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Vacuum Bearing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Application, and Material

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    Report

  • 180 Pages
  • May 2022
  • Region: Global
  • The Insight Partners
  • ID: 5623599
UP TO OFF until Mar 15th 2023
The vacuum bearing market size was valued at US$ 9,967.73 million in 2021 and is projected to reach US$ 16,678.55 million by 2028. It is expected to grow at a CAGR of 7.7% from 2022 to 2028.

The vacuum bearing market in North America and Europe is expanding significantly. The growth of these regions' manufacturing and construction sectors is the main driving factor behind this growth. With the escalating renovation and new infrastructural projects, the flourishing construction sector is expected to drive the market during the forecast period.

Over the past few years, several economies, such as the US and Canada, have experienced massive infrastructural development, which has maximized the region's vacuum bearing demand. With the growth in the manufacturing and construction sectors, the demand for vacuum bearings is also increasing as vacuum bearings are used in earthquake-resistant building technology known as base isolation. Therefore, the increase in manufacturing and construction sectors in these regions will aid the vacuum bearing market growth over the coming years.

The APAC vacuum bearing market is reporting a rise due to the growing construction sector in this region. The construction sector is expected to be driven by increased spending on affordable housing development. Several governments of countries such as Indonesia and India actively provide land and construction costs subsidies. For instance, in India, the government initiated the Housing for All project in 2022, which is expected to drive the country's low-cost residential construction segment throughout the forecast period. Furthermore, under the Pradhan Mantri Awas Yojana, the Indian government has decided to provide interest subvention of 3% and 4% for loans of up to US$ 18,000 and US$ 13,500 to the lower strata of the society for buying and building homes. Thus, the growing construction sector creates huge opportunities for vacuum bearing manufacturers.

In the MEA and SAM, the vacuum bearing market is augmenting due to the rising automotive sector in both regions. The production of commercial vehicles in the MEA is increasing steadily. As per the Organisation Internationale des Constructors d'Automobiles (OICA) 2021 report, South Africa produced 259,820 commercial vehicles in 2021, 209,002 in 2020, and 283,318 in 2019. Thus, the continuous production of commercial vehicles across the region supports the market's growth in the MEA.

Further, the national regulatory bodies of various countries in the SAM have realized the importance of the automotive sector and are taking initiatives to develop the automotive sector. For instance, an initiative by the Brazilian authority regarding Route 2030 was announced in 2017, following the country's exit from recession. Route 2030 offered US$ 535 million as tax incentives to eligible automotive manufacturers in 2019 and will offer US$ 382 million annually till 2030. The program applies specifically to profitable auto companies actively investing in research and development, especially those developing technologies that boost energy efficiency within Brazil. Therefore, the rising automotive sector will help increase the demand for vacuum bearings as vacuum bearings help enhance car performance and boost efficiency by lessening the pressure on the brakes while the car is in motion. Bearings also allow the vehicle to readjust when traversing over rough terrain and dampen shocks and vibrations from sudden braking activity.

The key companies operating in the vacuum bearing market include HepcoMotion; NSK Ltd.; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; Bunting Bearings, LLC; TPA Motion, LLC; GMN Paul Müller Industrie GmbH & Co. KG; JTEKT Europe Bearings BV; UNASIS; and SKF.

The need for vacuum bearings was prevalent during the pre-COVID-19 era due to the growing urban population. Due to the increasing population, infrastructural development was increasing. According to the article published by the Journal of Commerce Online, the US Department of Transportation (DOT) allocated grants of ~US$ 856 million to Infrastructure for Rebuilding America (INFRA) for constructing 20 projects across the US. Thus, the need for developing infrastructure supported the market's growth in North America.

In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hindered the vacuum bearing market. For instance, in June 2020, the renovation work carried out at the University of Delaware's Worrilow Hall academic building was also impacted by COVID-19. The contractors had to revise their project plans to overcome the effects of the scarcity of materials and workers.

According to a national survey conducted by the Associated General Contractors of America (AGCA), out of 1,077 respondents, 78% of the contractors responded that they were experiencing project delays. Therefore, the overall impact of the COVID-19 pandemic on the market in North America was negative in 2020.

The overall global vacuum bearing 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 market. The process also serves the purpose of obtaining an overview and forecast for the Vacuum Bearing 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. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the vacuum bearing market.


Frequently Asked Questions about the Global Vacuum Bearing Market

What is the estimated value of the Global Vacuum Bearing Market?

The Global Vacuum Bearing Market was estimated to be valued at $9967.73 million in 2022.

What is the growth rate of the Global Vacuum Bearing Market?

The growth rate of the Global Vacuum Bearing Market is 7.7%, with an estimated value of $16678.55 million by 2028.

What is the forecasted size of the Global Vacuum Bearing Market?

The Global Vacuum Bearing Market is estimated to be worth $16678.55 million by 2028.

Who are the key companies in the Global Vacuum Bearing Market?

Key companies in the Global Vacuum Bearing Market include HepcoMotion, NSK Ltd., Schaeffler Technologies AG & Co. KG, THE TIMKEN COMPANY, Bunting Bearings, LLC, TPA Motion, LLC, GMN Paul Müller Industrie GmbH & Co. KG, JTEKT Europe Bearings B.V. and SKF.

Table of Contents

1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Vacuum Bearing Market - By Type
1.3.2 Global Vacuum Bearing Market - By Application
1.3.3 Global Vacuum Bearing Market - By Material
1.3.4 Global Vacuum Bearing Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Vacuum Bearing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Vacuum Bearing Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Growth of Global Space Sector
5.1.2 Benefits of Vacuum Bearings
5.2 Market Restraints
5.2.1 Fluctuating Raw Material Prices and High Maintenance Cost
5.3 Market Opportunities
5.3.1 Rising Applications of Bearing
5.4 Future Trends
5.4.1 Surge in Technological Advancement
5.5 Impact Analysis of Drivers and Restraints
6. Vacuum Bearing Market - Global Market Analysis
6.1 Vacuum Bearing Market Global Overview
6.2 Global Vacuum Bearing Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Vacuum Bearing Market Revenue and Forecast to 2028 - Type
7.1 Overview
7.2 Vacuum Bearing Market, By Type (2021 and 2028)
7.3 Cylindrical Roller Bearings
7.3.1 Overview
7.3.2 Cylindrical Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
7.4 Tapered Roller Bearings
7.4.1 Overview
7.4.2 Tapered Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
7.5 Spherical Roller Bearings
7.5.1 Overview
7.5.2 Spherical Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
7.6 Thrust Roller Bearings
7.6.1 Overview
7.6.2 Thrust Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
7.7 Needle Roller Bearings
7.7.1 Overview
7.7.2 Needle Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8. Vacuum Bearing Market Revenue and Forecast to 2028 - Application
8.1 Overview
8.2 Vacuum Bearing Market, By Application (2021 and 2028)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8.4 Manufacturing & Construction
8.4.1 Overview
8.4.2 Manufacturing & Construction: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8.5 Energy & Power
8.5.1 Overview
8.5.2 Energy & Power: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8.6 Mining
8.6.1 Overview
8.6.2 Mining: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8.7 Aerospace & Defense
8.7.1 Overview
8.7.2 Aerospace & Defense: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
9. Vacuum Bearing Market Revenue and Forecast to 2028 - Material
9.1 Overview
9.2 Vacuum Bearing Market, By Material (2021 and 2028)
9.3 Silicon
9.3.1 Overview
9.3.2 Silicon: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
9.4 Stainless Steel
9.4.1 Overview
9.4.2 Stainless Steel: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
9.5 Hybrid
9.5.1 Overview
9.5.2 Hybrid: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)
10. Vacuum Bearing Market - Geographic Analysis
10.1 Overview
10.2 North America: Vacuum Bearing Market
10.2.1 Overview
10.2.2 North America Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.2.3 North America Vacuum Bearing Market Breakdown, By Type
10.2.4 North America Vacuum Bearing Market Breakdown, By Application
10.2.5 North America Vacuum Bearing Market Breakdown, By Material
10.2.6 North America Vacuum Bearing Market Breakdown, by Country
10.2.6.1 US Vacuum Bearing Market, Revenue and Forecast to 2028
10.2.6.1.1 US Vacuum Bearing Market Breakdown, By Type
10.2.6.1.2 US Vacuum Bearing Market Breakdown, By Application
10.2.6.1.3 US Vacuum Bearing Market Breakdown, By Material
10.2.6.2 Canada Vacuum Bearing Market, Revenue and Forecast to 2028
10.2.6.2.1 Canada Vacuum Bearing Market Breakdown, By Type
10.2.6.2.2 Canada Vacuum Bearing Market Breakdown, By Application
10.2.6.2.3 Canada Vacuum Bearing Market Breakdown, By Material
10.2.6.3 Mexico Vacuum Bearing Market, Revenue and Forecast to 2028
10.2.6.3.1 Mexico Vacuum Bearing Market Breakdown, By Type
10.2.6.3.2 Mexico Vacuum Bearing Market Breakdown, By Application
10.2.6.3.3 Mexico Vacuum Bearing Market Breakdown, By Material
10.3 Europe: Vacuum Bearing Market
10.3.1 Overview
10.3.2 Europe Vacuum Bearing Market Revenue and Forecast to 2028 (US$ million)
10.3.3 Europe Vacuum Bearing Market Breakdown, By Type
10.3.4 Europe Vacuum Bearing Market Breakdown, By Application
10.3.5 Europe Vacuum Bearing Market Breakdown, By Material
10.3.6 Europe Vacuum Bearing Market Breakdown, by Country
10.3.6.1 Germany Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.1.1 Germany Vacuum Bearing Market Breakdown, By Type
10.3.6.1.2 Germany Vacuum Bearing Market Breakdown, By Application
10.3.6.1.3 Germany Vacuum Bearing Market Breakdown, By Material
10.3.6.2 France Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.2.1 France Vacuum Bearing Market Breakdown, By Type
10.3.6.2.2 France Vacuum Bearing Market Breakdown, By Application
10.3.6.2.3 France Vacuum Bearing Market Breakdown, By Material
10.3.6.3 Italy Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.3.1 Italy Vacuum Bearing Market Breakdown, By Type
10.3.6.3.2 Italy Vacuum Bearing Market Breakdown, By Application
10.3.6.3.3 Italy Vacuum Bearing Market Breakdown, By Material
10.3.6.4 UK Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.4.1 UK Vacuum Bearing Market Breakdown, By Type
10.3.6.4.2 UK Vacuum Bearing Market Breakdown, By Application
10.3.6.4.3 UK Vacuum Bearing Market Breakdown, By Material
10.3.6.5 Russia Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.5.1 Russia Vacuum Bearing Market Breakdown, By Type
10.3.6.5.2 Russia Vacuum Bearing Market Breakdown, By Application
10.3.6.5.3 Russia Vacuum Bearing Market Breakdown, By Material
10.3.6.6 Rest of Europe Vacuum Bearing Market, Revenue and Forecast to 2028
10.3.6.6.1 Rest of Europe Vacuum Bearing Market Breakdown, By Type
10.3.6.6.2 Rest of Europe Vacuum Bearing Market Breakdown, By Application
10.3.6.6.3 Rest of Europe Vacuum Bearing Market Breakdown, By Material
10.4 APAC: Vacuum Bearing Market
10.4.1 Overview
10.4.2 APAC Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.3 APAC Vacuum Bearing Market Breakdown, By Type
10.4.4 APAC Vacuum Bearing Market Breakdown, By Application
10.4.5 APAC Vacuum Bearing Market Breakdown, By Material
10.4.6 APAC Vacuum Bearing Market Breakdown, by Country
10.4.6.1 Australia Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.1.1 Australia Vacuum Bearing Market Breakdown, By Type
10.4.6.1.2 Australia Vacuum Bearing Market Breakdown, By Application
10.4.6.1.3 Australia Vacuum Bearing Market Breakdown, By Material
10.4.6.2 China Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.2.1 China Vacuum Bearing Market Breakdown, By Type
10.4.6.2.2 China Vacuum Bearing Market Breakdown, By Application
10.4.6.2.3 China Vacuum Bearing Market Breakdown, By Material
10.4.6.3 India Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.3.1 India Vacuum Bearing Market Breakdown, By Type
10.4.6.3.2 India Vacuum Bearing Market Breakdown, By Application
10.4.6.3.3 India Vacuum Bearing Market Breakdown, By Material
10.4.6.4 Japan Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.4.1 Japan Vacuum Bearing Market Breakdown, By Type
10.4.6.4.2 Japan Vacuum Bearing Market Breakdown, By Application
10.4.6.4.3 Japan Vacuum Bearing Market Breakdown, By Material
10.4.6.5 South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.5.1 South Korea Vacuum Bearing Market Breakdown, By Type
10.4.6.5.2 South Korea Vacuum Bearing Market Breakdown, By Application
10.4.6.5.3 South Korea Vacuum Bearing Market Breakdown, By Material
10.4.6.6 Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.4.6.6.1 Rest of APAC Vacuum Bearing Market Breakdown, By Type
10.4.6.6.2 Rest of APAC Vacuum Bearing Market Breakdown, By Application
10.4.6.6.3 Rest of APAC Vacuum Bearing Market Breakdown, By Material
10.5 MEA: Vacuum Bearing Market
10.5.1 Overview
10.5.2 MEA Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.5.3 MEA Vacuum Bearing Market Breakdown, By Type
10.5.4 MEA Vacuum Bearing Market Breakdown, By Application
10.5.5 MEA Vacuum Bearing Market Breakdown, By Material
10.5.6 MEA Vacuum Bearing Market Breakdown, By Country
10.5.6.1 Saudi Arabia Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.1.1 Saudi Arabia Vacuum Bearing Market Breakdown, By Type
10.5.6.1.2 Saudi Arabia Vacuum Bearing Market Breakdown, By Application
10.5.6.1.3 Saudi Arabia Vacuum Bearing Market Breakdown, By Material
10.5.6.2 UAE Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.2.1 UAE Vacuum Bearing Market Breakdown, By Type
10.5.6.2.2 UAE Vacuum Bearing Market Breakdown, By Application
10.5.6.2.3 UAE Vacuum Bearing Market Breakdown, By Material
10.5.6.3 South Africa Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.3.1 South Africa Vacuum Bearing Market Breakdown, By Type
10.5.6.3.2 South Africa Vacuum Bearing Market Breakdown, By Application
10.5.6.3.3 South Africa Vacuum Bearing Market Breakdown, By Material
10.5.6.4 Rest of MEA Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.5.6.4.1 Rest of MEA Vacuum Bearing Market Breakdown, By Type
10.5.6.4.2 Rest of MEA Vacuum Bearing Market Breakdown, By Application
10.5.6.4.3 Rest of MEA Vacuum Bearing Market Breakdown, By Material
10.6 SAM: Vacuum Bearing Market
10.6.1 Overview
10.6.2 SAM Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.6.3 SAM Vacuum Bearing Market Breakdown, By Type
10.6.4 SAM Vacuum Bearing Market Breakdown, By Application
10.6.5 SAM Vacuum Bearing Market Breakdown, By Material
10.6.6 SAM Vacuum Bearing Market Breakdown, By Country
10.6.6.1 Brazil Vacuum Bearing Market, Revenue and Forecast to 2028
10.6.6.1.1 Brazil Vacuum Bearing Market Breakdown, By Type
10.6.6.1.2 Brazil Vacuum Bearing Market Breakdown, By Application
10.6.6.1.3 Brazil Vacuum Bearing Market Breakdown, By Material
10.6.6.2 Argentina Vacuum Bearing Market, Revenue and Forecast to 2028
10.6.6.2.1 Argentina Vacuum Bearing Market Breakdown, By Type
10.6.6.2.2 Argentina Vacuum Bearing Market Breakdown, By Application
10.6.6.2.3 Argentina Vacuum Bearing Market Breakdown, By Material
10.6.6.3 Rest of SAM Vacuum Bearing Market, Revenue and Forecast to 2028
10.6.6.3.1 Rest of SAM Vacuum Bearing Market Breakdown, By Type
10.6.6.3.2 Rest of SAM Vacuum Bearing Market Breakdown, By Application
10.6.6.3.3 Rest of SAM Vacuum Bearing Market Breakdown, By Material
11. Impact of COVID-19 Pandemic on Vacuum Bearing Market
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 APAC: Impact Assessment of COVID-19 Pandemic
11.5 MEA: Impact Assessment of COVID-19 Pandemic
11.6 SAM: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Development
13. Company Profiles
13.1 HepcoMotion
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 NSK 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 Schaeffler Technologies AG & 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 Bunting Bearings, LLC
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 TPA Motion, LLC
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 GMN Paul Müller Industrie GmbH & Co. KG
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 JTEKT Europe Bearings B.V.
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 UNASIS
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 SKF
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 Glossary

Companies Mentioned

A selection of companies mentioned in this report includes:

  • HepcoMotion
  • NSK Ltd.
  • Schaeffler Technologies AG & Co. KG
  • THE TIMKEN COMPANY
  • Bunting Bearings, LLC
  • TPA Motion, LLC
  • GMN Paul Müller Industrie GmbH & Co. KG
  • JTEKT Europe Bearings B.V.
  • UNASIS
  • SKF