Bearings Market Size to exceed $140bn by 2022

Bearings Market size is estimated to exceed USD 140 billion by 2022; according to a new research report by Global Market Insights, Inc.
 

Growing high performance bearings demand to enhance operational reliability and fuel efficiency of automotive vehicles are supporting the bearings market growth over the forecast timeframe. The high-performance bearing reduces frictional losses and improves the service life of products. Industry participants are investing in developing high-performance and innovative bearing products to cater the increased demand. For instance, in April 2018, NSK Ltd. developed a hub 2.5 of tapered roller that offers friction reduction of 25% to 30% as compared to hub 2 design.

 

Request Sample Buy NowInquiry Before Buying

 

Increasing requirement to reduce the usage of hazardous materials from passenger and commercial vehicles are encouraging industry participants to develop new bearing materials. Several countries have limited usage of hazardous materials in passenger vehicles. For instance, in July 2015, China passed mandatory standards to prohibit the usage of 6 hazardous materials from passenger vehicles from 1st January 2016. The industry participants are developing new bearings without using lead in the commercial vehicle engine bearings. For instance, in December 2018, Rheinmetall Automotive AG developed new polymer bearings with zero lead content for commercial vehicle engines.
 

Bearings Market

Get more details on this report - Request Free Sample PDF
 

The proliferating air passenger traffic along with growing concerns to minimize CO2 emission from aviation sector are generating the requirement for enhancing the engine performance. The aircraft engine bearings are required to perform efficiently under high speed and thrust conditions. The development of new technologies including reconditioning of bearing, thereby enabling aircraft operators to lower the lifecycle cost along with reduction in CO2 emissions. For instance, in June 2019, Schaeffler AG announced that the company will showcase new solutions that uses one new and one reconditioned bearing to reduce the lifecycle costs. The new solution uses advanced heat treaded inner and outer rings and cooling lubricant is supplied by lubricant duct to enhance their performance.
 

Development of hybrid bearing technology that uses different material for inner and outer rings provide electric insulation to housing and thereby suitable for applications, where electric currents are present. The new hybrid bearings have higher speed capability, longer service life, high bearing stiffness, high wear resistance, and reduces risk of searing, thereby supporting the bearings market demand. The industry participants are continuously investing in R&D to develop new products. For instance, in September 2018, Ceramic Speed launched its new hybrid SLT bearing for the off-road market segment.
 

Browse key industry insights spread across 160 pages with 100 market data tables & 59 figures & charts from the report, “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 – 2022in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/bearings-market-report
 

The stringent standards and test methods pertaining to design, property, and performance requirement of bearing components for several applications including aerospace, automotive, and industrial applications will support the market growth. For instance, the American Society for Testing and Materials (ASTM) provide bearing design and material standards such as F2332 - 06(2013), F2162 - 01(2016), and F2953 – 12.
 

Roller bearings products will showcase significant growth in the bearings market owing to the development of next generation longer life products. For instance, in February 2019, JTEKT Corporation developed longer life tapered roller bearing for agricultural applications. The low friction ability with improved axial load resistance enhances the fuel efficiency. In addition, the advantage of roller bearing including compact structure, lightweight, high mechanical efficiency, and higher load carrying capacity will further propel the segment growth.
 

Mining & construction application will showcase considerable growth in the bearings market owing to rising construction activities across the globe. The development of several mining policies is accelerating investments in the sector, supporting the segment growth over study timeframe. For instance, in June 2018, Brazil rolled out new mining policy to attract the investor in mining projects. Further the frequent launch of new bearing products for mining equipment will further escalate the revenue generation. For instance, in July 2016, NTN Corporation developed spherical roller bearing with compact seal for transport conveyors used in the mining industry.
 

Europe holds a considerable revenue share in the bearings market owing to the presence of prominent automotive manufacturers in the region. The growing presence of low-cost carriers along with rising aircraft sales will further escalate the product demand. In addition, the automotive manufacturers are investing to upgrade their production plants in the region. For instance, in January 2018, Toyota Motor Manufacturing France (TMMF) announced additional USD 336.21 million investment for their car plant in Valenciennes, France.
 

Major players in the bearings market includes SKF, NTN Corporation, JTEKT Corporation, NSK Global, NBI Bearings Europe, Harbin Bearing Manufacturing Co., Ltd., Brammer PLC, and Schaeffler Group. The other participants are Daido Metal Company Limited, The Timken Company, and Rexnord Corporation. The strategic partnerships and product launch are among the prominent strategies applied by industry participants to enhance their presence and market shares. For instance, in June 2018, SKF and Siemens signed partnership agreement to improve on-line monitoring of several components including wheels and wheelset bearings to address the asset management obligation of railway systems.
 

Inquiry Before BuyingRequest Sample
 

The bearings market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2012 to 2022, for the following segments:

By product

  • Ball Bearings
  • Roller Bearings
  • Others

By Application

  • Automotive
  • Agriculture
  • Electrical
  • Mining & Construction
  • Railway & Aerospace
  • Automotive aftermarket
  • Others

The above information has been provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Italy
    • France
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree