Bearings Market Size By Application (Agriculture, Electrical, Automotive, Mining & Construction, Railway & Aerospace), By Product (Roller Bearings, Ball Bearings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Japan, China, India, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022

Published Date: Mar 2016 | Report ID: GMI111 | Authors: Vitika Verma, Amulya Agarwal Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Bearings Market size was over USD 79 billion in 2014 with 7.6% CAGR estimation from 2015 to 2022.

India Bearings Market size, by application, 2012-2022 (USD Billion)

India Bearings Market size, by application, 2012-2022 (USD Billion)

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Growing demand for automobiles and auto components has fueled the global bearings market size. Technological advances such as lubrication technology, seal technologies and lightweight materials in high-performance products are creating huge opportunities for companies accounting for bearings market share. Moreover, increase in demand for commercial vehicles and passenger cars in the emerging countries including India and China are expected to fuel bearings market growth over the forecast timeframe.

Increase in the demand for high performance bearings have led manufacturers to integrate advanced sensors units in the bearings market products. The sensor units help in assisting digital monitoring of axial movement, rotation speed, acceleration, deceleration and load carrying capacity.

Manufacturers in the bearings industry invest in R&D in order to address rising competition by offering innovative products. For instance, companies are offering integrated products that drastically reduces the number of bearings required in an assembled product and minimizes the overall cost of the equipment. Moreover, it improves the reliability and shelf-life of the product.

Rising availability of counterfeit products is posing a great threat to the businesses across global bearings markets. Engineers are under constant pressure of to identify the low-quality counterfeit bearing before assembling the product unit as they are extremely difficult to detect. Financial losses associated with the counterfeit products are difficult to enumerate. Moreover, rising overhead costs owing to the requirement of anti-counterfeit personnel along with additional staff to handle customer complaints may affect the bearings market size.

Bearings Market By, Product 

Ball bearings market size dominated the revenue in 2015 and is projected to witness significant growth at a CAGR of 7.5% from 2015 to 2022. Increasing in investments across sectors including railway and aerospace is expected to fuel the segment growth. In addition, growth in the air traffic have increased the demand for commercial aircraft that may drive the sales of these bearings market products in the coming years.

Increase in the demand for fuel-efficient passenger vehicles across Asia Pacific is anticipated to propel the bearings market share. Passenger cars use large number of bearings to increase energy efficiency by minimizing energy loss caused by friction. Several major players are investing in R&D to develop innovative products. For instance, increasing adoption of ceramic ball bearings may propel the demand of this bearings market segment. These are lightweight and enhance quality by reducing energy consumption and friction during operations.

Bearings Market By, Application 

Growth in the automotive production across the globe is anticipated to fuel the demand across the segment. Automotive bearings market share dominated the industry in 2015. The demand for vehicles with technologically advanced solutions is propelling the growth. Rise in vehicle manufacturing have fueled the demand for instrumented products. Electronic stability control and anti-lock braking system are regulated with assistance of the vibration data and wheel speed collected by these devices contribute towards the bearings industry growth.  

Rising trend towards application-specific solutions is anticipated to drive the bearings market size over the forecast timeline. For example, verticals such as aerospace and defense relies profoundly on instrumented bearings. Such bearings offer increased energy efficiency and provide assistance to ensure safety with low error rate.

Bearings Market By, Region

Asia Pacific dominated the market in 2015 and is expected to grow at a CAGR of over 8% from 2015 to 2022. Growth in the automotive and industrial machinery production, coupled with attractive China bearings market share will be responsible for growth across the region. Moreover, improving infrastructure and manufacturing sector coupled with the rise in the government funding activities may impel the bearing market growth over the future. Robust mining and construction equipment market in India further facilitated the industry growth.

Competitive Market Share

Bearings market players include Timken, Brammer PLC, NSK Global, Daido Metal Company Limited, SKF, Minebea Company Limited, Schaeffler Group, JTEKT and NTN Corporation, among others. In order to curtail the distribution of counterfeit products, companies are participating in investigation programs such as high-profile raids.

The aftermarket demand from verticals such as automotive and industrial machinery is expected to boost bearings market size. The establishes players have been concentrating on improving share in the replacement arena. Recently, in 2016, NTN introduced a comprehensive loose bearing program that is designed entirely for automotive aftermarket customers. The aftermarket bearing program allow customers to offer high quality bearing by leveraging the immense manufacturing power of NTN, BCA, and NTN-Bower.

Bearings Industry Background

The global bearings market share is driven by developments and innovations leading to the increase in the adoption across several industry sectors such as railway & aerospace and automotive aftermarket. Intense competition has led manufacturers to invest in product developments to better serve the customers requirement. For instance, NTN Corporation has developed grease lubrication type high-speed deep groove ball bearing with enhanced rotational speed.

What Information does this report contain?

Historical data coverage: 2012 to 2014; Growth Projections: 2015 to 2022.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Premium Report: Details

Pages: 160
Tables: 100
Charts / Figures: 59
Companies covered: 16
Countries covered: 11

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