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    Bearings Market Report | Covid-19 Impact Analysis

    Bearings Market Report | Covid-19 Impact Analysis
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    Bearings Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-2026
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    Impact of COVID-19 on Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Bearings Market Insights

    Bearings Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Surge in vehicle sales and increasing adoption of electric and connected vehicles, introduction of advanced high capacity wheel bearings along with enhanced lubricating performance, and growing demand for specialized bearing solutions to fulfill industry-specific requirements, such as gas meters, medical imaging equipment, and flight support systems are some of the major factors driving the market growth during the forecast period.

    Bearings Market – Snapshot

    Growth

    7.2% for the next five years

    Major Product Type

    Ball Bearing

    Dominant Application Type

    Automotive

    Region with the highest demand

    Asia-Pacific

    Key Players

    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, NBI Bearings Europe S.L., NSK Global, and RBC Bearings Inc.

     

    Market Share Analysis

    Bearings-Market-Dominant-Segments

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    Bearings Market Share: By Product Type

    Based on the product type, the market is segmented as ball bearing and roller bearings. The ball bearing segment is projected to hold the major share of the market during the forecast period as it offers excellent features, such as friction reduction, high durability, load carrying capability, facilitating motion and position of moving machine parts, and cost-effective replacement. It has a simple design and possesses shield sealing which causes prevention of lubricants leakage and help in avoiding entry of foreign particles into the casing that minimizes the maintenance cost, fueling the segment’s growth during the forecast period. Also, the ball bearing segment is further divided into deep groove ball bearings and others, out of which, deep groove balls are estimated to witness significant growth rate in the market during the forecast period owing to their simple design, low friction, and low maintenance cost features.

    Bearings Market Share: By Application Type

    Based on the application type, the market is segmented as automotive, agriculture, electrical, mining & construction, railway & aerospace, automotive aftermarket, and others. Automotive is estimated to be the dominant application type of the market during the forecast period owing to growing vehicle sales and increasing demand for various automotive moving parts which need bearing to function. Bearing finds a wide range of application in the automotive industry, such as in gearboxes, transmissions, engines, steering, pumps, wheels, and electrical motors, boosting the product demand in the market over the forecast period.

    Bearings Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the dominant region in the market with China, Japan, India, and South Korea being the major countries providing lucrative growth opportunities with increasing investments in the automotive industry during the forecast period. Also, other factors, such as easy availability of raw materials and cost-effective manufacturing along with the presence of various industry participants in the region is further expected to fuel the product demand in the bearings market over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

    Bearings-Market-By-Region

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    Some of the key players in the bearings market are-

    • 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
    • NBI Bearings Europe S.L.
    • NSK Global
    • RBC Bearings Inc.

     

    Market Scope & Segmentation

    Bearing is a machine element which allows one part to rotate or move in contact with another part with minimal friction between them. It’s designed in way that it may, for example, cause free linear movement in the moving parts or free rotation around a fixed axis, or it may also cause prevention of motion by controlling the vectors of normal forces that bear on the moving parts.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Bearings Market Research Report - Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The bearings market is segmented into the following categories. 

    Bearings Market Size, Share, & Forecast, by Product Type:

    • Ball Bearing
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Product Type Analysis: Deep Groove Ball Bearings and Others)
    • Roller Bearings
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Product Type Analysis: Split Roller Bearings, Tapered Roller Bearings, and Others)

    Bearings Market Size, Share, & Forecast, by Application Type:

    • Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Agriculture (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electrical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mining & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Railway & Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Automotive Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Bearings Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Bearings-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The bearings market is expected to witness an impressive growth of 7.2% CAGR in the foreseeable future.

    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, NBI Bearings Europe S.L., NSK Global, and RBC Bearings Inc are among the key players in the bearings market.

    Asia-Pacific is expected to remain dominant in the bearings market during the next five years.

    The ball bearing segment is expected to hold the major share of the bearings market in the coming years.

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