Bearing market is comprised of roller bearing, ball bearing, plain bearing, spherical plain bearing, single row ball bearing, plastic ball bearing. Some of the types of ball bearing include cylinder roller bearing, hollow bearing, spherical roller bearings, tapered bearing, cross roller bearings, air bearings, and sensorised bearing. Industrial machinery and automobile sector contribute to the major share of this market. In automotive sector two wheeler and four wheelers captures the majority of the market share. The growth of bearings market is directly proportional to the global industrial production. Aerospace, off highway and Railway vehicles also contribute to the share of market. The major end-user industries such as automotive, construction equipment, agricultural, consumer and steel and paper continue to shape the fortunes of the bearings market.
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Increased in industrial machinery and automobile sector is driving the bearing market forward. This two segments account for a lion’s share contributing to the growth of global bearings market. Increased investment in aerospace industry is boosting the growth of this market. The increase in demand for railway equipment, electronics, and aircraft in the developing regions is demonstrating record sales growth for bearings and related products. Growing concerns over global warming is increasing the demand for wind turbines and thus driving the growth of the bearing market.
Asia dominates the global market contributing to the largest share. China is one of the major markets in this region followed by countries such as India, Thailand, Indonesia, Malaysia and the Republic of Korea that have been showing relatively quicker growth and are expected to be the key markets in upcoming years. Europe is one of the leading markets with Germany, Italy, UK, France, and Belgium accounting most of it. The region such as U.S. and Canada makes largest share of the market in North America. Brazil in South America is showing substantial growth and is expected to be one of the dominant economies driving the market forward.
Some of the key players in the market include Enpro Industries Inc., Federal Mogul Corporation, Igus, JTEKT Corporation, LM-Tarbell, Inc., Mineba Co. Ltd, Misumi USA, Inc., NKE Austria GmbH NSK ltd, NTN Corporation, RBC France SAS, Rexford Industries, LLC, Schaeffler Technologies AG & Co. KG, SKF Group, Timken Company and others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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