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Bearings - Global Market Trajectory & Analytics

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    Report

  • 794 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338754

Global Bearings Market to Reach $173.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Bearings estimated at US$113.1 Billion in the year 2020, is projected to reach a revised size of US$173.1 Billion by 2027, growing at a CAGR of 6.3% over the analysis period 2020-2027. Roller Bearings, one of the segments analyzed in the report, is projected to record a 7.3% CAGR and reach US$75 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Ball Bearings segment is readjusted to a revised 5.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $14.9 Billion, While China is Forecast to Grow at 8.5% CAGR

The Bearings market in the U.S. is estimated at US$14.9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$55.9 Billion by the year 2027 trailing a CAGR of 8.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29.8 Billion by the year 2027.

Other Products Segment to Record 5.1% CAGR

In the global Other Products segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.2 Billion in the year 2020 will reach a projected size of US$30.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.9% CAGR through the analysis period.

Select Competitors (Total 245 Featured) -

  • Harbin Bearing Manufacturing Co., Ltd.
  • HKT Bearings Ltd.
  • igus® GmbH
  • JTEKT Corporation
  • MinebeaMitsumi, Inc.
  • Misumi USA
  • Nachi-Fujikoshi Corp.
  • NSK Ltd.
  • NTN Corporation
  • RBC Bearings, Inc.
  • Regal Rexnord Corporation
  • Rubix Group International Limited
  • Schaeffler AG
  • SKF Group
  • SNL Bearings Limited
  • Tenneco Inc.
  • The Timken Company
  • Wafangdian Bearing Group Corp., Ltd.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Bearings - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Bearings: Vital Anti-Friction Parts in Modern Mechanical Machinery
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Percentage (%) of Population Administered With Vaccines in Advanced Economies, Emerging Markets, and Low-Income Countries As of July 2021
  • How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • Time is of Essence! What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • How the Automotive, Aerospace, Construction & Heavy Machinery Industries Were Impacted by the Pandemic & What's the New Normal?
  • The Automotive Industry
  • Heavy Machinery Industry
  • The Aerospace Industry
  • The Construction Industry
  • Global Construction Spending (In US$ Trillion) for the Years 2019, 2020, & 2021
  • Bearings: Major Types & Applications
  • Recent Market Activity
  • Innovations
  • World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Here's What to Expect in the Market, Now & Beyond
  • Spotlight on China as a Major Market for Bearings
  • Are Bearings Ready for Industry 4.0?
  • Predictive Maintenance as the Hallmark of IIoT Drives Focus on Smart Bearings
  • Market to Witness Unconventional Growth for Smart Bearings as Adoption of Predictive Analytics in Failure & Maintenance Rises on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
  • Bright Outlook for Automotive Bearings, Barring Chip Shortage & Ensuing Auto Production Woes That Casts a Temporary Dampener on Demand in the OEM Market
  • Auto Production Halts Induced by Chip Shortages Hobbles Much Awaited Recovery
  • Uncomfortably Placed Automakers Pass the Pain to Bearing Manufacturers as Chip Shortage Leaves Production Idling: Global Number of Vehicles in Production Impacted by Shortages (In 000 Units) by Region as of August 2021
  • Automotive Bearings Market & Its Dynamics
  • Focus on Lightweighting Boosts Demand for Light Weight Bearings
  • Post Pandemic, Massive Engineering Interest in Lightweighting Will Create Massive Interest in Innovative Lightweight Bearings: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
  • Lighter, Smarter Transport Vehicles to Ushers in Opportunities for Innovative 3D Printed & Smart Bearing Solutions in Railway & Aerospace Industries
  • Future Fleet Expansion Plans Guided by Fuel Efficiency & Strict Emission Regulations to Benefit Innovative Bearing Products: Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2039
  • Smart Bearings to Benefit from the Expected Investments in Rail Transport Infrastructure: Global Rail Transport Network by Length (In Kilometers) by Country for the Years 2020
  • Home Renovations & Need for Better Buildings for Post Pandemic Living to Spur Opportunities in the Construction Sector
  • Strong Outlook for Autonomous Farm Equipment to Benefit Demand in the Agriculture End-Use Segment
  • Growing Use of Autonomous Farm Equipment Expands the Addressable Market Opportunity for Bearings in the Agriculture End-Use Sector: Global Opportunity for Autonomous Farm Equipment (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Continuous Innovation Remains Crucial for Market Growth
  • Focus on Lightweighting Has Manufacturers Looking Beyond Steel
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Roller Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Roller Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Roller Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Ball Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Ball Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Ball Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Other Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Mining & construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Mining & construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for Mining & construction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Railway & Aerospace by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Railway & Aerospace by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Railway & Aerospace by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Agriculture by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Electrical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Electrical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Electrical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 28: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 29: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 30: World 15-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Background and Development of the Bearings Industry
  • A Peek into the US Ball Bearing Market
  • US Ceramic Ball Bearing Market
  • Competition
  • Single-Source Supply Trend
  • Anti-dumping Duties Save the Day
CANADA
  • Bearings Industry: An Insight
  • Canadian Ball Bearing Market Overview
JAPAN
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Japan, Once a Force; Losing Sheen
  • New Supplier Face Entry Barriers in the Automotive Sector
  • Competition
CHINA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China: A Frontrunner in the Bearings Industry
  • Shortages in Wind Turbine Bearings: A Business Case for Local Suppliers
  • Market Challenges
  • Price War between Chinese and Japanese Bearing Manufacturers
EUROPE
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Big Shot Manufactures in Western Europe Eye Low Cost CEE Countries for Production
  • Brand Loyalty a Rarity among End-Users
  • Competition
FRANCE
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Tapered Roller Bearings Dominate the Roller and Needle Bearings Market
  • UK Market for Roller and Needle Bearings by Type (2020): Percentage Breakdown of Value Sales for Tapered, Cylindrical, Spherical and Needle
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Indian Bearings Industry: At a Glance
  • Industry Structure
  • Growth Drivers
  • Challenges
  • Market Overview
  • Competitive Scenario
  • Indian Bearings Market (2020): Market Share Breakdown by Leading Companies
  • Leading Bearing Manufacturers in India
  • Organized Sector Rules Domestic Bearings Production
  • Indian Bearings Market (2020): Percentage Share Breakdown by Sector for Organized, Unorganized, and Imports
  • Imports Account for a Prominent Share
  • Automotive: The Major Application Segment
  • Competition from Chinese Bearings
  • Automotive Bearing Exports: An Insight
  • Brief Note on Other Application Segments
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
  • Brief Overview
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
AFRICA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 245

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Harbin Bearing Manufacturing Co., Ltd.
  • HKT Bearings Ltd.
  • igus® GmbH
  • JTEKT Corporation
  • MinebeaMitsumi, Inc.
  • Misumi USA
  • Nachi-Fujikoshi Corp.
  • NSK Ltd.
  • NTN Corporation
  • RBC Bearings, Inc.
  • Regal Rexnord Corporation
  • Rubix Group International Limited
  • Schaeffler AG
  • SKF Group
  • SNL Bearings Limited
  • Tenneco Inc.
  • The Timken Company
  • Wafangdian Bearing Group Corp., Ltd.