November 24, 2020

Bearings Market Forecast 2020 – 2027 Top Key Players Analysis

The GMI Research’s market research report is a professional and in-depth study on the current state of the market, which covers numerous aspects of the industry, such as the market size, market status, market trends, and forecast. The market report also offers brief information related to the competitors and the specific growth opportunities with key market drivers.

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The Bearings Market drivers and trends are as follows:

The significant factors contributing to the growth of the bearings market include the growing adoption of bearings across various application areas such as railways, automotive, among others, and the implementation of heavy machinery in the industries demanding high-performance industrial bearings. Moreover, the rising concerns regarding pollution and global warming lead to growth in the investments, thus increasing the number of projects for the production of wind energy. This factor has surged the demand for bearings due to their ability to withstand high rotating speeds. The rising technological advancements for the development of bearings and the increasing focus of the bearing manufacturers on innovations to capture the growing demand of various industries are certain factors bolstering the demand for bearings in the market in the upcoming years.

The use of bearings in industries offers remarkable benefits such as the ability to operate at high speeds, high load carrying capacity, reduce the friction among the components, the ability to perform accurately under fluctuating loads & speeds, and less operational wear, which is leading to the use of simple methods of lubrication. On the other hand, the factors hindering the growth of the global bearings market include the increasing concerns for counterfeit products due to its low cost.

Key Benefits of the Report:

  • This report offers an analytical depiction of the bearings market while providing the current trends and future estimations to determine the imminent investment pockets.
  • This study illustrates every relevant information, including the market drivers, restraints, and emerging opportunities, followed by a detailed analysis of the bearings market share.
  • The report also provides a detailed bearings market analysis based on competitive intensity and how the competition will take shape over the next six years.

Various companies covered in the Bearings Market report:

  • JTEKT Corporation
  • NSK Ltd.
  • Schaeffler AG
  • SKF
  • The Timken Company
  • NTN Bearing Corporation
  • MinebeaMitsumi Inc.
  • Rexnord Corporation
  • RBC Bearings Incorporated
  • C&U Group

Segmentation of the Bearings Market:

Breakup by Type:

  • Plain Bearings
  • Roller Bearings
  • Ball Bearings

o Deep Groove Ball Bearings

  • Open
  • Sealed

o Others

  • Others

Breakup by Outer Diameter:

  • Below 5mm
  • 6-10mm
  • 10-21mm
  • 22mm
  • 23-32mm
  • 33-40mm
  • 41-45mm
  • Above 45mm

Breakup by Application:

  • Agriculture
  • Automotive
  • Mining & Construction
  • Electrical
  • Railway & Aerospace
  • Others

Breakup by Region:

  • North America

o United States of America

o Canada

  • Asia Pacific

o China

o Japan

o India

o Rest of APAC

  • Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

  • RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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