According to the report, the global Bearing Market Size is projected to reach US Dollar 195 Billion by 2027 and is projected to expand at a CAGR of ~6.85%% over the forecast period of 2020 to 2027.
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Growth Factors
Rising production of vehicles is directly prompting the sale for bearings employed in automotive sector. As per data presented by the International Organization of Motor Vehicle Manufacturers (OICA), passenger vehicles production on the global level was around 69 million units in 2018, recording a growth of 2.2% than earlier year. Bearings find application in machinery that required to be supervised continuously to safeguard consistency, competence, reliability, and cost efficacy of the operations. Forthcoming technologies including smart bearings may assist firms tocontinuously supervise bearing operations. These drivers are projected to offer alluring opportunities the global bearing marketplace.
Proliferating demand for high-performance bearings has caused in companies to incorporate enhanced sensor units in their products ranges. These sensor units aid in digital monitoring of deceleration, rotation speed, axial movement, acceleration, and load carrying capability of the product. Moreover, the arrival of Industrial Internet of Things (IIoT) has stimulated implementation and continual monitoring of connected machinery and equipment. Such trends are also expected to support the growth of global bearing market during years to come.
Regional Snapshots
Asia Pacific dominated the global bearing market in 2019 and anticipated to mirror this dominance throughout the forecast period. Stimulating demand from various end user sectors along with stress-free government regulations for establishing of small & medium engineering units is anticipated to lift the growth of the market in this region.
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Europe appeared as second biggest market for bearings on account of presence of huge number of automotive manufacturers in the region. Europe is estimated to reveal huge growth because of the existence of large automobile production facilities and noteworthy demand for high-performance machines from power, construction, and aviation in the region. North America is also expected to exhibit substantial growth during years to come on account of promising government initiatives for the safety of passengers and vehicles. Likewise, steady economy, escalation in demand for bearings from numerous industry verticals including power, aerospace & defense and cutting-edge technology are together projected to lift growth of the market in North America in near future.
Report Highlights
- Asia Pacific is expected to record fastest growing market with majority of market share in 2019.
- The Industry 4.0 trend is one of the prime drivers which is anticipate to lift sale of bearings as industrial and factory automation gets thrust during years to come
- Europe emerged as second largest bearing market due to presence of high number of automotive firms in the region
- Augmented demand for dedicated bearing solutions that cater several industry specific specifications is expected to lift the demand of bearings worldwide
- Automotive sector accounted for higher market share in 2019 due to upsurge in the global automotive production
Key Players & Strategies
Companies are continually strives to improve product designs to upsurge the energy effectiveness and performance. They utilize superior material for cages, raceways, and rolling elements plus redesigned raceway profiles. Additionally, technological progressions in lubrication and seal technologies and application of lightweight materials in high-performance products are promptingvastvisions for the firms. Incorporation of electro-mechanical features straight into the bearings aids in cutbacks in size and cost and improvement in the performance.
Bearing manufacturer SKF is greatly spending in the development of its bearings to keep up with the constantly growing requirement for novel and better bearings. For example, it has designed a variety of ball bearings that surges the mileage that hybrid or electric car can travel. This energy effective SKF e-Drive bearing work by diminishing the levels of heat andfriction andpermits car to travel more competently and advances the power density in order to prolong the battery life.
Prominent firms involved in the bearing market include JTEKT Corporation, NSK Ltd., Schaeffler AG, The Timken Company, SKF, MinebeaMitsumi Inc., NTN Bearing Corporation, Rexnord Corporation, Danaher, and RBC Bearings Incorporated among others.
Market Segmentation
By Product Type
- Plain Bearing
- Ball Bearing
- Four-point Contact
- Self-aligning
- Deep Groove
- Angular Contact
- Others
- Roller Bearing
- Others
By Type
- Mounted Bearing
- Unmounted Bearing
By Material Type
- Metal
- Stainless Steel
- Chrome Steel
- Carbon Steel
- Brass
- Others
- Plastic
- Ceramic
By Distribution Channel Type
- Offline
- Online
By Component Type
- Cages
- Balls
- Rollers
- Rings
- Others
By Application Type
- Construction
- Aerospace
- Automotive
- Power Transmission
- Oil & Gas
By Regional Type
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Middle East & Africa
- Latin America
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Bearing Market, By Product Type
7.1. Bearing Market, by Product Type, 2020-2027
7.1.1. Plain Bearing
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Ball Bearing
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Roller Bearing
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Other
7.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Bearing Market, By Type
8.1. Bearing Market, by Type, 2020-2027
8.1.1. Mounted Bearing
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Unmounted Bearing
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Bearing Market, By Material Type
9.1. Bearing Market, by Material Type, 2020-2027
9.1.1. Metal (Stainless Steel, Chrome Steel, Carbon Steel, Brass)
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Plastic
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Ceramic
9.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 10. Global Bearing Market, By Component Type
10.1. Bearing Market, by Component Type, 2020-2027
10.1.1. Cages
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Balls
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Rollers
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Rings
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Other
10.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 11. Global Bearing Market, By Distribution Channel
11.1. Bearing Market, by Distribution Channel, 2020-2027
11.1.1. Offline
11.1.1.1. Market Revenue and Forecast (2016-2027)
11.1.2. Online
11.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 12. Global Bearing Market, By Application
12.1. Bearing Market, by Application Type, 2020-2027
12.1.1. Construction
12.1.1.1. Market Revenue and Forecast (2016-2027)
12.1.2. Aerospace
12.1.2.1. Market Revenue and Forecast (2016-2027)
12.1.3. Automotive
12.1.3.1. Market Revenue and Forecast (2016-2027)
12.1.4. Power Transmission
12.1.4.1. Market Revenue and Forecast (2016-2027)
12.1.5. Oil & Gas
12.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 13. Global Bearing Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Product (2016-2027)
13.1.2. Market Revenue and Forecast, by Type (2016-2027)
13.1.3. Market Revenue and Forecast, by Material (2016-2027)
13.1.4. Market Revenue and Forecast, by Component (2016-2027)
13.1.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.6. Market Revenue and Forecast, by Application (2016-2027)
13.1.7. U.S.
13.1.7.1. Market Revenue and Forecast, by Product (2016-2027)
13.1.7.2. Market Revenue and Forecast, by Type (2016-2027)
13.1.7.3. Market Revenue and Forecast, by Material (2016-2027)
13.1.7.4. Market Revenue and Forecast, by Component (2016-2027)
13.1.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.8.1. Market Revenue and Forecast, by Application (2016-2027)
13.1.9. Rest of North America
13.1.9.1. Market Revenue and Forecast, by Product (2016-2027)
13.1.9.2. Market Revenue and Forecast, by Type (2016-2027)
13.1.9.3. Market Revenue and Forecast, by Material (2016-2027)
13.1.9.4. Market Revenue and Forecast, by Component (2016-2027)
13.1.10. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.11. Market Revenue and Forecast, by Application (2016-2027)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Product (2016-2027)
13.2.2. Market Revenue and Forecast, by Type (2016-2027)
13.2.3. Market Revenue and Forecast, by Material (2016-2027)
13.2.4. Market Revenue and Forecast, by Component (2016-2027)
13.2.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.6. Market Revenue and Forecast, by Application (2016-2027)
13.2.8. UK
13.2.8.1. Market Revenue and Forecast, by Product (2016-2027)
13.2.8.2. Market Revenue and Forecast, by Type (2016-2027)
13.2.8.3. Market Revenue and Forecast, by Material (2016-2027)
13.2.9. Market Revenue and Forecast, by Component (2016-2027)
13.2.10. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.10.1. Market Revenue and Forecast, by Application (2016-2027)
13.2.11. Germany
13.2.11.1. Market Revenue and Forecast, by Product (2016-2027)
13.2.11.2. Market Revenue and Forecast, by Type (2016-2027)
13.2.11.3. Market Revenue and Forecast, by Material (2016-2027)
13.2.12. Market Revenue and Forecast, by Component (2016-2027)
13.2.13. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.14. Market Revenue and Forecast, by Application (2016-2027)
13.2.15. France
13.2.15.1. Market Revenue and Forecast, by Product (2016-2027)
13.2.15.2. Market Revenue and Forecast, by Type (2016-2027)
13.2.15.3. Market Revenue and Forecast, by Material (2016-2027)
13.2.15.4. Market Revenue and Forecast, by Component (2016-2027)
13.2.16. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.16.1. Market Revenue and Forecast, by Application (2016-2027)
13.2.17. Rest of Europe
13.2.17.1. Market Revenue and Forecast, by Product (2016-2027)
13.2.17.2. Market Revenue and Forecast, by Type (2016-2027)
13.2.17.3. Market Revenue and Forecast, by Material (2016-2027)
13.2.17.4. Market Revenue and Forecast, by Component (2016-2027)
13.2.18. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.18.1. Market Revenue and Forecast, by Application (2016-2027)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Product (2016-2027)
13.3.2. Market Revenue and Forecast, by Type (2016-2027)
13.3.3. Market Revenue and Forecast, by Material (2016-2027)
13.3.4. Market Revenue and Forecast, by Component (2016-2027)
13.3.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.6. Market Revenue and Forecast, by Application (2016-2027)
13.3.7. India
13.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
13.3.7.2. Market Revenue and Forecast, by Type (2016-2027)
13.3.7.3. Market Revenue and Forecast, by Material (2016-2027)
13.3.7.4. Market Revenue and Forecast, by Component (2016-2027)
13.3.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.9. Market Revenue and Forecast, by Application (2016-2027)
13.3.10. China
13.3.10.1. Market Revenue and Forecast, by Product (2016-2027)
13.3.10.2. Market Revenue and Forecast, by Type (2016-2027)
13.3.10.3. Market Revenue and Forecast, by Material (2016-2027)
13.3.10.4. Market Revenue and Forecast, by Component (2016-2027)
13.3.11. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.11.1. Market Revenue and Forecast, by Application (2016-2027)
13.3.12. Japan
13.3.12.1. Market Revenue and Forecast, by Product (2016-2027)
13.3.12.2. Market Revenue and Forecast, by Type (2016-2027)
13.3.12.3. Market Revenue and Forecast, by Material (2016-2027)
13.3.12.4. Market Revenue and Forecast, by Component (2016-2027)
13.3.12.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.12.6. Market Revenue and Forecast, by Application (2016-2027)
13.3.13. Rest of APAC
13.3.13.1. Market Revenue and Forecast, by Product (2016-2027)
13.3.13.2. Market Revenue and Forecast, by Type (2016-2027)
13.3.13.3. Market Revenue and Forecast, by Material (2016-2027)
13.3.13.4. Market Revenue and Forecast, by Component (2016-2027)
13.3.13.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.13.6. Market Revenue and Forecast, by Application (2016-2027)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Product (2016-2027)
13.4.2. Market Revenue and Forecast, by Type (2016-2027)
13.4.3. Market Revenue and Forecast, by Material (2016-2027)
13.4.4. Market Revenue and Forecast, by Component (2016-2027)
13.4.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.6. Market Revenue and Forecast, by Application (2016-2027)
13.4.7. GCC
13.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
13.4.7.2. Market Revenue and Forecast, by Type (2016-2027)
13.4.7.3. Market Revenue and Forecast, by Material (2016-2027)
13.4.7.4. Market Revenue and Forecast, by Component (2016-2027)
13.4.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.9. Market Revenue and Forecast, by Application (2016-2027)
13.4.10. North Africa
13.4.10.1. Market Revenue and Forecast, by Product (2016-2027)
13.4.10.2. Market Revenue and Forecast, by Type (2016-2027)
13.4.10.3. Market Revenue and Forecast, by Material (2016-2027)
13.4.10.4. Market Revenue and Forecast, by Component (2016-2027)
13.4.11. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.12. Market Revenue and Forecast, by Application (2016-2027)
13.4.13. South Africa
13.4.13.1. Market Revenue and Forecast, by Product (2016-2027)
13.4.13.2. Market Revenue and Forecast, by Type (2016-2027)
13.4.13.3. Market Revenue and Forecast, by Material (2016-2027)
13.4.13.4. Market Revenue and Forecast, by Component (2016-2027)
13.4.13.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.13.6. Market Revenue and Forecast, by Application (2016-2027)
13.4.14. Rest of MEA
13.4.14.1. Market Revenue and Forecast, by Product (2016-2027)
13.4.14.2. Market Revenue and Forecast, by Type (2016-2027)
13.4.14.3. Market Revenue and Forecast, by Material (2016-2027)
13.4.14.4. Market Revenue and Forecast, by Component (2016-2027)
13.4.14.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.14.6. Market Revenue and Forecast, by Application (2016-2027)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Product (2016-2027)
13.5.2. Market Revenue and Forecast, by Type (2016-2027)
13.5.3. Market Revenue and Forecast, by Material (2016-2027)
13.5.4. Market Revenue and Forecast, by Component (2016-2027)
13.5.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.6. Market Revenue and Forecast, by Application (2016-2027)
13.5.7. Brazil
13.5.7.1. Market Revenue and Forecast, by Product (2016-2027)
13.5.7.2. Market Revenue and Forecast, by Type (2016-2027)
13.5.7.3. Market Revenue and Forecast, by Material (2016-2027)
13.5.7.4. Market Revenue and Forecast, by Component (2016-2027)
13.5.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.8.1. Market Revenue and Forecast, by Application (2016-2027)
13.5.9. Rest of LATAM
13.5.9.1. Market Revenue and Forecast, by Product (2016-2027)
13.5.9.2. Market Revenue and Forecast, by Type (2016-2027)
13.5.9.3. Market Revenue and Forecast, by Material (2016-2027)
13.5.9.4. Market Revenue and Forecast, by Component (2016-2027)
13.5.9.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.9.6. Market Revenue and Forecast, by Application (2016-2027)
Chapter 14. Company Profiles
14.1. SKF
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. The Timken Company
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Rexnord Corporation
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. MinebeaMitsumi Inc.
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. NSK Ltd
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Schaeffler AG
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. RBC Bearings Incorporated
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. JTEKT Corporation
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. NTN Bearing Corporation
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Danaher
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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