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    Construction Bearings Market Report

    Construction Bearings Market Report
    Report code - SR1117 Published On : Sep,2021 No. of Pages: 145
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    Construction Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growt See more...

    Impact of COVID-19 on Construction Bearings Market

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

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    Impact of COVID-19 on Construction 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

    Construction activities consist of the construction, maintenance, renovation, and demolition of residential and non-residential buildings, as well as work directed in civil engineering projects such as roads and utility systems. The market for construction machines and equipment rentals is an important aspect of the construction ecology. The construction bearings market is intimately linked to the end markets of construction and infrastructure. In the construction machinery, bearings are exposed to extreme operating conditions – excessive loads, contaminated environments, rough weather, etc.

    The COVID-19 outbreak threw most industrial markets into disarray. During the pandemic, the construction equipment industry, which is heavily reliant on GDP growth and economic activity, encountered the same challenges as other industries. The Construction bearings market typically relies on the organic growth of the Construction industry and usually takes the same path as the latter. In the context of the current crisis, falling revenues and increasing project delivery challenges have led to the sector’s contraction in most of the regional markets. Key challenges that arose in front of the industry stakeholders on account of the pandemic were total or partial shutdowns of construction sites, supply chain disruptions, along uncertain future demand.

    Amid virus-related shutdowns and economic downturns, all major stakeholders have responded by focusing on addressing near-term financial management concerns and wider resiliency issues. Collective efforts by governments, OEMs, and other sectoral stakeholders towards mitigating both, short- and long-term challenges of COVID-19 and reopening of construction sites along with the gradual resumption of construction activities in some regions ate signaling towards healthy and quick recuperation, helping the market to grow at a CAGR of 4.9% during 2021-2026 to reach the landmark figure of US$ 2.0 Billion in 2026.

    Market Segments' Analysis

    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 their high load-carrying capacity and ability to operate in case of shock and misalignment, helping the companies to obtain low-maintenance costs and longer bearing service life.

    Based on the application type, the market is segmented as wheel loader, excavator, dozer, off-highway truck, tunneling & boring, and others. Excavator is projected to be the dominating segment of the market during the forecast period. A tracked hydraulic excavator entails about fifty bearings for its basic operation such as travel and rotation. The wheel loader segment is expected to record significant growth during the forecast period.

    In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for construction bearings during the forecast period. In order to aid economic recovery, the majority of countries in the region are concentrating on infrastructure development. China's state railway operator plans to double the size of its high-speed railway network over the next fifteen years, influencing the product’s demand in the country.

    North America is expected to register significant growth during the forecast period, driven by a surge in government spending in the infrastructure sector. The USA is expected to record the fastest growth in the region, favored by numerous projects under construction in various sectors including residential, institutional, and industrial and infrastructure.

    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 Construction bearings market.

    • AB SKF
    • Schaeffler Technologies AG & Co. KG
    • NSK Ltd.
    • The Timken Company
    • NTN Corporation
    • JTEKT Corporation
    • Trelleborg AB
    • C&U Group Ltd.
    • LYC Bearing Corporation
    • Nachi-Fujikoshi Corp.

    The industry is shifting towards developing new application-oriented bearings for industry-specific demands. Developing bearing solutions to withstand the heavy loads, shock loads, high/low-speed rotation, and harsh working environments used in construction, along with long-term relations with customers are the key strategies adopted by the major players to gain a competitive edge in the market. 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Construction Bearings market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive bearings, railway bearings, food & beverage bearings, and wind energy bearings market report from the industry stakeholders, we have tried to further accentuate our research scope to the Construction 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 Construction bearings market is segmented into the following categories. 

    Construction Bearings Market, by Bearing Type

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

    Construction Bearings Market, 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)

    Construction Bearings Market, by Application Type

    • Wheel Loader (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Excavator (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Dozer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Off-Highway Truck (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Tunneling & Boring (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Construction Bearings Market, by End-use Type

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

    Construction Bearings Market, 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 [email protected]

    Frequently Asked Questions (FAQs)

    The Construction bearings market is estimated to grow at a healthy CAGR of 4.9% during 2021-2026.

    AB SKF, Schaeffler Technologies AG & Co. KG, NSK Ltd., The Timken Company, JTEKT Corporation, NTN Corporation, C&U Group Ltd., LYC Bearing Corporation, Trelleborg AB, and Nachi-Fujikoshi Corp., are the leading players in the Construction Bearings market.

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

    •