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.
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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.
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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
Major points From table Of Contents:
Chapter One: Methodology and Scope
Chapter Two: Executive Summary
Chapter Three: Bearings Industry Outlook
Chapter Four: Bearings Product Outlook
Chapter Five: Bearings Application Outlook
Chapter Six: Automotive Relays Regional Outlook
Chapter Seven: Competitive Landscape
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