The Global Bearings Market size was projected at USD 80.2 billion in 2014, and USD 201.2 billion in 2018 is estimated to reach at a CAGR of 7.1% during the forecast period, i.e. 2017-2025 due to increasing demand form application such as Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace sectors.

Global Bearings Market Growth Opportunities (Revenue, Growth) By 2017-2025

Bearing is machine equipment which reduces friction between moving parts. They virtually used in every kind of Machinery, equipment, defence  and Aerospace equipment, etc. there are many types of bearings like plain Bearing ,ball bearing, roller bearing. The most sophisticated bearing for the most demanding application are very precise devices, the upcoming trend requires some of the highest standards of current technology.

Bearings also referred to as anti-friction components, are modules that reduce resistance and improve the mobility of components, automotive and industrial industries from these industries bearing industry getting boom in the market.

Market Dynamic:

The global bearing market is expected to register high growth rate during 2018 to 2025. The growth of bearing market is primarily driven by the increase in investments across railway & aerospace sectors. Additionally, raid growth in the demand of commercial aircrafts is boosting the sales of the bearing market during the forecast period. Furthermore, rising demand for specialised bearing solutions, that meets the need of different and specific requirements of various industries.

Similarly, increasing number of technological developments and product developments by the manufacturers to also support the market growth in the coming years.  Rising demand for high-performance bearings has resulted in manufacturers integrating advanced sensor units in their products, also are considered to add value by reducing effective cost of bearings to improve the market growth in the coming years.

Market segmentation:

On the basis of product, the bearing market is segmented as ball and roller. Ball segment is considered to be the fastest growing segment owning to its functional property. Ball bearing reduced the friction between the two surfaces, which has helped in the increasing adoption of ball bearings in automotive industry. Whereas, roller bearings to grow at a faster rate by 2025.  

Based on application, the bearing market is sub segmented as automotive, agriculture, electrical, mining & construction, and railway & aerospace. The automotive segment held the largest market share, owing to increase in the automotive production, globally. Also, the demand for vehicles with technologically advanced solutions is escalating, leading to rise in vehicle manufacturing that necessitates instrumented products. The railway and aerospace segment emerge as the fastest growing segment by 2025, attributed to growing global travel, need to renew aging fleets owing to stringent environmental legislation, and fuel price pressure coupled with the availability of improved ways to assist global and local transportation systems.

Bearing Market is basically segmented based on different type of bearings. Ball bearing has wide market as compared to other bearings. The market is segmented based on the outer bearing the market is segmented based on the outer diameter of the ball bearing, into 5mm,6-10mm,10-21mm,22mm,23-32mm,33-40mm,41-45mm and less than 45mm.

Regional Analysis:

Asia pacific region is observed the fastest growth in sales, owning to the increasing sales in the developing countries like China and India are expected to catapult over the foreseeable years. Additionally, the quick development of machinery and motor vehicle production with a strong market for industrial equipment and repairing of motor vehicle. Similarly, India is estimated to facilitate the growth through 2025.

As per the market research the bearing market can be segmented into Europe, Asia pacific, and North America. Due to huge growth in automotive sector in Asia pacific is expected to dominate the global market.

Global Bearing Market Size, Share Analysis By Region 2017

Bearing Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Bearing Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in bearing market are included as primary sources of the supply side.

After performing comprehensive engineering of bearing market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Key Players:

The key players of bearing market are NTN Corporation, Svenska Kullagerfabriken AB, Schaeffler Group, NSK Ltd., The Timken Company, JTEKT Corporation, Robert Bosch GmbH, The Danaher Corporation, GKN plc., Minebea Mitsumi, Inc. and others.

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