Bearings Market Raw Material Outlook, Vendor Landscape & Technology Overview, 2025

Felton, Calif., USA, Sep 08, 2021 — /EPR Network/ —

The global Bearings Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

• Brammer PLC
• Harbin Bearing Manufacturing Co., Ltd.
• HKT Bearings Ltd.
• JTEKT Corporation
• NBI Bearings Europe
• NSK Global
• NTN Corporation
• RBC Bearings Inc.
• Rexnord Corporation
• RHP Bearings
• Schaeffler Group
• SKF Corporation

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Growth Drivers:

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. 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.

Product Outlook:

• Ball Bearings
  • Deep Groove Bearings
• Roller Bearings
  • Split Bearings
  • Tapered Bearings

Application Outlook:

• Automotive
• Agriculture
• Electrical
• Mining & construction
• Railway & Aerospace
• Automotive aftermarket

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.

Furthermore, increasing demand for bearing from the railway & aerospace segment is predicted to generate massive revenue owing to the ascribed rise in the number of commuters using public transportation. Improved infrastructure and local transportation systems in developing economies is expected to favor market growth of railway & aerospace application segment.

Regional Outlook:

North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the automotive sector, increase in the number of R&D activities in the region, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the bearings market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with strong economic growth in the region, growing automotive sector, massive growth in robust construction and mining equipment market and significant investment by leading industry players considering potential growth opportunities in the region.

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