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Home ➤ Automotive and Transportation ➤ Automotive systems and accessories ➤ Bearings Market
  • Home ➤ Automotive and Transportation ➤ Automotive systems and accessories ➤ Bearings Market

Global Bearings Market By Product Type, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2032

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    • 1 Bearings Market Overview:
    • 2 Global Bearings Market Scope:
      • 2.1 Product Type Analysis
      • 2.2 Application Analysis
    • 3 Key Маrkеt Segments:
      • 3.1 By Product Type
      • 3.2 By Application
    • 4 Market Dynamics:
    • 5 Regional Analysis:
    • 6 Key Regions and Countries covered in the report:
    • 7 Market Share & Key Players Analysis:
    • 8 Маrkеt Key Players:

    Bearings Market Overview:

    The Bearings Market size is expected to be around USD 173.4 Bn by 2031 from USD 127.7 Bn in 2021, growing at a CAGR of 5.99% from 2021 to 2031.

    Almost every kind of machinery or equipment uses bearings. Everything from automotive components to agriculture and domestic machinery to defense and aerospace gear uses them. This element will influence the market shortly. More efficient bearings that require less upkeep and have a longer lifespan are in demand.

    Global Bearings Market Scope:

    Product Type Analysis

    With more than 38% of the overall revenue in 2021, the roller bearings segment dominated the market. By 2032, it’s anticipated that this market will continue to rule and overtake all others in terms of growth. These items support both radial and axial stresses and have reduced rotational friction. They are superior to their competitors in their ability to tolerate greater radial and restricted axial loads. The widespread use of roller bearings in various industries, including aircraft, heavy equipment, and electric vehicles, is anticipated to affect product demand positively.

    Information on ball bearings and other additional bearings is also included in this study. Ball bearings help to minimize friction because of their lower surface contact. These bearings are used more frequently in cars of all sizes, both four-wheeled and two-wheeled, because they can handle thrust or radial stresses. Throughout the projection period, this market sector should rise briskly.

    Bearings Market analysis

    Application Analysis

    The automotive industry led the market in 2021, accounting for over 45% of total sales. The high level of vehicle production worldwide is mainly responsible for this segment’s substantial market share. Increased demand for technologically superior automobiles fuels growth in vehicle production, which calls for instrumented goods. The demand for high-tech electric vehicles, supply chains, and improved capabilities in the automotive sector have increased the demand for bearings. The demand for bearings is anticipated to rise over the forecast period as the automotive aftermarket is anticipated to expand at a faster CAGR.

    The railway and aircraft industries will experience the fastest growth by 2032. This is brought on by increased travel demand, the requirement to replace aging fleets, strict environmental regulations, pressure on fuel prices, and better means to assist local and international transportation systems. The demand for railroad services is anticipated to rise due to the emerging countries’ rapid development in railroad building. Growing demand for single-aisle helicopters and light aircraft from developing nations contributes to the segment’s growth.

    Key Маrkеt Segments:

    By Product Type

    • Ball Bearing
    • Roller Bearing
    • plain bearing

    By Application

    • Automotive
    • Agriculture
    • Electrical
    • Railway & Aerospace
    • Others Applications

    Market Dynamics:

    The market is anticipated to expand due to an increased demand for specialized bearing solutions that may satisfy particular industry trends’ needs. The market will be driven by the expanding use of high-capacity goods for wind turbines. These items help wind turbines operate more reliably and efficiently, produce more electricity, and use less lubrication.

    Manufacturers are continually improving the designs of products to increase performance and energy efficiency. They create raceways, cages, rolling elements, and revised racing profiles using a specific material. Using lightweight materials, raw materials in high-performance bearing goods, and technological advancements in seal and oil lubrication technologies have created enormous potential for manufacturers. Direct electromechanical feature integration into bearings can increase efficiency and cut costs.

    Due to the growing demand for vehicles and manufacturing sector has started incorporating sophisticated sensor units into their products. Digital monitoring of axial movement, speed, acceleration, rotation speed, high load capacity, and deceleration is possible with these devices. The Agricultural Internet of Things (IoT) has also aided their adoption, which enables continuous monitoring of connected machinery, industrial equipment, household appliances, and farm equipment. This development has also had a favorable effect on the mature markets. A few suppliers are now offering smart bearings. The bearings’ state can be continuously monitored to stop errors from happening. The deployment of smart bearings is still in its infancy. Several more significant bearing manufacturers will soon offer smart bearings. Because defects may be quickly identified and avoided with smart bearings, their use is expected to grow during the forecast period.

    Regional Analysis:

    With a 36.5% revenue share in 2021, Asia Pacific was the region with the largest share of bearings. This region’s fastest revenue growth is anticipated, with more than US$ 95 billion in 2032. One of the biggest markets is China. Due to a robust aftermarket and the country’s rapidly rising auto production, sales are anticipated to soar in the upcoming years. Growth is anticipated to continue through 2032 due to India’s healthy mining and construction equipment market.

    Due to ongoing economic expansion and increased investment, the European market is anticipated to grow favorably during the projection period. The resurgence of the automotive industry and a favorable environment for fixed investments drive demand in the developed markets of Latin America, Western Europe, Japan, and the United States. In North America, there is likely to be an increase in the demand for expensive bearings, such as large-diameter custom-built bearings used in wind turbines and heavy machinery. The Middle East and Africa’s booming urban infrastructure is favorable to market growth.

    joint ventures

    Bearings Market value

    Key Regions and Countries covered in the report:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Spain
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Rest of Asia-Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • MEA
      • GCC
      • South Africa
      • Israel
      • Rest of MEA

    Market Share & Key Players Analysis:

    R&D is receiving more attention from businesses to manufacture application-specific bearings and boost productivity. Businesses are also adopting various methods, such as partnerships, mergers, and capacity expansions to expand their customer base and capture a larger market share. Manufacturers have invested in product development and production expansion to fulfill client needs better.

    Bearings Market share

    Маrkеt Key Players:

    • NTN Corporation
    • SKF
    • Daido Metal Company Ltd
    • JTEKT Corporation
    • Schaeffler AG
    • Aurora Bearing Company
    • NSK Global
    • NTN Bearing Corporation
    • Timken Company
    • Schaeffler Group
    • Other Key Players

    For the Bearings Market research study, the following years have been considered to estimate the market size:

    Attribute Report Details

    Historical Years

    2016-2020

    Base Year

    2021

    Estimated Year

    2022

    Short Term Projection Year

    2028

    Projected Year

    2023

    Long Term Projection Year

    2032

    Report Coverage

    Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.

    Regional Scope

    North America, Europe, Asia-Pacific, South America, Middle East & Africa

    Country Scope

    United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa

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    Frequently Asked Questions (FAQ)

    What is the size of the automotive bearings market in 2021?

    The Automotive bearing market size is US$ 127,721.2 million in 2021.

    What is the projected CAGR at which the Bearings market is expected to grow at?

    The Bearings market is expected to grow at a CAGR of 7.6% (2023-2032).

    List the segments encompassed in this report on the Bearings market?

    Market.US has segmented the Bearings market by geography (North America, Europe, APAC, South America, and the Middle East and Africa, Latin America), By Product Type, the market has been segmented into Ball Bearing and Roller Bearing, aerospace segment. By automotive applications, the market is further divided into Automotive, Agriculture, Electrical, Railway & Aerospace, and Others Applications.

    List the key industry players of the Bearings market?

    NTN Corporation, SKF, Daido Metal Company Ltd, JTEKT Corporation, NSK Global, Schaeffler AG, Timken Company, deep groove ball bearings, Schaeffler Group, NTN Bearing Corporation, Harbin Bearing Manufacturing Co. Ltd., and Other Key Players, are the key vendors in the Bearings market.

    Which region is more appealing for vendors employed in the Bearings market?

    Asia-Pacific accounts for the highest revenue share of 36.5%. Therefore, the Bearings market in Asia-Pacific is expected to garner significant business opportunities over the forecast period.

    Name the regions for the production of motor vehicles?

    Japan and Western Europe are regions for the production of motor vehicles.

    Which segment accounts for the greatest market share in the Bearings Market?

    With respect to the Bearings market, vendors can expect to leverage greater prospective business opportunities through the roller bearings segment, as this area of interest accounts for the largest market share.

    Market Research Report Cover
    Bearings Market

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    • NTN Corporation
    • SKF
    • Daido Metal Company Ltd
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    • Timken Company
    • Schaeffler Group
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