Bearings Market Forecast, Size and Gross Margin Analysis by 2025

Posted on 2021-04-07 by researchinsights in Industrial // 0 Comments

Felton, California , USA, Apr 07, 2021 — /EPR Network/ —

The global Bearings Market size is expected to value at USD 172.2 billion by 2025. The market is subject to witness a substantial growth due to the rising demand from heavy machinery manufacturing sector. In addition, increase in the number of application of high capacity bearings in wind turbines is predicted to boost overall market demand for bearing in the upcoming years. Increasing adoption of high capacity bearings in wind turbines helps to improve turbine reliability and performance.

Some of the typical advantage of the industrial bearing include reduction in lubricant consumption and increase in the energy production. Recent advancement in energy & power sector has led to the development of cost effective solution in the market of bearings. These factors are expected to fuel market growth of bearing industry over the next seven years. Globally, the bearings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Addition of electro-mechanical accessories into the bearings offers substantial performance enhancement along with reductions in size of the product. Incorporation of advanced sensor units with high performing bearing are anticipated to rocket market demand for bearing in the near future. The advanced sensor system helps to digitally monitor of axis movement, sequence speed, acceleration, deceleration, and load carrying capacity of the bearings.

Development of advanced lubrication technology and seal technologies coupled with use of lightweight materials in high-performing systems are expected to offer lucrative growth opportunities for industry participants over the forecast period. The bearings market is broadly categorized into two major segments based on the application type such as ball bearings and roller type bearings. The ball bearings is considered as one of the fastest growing segment in the market of bearings with substantial revenue generation in the last few years. Growing popularity of the ball bearings segment is attributed to their ability to function very smoothly and frictionless. Increasing demand for ball bearing along with thrust and radial loadings in two and four-wheeled automobiles is estimated to escalate market demand for ball bearings segment. The roller type bearing segment has also witnessed substantial growth owing to their capacity to support radial and axial loads, thus reducing overall rotational friction.

The automotive sector is one of the fastest growing application in the bearing market owing to large-scale production of automobiles across the globe. Recent advancement in the automotive industry coupled with rising sale of vehicles in the Asia Pacific region are projected to stimulate market growth over the next seven years.

The key players in the bearings industry are NTN Co., SNL Bearings Limited, KCI Bearings (India) Pvt. Ltd., AB SKF Group, NSK Global Ltd., The Timken Company Co., Schaeffler Technologies AG & Co., KG, and JTEKT Co.

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Key questions answered in the report include:

What will be the market size in 2025?
What are the growth opportunities of Bearings market in upcoming period?
What strategies are the market players adopting to ensure sustainability?
Which region or country driving the demand of Bearings market?
How and where market players should focus to gain maximum ROI?

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