Pune India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the linear bearings market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the linear bearings market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global linear bearings market Norgren Inc, Ningbo Yinzhou Weixing Bearing, Schaeffler Technologies, Nippon Bearing, The Timken Company, NBI Bearings Europe, NBB-Bearing, JTEKT Corporation, Samick, MPS Microsystem, NTN Bearing, SKF, THK Co. Ltd. among others. To achieve a substantial market share in the worldwide linear bearings market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In a linear bearing, the movement is along a single axis and there is less friction, which makes it ideal for low friction movements on a smooth rod. Linear bearings are cheaper than round ball bearings, but they are easy to integrate with carriage designs. Linear bearings can be used for industrial and automotive purposes in a wide variety of applications. As a result of bearings, devices roll and friction is reduced between the bearing surface and the device as it rolls. The linear bearing is used for high precision linear motion on round shafts by using recirculating ball paths, enabling high precision linear motion on round shafts. With their high stiffness and low noise, linear bearings can bear heavy loads. As technology advances, linear bearings become more durable, which hinders the sales of aftermarket products. The growing number of counterfeit products also hinders the growth of the market for linear bearings. Furthermore, in the near future, manufacturers of linear bearings will have opportunities to take advantage of the introduction of smart bearings. Linear bearings market growth is driven by the rising demand for motor vehicles throughout the world. In addition, the defense and aerospace industries contribute to the growth of the linear bearing market through a rising demand for linear bearings.
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Scope of Linear Bearings Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Norgren Inc, Ningbo Yinzhou Weixing Bearing, Schaeffler Technologies, Nippon Bearing, The Timken Company, NBI Bearings Europe, NBB-Bearing, JTEKT Corporation, Samick, MPS Microsystem, NTN Bearing, SKF, THK Co. Ltd. among others |
Segmentation Analysis
Standard linear bearing is expected to be the fastest-growing segment in 2022.
The type segment includes superball bearing, flanged linear bearing, stainless linear bearing, ceramic linear bearing and standard linear bearing. The standard linear bearing segment is expected to witness the highest growth rate during the forecast period. There are various types of machinery and equipment that use standard linear bearings as support for shafts on which they move. Standard linear bearings provide low friction, free motion between two or more rigid parts, and they are commonly used for various types of machinery and equipment.
Automotive is expected to be the fastest-growing segment in 2022.
The application segments include agriculture, machinery & equipment, automotive, medical and others. The automotive segment is expected to witness the highest growth rate during the forecast period. In order to meet the increasing demands for automobiles with technologically advanced solutions, vehicle manufacturing must increase. The rise in demand for modern automobiles, along with the improvement in vehicle capabilities, has led to an increase in the demand for bearings in the automotive industry.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the linear bearings market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. With the increase in vehicle production across the region, the region is likely to witness major growth in demand for automobiles due to the increasing demand for bearings in the automobile industry. Bearing demand nationwide is expected to increase as Hatchbacks and SUVs become more popular across the United States.
Country Analysis
- Germany
Germany's linear bearings market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.24 billion by 2030, at a CAGR of 3.3% from 2023 to 2030.
As a result of their durability properties, linear bearings are widely used in many different types of applications, including agricultural applications on rolling-type measures where they provide support at the shaft which in turn allows the system to move smoothly with minimal downtime.
- China
China’s linear bearings market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 0.26 billion by 2030, at a CAGR of 3.6% from 2023 to 2030.
A major market is China in the linear bearing sector, and sales in the country are expected to grow by as much as 40% over the next few years owing to industrial expansion and an active aftermarket.
- India
India's linear bearings market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.21 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. A bright future for the automotive bearing market will also be seen in India as a result of government initiatives such as the ‘Make in India’ initiative, aimed at improving the nation's manufacturing sector.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand from the automobile and agriculture sector, propelling the growth of the market across the countries.
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