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Low Temperature Bearings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Material, and Application

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    Report

  • 180 Pages
  • May 2022
  • Region: Global
  • The Insight Partners
  • ID: 5623574
UP TO OFF until Mar 15th 2023
The low temperature bearings market was valued at US$ 547.71 million in 2021 and is projected to reach US$ 752.72 million by 2028; it is expected to grow at a CAGR of 4.9% from 2022 to 2028.

The low temperature bearings market in North America is segmented into the US, Canada, and Mexico. The region is expected to provide lucrative opportunities to the low temperature bearings market during the forecast period. The continuous contribution of tech giants in technological advancements has created a stir in the competitive market across the region, thereby integrating advanced technologies in their respective business processes for better future growth. North American countries, especially the US and Canada, are technologically advanced and comprise numerous industries, such as automotive, pharmaceutical, semiconductor, and chemicals, which propels the growth of low temperature bearings market in North America.

NSK has developed new self-lubricating deep groove ball bearings for cryogenic gases, such as hydrogen and LNG, which are handled by submersible pumps. The double bearing of the pump shaft is a significant design feature in these pumps. Corrosion resistance is critical, and no other lubricant than the medium washing around the bearing may be utilized. NSK bearings are available in a variety of sizes and are suitable to use in big hydrogen pumping plants and decentralized applications, such as hydrogen filling stations. Additionally, SKF is spending around USD 55 million in North America to improve its industrial footprint and competitiveness. An additional US 20 million will be invested in relocating the production of Tapered Roller Bearings (TRBs) from China to a facility in Mexico. The move will boost SKF's North American product range while supporting the Group's regional manufacturing objectives.

The energy mix used to generate power in the US has shifted throughout time, particularly in recent years. Natural gas and renewable energy sources are growing their proportion of power generation in the country, while coal-fired electricity output is decreasing. Coal accounted for 20% of total utility-scale power generation by the end of 2020, while coal accounted for 19% of total utility-scale energy generation. As a result, the country's expanded energy & power industry presents a huge potential for the low temperature bearings market suppliers.

Organic chemical manufacturing; train, subway, and transit car manufacturing, and semiconductor machinery manufacturing are among the 151 industries in the Canada manufacturing sector. The increase of revenue, company, and employment varies greatly per industry. Kaman delivers maintenance-free bearings that boost reliability and application life while lowering operating costs in demanding applications throughout industries. Kaman offers a variety of self-lubricating bearing liners, and the user's decision will be determined by the application. Some liners are designed for high-speed or high-load applications, while others are designed for high-temperature or high-impact environments. As a result, the growing manufacturing sector in the country propels the demand for mechanical components, such as low temperature bearings.

NTN Corporation, SKF Group, Timken Company, DuPont, Nachi-Fujikoshi Corp, Albeco Buchalter, American Roller Bearing Company, GEBR. Reinfurt GMBH and CO KG, Durofit Technologies Private Limited, and ZYS Bearing Research Institute Co. Ltd. are among the key companies operating in the low temperature bearings market.

The COVID-19 pandemic affected the majority of businesses globally. The continuous growth in the count of virus-infected patients compelled respective government authorities to impose respective curbs on the movement of humans, goods, and commodities with travel restrictions, mass lockdowns, and business shutdowns. The imposition of lockdown resulted in the lesser production of commodities and goods and lowered the frequency of service offerings. The manufacturing and aerospace industries witnessed a notable decline in their revenues due to the temporary shutdown of operations. In the first quarter of 2020, after the imposition of a nationwide lockdown in most nations, many industrial sectors came to a standstill. Further, low temperature bearings is extensively used in the pharmaceutical industry, aerospace, and manufacturing industry. However, as the situation has normalized , the low temperature bearings market is expected to grow remarkably worldwide.

The COVID-19 pandemic negatively impacted several end-use industries, such as manufacturing and aerospace, due to the interruption in the supply chain of raw materials and the temporary shutdown of production facilities. Further, low-temperature bearing is used to improve the pump performance in end-use industries; hence, the demand for the low-temperature bearing is closely tied to the functioning of production facilities. As a result, disruptions in manufacturing operations are projected to have a negative impact on the global low temperature bearings market in the future. Low temperature bearings market players globally faced severe challenges due to supply chain disruptions of low temperature bearings components, which led to a supply-demand gap that negatively influenced the low temperature bearings market growth.

The overall global low temperature bearings market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the low temperature bearings market. The process also serves the purpose of obtaining an overview and forecast for the low temperature bearings market analysis with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the low temperature bearings market.


Frequently Asked Questions about the Global Low Temperature Bearings Market

What is the estimated value of the Global Low Temperature Bearings Market?

The Global Low Temperature Bearings Market was estimated to be valued at $547.71 million in 2022.

What is the growth rate of the Global Low Temperature Bearings Market?

The growth rate of the Global Low Temperature Bearings Market is 4.9%, with an estimated value of $752.72 million by 2028.

What is the forecasted size of the Global Low Temperature Bearings Market?

The Global Low Temperature Bearings Market is estimated to be worth $752.72 million by 2028.

Who are the key companies in the Global Low Temperature Bearings Market?

Key companies in the Global Low Temperature Bearings Market include NTN Corporation, SKF Group, Timken Company, DuPont, Nachi, Fujikoshi Corp, Albeco Buchalter, American Roller Bearing Company and Durofit Technologies Private Limited.

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Low temperature bearings Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Low Temperature Bearings Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Low Temperature Bearings Across Entire LNG (Liquified Natural Gas) Value Chain
5.1.2 Rising Use of Lliquid Nitrogen Equipment
5.2 Market Restraints
5.2.1 High Cost of Raw Material
5.3 Market Opportunities
5.3.1 Increasing Demand for Plain Bearings
5.4 Future Trends
5.4.1 Emergence of Self-Lubricating Deep Groove Ball Bearings
5.5 Impact Analysis of Drivers and Restraints
6. Low Temperature Bearings Market - Regional Analysis
6.1 Low Temperature Bearings Market Global Overview
6.2 Low temperature bearings Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Low Temperature Bearings Market Analysis - By Type
7.1 Overview
7.2 Low Temperature Bearings Market, by Type (2021 and 2028)
7.3 Cryogenic Bearings
7.3.1 Overview
7.3.2 Cryogenic Bearings: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Plain Bearings
7.4.1 Overview
7.4.2 Plain Bearings: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Rolling Element Bearings
7.5.1 Overview
7.5.2 Rolling Element Bearings: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Jewel Bearings
7.6.1 Overview
7.6.2 Jewel Bearings: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
8. Low Temperature Bearings Market - By Application
8.1 Overview
8.2 Low Temperature Bearings Market, by Application (2021 and 2028)
8.3 Aerospace
8.3.1 Overview
8.3.2 Aerospace: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Pharmaceutical
8.4.1 Overview
8.4.2 Pharmaceutical: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Manufacturing
8.5.1 Overview
8.5.2 Manufacturing: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
9. Low Temperature Bearings Market - By Material
9.1 Overview
9.2 Low Temperature Bearings Market, by Material (2021 and 2028)
9.3 Stainless Steel
9.3.1 Overview
9.3.2 Stainless Steel: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Ceramic
9.4.1 Overview
9.4.2 Ceramic: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
9.5 Bearing Steel
9.5.1 Overview
9.5.2 Bearing Steel: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10. Low temperature bearings Market - Geographic Analysis
10.1 Overview
10.2 North America: Low Temperature Bearings
10.2.1 North America: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.2.2 North America: Low Temperature Bearings, By Type
10.2.3 North America: Low Temperature Bearings Market, By Application
10.2.4 North America: Low Temperature Bearings Market, By Material
10.2.5 North America: Low Temperature Bearings, by Key Country
10.2.5.1 US: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.2.5.1.1 US: Low Temperature Bearings, By Type
10.2.5.1.2 US: Low Temperature Bearings Market, By Application
10.2.5.1.3 US: Low Temperature Bearings Market, By Material
10.2.5.2 Canada: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.2.5.2.1 Canada: Low Temperature Bearings, By Type
10.2.5.2.2 Canada: Low Temperature Bearings Market, By Application
10.2.5.2.3 Canada: Low Temperature Bearings Market, By Material
10.2.5.3 Mexico: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.2.5.3.1 Mexico: Low Temperature Bearings, By Type
10.2.5.3.2 Mexico: Low Temperature Bearings Market, By Application
10.2.5.3.3 Mexico: Low Temperature Bearings Market, By Material
10.3 Europe: Low Temperature Bearings Market
10.3.1 Europe: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.2 Europe: Low Temperature Bearings Market- by Type
10.3.3 Europe: Low Temperature Bearings Market- By Application
10.3.4 Europe: Low Temperature Bearings Market- By Material
10.3.5 Europe: Low Temperature Bearings Market- by Key Country
10.3.5.1 Germany: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.1.1 Germany: Low Temperature Bearings Market- by Type
10.3.5.1.2 Germany: Low Temperature Bearings Market- By Application
10.3.5.1.3 Germany: Low Temperature Bearings Market- By Material
10.3.5.2 France: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.2.1 France: Low Temperature Bearings Market- by Type
10.3.5.2.2 France: Low Temperature Bearings Market- By Application
10.3.5.2.3 France: Low Temperature Bearings Market- By Material
10.3.5.3 UK: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.3.1 UK: Low Temperature Bearings Market- by Type
10.3.5.3.2 UK: Low Temperature Bearings Market- By Application
10.3.5.3.3 UK: Low Temperature Bearings Market- By Material
10.3.5.4 Italy: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.4.1 Italy: Low Temperature Bearings Market- by Type
10.3.5.4.2 Italy: Low Temperature Bearings Market- By Application
10.3.5.4.3 Italy: Low Temperature Bearings Market- By Material
10.3.5.5 Russia: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.5.1 Russia: Low Temperature Bearings Market- by Type
10.3.5.5.2 Russia: Low Temperature Bearings Market- By Application
10.3.5.5.3 Russia: Low Temperature Bearings Market- By Material
10.3.5.6 Rest of Europe: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.3.5.6.1 Rest of Europe: Low Temperature Bearings Market- by Type
10.3.5.6.2 Rest of Europe: Low Temperature Bearings Market- By Application
10.3.5.6.3 Rest of Europe: Low Temperature Bearings Market- By Material
10.4 APAC: Low Temperature Bearings Market
10.4.1 APAC: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.2 APAC: Low Temperature Bearings Market- by Type
10.4.3 APAC: Low Temperature Bearings Market- By Application
10.4.4 APAC: Low Temperature Bearings Market- By Material
10.4.5 APAC: Low Temperature Bearings Market- by Key Country
10.4.5.1 China: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.1.1 China: Low Temperature Bearings Market- by Type
10.4.5.1.2 China: Low Temperature Bearings Market- By Application
10.4.5.1.3 China: Low Temperature Bearings Market- By Material
10.4.5.2 India: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.2.1 India: Low Temperature Bearings Market- by Type
10.4.5.2.2 India: Low Temperature Bearings Market- By Application
10.4.5.2.3 India: Low Temperature Bearings Market- By Material
10.4.5.3 Japan: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.3.1 Japan: Low Temperature Bearings Market- by Type
10.4.5.3.2 Japan: Low Temperature Bearings Market- By Application
10.4.5.3.3 Japan: Low Temperature Bearings Market- By Material
10.4.5.4 South Korea: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.4.1 South Korea: Low Temperature Bearings Market- by Type
10.4.5.4.2 South Korea: Low Temperature Bearings Market- By Application
10.4.5.4.3 South Korea: Low Temperature Bearings Market- By Material
10.4.5.5 Australia: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.5.1 Australia: Low Temperature Bearings Market- by Type
10.4.5.5.2 Australia: Low Temperature Bearings Market- By Application
10.4.5.5.3 Australia: Low Temperature Bearings Market- By Material
10.4.5.6 Rest of APAC: Low Temperature Bearings Market - Revenue and Forecast to 2028 (US$ Million)
10.4.5.6.1 Rest of APAC: Low Temperature Bearings Market- by Type
10.4.5.6.2 Rest of APAC: Low Temperature Bearings Market- By Application
10.4.5.6.3 Rest of APAC: Low Temperature Bearings Market- By Material
10.5 MEA: Low Temperature Bearings
10.5.1 MEA: Low Temperature Bearings - Revenue and Forecast to 2028 (US$ Million)
10.5.2 MEA: Low Temperature Bearings, By Type
10.5.3 MEA: Low Temperature Bearings Market, By Application
10.5.4 MEA: Low Temperature Bearings Market, By Material
10.5.5 MEA: Low Temperature Bearings, by Key Country
10.5.5.1 South Africa: Low Temperature Bearings - Revenue and Forecast to 2028 (US$ Million)
10.5.5.1.1 South Africa: Low Temperature Bearings, By Type
10.5.5.1.2 South Africa: Low Temperature Bearings Market, By Application
10.5.5.1.3 South Africa: Low Temperature Bearings Market, By Material
10.5.5.2 UAE: Low Temperature Bearings - Revenue and Forecast to 2028 (US$ Million)
10.5.5.2.1 UAE: Low Temperature Bearings, By Type
10.5.5.2.2 UAE: Low Temperature Bearings Market, By Application
10.5.5.2.3 UAE: Low Temperature Bearings Market, By Material
10.5.5.3 Saudi Arabia: Low Temperature Bearings - Revenue and Forecast to 2028 (US$ Million)
10.5.5.3.1 Saudi Arabia: Low Temperature Bearings, By Type
10.5.5.3.2 Saudi Arabia: Low Temperature Bearings Market, By Application
10.5.5.3.3 Saudi Arabia: Low Temperature Bearings Market, By Material
10.5.5.4 Rest of MEA: Low Temperature Bearings - Revenue and Forecast to 2028 (US$ Million)
10.5.5.4.1 Rest of MEA: Low Temperature Bearings, By Type
10.5.5.4.2 Rest of MEA: Low Temperature Bearings Market, By Application
10.5.5.4.3 Rest of MEA: Low Temperature Bearings Market, By Material
10.6 SAM: Low Temperature Bearings
10.6.1 SAM: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.6.2 SAM: Low Temperature Bearings, By Type
10.6.3 SAM: Low Temperature Bearings Market, By Application
10.6.4 SAM: Low Temperature Bearings Market, By Material
10.6.5 SAM: Low Temperature Bearings, by Key Country
10.6.5.1 Brazil: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.6.5.1.1 Brazil: Low Temperature Bearings, By Type
10.6.5.1.2 Brazil: Low Temperature Bearings Market, By Application
10.6.5.1.3 Brazil: Low Temperature Bearings Market, By Material
10.6.5.2 Argentina: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.6.5.2.1 Argentina: Low Temperature Bearings, By Type
10.6.5.2.2 Argentina: Low Temperature Bearings Market, By Application
10.6.5.2.3 Argentina: Low Temperature Bearings Market, By Material
10.6.5.3 Rest of SAM: Low Temperature Bearings - Revenue, and Forecast to 2028 (US$ Million)
10.6.5.3.1 Rest of SAM: Low Temperature Bearings, By Type
10.6.5.3.2 Rest of SAM: Low Temperature Bearings Market, By Application
10.6.5.3.3 Rest of SAM: Low Temperature Bearings Market, By Material
11. Low temperature bearings Market- COVID-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of Covid-19 Pandemic
11.3 Europe: Impact Assessment of Covid-19 Pandemic
11.4 Asia Pacific: Impact Assessment of Covid-19 Pandemic
11.5 Middle East & Africa: Impact Assessment of Covid-19 Pandemic
11.6 South America: Impact Assessment of Covid-19 Pandemic
12. Low Temperature Bearings Market- Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 SKF
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Durofit Technologies Pvt Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Gebr. Reinfurt GmbH & Co. KG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 THE TIMKEN COMPANY
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 ZYS Bearing Research Institute Co., Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 NSK Europe Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Carter Manufacturing LTD.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 CEROBEAR GmbH
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Luoyang Monton Bearing Science &Technology Co.,ltd.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 RBC Bearings Incorporated
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Word Index
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TABLE OF CONTENTS

Companies Mentioned

A selection of companies mentioned in this report includes:

  • NTN Corporation
  • SKF Group
  • Timken Company
  • DuPont
  • Nachi-Fujikoshi Corp
  • Albeco Buchalter
  • American Roller Bearing Company
  • GEBR. Reinfurt GMBH and CO KG
  • Durofit Technologies Private Limited
  • ZYS Bearing Research Institute Co. Ltd