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Asia Pacific Vacuum Bearings Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type, Application, and Material

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    Report

  • 154 Pages
  • September 2022
  • Region: Asia Pacific
  • The Insight Partners
  • ID: 5668377
UP TO OFF until Mar 31st 2024
The APAC vacuum bearings market is expected to grow from US$ 5,124.21 million in 2022 to US$ 8,041.30 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.

Increasing funding in the space sector will likely witness increased opportunities, primarily in satellite broadband internet access. For instance, In May 2020, space investments stayed resilient at US$ 25.6 billion, and the impetus for investments had to continue solid in 2021. Space launch facilities recorded strong progress in 2021, with the market forecast to expand more than 15.7% year-over-year (Y-o-Y). Space exploration continued to evolve and flourish in 2021 due to diminishing launch costs and innovations in technology. Over the long term, prices are expected to continue dropping with companies deploying more satellites in the space ecosystem. For instance, in January 2021, more than 1,000 Starlink satellites were launched into orbit by SpaceX, and the company targets to further launch 4,425 satellites in orbit by 2024. Its launch costs decline because of reusable rockets and the mass production of satellites. The launch costs for satellites, which have already dropped from US$ 200 million in the past decade to about US$ 60 million presently, have the potential to decrease further to as low as US$ 5 million. Moreover, the launch of the Space Force in December 2019 influenced and propelled public-sector investments in 2021. These factors mentioned above positively impact the demand for various types of bearings, which play a vital part in producing space shuttles and other space launch components. For example, working in high temperatures between -200°C and +280°C, GGB's plain bearings have functioned as the primary suspension modules in the robotic drilling arm of NASA's Curiosity Mars rover. Also, the self-lubricating metal-polymer bearings are GGB's essential products in the aerospace sector. Besides GGB bearings, Curiosity used Timken's precision bearings in its descent to Mars in March 2021, and so did the other two rovers before it, namely, Spirit and Opportunity. Curiosity also used Timken bearings in the center core of its carousel system as it switched to position sample cups for gathering and examining rock, soil, and atmosphere. In addition, 2 6.35 mm Timken bearings operate Curiosity's tiny vacuum pump, which supports the rover's analytical equipment. Therefore, the demand for vacuum bearings is increasing due to rising growth of APAC space sector.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC vacuum bearings market . The APAC vacuum bearings market is expected to grow at a good CAGR during the forecast period.

APAC Vacuum Bearings Market Segmentation

The APAC vacuum bearings market is segmented based on product type, application, material, and country.
  • Based on product type, the APAC vacuum bearings market is divided into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. The cylindrical roller bearings segment would dominate the market in 2022. In terms of application, the APAC vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment would dominate the market in 2022.
  • Based on material, the APAC vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment would dominate the market in 2022.
  • Based on country, the APAC vacuum bearings market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China would dominate the APAC vacuum bearings market in 2022.
Key players operating the APAC vacuum bearings market include HepcoMotion; NSK Ltd; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; TPA Motion, LLC; GMN Paul Muller Industrie GmbH & Co. KG; JTEKT APAC Bearings B.V; UNASIS; and SKF by Altair.
Frequently Asked Questions about the Asian Pacific Vacuum Bearings Market

What is the estimated value of the Asian Pacific Vacuum Bearings Market?

The Asian Pacific Vacuum Bearings Market was estimated to be valued at $5124.21 Million in 2022.

What is the growth rate of the Asian Pacific Vacuum Bearings Market?

The growth rate of the Asian Pacific Vacuum Bearings Market is 7.7%, with an estimated value of $8041.3 Million by 2028.

What is the forecasted size of the Asian Pacific Vacuum Bearings Market?

The Asian Pacific Vacuum Bearings Market is estimated to be worth $8041.3 Million by 2028.

Who are the key companies in the Asian Pacific Vacuum Bearings Market?

Key companies in the Asian Pacific Vacuum Bearings Market include HepcoMotion, NSK Ltd, Schaeffler Technologies AG & Co. KG, THE TIMKEN COMPANY, TPA Motion, LLC, GMN Paul Muller Industrie GmbH & Co. KG, JTEKT Europe Bearings B.V, UNASIS 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 APAC Vacuum Bearing Market - By Type
1.3.2 APAC Vacuum Bearing Market - By Application
1.3.3 APAC Vacuum Bearing Market - By Material
1.3.4 APAC Vacuum Bearing Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Vacuum Bearing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Vacuum Bearing Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Expanding Growth of APAC Space Sector
5.1.2 Benefits of Vacuum Bearings
5.2 Market Restraints
5.2.1 Conflicting Raw Material Prices and High Maintenance Cost
5.3 Market Opportunities
5.3.1 Growing Applications of Bearing
5.4 Future Trends
5.4.1 Growth in Technological Advancement
5.5 Impact Analysis of Drivers and Restraints
6. Vacuum Bearing Market - APAC Market Analysis
6.1 Vacuum Bearing Market APAC Overview
6.2 APAC Vacuum Bearing Market Forecast and Analysis
7. APAC Vacuum Bearing Market - By Type
7.1 Overview
7.2 APAC 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. APAC Vacuum Bearing Market - By Application
8.1 Overview
8.2 APAC 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. APAC Vacuum Bearing Market - By Material
9.1 Overview
9.2 APAC 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. APAC Vacuum Bearing Market - By Country Analysis
10.1 APAC: Vacuum Bearing Market
10.1.1 Overview
10.1.3 APAC Vacuum Bearing Market Breakdown, by Country
10.1.3.1 Australia Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.1.1 Australia Vacuum Bearing Market Breakdown, By Type
10.1.3.1.2 Australia Vacuum Bearing Market Breakdown, By Application
10.1.3.1.3 Australia Vacuum Bearing Market Breakdown, By Material
10.1.3.2 China Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.2.1 China Vacuum Bearing Market Breakdown, By Type
10.1.3.2.2 China Vacuum Bearing Market Breakdown, By Application
10.1.3.2.3 China Vacuum Bearing Market Breakdown, By Material
10.1.3.3 India Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.3.1 India Vacuum Bearing Market Breakdown, By Type
10.1.3.3.2 India Vacuum Bearing Market Breakdown, By Application
10.1.3.3.3 India Vacuum Bearing Market Breakdown, By Material
10.1.3.4 Japan Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.4.1 Japan Vacuum Bearing Market Breakdown, By Type
10.1.3.4.2 Japan Vacuum Bearing Market Breakdown, By Application
10.1.3.4.3 Japan Vacuum Bearing Market Breakdown, By Material
10.1.3.5 South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.5.1 South Korea Vacuum Bearing Market Breakdown, By Type
10.1.3.5.2 South Korea Vacuum Bearing Market Breakdown, By Application
10.1.3.5.3 South Korea Vacuum Bearing Market Breakdown, By Material
10.1.3.6 Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.6.1 Rest of APAC Vacuum Bearing Market Breakdown, By Type
10.1.3.6.2 Rest of APAC Vacuum Bearing Market Breakdown, By Application
10.1.3.6.3 Rest of APAC Vacuum Bearing Market Breakdown, By Material
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
12.1 HepcoMotion
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 NSK Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Schaeffler Technologies AG & Co. KG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 THE TIMKEN COMPANY
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 TPA Motion, LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 GMN Paul Müller Industrie GmbH & Co. KG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 JTEKT Europe Bearings B.V.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 UNASIS
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 SKF
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Glossary

Companies Mentioned

A selection of companies mentioned in this report includes:

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