San Francisco, 6 December 2018: The global bearings market is expected to
reach USD 172.2 billion by 2025, according to a new report by Grand View
Research, Inc. The market is anticipated to witness a healthy growth, ascribed
to achieve energy efficiency coupled with high demand across the automotive
sector. The increasing demand for commercial vehicles is anticipated to propel
demand across the automotive sector over the coming years. Bearings are
necessary in nearly all applications that involve motion, so all industries,
ranging from household appliances, automobiles, and industrial machinery to
aerospace, using machinery or related motor-driven linkages use bearings.
The global
bearings market is mature with a dynamic market demand closely related to the
state of engineering industries and capital goods. Manufacturers in the
bearings industry invest in R&D to address the rising competition by
offering innovative products.
The
technological advancements, such as smart bearings and lubrication technology,
incorporating sensor units in bearings, are estimated to offer high growth
opportunities to the market. Companies are offering integrated products that
drastically reduce the number of bearings required in an assembled product and
minimize the overall cost of the equipment. Moreover, it improves the
reliability and shelf-life of the product.
Access Research Report
of Bearings Market@ www.grandviewresearch.com/industry-analysis/bearings-market
Further key findings from the report suggest:
· The development of bearings that enable
cost-effective wind energy generation has led to their increased adoption across
wind turbine applications that help increase energy production, enhance turbine
performance & reliability, and reduce lubricant consumption
· Roller bearings are expected to outpace
ball bearings, as the largest product segment over the next few years, owing to
their capacity to carry heavy loads and shock or impact loading
· The railway & aerospace segment is
anticipated to witness the fastest growth at a CAGR exceeding 8% over the
forecast period, owing to their rising demand in applications including gearboxes,
shock absorbers, tilting mechanisms, doors, among others
· The Asia Pacific region is expected to
emerge as the fastest growing region with a CAGR exceeding 5% over the forecast
period on account of the increased demand for fuel-efficient passenger
vehicles, swift infrastructure development, and industrialization across the
region
· The key purveyors comprise NSK, Schaeffler,
Timken, SKF, JTEKT, and NTN. Several leading vendors are investing in
high-level R&D to come up with innovative bearing solutions. These
solutions are focused not only on improving the overall quality of the end-product,
but also on being cost-effective.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/automotive-and-transportation
Grand View
Research has segmented the bearings market based on product, application and
region:
Bearings
Product Outlook (Revenue, USD Billion; 2014 - 2025)
·
Ball Bearings
·
Roller Bearings
·
Others
Bearings
Application Outlook (Revenue, USD Billion; 2014 - 2025)
·
Automotive
·
Agriculture
·
Electrical
·
Mining & construction
·
Railway & Aerospace
·
Automotive aftermarket
·
Others
Bearings
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
The Middle East & Africa
Access Press Release of
Bearings Market@ www.grandviewresearch.com/press-release/global-bearings-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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