Global Bearing Market Drivers:
The wide application of bearings in the automotive industry is acting as one of the major driving forces for generating a colossal demand for bearings in the global market. The increasing application of bearings in various industrial sectors, such as electronics, railway, aerospace, mining and construction, manufacturing and transport and others, is fueling the expansion of the global bearing market. The various benefits of bearings, that include reduced lubricant consumption, reduction in energy consumption and enhanced equipment performance, are inducing the demand for bearings in multiple industries.The increasing
utilization of high capacity bearings in wind turbines is generating demand for bearings in the market, leading to the growth of the global bearing market. The unprecedented growth of the automotive industry and increase in the manufacturing of heavy machinery are some of the important factors fueling the expansion of the global bearing market.
The global bearing market has been segmented on the basis of product and application. On the basis of product, the bearing market is segmented into plain bearing, ball bearing, roller bearing and others. Among these, the ball bearing segment dominated the global bearing market in 2015. However, the roller bearing segment is anticipated to dominate the market during the forecast period as this product provides reduced friction and can sustain heavy radial load and shock or impact loading as compared to ball bearing.
On the basis of application, the global bearing market is segmented into automotive, electronics, aerospace, construction and others. Among these, the automotive segment is dominating the global bearing market and the aerospace segment is anticipated to project the fastest growth during the forecast period.
Detailed Regional Analysis:
On the basis of region, the global bearing market has been segmented into North America, Europe, Asia-Pacific and the rest of the world. Among these regions, Asia-Pacific is anticipated to dominate the global bearing market due to the rapid expansion of automotive, construction and other industries in this region. The robust growth of automotive, construction, mining and aerospace industries in North America and European region is fueling the expansion of the bearing market in this region. The rapid infrastructural and industrial development is influencing the expansion of the global bearing market in the rest of the world.
The leading players in the global bearing market are NTN Corporation (Japan), Svenska Kullagerfabriken AB (Sweden), Schaeffler Group (Germany), NSK Ltd. (Japan), The Timken Company (U.S.), JTEKT Corporation (Japan), Robert Bosch GmbH (Japan), The Danaher Corporation (U.S.), GKN plc.(U.K.) Minebea Mitsumi, Inc. (Japan) and others.
About Market Research Future:
Market Research Future® (Part of WantStats Research And Media Pvt. Ltd.) has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Our Research Analysts are eager to share their knowledge and assist you in refining market research parameters, choosing right market studies, and evaluating both the market scope and the research methodologies of varied segments.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
+1 646 845 9312
Email: [email protected]https://bisouv.com/