• Blog
  • Railway Bearings Market Report

    Railway Bearings Market Report

    Railway Bearings Market Report
    Report code - SRTI220 Published On : Jul,2021 No. of Pages: 200
    Get Free Sample |
    Play Audio
    Listen
    Railway Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opp See more...

    Impact of COVID-19 on Railway Bearings Market

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

    See more...

    Impact of COVID-19 on Railway Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy 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.

    Market Highlights

    Bearings are deployed for varied applications in the railway industry to enable rotational or linear movement while reducing friction and handling stress. They play a very crucial role as they enhance speed and efficiency while enabling the devices to roll. Bearings are usually designed to bear axial, radial, or a combination of both loads. When selecting a bearing for a particular application, factors like bearing friction, temperature, and lubrication along with the design and construction of the bearing, need greater scrutiny.

    The outbreak of the COVID-19 pandemic created havoc in the industry landscape. The overall performance of the rail industry has a visible impact on the demand for bearings used in various rail applications. The rapid spread of the pandemic led the market to register a double-digit decline in the year 2020.

    Amid the speculations of new strains, almost all key players have taken immediate measures to acclimate their operations to the minimum required capacity in order to reduce overall costs and risks. Numerous governmental authorities have proposed economic support for the railway industry. Furthermore, there have been several announcements regarding the investments for high-speed trains and metro rails in the major markets. These are among the few key factors signaling towards the industry’s take-off to a healthy recuperation, helping the market stakeholders to grow at a rate of more than 3.0% during 2021-2026 to reach a value of US$ 3.0 Billion in 2026.

    Segments' Analysis

    Railway Bearings Market Share by Train Type

    Based on the train type, the railway bearings market is segmented as locomotive, bogie & carriage, railcar, and others. The locomotive is expected to steer the market demand during the forecast period. Expansion of rail network infrastructure, rising urbanization and environmental sustainability, technological advances in design and structures of locomotives aimed at higher pulling capacities, and lower fuel consumption are some of the key factors driving the demand for bearings in the locomotive segment.

    Railway Bearings Market Share by Bearing Type

    Based on the bearing type, the market is segmented as ball bearing, roller bearing, plain bearing, and others. Ball bearings are further classified as angular contact ball bearing, deep groove ball bearing, and others. In a similar way, roller bearings are further classified as tapered roller, cylindrical roller, spherical roller, and others. Roller bearings are expected to remain the largest segment of the market during the forecast period, driven by the growing usage of tapered roller bearings, across the industry for a wide range of applications.

    Railway Bearings Market Share by Material Type

    Based on the material type, the market is segmented as metallic bearing, non-metallic bearing, and hybrid bearing. Metallic bearings are expected to remain the dominant segment of the market during the forecast period. High load handling and excellent wear-resistant capacity of stainless steel position it as a desirable material type for OEMs and bearing manufacturers. The application of hybrid bearings is limited to electric motors, where under unfavorable conditions, metallic bearings could be damaged by the passage of current.

    Regional Analysis

    In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for railway bearings during the forecast period. China and Japan are the biggest markets in the region owing to the presence of large-to-small scale railway operators, constructors, and railway-bearing suppliers. India is expected to register the highest growth during the forecast period, mainly attributable to the developing transport infrastructure, rapid urbanization, and mostly the population explosion.

    Key Players

    The supply chain of this market comprises several nodes including raw material suppliers, bearing manufacturers, OEMs, and MRO companies. The following are the key players in the Railway Bearings market-

    • AB SKF
    • Schaeffler Technologies AG & Co. KG
    • NSK Ltd.
    • The Timken Company
    • C&U Group Ltd.
    • NTN Corporation
    • JTEKT Corporation
    • Harbin Bearing Manufacturing Co., Ltd. (HRB Group)
    • Wafangdian Bearing Group Corporation (ZWZ)
    • LYC Bearing Corporation

    The industry is shifting towards developing application-specific bearings based on customer requirements. The development of bearings with lower maintenance requirements, higher efficiency, extended operating life, and wear-resistant coatings remain the indispensable focused area of the leading players regarding product developments. 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Railway Bearings market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive bearings, aerospace bearings, and wind energy bearings market report from the industry stakeholders, we have tried to further accentuate our research scope to the Railway Bearings market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a 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 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both 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, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The railway bearings market is segmented into the following categories. 

    Railway Bearings Market Size, Share & Forecast, by Train Type

    • Locomotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Bogie & Carriage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Railcar (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Railway Bearings Market Size, Share & Forecast, by Bearing Type

    • Ball Bearing
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Ball Bearing Type Analysis: Angular Contact, Deep Groove, and Others)
    • Roller Bearing
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Roller Bearing Type Analysis: Tapered Roller, Cylindrical Roller, Spherical Roller, and Others)
    • Plain Bearing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Railway Bearings Market Size, Share & Forecast, by Material Type

    • Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Non-Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hybrid Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

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

    • Drive Units (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Chassis (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Railcar Bodies (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Railway Bearings Market Size, Share & Forecast, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Railway Bearings Market Size, Share & Forecast, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    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 three players)
    • SWOT analysis of key players (up to three players)

    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 the 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 to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The railway bearings market is estimated to grow at a healthy CAGR of more than 3.0% by 2026.

    AB SKF, Schaeffler Technologies AG & Co. KG, NSK Ltd., The Timken Company, C&U Group Ltd., NTN Corporation, JTEKT Corporation, Harbin Bearing Manufacturing Co., Ltd. (HRB Group), Wafangdian Bearing Group Corporation (ZWZ), and LYC Bearing Corporation are the leading players in the Railway Bearings market.

    Asia-Pacific is estimated to remain dominant in the railway bearings market in the foreseen future.

    The locomotive is expected to steer the railway bearings market during the forecast period.

    Roller bearings are expected to remain the largest segment in the railway bearings market in the coming years.

    Metallic bearings are expected to remain the dominant segment in the railway bearings market in the coming five years.

    •