Material Handling Bearings Market

Market Insights

"The rise in the activities, such as manufacturing and logistics, paired with an increased focus on automation, enhancing productivity, and maximizing safety are signaling towards a healthy recuperation, helping the material handling bearings market size to grow at a CAGR of 5.9% during 2021-2026 to reach the figure of US$ 2.3 Billion in 2026."

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The material handling bearings market typically relies on the organic growth of the material handling industry and usually takes the same path as the latter. Production halt amid lockdown and reduced labor force across regions is expected to cause revenue losses to industry stakeholders in 2020 and 2021.

What is material handling bearings?

The smooth operation of the industrial sector requires materials to be moved around swiftly and effectively. For the movement of products, material handling equipment are widely used across industries. This equipment has several moving parts, that deploy bearings to enable rotational or linear movement while reducing friction and handling stress.

Bearings used in material handling equipment are prone to wear and potential failure leading to unplanned downtime in industries. When selecting a bearing for a particular material handling application, factors like bearing friction, temperature, and lubrication along with the design and construction of the bearing need consideration.

Covid-19 Impact on Material Handling Bearings Market

The outbreak of the pandemic caused the closure of many businesses. The global crisis emphasized the need for automation to increase efficiency in the material handling industry.

Most manufactures are getting back to pre-COVID production; however, some economies are still upholding a reduced rate of productions. Amid the speculations of a second and a third wave, almost all key players have taken immediate measures to adjust their operations to the minimum required capacity to cut down their costs.

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 material handling bearings market.

• AB SKF
• Schaeffler Technologies AG & Co. KG
• NSK Ltd.
• The Timken Company
• NTN Corporation
• JTEKT Corporation (Koyo Bearings)
• Nachi-Fujikoshi Corp.
• C&U Group Ltd.
• LYC Bearing Corporation
• Thordon Bearings Inc.

The industry is shifting towards developing new application-oriented bearings for industry-specific demands. Developing bearing solutions to meet the challenging demands of industry, such as wear resistance, medium- to high-load handling, ability to operate in dust and contaminated environments, and extended operating life along with long-term relations with customers are the key strategies adopted by the major players to gain a competitive edge in the market.

Segments Analysis

By Bearing Type:

“Roller bearings to remain the largest segment”

The market is segmented as ball bearing, roller bearing, plain bearing, and others.

• Roller bearings are expected to remain the largest segment of the market during the forecast period, driven by spherical roller bearings’ high load carrying capacity and an ability to accommodate misalignment, helping the market stakeholders to obtain low maintenance costs, and longer bearing service life.
• Ball bearings are further classified as angular contact ball bearing, deep groove ball bearing, and others.
• Roller bearings are further classified as Tapered roller, cylindrical roller, spherical roller, and others. 

By Application Type:

“The Conveyor generates maximum demands”

The market is segmented as conveyor, chain & hoist, forklift, and others. The conveyor is expected to remain the biggest demand generator of bearings during the forecast period.

The key factors that make Conveyors popularly used across industries are –

• Lessen footprint by maximizing space,
• Improve efficiency,
• Boost accuracy,
• Bring down production, and labor costs,
• Enhance workforce safety.

The forklift segment is likely to witness significant growth during the forecast period as they are an essential aspect of every material handling operation and aid in the movement of large or numerous products.

Which region is the largest market for Material handling Bearings?

"Europe is expected to be the largest market for material handling bearings during the forecast period."

• Germany is the largest market in the region driven by the dominance of the country in industries such as automobile, electronics, food & beverage, and manufacturing, creating a huge demand for material handling equipment.
• Asia-Pacific is expected to register the fastest growth during the forecast period, led by growing infrastructure activities and expanding manufacturing sector in emerging economies of the region. China is anticipated to be the fastest-growing market in the regional landscape.

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Material Handling Bearings market realities and future market possibilities for the forecast period of 2021 to 2026.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• 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 Material Handling Bearings market in order to provide the most crystal-clear picture 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:

• Overview, industry life cycle analysis, supply chain analysis.
• Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• 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.

Market Segmentation

This market report is segmented into the following categories. 

Bearing Type:

• Ball Bearing
• Roller Bearing
• Plain Bearing 
• Others

Material Type:

• Metallic Bearings
• Non-Metallic Bearings
• Hybrid Bearings

Application Type:

• Conveyor
• Chain & Hoist
• Forklift
• Others

End-use Type:

• OE
• Aftermarket

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

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