Global $186.1Bn Bearings Market Outlook 2019-2025; Dominated by SKF, NSK, Timken, Schaeffler, NTN and JTEKT - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 11, 2019--The “Bearings Market Size, Share & Trends Analysis Report By Product (Ball, Roller), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace), And Segment Forecasts, 2019 - 2025” report has been added to ResearchAndMarkets.com’s offering.
The global bearings market size is expected to reach USD 186.1 billion by 2025, according to this report. It is projected to register a CAGR of 9.1% during the forecast period.
The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.
Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.
The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.
Further key findings from the study suggest:
- The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
- Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
- Railway and aerospace segment is estimated to witness the fastest CAGR of over 8% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
- Asia Pacific is anticipated to witness the fastest CAGR of over 5% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
- The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product
Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Bearings Industry Outlook
3.1 Market Segmentation & Scope
3.2 Bearings - Market Size and Growth Prospects 2014 - 2025
3.3 Bearings - Value Chain Analysis
3.4 Market Dynamics
3.5 Bearings - Key Opportunities Prioritized
3.6 Bearings - Porter’s Five Forces Analysis
3.7 Bearings - PESTEL Analysis
3.8 Bearings - Company market share analysis, 2018
Chapter 4 Market Categorization 1 - Product Estimates & Trend Analysis
4.1 Global Bearings Market Share by Product, 2018 & 2025 (USD Billion)
4.2 Ball Bearings
4.3 Roller bearings
4.4 Other bearings
Chapter 5 Market Categorization 2 - Application Estimates & Trend Analysis
5.1 Global Bearings Market Share by Application, 2018 & 2025 (USD Billion)
5.5 Mining & Construction
5.6 Railway & Aerospace
5.7 Automotive Aftermarket
Chapter 6 Market Categorization 3 - Regional Estimates & Trend Analysis
6.1 Global Bearings Market Share by Region, 2018 & 2025 (USD Billion)
6.2 North America
6.4 Asia Pacific
6.5 Latin America
6.6 Middle East & Africa
Chapter 7 Competitive Landscape
7.1 Brammer PLC
7.2 Harbin Bearing Manufacturing Co. Ltd.
7.3 HKT Bearings Ltd.
7.4 JTEKT Corporation
7.5 NBI Bearings Europe
7.6 NSK Global
7.7 NTN Corporation
7.8 RBC Bearings Inc.
7.9 Rexnord Corporation
7.10 RHP Bearings
7.11 Schaeffler Group
7.12 SKF Corporation
7.13. The Timken Company
For more information about this report visit https://www.researchandmarkets.com/r/bun4s0
View source version on businesswire.com:https://www.businesswire.com/news/home/20190411005320/en/
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INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
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PUB: 04/11/2019 05:49 AM/DISC: 04/11/2019 05:49 AM