Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "Global Bearings Market, By Product, By Material, By Industry, By Industrial, By Size, Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global bearings market held a market value of USD 76,418.9 Million in 2020 and is forecasted to reach USD 120,054.1 Million by the year 2027. The market is expected to register a CAGR of 6.7% during the forecast period.
Increasing utilization of bearing in motor, the demand for automotive electrification, government initiatives to drive the manufacturing sector, and increasing demand for bearings in energy-efficient cars are anticipated to boost the market growth. Also, bearings are used in all kinds of machines and equipment, such as household appliances, aerospace & defense equipment, farm machines, and automobile parts, among others. This wide range of applications is also estimated to boost market growth.
Despite the driving factors the increasing sales of counterfeit products are estimated to hinder the market growth. During the COVID-19 pandemic, the market experienced a decline in growth due to supply chain disruptions. The automotive sector, which is one of the largest consumers of bearings also faced losses, which negatively hampered the market growth.
Growth Influencers:
Increasing demand for bearings in energy-efficient cars
Modern automobiles, including cars, are aiming towards achieving maximum vehicle uptime, a better total cost of ownership, and utilization. Bearings are one of the most vital components for the performance enhancement of all the rotating parts. They also have applications in achieving lower system noise. The modern bearings are far more technologically advanced and refined as compared to the traditional bearings. They are increasingly being used in the manufacturing of modern powertrains, which are fuel-efficient as well as lead to lesser emissions. This is estimated to fuel the market growth.
Government initiatives to drive the manufacturing industry
Globally, most nations have favorable government regulations and policies to manufacture safe products. For instance, the regulatory framework in India is supported by 3 government institutions - the Ministry of Heavy Industries & Public Enterprises, the Bureau of Indian Standards, and the Ministry of Labour & Employment. The country also has favorable policies, such as the National Policy on Safety, Health & Environment at Workplace 2009 and National Capital Goods Policy 2016, among others. These help in setting standards & compliance on safety, health & environment. They also help in promoting exports, increase domestic production, technology improvement, mandatory standardization of machines & equipment by adopting ISO, reduce sub-standard imports through standardization, and skill development. All these factors support the manufacturing sector, hence boosting the market growth.
Regional Overview
On a regional basis, the global bearings market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region held the largest market share of around 48% owing to the presence of manufacturing facilities of various companies in the region. The Europe region held the second largest market share owing to the presence of many end-users in countries such as Germany and France, among others.
Competitive Landscape
Key players operating in the global bearings market include SKF, Schaeffler India Limited, Timken India Ltd., NRB Bearings Limited, National Engineering Industries Ltd (NEI), SB Industries Private Limited, JTEKT India Limited, NTN Corporation, THB Bearings Co. Ltd, Menon Bearings Ltd, and Other Major Players.
Major 6 players in the market hold about37% of the market share. These players are involved in mergers & acquisitions, product launches, and collaboration, among others. For instance, in August 2021, NTN Corporation announced the development of a low torque plastic bearing which is expected to contribute to lower fuel consumption in automobiles by reducing the torque by 30%, as compared to the conventional bearings.
The global bearings market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global bearings market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- The exports of bearings globally
The global bearings market report answers questions such as:
- What is the market size and forecast of the Global Bearings Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Bearings Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Bearings Market?
- What is the competitive strategic window for opportunities in the Global Bearings Market?
- What are the technology trends and regulatory frameworks in the Global Bearings Market?
- What is the market share of the leading players in the Global Bearings Market?
- What modes and strategic moves are considered favorable for entering the Global Bearings Market?
Key Topics Covered:
Chapter 1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. Supply Side (Revenue Analysis)
1.3.2. Demand Side (Spending Analysis)
1.3.3. Data Heads Tracked
1.3.3.1. Quantitative Research
1.3.3.2. Qualitative Research
1.3.4. List of Primary & Secondary Sources
1.3.4.1. Sample Size
1.3.4.2. Sample Distribution
1.3.5. Market Size Estimation
1.3.5.1. Assumption for the Study
1.3.5.2. Data Triangulation
Chapter 2. Executive Summary: Global Bearings Market
Chapter 3. Introductio
3.1. Automotive
3.2. Heavy Equipment
3.3. Railways
3.4. Machine Tools
Chapter 4. Global Bearings Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Software/ Hardware Developers
4.1.2. Operator
4.1.3. Platform Provider
4.1.4. End-users
4.2. Technology Lifecycle
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Degree of Competition
4.4. PEST Analysis
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Competition Dashboard
4.6.1. Market Concentration Rate
4.6.2. Company Market Share Analysis (%), 2020
4.6.3. Competitor Mapping
4.7. Impact Assessment of Covid-19
Chapter 5. Global Bearings Market Analysis, By Product
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
5.2.1. Ball Bearings
5.2.1.1. Deep Groove Ball Bearings
5.2.1.2. Self-Aligning Ball Bearings
5.2.1.3. Angular-Contact Ball Bearings
5.2.1.4. Thrust Ball Bearings
5.2.2. Roller Bearings
5.2.2.1. Tapered Roller Bearings
5.2.2.2. Spherical Roller Bearings
5.2.2.3. Cylindrical Roller Bearings
5.2.2.4. Needle Roller Bearings
5.2.3. Mounted Bearings
5.2.4. Linear Bearings
5.2.5. Slide Bearings
5.2.6. Jewel Bearings
5.2.7. Frictionless Bearings
Chapter 6. Global Bearings Market Analysis, By Size
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
6.2.1. 30 to 40 mm
6.2.2. 41 to 50 mm
6.2.3. 51 to 60 mm
6.2.4. 61 to 70 mm
6.2.5. 70 mm & above
Chapter 7. Global Bearings Market Analysis, By Material
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
7.2.1. Specialty Steel Alloys
7.2.2. Plastic
7.2.3. Ceramics
Chapter 8. Global Bearings Market Analysis, By Industry
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
8.2.1. Automotive
8.2.1.1. OEM
8.2.1.2. Aftermarket
8.2.2. Industrial
8.2.2.1. Agriculture
8.2.2.2. Railway
8.2.2.3. Mining
8.2.2.4. Aerospace
8.2.2.5. Machine Tools
8.2.2.6. Others
Chapter 9. Global Bearings Market Analysis, By Industrial
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
9.2.1. OEM's
9.2.2. Aftermarket
Chapter 10. Global Bearings Market Analysis, By Geography
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
10.2.1. North America
10.2.1.1. The U.S.
10.2.1.2. Canada
10.2.1.3. Mexico
10.2.2. Europe
10.2.2.1. The U.K.
10.2.2.2. Germany
10.2.2.3. France
10.2.2.4. Spain
10.2.2.5. Russia
10.2.2.6. Rest of Europe
10.2.3. Asia Pacific
10.2.3.1. China
10.2.3.2. India
10.2.3.3. Japan
10.2.3.4. Australia & New Zealand
10.2.3.5. ASEAN
10.2.3.6. South Korea
10.2.3.7. Rest of Asia Pacific
10.2.4. South America
10.2.4.1. Argentina
10.2.4.2. Brazil
10.2.4.3. Rest of South America
10.2.5. Middle East & Africa
10.2.5.1. U.A.E.
10.2.5.2. Saudi Arabia
10.2.5.3. South Africa
10.2.5.4. Israel
10.2.5.5. Rest of Middle East & Africa
Chapter 11. North America Bearings Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
11.2.1. By Product
11.2.2. By Size
11.2.3. By Material
11.2.4. By Industry
11.2.5. By Industrial
11.2.6. By Country/Region
Chapter 12. Europe Bearings Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
12.2.1. By Product
12.2.2. By Size
12.2.3. By Material
12.2.4. By Industry
12.2.5. By Industrial
12.2.6. By Country/Region
Chapter 13. Asia Pacific Bearings Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
13.2.1. By Product
13.2.2. By Size
13.2.3. By Material
13.2.4. By Industry
13.2.5. By Industrial
13.2.6. By Country/Region
Chapter 14. South America Bearings Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
14.2.1. By Product
14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
14.2.1. By Product
14.2.2. By Size
14.2.3. By Material
14.2.4. By Industry
14.2.5. By Industrial
14.2.6. By Country/Region
Chapter 15. Middle East & Africa Bearings Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
15.2.1. By Product
15.2.2. By Size
15.2.3. By Material
15.2.4. By Industry
15.2.5. By Industrial
15.2.6. By Country/Region
Chapter 16. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
16.1. SKF
16.2. Schaeffler India Limited
16.3. Timken India Ltd.
16.4. NRB Bearings Limited
16.5. National Engineering Industries Ltd (NEI)
16.6. SB Industries Private Limited
16.7. JTEKT India Limited
16.8. NTN Corporation
16.9. THB Bearings Co. Ltd
16.10. Menon Bearings Ltd
16.11. Other Major Players
For more information about this report visit https://www.researchandmarkets.com/r/1t5r9w
Attachment
