2 April 2019: Bearing Market was million US$ in 2018 and is expected to million US$ by the end of 2025, growing at a CAGR of between 2019 and 2025.This report studies the Bearing market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global Bearing market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
Global Bearing Market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Bearings, also known as “anti-friction components”, are modules that decrease resistance and drive the mobility of components.
The factors that propel the growth of the market include increasing demand, rapid urbanization & industrialization, product development & technological innovations, increase in the use of bearings in heavy machinery, the increase in demand for application-specific bearings, the emergence of sensor bearing units, surge in production of motor vehicles in the developing countries. On the other hand, there are factors that may hamper the growth of the market including as fluctuating prices of raw materials.
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The market may be explored by product type, outer diameter, application, end user, distribution channel, and geography. market may be explored by product type as roller bearings, unmounted ball bearings, plain bearings and others. The “ball bearings” segment led the market in 2015 and will continue to lead in the forecast period. Based on outer diameter, the market may be classified as 41mm-45mm, 33mm-40mm, 23mm-32mm, 22mm, 10mm-21mm, 6mm-10mm, Below 5mm and Others (>45mm).
The key applications that could be explored in the bearing market include electrical, automotive, agriculture, railway & aerospace, mining & construction and others. The “Automotive Segment” segment led the market in 2016 and will continue to lead in the forecast period. The key factors that may attributed to the growth of market includes increasing usage of vehicle and technological advancement.
North America is expected to account a significant share in the market owing to increasing demand from end user industries. In this region, US and Canada are key markets for bearing market. Some of the key players that fuel the growth of the bearing market comprise NSK Ltd., GGB Bearing Technology, Daido Metal Company Ltd., Asahi Seiko Co., Ltd., Harbin Bearing Group, ThyssenKrupp AG, The Timken Company, Rexnord Corporation, Danaher Corp., NTN Corporation, Brammer PLC, Schaeffler Group, SKF Group, C&U Group, RBC Bearings, Wafangdian Bearing Co. Ltd. and JTEKT Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Forecasts and Future Outlook
- Overall Market
- Market by Type
- Demand Value
- Demand Volume
- Market by Type
- Fields of Application
- Manufacturing Process
- Research Methodology
- Geographic Scope
- Regional Market Size (Status & Prospect)
- End-users & Customers
- Competitive Trends
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Bearing Market by Geographical Regions:-
- North America
- Asia Pacific
- Middle East and Africa
- South America
The latest market data for this research include:
- Overall bearing market size, 2011-2022
- Bearing market size by product segment, 2011-2022
- Growth rates of the overall bearing market and different product segments, 2011-2022
- Shares of different product segments of the overall bearing market, 2011, 2017 and 2022
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