1. Market Research
  2. > Manufacturing
  3. > Industrial Equipment Market Trends

Bearings Market Analysis By Product (Ball Bearings, Roller Bearings), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace) And Segment Forecasts To 2020

  • May 2016
  • 200 pages
  • Grand View Research
Report ID: 3340583

Summary

Table of Contents

The global bearings market is expected to reach USD 117.27 billion by 2020. Growing need to address energy efficiency in several application areas is expected to drive the bearings market. Technological advancements along with investments in R&D activities are also expected to drive market demand over the forecast period. Development of seal technologies, light weight elements in high performance bearings and lubrication technologies offer several market growth opportunities. The aforementioned technologies exhibit high energy efficiency characteristics. Bearings help reduce energy consumption by reducing friction between several mechanical components in a wide range of industrial equipments and machinery. For example, the new E2 bearings developed by SKF are reported to help reduce friction significantly.

Increasing bearings demand across railway and aerospace applications offer significant avenues for market growth. Surging demand for bearings and other precision components used in aircraft engines is also expected to favorably impact market growth over the next few years. Innovative material technologies and high bearing performance play an important role in aero-engine bearing developments.

Further key findings from the study suggest:

Ball bearings are expected to emerge as a high growth segment over the next few years as it exhibits the capability to reduce friction owing to smaller surface contact. Furthermore, ball bearings can be used with thrust as well as radial loading owing to their ability to spin smoothly. Deep groove bearings are simple in design, non-separable and need low maintenance owing to which the segment is expected to witness considerable growth over the next few years.
Growing demand for auto components and automobiles is expected to fuel market demand over the forecast period. The railway & aerospace sector is also expected to witness rapid growth over the next six years. Rise in the number of commuters using public transportation is expected to be the key market driver. Further, availability of improved ways to assist local as well as worldwide transportation systems also provide opportunities for market growth.
Asia Pacific emerged as the dominant regional market in 2013; infrastructure development and rapid industrialization are expected to drive the regional market growth over the forecast period.
Key market players include NTN Corporation, Schaeffler Group, SKF, NSK Global, Timken and JTEKT. Manufacturers focus on providing specialized bearings often tailored to customer specification or application requirements. The process of product development relies heavily on the end-market.
For the purpose of this study, Grand View Research has segmented the global bearings market on the basis of product, application and region:

Bearings Product Outlook (Revenue, USD Million, 2012 – 2020)

Ball bearings
Roller bearings
Others
Bearings Application Outlook (Revenue, USD Million, 2012 – 2020)

Automotive
Agriculture
Electrical
Mining & Construction
Railway & Aerospace
Others
Bearings Regional Outlook (Revenue, USD Million, 2012 – 2020)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Please note: this report requires certain updates. We have all the information available but require 2 business days to complete the process and ensure it is as up-to-date as possible.


Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers
World Machine Tool Market to 2021 - Market Size, Development, and Forecasts

World Machine Tool Market to 2021 - Market Size, Development, and Forecasts

  • $ 23129
  • Industry report
  • May 2017
  • by Global Research & Data Services

The report package World Machine Tool Market to 2021 - Market Size, Development, and Forecasts offers the most up-to-date industry data on the actual market situation, and future outlook for machine tools ...

World Welding Machinery Market to 2021 - Market Size, Development, and Forecasts

World Welding Machinery Market to 2021 - Market Size, Development, and Forecasts

  • $ 23129
  • Industry report
  • May 2017
  • by Global Research & Data Services

The report package World Welding Machinery Market to 2021 - Market Size, Development, and Forecasts offers the most up-to-date industry data on the actual market situation, and future outlook for welding ...

Asia-Pacific Industrial Control Systems Security Market, Forecast to 2020

Asia-Pacific Industrial Control Systems Security Market, Forecast to 2020

  • $ 15000
  • Industry report
  • March 2017
  • by Frost & Sullivan

Growth Opportunities to Secure the Digital Transformation Journey of Critical Infrastructures The Asia-Pacific Industrial Control Systems (ICS) Security market with estimated revenue of $380.4 million ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.