Bearings Market by Type, By Bearing Outer Diameter and Others, By Application - Global Opportunity and Forecasts, 2014-2022

  • ID: 4227007
  • Report
  • Region: Global
  • 223 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • C&U Group
  • JTEKT Corporation
  • NKE Austria GmbH
  • NSK Ltd.
  • NTN Corporation
  • Schaeffler AG
  • MORE

Bearings Market by Type (Ball Bearings, Plain Bearings, and Others), By Bearing Outer Diameter (Below 5mm, 6-10mm, 10-21mm, 22mm, 23-32mm, 33-40mm, 41-45mm, and Others (>45mm)), By Application (Automotive, Electrical, Agriculture, Mining & Construction, Railway & Aerospace) - Global Opportunity and Forecasts, 2014-2022

Bearings are antifriction devices used in rotating equipment to minimize resistance and reduce wear and tear. These are used in various industries including automotive, electrical, mining & construction, and railway & aerospace and are manufactured using high grade steel or alloy steel. In general, raw materials account for two-thirds of the cost structure of a company. Although bearing manufacturers have higher pricing flexibility due to technology know-how and strong aftermarket presence, their productivity is affected by increase in cost of steel. The global bearings market size was estimated at $78,779 million in 2014. It is estimated to be valued at $140,792 million in 2022, registering a CAGR of 7.5% during the forecast period.

The global bearings market is driven by increase in the demand for bearings in the automotive industry, as the implementation of bearings helps reduce wear and tear caused by friction. The manufacturing industry exhibits the highest demand for bearings. Moreover, ongoing developments in the automotive sector is a major factor that fuels the adoption of bearings in the global market. The adoption of bearings is the highest among automotive industries in countries in the Asia-Pacific region such as India, China, Japan, and South Korea. This trend is expected to significantly supplement the bearings market growth due to rapid mechanization.

The other major drivers of the market are high demand for bearings in the defense & aerospace industry and growth in need to reduce energy expenses. Moreover, increase in demand for aerospace equipment in emerging economies such as India, China, Russia, and Japan is expected to boost the bearings market growth. However, the imminent growth of bearings is estimated to be detrimental for the market growth, as this is projected to lower the demand for aftersales facilities.

Replacement of bearings is the only possible aftersales operation for bearing suppliers. Therefore, the advent of technologically advanced bearings is expected to hamper the productivity for manufacturers in the near future.

Increase in demand for automobiles and automotive components majorly drive the market. Partnerships and acquisitions are the key strategies adopted by market players to increase their bearings market shares. For instance, SKF AB signed an agreement with Autopartes NAPA Mexico to sell vehicle aftermarket products in the latter’s new stores to increase its sales in Mexico. In 2015, RBC Bearings acquired the Sargent Aerospace & Defense business of Dover Corporation. This acquisition enabled RBC Bearings to expand its product portfolio and customer base.

The global bearings market is segmented, based on bearing type, into ball bearings, plain bearings, and others. Ball bearings is further classified into deep grove ball bearings (open and sealed) and others (angular, contact, and thrust). Upsurge in construction activities in railway across developing countries is expected to boost the ball bearings market in the near future.

The market is segmented based on the outer diameter of the ball bearings, into below 5mm, 6-10mm, 10-21mm, 22mm, 23-32mm, 33-40mm, 41-45mm, and others (>45mm). In the present scenario, the deep grove ball bearings segment accounted for the largest share of 30% in the global bearings market in 2015.

The application areas of the market are automotive, electrical, agriculture, mining & construction, railway & aerospace, and others. The automotive segment is expected to witness significant growth rate throughout 2022, owing to rapid industrialization in the Asia-Pacific and LAMEA regions.

The market is analyzed based on four regions, which include North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa (LAMEA). The Asia-Pacific region is expected to grow at a CAGR of 8.6% during the forecast period. This region is expected to dominate the global bearings industry, owing to rapid industrialization, booming automotive industry, and upsurge in use of bearings for manufacturing heavy machinery.

KEY BENEFITS

The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global bearings market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets of the market.
Current and future trends adopted by the key market players are highlighted to determine overall competitiveness of the market.
Value chain analysis provides a systematic study of the key intermediaries involved to formulate effective strategies.
The quantitative analysis of the market through 2014-2022 is provided to elaborate the market potential.

Key Market Segments
The global bearings market is segmented based on bearing type, bearing outer diameter, application, and geography.

By Type

Ball Bearings
Deep Groove Ball Bearings
Open
Sealed
Others (Angular, Contact, and Thrust)
Plain Bearings
Others (Roller Bearings, Journal Bearings, Sleeve Bearings, Composite Bearings, and Rifle Bearings)

By Outer Diameter

Below 5mm
6mm-10mm
10mm-21mm
22mm
23mm-32mm
33-40mm
41mm-45mm
Others (>45mm)

By Applications

Automotive
Electrical
Agriculture
Mining & Construction
Railway & Aerospace
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Arica
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • C&U Group
  • JTEKT Corporation
  • NKE Austria GmbH
  • NSK Ltd.
  • NTN Corporation
  • Schaeffler AG
  • MORE
CHAPTER 1. INTRODUCTION

1.1. Report Description
1.2. Key benefits
1.3. Key market segmentation
1.4. Key aUDIENCES
1.5. Research methodology

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

CHAPTER 2. EXECUTIVE SUMMARY

2.1. CXO perspective

CHAPTER 3. MARKET OVERVIEW

3.1. MArket definition and scope
3.2. Key findings

3.2.1. Top impacting factors

3.2.1.1. Increase in use of bearings in heavy machinery
3.2.1.2. High demand for application-specific bearings
3.2.1.3. Emergence of sensor bearing units
3.2.1.4. Increase in price of steel
3.2.1.5. Increasing use of counterfeit products
3.2.1.6. Surge in production of motor vehicles in emerging economies

3.2.2. Top investment pockets
3.2.3. Top winning strategies

3.3. Porters five forces analysis

3.3.1. Low bargaining power of suppliers
3.3.2. Moderate-to-low bargaining power of buyers
3.3.3. High threat of substitutes
3.3.4. High threat of new entrants
3.3.5. Moderate-to-high competitive rivalry

3.4. Value chain analysis

3.4.1. Bearings manufacturers
3.4.2. Industrial equipment manufacturers
3.4.3. End users

3.5. MARKET PLAYER POSITIONING

3.5.1. Market share analysis, 2015 (%)

3.6. MARKET DYNAMICS

3.6.1. Drivers

3.6.1.1. Upsurge in adoption of bearings in heavy machineries
3.6.1.2. Increase in demand for lightweight bearings in automotive sector
3.6.1.3. Increase in need for application-specific bearings
3.6.1.4. Development of sensor-equipped bearings

3.6.2. Restraints

3.6.2.1. Easy availability of counterfeit products
3.6.2.2. Rise in price of steel

3.6.3. Opportunities

3.6.3.1. Surge in production of motor vehicles in emerging economies
3.6.3.2. Adoption of advanced technology to develop smart bearings
3.6.3.3. Expansion in renewable energy sector

CHAPTER 4. BEARINGS MARKET, BY BEARING TYPE

4.1. Overview
4.2. Ball Bearings

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast ($million)
4.2.4. Market volume and forecast (million units)
4.2.5. Deep Grove Ball Bearings

4.2.5.1. Market size and forecast ($million)
4.2.5.2. Market volume and forecast (million units)
4.2.5.3. Open
4.2.5.4. Sealed

4.2.6. Others (angular contact and thrust bearings)

4.3. Plain bearings

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities

4.3.2.1. Market size and forecast ($million)
4.3.2.2. Market volume and forecast (million units)

4.4. Others (roller, magnetic, rifle, and composite bearings)

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities

4.4.2.1. Market size and forecast ($million)
4.4.2.2. Market volume and forecast (million units)

CHAPTER 5. DEEP GROOVE BALL BEARINGS MARKET, BY BEARING OUTER DIAMETER

5.1. Overview
5.2. Below 5mm

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities

5.3. 6mm-10mm

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities

5.4. 10mm-21mm

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities

5.5. 22mm

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities

5.6. 23mm-32mm

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities

5.7. 33mm-40mm

5.7.1. Key market trends
5.7.2. Key growth factors and opportunities

5.8. 41mm-45mm

5.8.1. Key market trends
5.8.2. Key growth factors and opportunities

5.9. Others (>45mm)

5.9.1. Key market trends
5.9.2. Key growth factors and opportunities

CHAPTER 6. BEARINGS MARKET, BY APPLICATION

6.1. Overview
6.2. Automotive

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities

6.2.2.1. Market size and forecast ($million)
6.2.2.2. Market volume and forecast (million units)

6.3. Electrical

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities

6.3.2.1. Market size and forecast ($million)
6.3.2.2. Market volume and forecast (million units)

6.4. Agriculture

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities

6.4.2.1. Market size and forecast ($million)
6.4.2.2. Market volume and forecast (million units)

6.5. Mining & Construction

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities

6.5.2.1. Market size and forecast ($million)
6.5.2.2. Market volume and forecast (million units)

6.6. Railway & aerospace

6.6.1. Key market trends
6.6.2. Key growth factors and opportunities

6.6.2.1. Market size and forecast ($million)
6.6.2.2. Market volume and forecast (million units)

6.7. Others (Medical & healthcare and food & beverage)

6.7.1. Key market trends
6.7.2. Key growth factors and opportunities

6.7.2.1. Market size and forecast ($million)
6.7.2.2. Market volume and forecast (million units)

CHAPTER 7. BEARINGS MARKET, BY GEOGRAPHY

7.1. Overview

7.2. North America

7.2.1. Key market trends
7.2.2. Key growth factors and opportunities

7.2.2.1. Market size and forecast ($million)
7.2.2.2. Market volume and forecast (million units)
7.2.2.3. U.S.
7.2.2.4. Canada
7.2.2.5. Mexico

7.3. Europe

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities

7.3.2.1. Market size and forecast ($million)
7.3.2.2. Market volume and forecast (million units)
7.3.2.3. UK
7.3.2.4. Germany
7.3.2.5. France
7.3.2.6. Italy
7.3.2.7. Rest of Europe

7.4. Asia-Pacific

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities

7.4.2.1. Market size and forecast ($million)
7.4.2.2. Market volume and forecast (million units)
7.4.2.3. China
7.4.2.4. India
7.4.2.5. Japan
7.4.2.6. South Korea
7.4.2.7. Rest of Asia-Pacific

7.5. LAMEA

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities

7.5.2.1. Market size and forecast ($million)
7.5.2.2. Market volume and forecast (million units)
7.5.2.3. Latin America
7.5.2.4. Middle East
7.5.2.5. Africa

CHAPTER 8. COMPANY PROFILES

8.1. C&U Group

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments

8.2. Federal Moghul Holding Corporation

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.2.5. Key strategic moves and developments

8.3. JTEKT Corporation

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments

8.4. NKE AUSTRIA GmbH

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Business performance
8.4.5. Key strategic moves and developments

8.5. NSK Limited

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments

8.6. NTN Corporation

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments

8.7. Schaeffler Group

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments

8.8. SKF AB

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments

8.9. THK Company

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance

8.10. TIMKEN Company

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
8.10.5. Key strategic moves and developments
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • C&U Group
  • JTEKT Corporation
  • NKE Austria GmbH
  • NSK Ltd.
  • NTN Corporation
  • Schaeffler AG
  • MORE
Global Bearings Market Report, forecasts that the global was valued at $84,915 million in 2015 and is projected to reach $140,792 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022.

Bearings are antifriction devices used in rotating equipment to minimize resistance and reduce wear and tear. They are used in various industries including automotive, electrical, mining & construction, and railway and aerospace.

Rapid industrialization in potential regions, such as Mexico, Indonesia, Nigeria, and Russia drives the industrial bearings industry. The implementation of bearings across various applications is expected to reinforce the need for replacements and renovations, thereby accelerating market demand. Furthermore, upsurge in the production of motor vehicles in Asian economies, such as China, India, and South Korea are expected to provide opportunities to key vendors in this market. This trend is projected to continue in the future and drive the bearings market growth.

By bearings type, the ball bearings segment dominated the market in 2014 with around 51% market revenue share. Furthermore, the segment is projected to continue its dominance throughout the forecast period, owing to the increase in application of ball bearings in technologically advanced applications, such as telescope, weather satellites, exercise equipment, and turbines.

Based on the geography, the bearings market is segmented into four major regions, namely North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2014, accounting for around 37% share of the overall bearings market. The Asia-Pacific market is projected to grow at the highest CAGR of 8.6% during the forecast period due to advancements in manufacturing sector, along with strong retrieval of motor vehicle industry in economies, such as India, China, and Japan.

The report features a competitive scenario of the bearings market and provides comprehensive analysis of key growth strategies adopted by major players in the bearings industry. Some of the key players operating in the bearings market include C&U Group, Federal Moghul Holding Corporation, JTEKT Corporation, NKE Austria GmbH, NSK Limited, NTN Corporation, Schaeffler Group, SKF AB, THK Company, and Timken Company.

Key Findings of the Bearings Market:

The ball bearings segment dominated the bearing type market in 2014, and is expected to grow at a CAGR of 6.4% during the forecast period.
Among outer diameter, the 23mm-32mm outer diameter is projected to create significant growth opportunities for prominent players operating in the global bearings market.
Asia-Pacific dominated the global bearings market size in 2014. Moreover, the segment is projected to continue its dominance throughout the forecast period.
The U.S. was leading in terms of spending on bearings in 2014. In addition, India, China, and other emerging markets are projected to provide significant opportunities for major players operating in the market.
Note: Product cover images may vary from those shown
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  • C&U Group
  • Federal Moghul Holding Corporation
  • JTEKT Corporation
  • NKE Austria GmbH
  • NSK Ltd.
  • NTN Corporation
  • Schaeffler AG
  • SKF AB
  • THK Company
  • TIMKEN Company
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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