Bearings Market: Information by Type (Plain bearings, Ball bearings, Roller bearings, Others) Application (Automotive, Machinery, Aerospace, Railway, Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Others) — Global Forecast till 2026
Bearings are machine elements that limit relative motion to only desired motion and reduce friction between moving parts. The design of the bearing may, for example, provide free linear movement of the moving component or free rotation about a fixed axis; alternatively, it may prevent the motion by controlling the normal force vector carried on the moving component. Most bearings promote the required motion by minimizing friction.
The study projects that the Bearings market will register an 8.31% CAGR in terms of value, which is expected to reach USD 176,415 million in 2026 from USD 100,892 million in 2019.
Owing to the boundless benefits attached by bearings such as helps minimize friction between different mechanical parts in several types of industrial machinery, thus resulting in reduced energy consumption, the global demand for Bearings materials is increasing at an expeditious rate. Further, the excellent performance in industrial adoption makes it an emerging alternative for end users in other industry verticals, ranging from automobiles, household appliances, to aerospace, which in turn, can supplement the global Bearings market expansion.
Based on type, roller bearings are estimated to emerge as the largest type segment by 2026, due to the capability for carrying heavy loads and shock, or impact loading.
Based on application, the study projects the automotive segment will witness noteworthy growth in generating revenues over the forecast period, owing to the surging demand for commercial vehicles from the sector across the globe.
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Bearings Market: Type Outlook
l Ball bearings
l Roller bearings
Bearings Market: Application Outlook
l Automotive
l Machinery
l Aerospace
l Railway
l Electronics
Bearings Market: Region Outlook
l North America (U.S., Canada, Mexico)
l Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
l Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
l Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
l Others
Region Overview
Geographically, the global Bearings market can be separated into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Europe is the largest region for manufacturing bearings with a production value of USD 34,224 million in 2018, accounting for nearly 36.74% of total values. While Asia-Pacific will remain a prominent position in terms of generating shares over the analyzed period owing to the upsurge demand for fuel-efficient passenger vehicles, rapid industrialization, and swift infrastructure development in the region, the regional market accounts for over 35.14% of the total sales in 2018.
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Leading Company for Driving Industry development
The global Bearings market growth is also reliant on the development of active players in the industry, which are NTN Corporation, Svenska Kullagerfabriken AB, Svenska Kullagerfabriken AB, Schaeffler Group, NSK Ltd., The Timken Company, JTEKT Corporation, Robert Bosch GmbH, The Danaher Corporation, GKN plc., Minebea Mitsumi Inc., and etc.
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Bearings Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Bearings Market by Types
4 Segmentation of Bearings Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Bearings Market in Major Countries
7 North America Bearings Landscape Analysis
8 Europe Bearings Landscape Analysis
9 Asia Pacific Bearings Landscape Analysis
10 Latin America, Middle East & Africa Bearings Landscape Analysis
11 Major Players Profile
11.1 NTN Corporation
11.1.1 NTN Corporation Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 Svenska Kullagerfabriken AB
11.3 Schaeffler Group
11.4 NSK Ltd.
11.5 The Timken Company
11.6 JTEKT Corporation
11.7 Robert Bosch GmbH
11.8 The Danaher Corporation
11.9 GKN plc.
11.10 Minebea Mitsumi,Inc.
…
Key Stakeholders
l Bearings manufacturers
l Raw material suppliers of Bearings
l Downstream vendors and end-users
l Traders, distributors, and resellers of Bearings
l Machinery, equipment industry associations and research organizations
l Product managers, Bearings industry administrator, C-level executives of the industries
l Market Research and consulting firms
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Years considered for the study
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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