Projected to grow at a CAGR of around 7%, the bearings market is to witness a significant growth over the forecast period owing to increasing use of this mechanical component for smooth and proper functioning of machineries and vehicles.
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Bearings Market Share, Size, Analysis, Regional Outlook, Growth,
Trends and Forecasts to 2024 | Hexa Research
“Bearings Market Size Expected to Surpass $110 Million By 2024”
The Bearings Market is primarily driven by process industries and their need to conserve energy. It is
projected to generate more than USD 110 million in revenue by 2024. Technological advances and demand
from oil & gas, automotive, and construction industries will lead to market growth. The fluctuating prices of
steel pose a challenge for the market.
The worldwide market is segmented according to products, applications, and regions. Products encompass
ball bearings, roller bearings, and others. Tapered and split bearings are 2 types of roller bearings. ‘Others’
consist of thrust, angular contact, and self-aligning ball bearings.
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Ball bearings are predicted to lead the bearings market over the forecast period (2016 -2024) due to its abilit
to reduce friction between different machine components. Deep groove bearings are simple in design and
used in radial loads. They are estimated to garner huge growth in the next six years on account of being low
maintenance. Split roller bearings are used in shafts and other hard to reach locations.
Electronics, agriculture equipment & machinery, mining & construction equipment, railway & aerospace, and
automotive constitute as major market applications. Demand for automotive components will trigger market
demand over the next six years. Railway & aerospace sector will experience a similar growth rate on accoun
of increasing dependency by the normal public to use these transportation modes to commute.
Regions covered under the market are North America, Latin America, Asia Pacific, MEA (Middle East & Afri
and Europe. Asia Pacific reigned over the bearings market in 2015 owing to infrastructural projects and rapi
industrialization. The market will gain major demand from Western Europe, the U.S., and Japan; due to thes
countries adopting the latest technologies.
The market is highly competitive in nature. Timken, SKF, NTN Corporation, Schaeffler Group, and NSK Glob
are some of the top players operating in the bearings market. They are primarily targeting applications in
which engineering and manufacturing processes give them an edge over their competition.
Companies are also investing in technology based on recent trends like wind energy. Bearings used in wind
turbines will see a development creating new avenues for the market.
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Chapter 1 Methodology and Scope
1.1 Research Methodology
1.1.1
1.1.2
1.1.3
Initial data exploration
Statistical modeling and forecast
Industry insights and validation
1.2 List of Data Sources
Chapter 2 Executive Summary
2.1 Bearings market snapshot, 2016 - 2024
Chapter 3 Bearings Industry
Insights
3.1
3.2
3.3
3.4
Market segmentation
Market size and growth prospects
Bearings value chain analysis
Bearings market dynamics
3.4.1
3.4.2
Growth drivers
Industry pitfalls & challenges
3.5
3.6
3.7
3.8
Key growth opportunities
Porter’s analysis
Company market share analysis, 2016
PESTEL analysis
Chapter 4 Bearings Market Product Insights
4.1
4.2
Global bearings market share by product, 2016 & 2024
Ball Bearings
4.2.1 Global ball bearings demand, by region, 2016 - 2024
4.2.1.1
4.2.1.2
Global deep groove ball bearings (DGBB) demand, by region, 2016 - 2024
Global other ball bearings demand, by region, 2016 - 2024
4.3 Roller Bearings
4.3.1 Global roller bearings demand, by region, 2016 - 2024
4.3.1.1
4.3.1.2
Global split roller bearings (SRB) demand by region, 2016 - 2024
Global tapered roller bearings (TRB) demand by region, 2016 - 2024
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4.3.1.3Global other roller bearings demand, by region, 2016 - 2024
Chapter 5 Bearings Application
Insights
5.1
5.2
Bearings market share by application, 2016 & 2024
Automotive
5.2.1 Global automotive bearings demand, by region, 2016 - 2024
5.3 Agriculture
5.3.1 Global agriculture bearings demand, by region, 2016 - 2024
5.4 Electrical
5.4.1Global electrical bearings demand, by region, 2016 - 2024
Mining & Construction
Global mining & construction bearings demand, by region, 2016 - 2024
Railway & Aerospace
Global railway & aerospace bearings demand, by region, 2016 - 2024
Automotive Aftermarket
5.5
5.5.1
5.6
5.6.1
5.7
5.7.1Global automotive aftermarket bearings demand, by region, 2016 - 2024
Other
Global bearings demand in other applications, by region, 2016 - 2024
5.8
5.8.1
Chapter 6 Bearings Market Regional
Insights6.1
6.2
Global bearings market share by region, 2016 & 2022
North America
6.2.1 North America bearings market by product, 2016 - 2024
6.2.1.1
6.2.1.2
North America ball bearings market by product, 2016 - 2024
North America roller bearings market by product, 2016 - 2024
6.2.2
6.2.3
North America bearings market by application, 2016 - 2024
U.S.
6.2.3.1U.S. bearings market by product, 2016 - 2024
6.2.3.1.1
6.2.3.1.2
U.S. ball bearings market by product, 2016 - 2024
U.S. roller bearings market by product, 2016 - 2024
6.2.3.2U.S. bearings market by application, 2016 - 2024
Canada
Canada bearings market by product, 2016 - 2024
6.2.4
6.2.4.1
6.2.4.1.1
6.2.4.1.2
Canada ball bearings market by product, 2016 - 2024
Canada roller bearings market by product, 2016 - 2024
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6.2.4.2Canada bearings market by application, 2016 - 2024
6.3 Europe
6.3.1 Europe bearings market by product, 2016 - 2024
6.3.1.1
6.3.1.2
Europe ball bearings market by product, 2016 - 2024
Europe roller bearings market by product, 2016 - 2024
6.3.2
6.3.3
Europe bearings market by application, 2016 - 2024
France
6.3.3.1France bearings market by product, 2016 - 2024
6.3.3.1.1
6.3.3.1.2
France ball bearings market by product, 2016 - 2024
France roller bearings market by product, 2016 - 2024
6.3.3.2France bearings market by application, 2016 - 2024
6.3.4 Germany
6.3.4.1Germany bearings market by product, 2016 - 2024
6.3.4.1.1
6.3.4.1.2
Germany ball bearings market by product, 2016 - 2024
Germany roller bearings market by product, 2016 - 2024
6.3.4.2Germany bearings market by application, 2016 - 2024
UK
UK bearings market by product, 2016 - 2024
6.3.5
6.3.5.1
6.3.5.1.1
6.3.5.1.2
UK ball bearings market by product, 2016 - 2024
UK roller bearings market by product, 2016 - 2024
6.3.5.2UK bearings market by application, 2016 - 2024
Italy
Italy bearings market by product, 2016 - 2024
6.3.6
6.3.6.1
6.3.6.1.1
6.3.6.1.2
Italy ball bearings market by product, 2016 - 2024
Italy roller bearings market by product, 2016 - 2024
6.3.6.2Italy bearings market by application, 2016 - 2024
Eastern Europe
Eastern Europe bearings market by product, 2016 - 2024
6.3.7
6.3.7.1
6.3.7.1.1
6.3.7.1.2
Eastern Europe ball bearings market by product, 2016 - 2024
Eastern Europe roller bearings market by product, 2016 - 2024
6.3.7.2Eastern Europe bearings market by application, 2016 - 2024
Asia Pacific
Asia Pacific bearings market by product, 2016 - 2024
6.4
6.4.1
6.4.1.1
6.4.1.2
Asia Pacific ball bearings market by product, 2016 - 2024
Asia Pacific roller bearings market by product, 2016 - 2024
6.4.2 Asia Pacific bearings market by application, 2016 - 2024
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6.4.3 China
6.4.3.1China bearings market by product, 2016 - 2024
6.4.3.1.1
6.4.3.1.2
China ball bearings market by product, 2016 - 2024
China roller bearings market by product, 2016 - 2024
6.4.3.2China bearings market by application, 2016 - 2024
Japan
Japan bearings market by product, 2016 - 2024
6.4.4
6.4.4.1
6.4.4.1.1
6.4.4.1.2
Japan ball bearings market by product, 2016 - 2024
Japan roller bearings market by product, 2016 - 2024
6.4.4.2Japan bearings market by application, 2016 - 2024
India
India bearings market by product, 2016 - 2024
6.4.5
6.4.5.1
6.4.5.1.1
6.4.5.1.2
India ball bearings market by product, 2016 - 2024
India roller bearings market by product, 2016 - 2024
6.4.5.2India bearings market by application, 2016 - 2024
6.5 Latin America
6.5.1 Latin America bearings market by product, 2016 - 2024
6.5.1.1
6.5.1.2
Latin America ball bearings market by product, 2016 - 2024
Latin America roller bearings market by product, 2016 - 2024
6.5.2
6.5.3
Latin America bearings market by application, 2016 - 2024
Mexico
6.5.3.1Mexico bearings market by product, 2016 - 2024
6.5.3.1.1
6.5.3.1.2
Mexico ball bearings market by product, 2016 - 2024
Mexico roller bearings market by product, 2016 - 2024
6.5.3.2Mexico bearings market by application, 2016 - 2024
Brazil
Brazil bearings market by product, 2016 - 2024
6.5.4
6.5.4.1
6.5.4.1.1
6.5.4.1.2
Brazil ball bearings market by product, 2016 - 2024
Brazil roller bearings market by product, 2016 - 2024
6.5.4.2Brazil bearings market by application, 2016 - 2024
MEA
MEA bearings market by product, 2016 - 2024
6.6
6.6.1
6.6.1.1
6.6.1.2
MEA ball bearings market by product, 2016 - 2024
MEA roller bearings market by product, 2016 - 2024
6.6.2 MEA bearings market by application, 2016 - 2024
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Chapter 7 Competitive Insights
7.1
7.2
7.3
7.4
7.5
7.6
7.7
7.8
7.9
Brammer PLC
C&U Group Company Limited
Daido Metal Company Limited
Harbin Bearing Manufacturing Co., Ltd.
HKT Bearings Ltd.
JTEKT Corporation
Luoyang LYC Bearing Company Limited
Minebea Company Limited
NBI Bearings Europe
7.10
7.11
7.12
7.13
7.14
7.15
7.16
NSK Global
NTN Corporation
RBC Bearings Inc.
Rexnord Corporation
Schaeffler Group
SKF
The Timken Company
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