NEW DELHI, April 6, 2022 /PRNewswire/ — The study conducted by Astute Analytica foresees a frightful increase in gross of the Global Bearing Market from US $ 80,523.6 Mn in 2021 to US $ 1,20,054.1 Mn by 2027. The commercialize is registering a CAGR of 6.7 % during the bode time period 2022-2027 .
Market Snapshot
Bearings are highly engineered, precision-made components which enable a machinery to move at highly high speeds and carry noteworthy loads with ease and efficiency. It is a partially of a machine that allows one part to rotate in contact with another part with as less friction as possible. Bearings are used in every kind of equipment or machinery, ranging from car parts, farm equipment, and family appliances to defense and aerospace equipment .
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Market Dynamics
Drivers:
The growing impulse of the market is attributed to factors such as rising utilization of hold in motor, demand of automotive electrification, politics initiatives to drive the fabrication sector, and increasing demand for bearings in energy-efficient cars. Bearings are used in automobile to ensure smooth run of cars, electric vehicles ( EVs ), and early type of vehicles such as light burden commercial vehicles and big vehicles such as trucks. therefore, the demand for bearing increases with the arise in the production of automobiles. On an average, a passenger car has 35 bearings, which vary well depending on the model of the vehicle and the widely used technology. Further, a wax in use of bear in railways, electric vehicles, & rolling mills is accelerating the market demand. several features that are associated with the comfort, guard and fuel-efficiency of a vehicle trust on automotive bearings that cling to the nonindulgent criteria for operation, affair and design of the application. furthermore, the governments of unlike countries are pushing the increase of manufacture sector in their country. For case, indian government ‘s initiatives such as ‘Make in India ‘ and ‘Aatmanirbhar Bharat ‘, aimed at reviving the manufacture sector, in turn increases the demand for bearings. similarly, the chinese politics ‘s ‘Made in China ‘ is reviving the fabricate sector in China .
Restraints:
Counterfeit is growing quickly globally. Bearing is one of the popular forge items. Companies such as SKF and NSK are among the companies that are more prone to this menace. such fake bearings are dangerous due to the possible invention failures that may occur, leading to machine damage and injuries. When counterfeiters sell a product that looks the same as the original but at a lower price, the authentic sword will lose sales. therefore, the counterfeit products pose a great challenge to the bear marketplace .
Opportunities:
The rising necessitate of bearings in weave turbines and rising concern about green vehicles is estimated to provide a lucrative opportunity for the grocery store growth .
Impact of COVID-19
The global car industry weakened in the first draw of 2020. The pandemic has sternly impacted automotive product and sales. far, the issue chain disruptions besides negatively affected the bearings grocery store. however, many countries across the globe have expanded significantly from one-third quarter of 2020. Considering this factor, a hearty growth is expected in the Global Bearing Market post the pandemic .
Regional Analysis of the Global Bearing Market:

  • The US is the highest shareholder region in North America bearing market in 2021 and is further estimated to continue its dominance over the forecast period. Based on end-use industry, the industrial segment has the highest share in the North America bearing market. Under industrial segment, the machine tools hold the highest share in the market in 2021.
  • Europe is the second highest shareholder region in the Global Bearing Market in 2021. The growing sales and production of electric and hybrid vehicles, along with the growth and development of automotive and automobile industries is propelling market growth in Europe. Germany is the highest shareholder country in the bearings market of Europe. Based on product type, the ball bearings have the highest market share in 2021.
  • Asia Pacific dominated the Global Bearings Market in 2021 and is also registering the highest CAGR over the forecast period. China is one of the major markets in APAC, and the sale in the country is expected to catapult over the foreseeable years stimulated by the rapid expansion of machinery and motor vehicle production. In terms of material, the specialty alloy segment has the highest share in the APAC bearing market in 2021
  • Brazil is the highest shareholder country in South America bearing market in 2021, whereas, Argentina is registering the highest CAGR over the projection period. Based on end-use industry, the industrial segment has the highest share in the bearings market of South America in 2021. Under industrial segment, machine tools occupy the highest market share in 2021 followed by aerospace industry.
  • South Africa dominates the Middle East & Africa bearing market in 2021 and is further estimated to continue its dominance over the forecast period. In terms of product type, roller bearings have the highest share in the MEA bearing market. Further, based on material, the specialty alloy has the highest market share in 2021, whereas the ceramics segment is estimated to have the highest annual growth rate over the projection period.

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Report Attribute Details
Market Size Value in 2021 US $ 80,523.6 Million
Market Outlook for 2027 US $ 1,20,054.1 Million
Expected CAGR Growth 6.7 % from 2022 – 2027
Base Year 2021
Forecast Period 2022-2027
Top Market Players SKF, Schaeffle AG, The Timken Company, NSK Ltd., IKO International, ISB Industries, NTN Corporation, and JTEKT Corporation among others.

Segments Covered By Product, By Size, By Material, By Industry, By Industrial, By region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, South America
Customization Options Get your custom-make reputation as per your predilection. Ask for customization

Competitive Insight
The key players in the Global Bearing Market are SKF, Schaeffle AG, The Timken Company, NSK Ltd., IKO International, ISB Industries, NTN Corporation, and JTEKT Corporation among others. Through extensive inquiry, it is found that bad players have adopted versatile competitive strategies such as fusion & learning in order to have a handle in the brace japanese market. furthermore, leading companies are expanding their geographic boundaries by acquiring little brands and domestic companies .
Segmentation Overview
The following are the different segments of the Global Bearing market :

  • By Product segment of the Global Bearing Market is sub-segmented into:
    • Ball Bearings
      • Deep Groove Ball Bearings
      • Self-Aligning Ball Bearings
      • Angular-Contact Ball Bearings
      • Thrust Ball Bearings
    • Roller Bearings
      • Tapered Roller Bearings
      • Spherical Roller Bearings
      • Cylindrical Roller Bearings
      • Needle Roller Bearings
    • Mounted Bearings
    • Linear Bearings
    • Slide Bearings
    • Jewel Bearings
    • Frictionless Bearings
    • Others
  • By Size segment of the Global Bearing Market is sub-segmented into:
    • 30 to 40 mm
    • 41 to 50 mm
    • 51 to 60 mm
    • 61 to 70 mm
    • 70 mm & above
  • By Material segment of the Global Bearing Market is sub-segmented into:
    • Specialty Steel Alloys
    • Plastic
    • Ceramics
  • By Industry segment of the Global Bearing Market is sub-segmented into:
    • Automotive
      • OEM
      • Aftermarket
    • Industrial
      • Agriculture
      • Railway
      • Mining
      • Aerospace
      • Machine Tools
      • Exports
      • Others
  • By Industrial segment of the Global Bearing Market is sub-segmented into:
    • OEM’s
    • Aftermarket
  • By Region segment of the Global Bearing Market is sub-segmented into:
    • North America
      • The U.S.
      • Canada
      •  Mexico
    • Europe
      • The U.K.
      • Germany
      • France
      • Spain
      • russia
      • Rest of Europe
    • Asia Pacific
      •  China
      • India
      • Japan
      • Australia & New Zealand
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
    • South America
      • Argentina
      • Brazil
      • Rest of South America
    • Middle East & Africa
      • UAE
      • Saudi Arabia
      • South Africa
      • Israel
      • Rest of Middle East & Africa

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