General Machinery Bearings Market Report

General Machinery Bearings Market Report

General Machinery Bearings Market Report
Report code - SR1557 Published On : Jan,2022 No. of Pages: 135
General Machinery Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, and See more...

Market Highlights

“The global general machinery bearings market is to grow at a CAGR of 4.2% during 2021-2026 to reach the figure of US$ 6.0 billion in 2026."

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The general machinery covers a variety of machines such as engines, pumps, compressors, fans, and electric motors, for a variety of markets, including agricultural, food & beverage, industrial, health, and consumer durables. The manufacturing of general machinery is a major development axis for traditional industries. Bearings used in general machinery endure demanding operating conditions. Bearing manufacturers not only have to provide bearings with high reliability and a long service life but also comply with environmental and safety legislation which is getting tougher by the day.

The COVID-19 outbreak had a significant impact on the manufacturing industry and the general machinery segment was no exception. General machinery manufacturers witnessed significant disruptions in their supply chains and production activities. During the crisis, international supply lines were severely strained, resulting in some material shortages. The general machinery bearings market typically relies on the organic growth of the industrial sector 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 a lack of new orders, supply chain disruptions due to lockdowns, and uncertain future demand.

Amid the speculations of a second and a third wave, almost all key players have taken immediate measures by reducing capital expenditure and temporarily halting production to acclimate their operations to the minimum required capacity in order to reduce all costs. The manufacturing industry is gradually getting back on track, paired with collective efforts of OEMs and other sectoral stakeholders towards mitigating the risks associated with COVID-19, and is signaling towards healthy and quick recuperation.

Segments Analysis

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Application Trends

"Electric motor & generator segment accounted for the largest market share."

Based on the application type, the market is segmented as industrial compressors; electric motors & generators; industrial fans, blowers & turbines; industrial pumps; and industrial transmission. Electric motor & generator is projected to be the leading segment of the market during the forecast period. Improvement in the energy efficiency of electric motors, which is highly influenced by the selection by bearing, along with increasing demand for electric motors and generators from the agricultural and industrial sectors is the major driver of the segment’s growth.

Bearing Trends

"Ball bearing segment accounted for the largest market share."

Based on the bearing type, the market is segmented as ball bearing, roller bearing, and others. Ball bearings are further classified as angular contact ball bearings, deep groove ball bearings, and others. Similarly, roller bearings are further classified as tapered roller bearings, cylindrical roller bearing, spherical roller bearing, and others. Ball bearing is expected to remain the most dominant bearing type in the market during the forecast period, owing to the high load-carrying capacity of both, angular contact and deep groove ball bearings, due to which they are popularly deployed in various general machinery.

Regional Insights

"Asia-Pacific accounted for the largest market share."

In terms of regions, Asia-Pacific is expected to be the largest bearings market for general machinery,  owing to the rising demand for general machinery in countries such as China, India, South Korea, and Japan. Increased focus on urbanization in China and rapid industrialization in both India and China on account of favorable government regulations and policies are further expected to boost market growth in the region. North America and Europe are also likely to create sizeable opportunities in the coming five years, driven by an expected rise in manufacturing, construction, and mining operations in these regions.

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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 general machinery bearings market.

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

Note: The above list does not necessarily include all the top players of the market.

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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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth analysis of the General Machinery Bearings Market

How lucrative is the future?

Market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional and country level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirement?

10% free customization

The general machinery bearings market is segmented into the following categories:

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, Spherical Roller, Cylindrical Roller, and Others)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

By Material Type

  • Metallic Bearings
  • Non-Metallic Bearings
  • Hybrid Bearings

By Application Type

  • Industrial Compressors
  • Electric Motors & Generators
  • Industrial Fans, Blowers & Turbines
  • Industrial Pumps
  • Industrial Transmission

By End-User Type

  • OE
  • Aftermarket

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)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s general machinery 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. 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 1,000 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.

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 General Machinery Bearings market is estimated to grow at a CAGR of 4.2% over the next five years to reach US$ 6.0 billion in 2026.

AB SKF, Schaeffler Technologies AG & Co. KG, NSK Ltd., The Timken Company, JTEKT Corporation, NTN Corporation, C&U Group Ltd., LYC Bearing Corporation, Nachi-Fujikoshi Corp, and Harbin Bearing Manufacturing Co., Ltd. (HRB), are the leading players in the general machinery bearings market.

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