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    Machine Tool Bearings Market Report

    Machine Tool Bearings Market Report
    Report code - SR1124 Published On : Sep,2021 No. of Pages: 135
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    Machine Tool Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growt See more...

    Impact of COVID-19 on Machine Tool Bearings Market

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

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    Impact of COVID-19 on Machine Tool 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

    Machine tools are highly customized goods that are tailored to the needs of customers. They are intricate machines that make parts of various shapes, sizes, and materials. Spindles are a vital component in the machine tool industry that are used to shape materials using high-speed rotation and pressure. With continuous advancements in modern machinery, there is a growing need for machining equipment that is faster, more precise, and more durable than ever before. Bearings are important components that guide and improve spindle movement. The use of high-quality bearings increases the efficiency and dependability of machine tool spindles, resulting in increased production and reduced machinery wear and tear.

    COVID-19 has taken a toll on almost every industry that machine tool players serve. The global crisis left the machine tool industry in disarray. The demand for machine tools declined due to lockdowns, followed by reduced investment in the industry. The Machine tool bearings market typically relies on the organic growth of the Machine Tool industry and usually takes the same path as the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were lower orders, supply chain disruptions, along uncertain future demand.

    Amid pandemic-related shutdowns and economic uncertainties, all major stakeholders have responded by adjusting volume planning to suit the new landscape and focusing on addressing near-term financial management concerns. Robust government support across most of the regions, accompanied by joint efforts of OEMs and other sectoral stakeholders towards mitigating both the short- and long-term challenges of COVID-19, is signaling towards healthy and quick recuperation, helping the market to grow at a CAGR of 5.2% during 2021-2026 to reach the figure of US$ 3.7 Billion in 2026.

    Market Segments' Analysis

    Based on the bearing type, the market is segmented as ball bearing and roller bearing. 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. Ball bearings are expected to remain the larger segment of the market during the forecast period, driven by widespread deployment of angular contact ball bearings in the spindle of machine tool equipment. They consist of one or more rows of rolling balls between concentric grooved rings and are useful for both radial and axial loads in one direction.

    Based on the application type, the market is segmented as metal cutting and metal forming. Metal cutting is projected to be the dominating segment of the market during the forecast period. Metal cutting application consists of machine tools that widely incorporate spindles in their design such as lathe, drilling, milling, boring, and grinding machines. Bearings are crucial parts that direct and boost spindle movements. The use of high-quality bearings improves the efficiency and reliability of machine tool spindles; thereby, increasing production and reducing wear and tear on machinery.

    In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for machine tool bearings during the forecast period. Increasing demand for metal cutting machines coupled with the well-developed supply chain and significant expansions and investments in the automotive, oil and gas, and railways industries in the region are among the major factors driving the growth of the region’s market for machine tool bearings. Europe is also expected to offer sizeable growth opportunities during the forecast period, driven by increased demand for automation and precision in manufacturing processes as well as the rising demand from electric vehicles. 

    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 Machine Tool 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.

    To maximize production, machine tools are being pushed to their limits. Simultaneously, machine operations are becoming more and more complicated. Higher speeds and faster development put a lot of strain on the machine's basic components, particularly the spindle units. The industry is shifting towards developing new application-oriented bearings for industry-specific demands. Bearing fabricators are focusing on addressing client needs such as lowering energy losses and increasing capacity through lubrication methods. 

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Machine Tool 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, construction bearings, and wind energy bearings market report from the industry stakeholders, we have tried to further accentuate our research scope to the machine tool 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 machine tool bearings market is segmented into the following categories. 

    Machine Tool Bearings Market, 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, and Others)

    Machine Tool 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)

    Machine Tool Bearings Market, by Application Type

    • Metal Cutting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Metal Forming (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Machine Tool Bearings Market, by End-use Type

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

    Machine Tool 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 machine tool bearings market is estimated to grow at a healthy CAGR of 5.2% 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 machine tool bearings market.

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

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