The global bearings market is expected to
reach USD 172.2 billion by 2025, according to a new report by Grand View
Research, Inc. The market is anticipated to witness a healthy growth, ascribed
to achieve energy efficiency coupled with high demand across the automotive
sector. The increasing demand for commercial vehicles is anticipated to propel
demand across the automotive sector over the coming years. Bearings are
necessary in nearly all applications that involve motion, so all industries,
ranging from household appliances, automobiles, and industrial machinery to
aerospace, using machinery or related motor-driven linkages use bearings.
The global bearings market is
mature with a dynamic market demand closely related to the state of engineering
industries and capital goods. Manufacturers in the bearings industry invest in
R&D to address the rising competition by offering innovative products.
The technological advancements,
such as smart bearings and lubrication technology, incorporating sensor units
in bearings, are estimated to offer high growth opportunities to the market.
Companies are offering integrated products that drastically reduce the number
of bearings required in an assembled product and minimize the overall cost of
the equipment. Moreover, it improves the reliability and shelf-life of the
product.
Browse full research report on Bearings Market: http://www.grandviewresearch.com/industry-analysis/bearings-market
Further key findings from the report suggest:
- The development of bearings that enable
cost-effective wind energy generation has led to their increased adoption
across wind turbine applications that help increase energy production,
enhance turbine performance & reliability, and reduce lubricant consumption
- Roller bearings are expected to outpace ball
bearings, as the largest product segment over the next few years, owing to
their capacity to carry heavy loads and shock or impact loading
- The railway & aerospace segment is anticipated to
witness the fastest growth at a CAGR exceeding 8% over the forecast
period, owing to their rising demand in applications including gearboxes,
shock absorbers, tilting mechanisms, doors, among others
- The Asia Pacific region is expected to emerge as the
fastest growing region with a CAGR exceeding 5% over the forecast period
on account of the increased demand for fuel-efficient passenger vehicles,
swift infrastructure development, and industrialization across the region
- The key purveyors comprise NSK, Schaeffler, Timken,
SKF, JTEKT, and NTN. Several leading vendors are investing in high-level
R&D to come up with innovative bearing solutions. These solutions are
focused not only on improving the overall quality of the end-product, but
also on being cost-effective.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the bearings market based
on product, application and region:
Bearings Product Outlook (Revenue, USD Billion; 2014 -
2025)
- Ball
Bearings
- Deep
Groove Bearings
- Other
- Roller
Bearings
- Split
Bearings
- Tapered
Bearings
- Others
- Others
Bearings Application Outlook (Revenue, USD Billion; 2014
- 2025)
- Automotive
- Agriculture
- Electrical
- Mining
& construction
- Railway
& Aerospace
- Automotive
aftermarket
- Others
Bearings Regional Outlook (Revenue, USD Billion; 2014 -
2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Eastern
Europe
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- The
Middle East & Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-bearings-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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