With a CAGR of 3.6%, the bearing market will reach $52.44 billion by

Pune, India, Aug. 08, 2022 (GLOBE NEWSWIRE) — The world bearings market The size was USD 39.46 billion in 2018 and is expected to reach USD 52.44 billion by 2026, showing a CAGR of 3.6% during the forecast period (2019 – 2026). The booming automobile sector will contribute immensely to the growth of the market. Growing application of bearings in food processing industry will bolster the healthy growth of the market over the forecast period, says Fortune Business Insights in a report titled Bearings Market Size, Share & Industry Analysis and Regional Forecast, 2019-2026 » the market size stood at USD 39.46 billion in 2018.

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Players Covered in Bearings Market:

  • NSK Ltd.
  • Nachi Fujikoshi Corp.
  • myonic GmbH
  • LYC bearing company
  • Luoyang Huigong Bearing Technology Co., Ltd.
  • Koyo
  • ISB Industries
  • NTN Bearing Corporation
  • SKF
  • The Timken Company
  • THB Bearings
  • Schaeffler Technologies AG & Co. KG

Impact of Covid-19:
The emergence of COVID-19 has paralyzed the world. We understand that this health crisis has had an unprecedented impact on businesses in all sectors. However, this too will pass. Growing support from governments and several businesses can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, almost every industry is expected to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during the COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of the coronavirus epidemic in all sectors to help you prepare for the future.

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Report Scope and Segmentation:

Report cover Details
Forecast period 2019-2026
Forecast CAGR 3.6%
2026 value projection $52.44 billion
base year 2018
Bearings market size in 2018 $39.46 billion
Historical data 2015 – 2017
Number of pages 120
Segments Covered Type, application and region
Bearings Market Growth Drivers Custom bearings are emerging as one of the bearing market trends
Special bearings are gaining popularity around the world
Growing demand for precision bearings is expected to drive the bearings market

market engine:

Growing demand for precision bearings is expected to drive the bearings market

Rising industrial automation has driven a demand for precision bearings, which in turn will aid in the expansion of the market. The growing application of bearings in the aerospace industry will drive the market growth over the forecast period. Moreover, the increasing development of advanced robots will fuel the demand for miniature bearings in the coming years. The increasing orientation of manufacturers towards offering miniature bearing products due to the advantages over other bearings will enable rapid expansion of the market. For example, SKF, a seal and bearing manufacturer, offers a wide range of miniature ball bearings available in stainless steel as well as seals or shields for various applications. Technological advancements in medical equipment, audio visual equipment and other automations will create opportunities for the market. Furthermore, the growing demand for coated bearings for compressors, hydraulic pumps and motors, and marine and offshore applications will drive the market growth in the foreseeable future. Moreover, the increasing collaborations and partnerships among major key players will subsequently help in the expansion of the market. For example, Calico Coatings has worked with ACL, Mahle/Clevite and Durabond to provide bearings coated with CT-1 dry film lubricant for a high performance motor.

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Regional analysis:

Increasing infrastructure development to drive growth in Asia-Pacific

Asia-Pacific is expected to hold the major share during the forecast period owing to the growing demand for bearings from various industries such as automotive, aerospace, and packaging industry. The booming automotive sector will influence healthy growth in the region. According to the Society of Indian Automobile Manufacturers (SIAM), in the first quarter of 2019, the total trade in passenger vehicles increased by 2.7%. Growing demand for industrial machinery owing to growing infrastructure development will positively contribute to the growth of the Asia-Pacific market. Europe is expected to account for the largest share of the global market owing to the well-established automobile industry. The presence of large automobile companies will promote the growth of the region. In addition, strong demand from the aerospace industry will support growth in Europe.

Key development:

October 2019: JTEKT Corporation announced the release of creep resistance features for ball bearings that will be primarily used in hybrid drivetrains; electric vehicles and, CVT motor cars.

August 2018: Timken India Ltd., a subsidiary of Timken Company, announced the acquisition of ABC Bearings Ltd, a leading producer and leader of cylindrical, tapered and spherical roller bearings based in India

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Contents:

  • Introduction
    • Definition, by segment
    • Research approach
    • Sources
  • Summary
  • Market dynamics
    • Drivers, constraints and opportunities
    • Emerging trends
  • key ideas
    • Macro and micro economic indicators
    • Key technological developments
    • Consolidated SWOT analysis of key players
  • Global Bearings Market Analysis, Outlook and Forecast, 2015-2026
    • Main results/summary
    • Market Size Estimates & Forecasts – By Type (Value)
      • Ball bearings
      • roller bearings
    • Market Size Estimates and Forecasts – By Application (Value)
      • Automotive
      • Industrial machinery
      • Aerospace
      • Others
    • Market Analysis, Outlook and Forecast – By Geography (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America
  • North America Bearings Market Analysis, Outlook and Forecast, 2015-2026
    • Main results/summary
    • Market Size Estimates & Forecasts – By Type (Value)
      • Ball bearings
      • roller bearings
    • Market Size Estimates and Forecasts – By Application (Value)
      • Automotive
      • Industrial machinery
      • Aerospace
      • Others
    • Market Analysis, Outlook and Forecast – By Country (Value)
  • Europe Bearings Market Analysis, Outlook and Forecast, 2015-2026

TOC Continued…!

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