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Mounted Bearing Market by Product, Market Channel, Housing Block, Equipment, End-use Industry and Region - Global Forecast to 2027

Mounted Bearing Market by Product, Market Channel, Housing Block, Equipment, End-use Industry and Region - Global Forecast to 2027

  • March 2022
  • 264 pages
  • ID: 5976565
  • Format: PDF
  • MarketsandMarkets

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The global mounted bearing market size is projected to grow from USD 1.4 billion in 2022 to USD 1.8 billion by 2027, at a CAGR of 5.6%. The market is driven by the adoption of mounted bearings in numerous industries; their high efficiency and long life with less maintenance requirements; growing demand for specialized bearings for cost optimization; and increasing development and adoption of sensor-based bearing units and IoT.

The increasing adoption of mounted bearings in major industries such as food & beverages, mining & minerals, and pulp & paper drive the mounted bearing market.

According to the Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) of the United Nations, “Agricultural production is expected to grow by 15% over the coming decade, while global agricultural land use is expected to be broadly flat.The projected expansion in crop output can be attributed primarily to yield improvements and higher production intensity, driven by technological innovation.

The foreseen growth in livestock production will be based on an expansion of herds, greater feed uses, and more efficient use of feed. Because of the limitations in capture fisheries, nearly all projected growth in fish and seafood supply will be from aquaculture, pushing its share in total production to about 55% by 2028.

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Food & beverage segment is expected to be the largest market during the forecast period
The food & beverage industry and related services have shown sustainable growth in the last few years.This industry can be segmented into food processing and packaging, which use equipment such as mixer drives, conveyors, fans & blowers, and gears & transmission.

Most of this equipment is fitted with mounted bearings, especially in applications with both high loads and low loads.The demand for such equipment is expected to grow owing to the increasing automation, development of advanced equipment, and efforts to increase production efficiency and reduce errors in the food & beverage industry.

Customized or specific mounted bearings are widely used in the food & beverage industry.

OE market segment is expected to be the largest market in the forecast period
The OE market is critical for mounted bearing manufacturers, as a majority of high volume orders are received by OEMs.The demand for mounted bearings depends on the requirements of the clients of equipment manufacturers.

For instance, food & beverage machinery and equipment manufacturers are mostly medium sized companies and develop machinery according to the needs of their customers.Equipment manufacturers today are increasingly focusing on providing added features as a standard fitment in equipment along with after-sales service as a product differentiation strategy.

This is likely to boost the mounted bearing OE market in the coming years.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Tier I - 60%, Tier II - 15%, and OEMs & End-users - 25%
• By Designation: Directors - 22%, C Level Executives- 25%, and Others - 53%
• By Region: North America - 25%, Europe - 28%, Asia Oceania - 37%, and RoW-10%
Major players in the mounted bearing market are SKF (Sweden), Schaeffler ( Germany), Timken (US), NSK (Japan), and NTN (Japan).

Research Coverage:
The market study covers the mounted bearing market size and future growth potential across different segments such as product type, housing type, end-use industry type, equipment type, market channel, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.

The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the mounted bearing market and the top players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the mounted bearing market.
• Market Development: The report offers comprehensive information about the mounted bearing market. The report analyses the mounted bearing market across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the mounted bearing market.

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