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Industry Insights The global bearings market size was valued at USD 81.6 billion in 2015 and is expected to grow, significantly, owing to the increasing heavy machinery manufacturing. Furthermore, the increasing application of high capacity bearings in wind turbines is anticipated to drive demand over the forecast period. Wind turbines utilize these products to enhance turbine reliability & performance, reduce lubricant consumption, and increase energy production.
Technological advances in lubrication technology, seal technologies, and the use of lightweight materials in high-performance products, are creating huge opportunities for companies operating in the market. Integration of electro-mechanical features directly into the bearings helps in performance improvement and reductions in size and cost.
U.S. bearings market by product, 2014-2025 (USD Billion)
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The increase in the demand for high-performance bearings has led manufacturers to integrate advanced sensor units in their products. The sensor units assist in the digital monitoring of axial movement, rotation speed, acceleration, deceleration, and load carrying capacity of the bearings.
Report Coverage & Deliverables
PDF report & online dashboard will help you understand:
- Competitive benchmarking
- Market forecasts
- Company market shares
- Market opportunities
- Latest trends & dynamics
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Product Insights Bearings are majorly classified as ball and roller types. Ball bearings have smaller surface contacts that function very smoothly, thereby reducing the friction. They can also be used with thrust and radial loadings, owing to which, they are extensively used in both two and four-wheeled automobiles.
In 2015, ball bearings dominated the product segment; however, the roller type is expected to emerge as the largest segment over the forecast period. This is because these products support radial and axial loads, reduce rotational friction, and can sustain heavy radial loads and limited axial loads compared to ball bearings. The extensive adoption of roller bearings by various industries, including home appliances, automobiles, capital equipment, and the aerospace industry, is expected to positively impact the product demand.
Application Insights The automotive segment dominated the industry in 2015. The growth in the automotive production, across the globe, is anticipated to fuel their demand. The demand for vehicles with technologically advanced solutions is increasing, thereby, resulting in a rise in vehicle manufacturing that requires instrumented products.
However, the railway & aerospace segment is anticipated to account for the fastest growing market, owing to the ascribed rise in the number of commuters using public transportation. The availability of improved ways to assist worldwide and local transportation systems also offers opportunities for market growth. Further, the demand in the railway segment is increasing on account of accelerated railway construction in the developing countries.
China bearings market by application, 2015 (USD Billion)
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Regional Insights The Asia Pacific region is anticipated to witness the fastest gains in sales, accounting for over USD 50 billion by 2025. China is one of the major markets for bearings sales in the country are expected to increase over the coming years stimulated by the rapid expansion of machinery and motor vehicle production, combined with a strong aftermarket for industrial equipment and motor vehicle repair. Further, the robust construction and mining equipment market in India is estimated to facilitate the industry growth.
In the mature markets of the U.S., Western Europe, and Japan, the demand is driven by the rebounding productions of motor vehicles and a healthy fixed investment environment. In the Middle Eastern and African regions, the rapid development of city infrastructures is influencing the overall growth.
Competitive Insights The major industry participants include NTN Corporation, Schaeffler Group, SKF, NSK Global, Timken, and JTEKT. The companies are increasingly focusing on research and development projects to manufacture application specific bearings and increase their efficiency. Intense competition has led manufacturers to invest in product developments to better serve the customers’ requirements. For instance, NTN Corporation has developed a grease lubrication type high-speed deep groove ball bearing with enhanced rotational speed.
Report Scope Attribute
| Details
| Base year for estimation
| 2015
| Actual estimates/Historical data
| 2014 - 2015
| Forecast period
| 2016 - 2025
| Market representation
| Revenue in USD Billion and CAGR from 2016 to 2025
| Regional scope
| North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
| Country scope
| U.S., Canada, UK, Germany, France, Italy, Eastern Europe, Japan, China, India, Brazil, and Mexico
| Report coverage
| Revenue forecast, company share, competitive landscape, growth factors, and trends
| 15% free customization scope (equivalent to 5 analyst working days)
| If you need specific information which is not currently within the scope of the report, we will provide it to you as a part of customization
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Segments Covered in the Report This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends, from 2014 to 2025, in each of the sub-segments. For the purpose of this study, Grand View Research has segmented the bearings market based on product, application, and region:
[ 本帖最後由 benson2003 於 2018-5-31 08:16 編輯 ]
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