. The global bearing market is expected to be driven by the growth in manufacturing of durable goods. Furthermore, the increasing application of bearings in wind turbines is expected to drive demand of the market over the forecast period. Wind turbines utilize these products to enhance turbine reliability & performance, reduce lubricant consumption, and increase energy production. Moreover, growing investment in railways and aerospace also expected to fuel the demand of the market. However, increased adoption of pre-owned bearings and lack of product differentiation are the major factors may hamper the growth of the market.

According to a recent study report published by the Market Research Future, The global market of Bearing is booming and expected to gain prominence over the forecast period. The Global Bearing market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 – 2023).

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Global Bearing Market - Competitive Analysis

Global Bearing Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Bearing manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Bearing for every application.

Industry News

In November 2015, Kaman Corporation announced that its aerospace segment has completed the acquisition of GRW Bearing GmbH (GRW), a German-based designer and manufacturer of super precision, miniature ball bearings.

In June 2015 NKE launched the new rolling bearings for agricultural machinery. These bearings possess a rotating union between a disc-shaped tool and its mounting arm.

SKF and GE Oil & Gas signed a non-exclusive collaboration agreement to further develop the use of active magnetic bearing technologies within the oil and gas sector.

RBC Bearings Incorporated, a leading international manufacturer of roller and ball bearings for the industrial, defense and aerospace industries, announced that it has acquired the assets of CBS/Coastal Bearing Services for approximately USD 3.7 million.

Bearing Market - Segmentation

Global Bearing Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.

On the basis of Product, market is segmented into Plain Bearings, Ball Bearings, Roller Bearings and others. Ball bearing dominating the product segment of bearing market. Ball bearing reducing the friction. They are widely used in both two and four-wheeled automobiles. However, roller bearings is expected to grow at a highest CAGR during the forecast period. The wide adoption of roller bearings by numerous industries, including home appliances, automobiles, and the aerospace industry, is expected to positively impact the product demand.

On the basis of Application, market is segmented into Automotive, Electronics, Aerospace, Construction and others. Automotive dominating the application segment of the bearing market. Increasing the implementation of technologically enhance solutions in the automotive sector is driving the demand of the bearing market. Furthermore, the anti-lock braking system used in automobiles is also pouring the growth of bearing market.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Global Bearing Market - Regional Analysis

Asia Pacific region dominates the global bearing Market and is expected to witness the highest growth during the forecast period. Huge growth in the automotive sector in the Asia Pacific region is the major factor driving the growth of the market. Further, the strong construction and mining equipment market in India is estimated to facilitate the industry growth. China, Japan, India, and Singapore are the major market in Asia Pacific region.

North America is second largest market region for the bearing. Increase in value of private construction, numerous government regulation to drive the energy & power industry, and increasing investment in the aerospace & defense sector are the factor pouring the growth of the market. The U.S. is the largest market for bearing in North America. Germany is another major market for the bearing. Germany is one of the most industrialized countries in Europe. Thus the demand for such bearing is increasing across heavy industries.

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