Product Code: 111
Global Bearings Market is poised to witness substantial growth between 2023 and 2032. The increasing availability of e-vehicles for mobility, given the rising awareness around global warming and climate change has raised the demand for bearings. For instance, Europe in 2022, recorded a 17.8% increase in the number of EV registrations, reaching to 1,729,000 in 2021.
In addition, the key providers in the market are also seeking to gain a better foothold by expanding their existing portfolios and units, while adhering to the pressing needs of the time.
Citing an instance, in 2022, SKF announced an investment of USD 120 million in China, India, and Southeast Asia. A major chunk of the capital would be used in modernizing and expanding its factory in China to enhance its competitiveness for medium- and large-size bearings. Meanwhile, the remaining amount would be invested in improving the production capabilities, accelerating regionalization, and strengthening the supply chain network in Southeast Asia and India.
Overall, the global bearings market has been segmented in terms of product, application, and region.
In the context of the product, the market is likely to be defined by the other bearings segment. This segment is anticipated to grow at more than 7.5% CAGR through 2032, owing to product innovations and developments across various industries such as electrical applications and automotive industries.
On the basis of application, the agriculture segment is expected to grow significantly within the next ten years. The growth can be credited to the increasing usage of machinery and equipment in agriculture, such as tractors, backhoes, harvesters, tillers, planters, cultivators, and mowers. For instance, a report revealed that India has witnessed an absolute paradigmatic shift from human and draught power to mechanized farm power between 1951 and 2014. While 1951 mechanized farm power contributed only 3% in 1951, it rose to 88% during 2013-14.
In the regional context, the North America bearing market will grow at 8% CAGR between 2023-2032. The regional market growth will be mainly driven by the increasing mining and construction industries in countries such as the United States and Canada. According to reliable studies, between 2018 and 2023, the mining industry in the USA has grown by 3.9% on average. In addition, the aerospace industry is also rapidly increasing in this region, which will also fuel the demand for bearings, since bearings are used in engines, landing gears, and various aerostructure applications.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Scope & Market definitions
- 1.2 Methodology & forecast parameters
- 1.3 COVID-19 impact calculations on the industry forecast
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 Middle East & Africa
- 1.4 Regional trends
- 1.5 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
Chapter 2 Executive Summary
- 2.1 Bearings market 360 degree synopsis, 2018 - 2032
- 2.1.1 Economic impact of Covid-19 pandemic
- 2.1.2 Regional trends
- 2.1.3 Product trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Bearings Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry ecosystem analysis
- 3.2.1 Vendor matrix
- 3.2.2 Value addition at each stage
- 3.2.3 COVID-19 impact on value chain
- 3.2.4 Distribution channel analysis
- 3.3 Technology landscape
- 3.4 Industry impact forces
- 3.4.1 Growth drivers
- 3.4.1.1 Increasing vehicle sales for new and pre-owned vehicles
- 3.4.1.2 Increasing range for e-vehicles
- 3.4.2 Industry pitfalls & challenges
- 3.4.2.1 Energy efficient and environmental manufacturing norms
- 3.5 Regulatory landscape
- 3.5.1 U.S.
- 3.5.2 Europe
- 3.5.3 China
- 3.6 Growth potential analysis, 2018
- 3.7 Cost structure analysis
- 3.7.1 R&D cost
- 3.7.2 Raw material cost
- 3.7.3 Manufacturing & equipment cost
- 3.7.4 Distribution cost
- 3.7.5 Operating cost
- 3.7.6 Miscellaneous cost
- 3.8 Porter's Analysis
- 3.9 PESTLE Analysis
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share analysis, by region 2022
- 4.2.1 North America Bearings market share analysis 2022
- 4.2.2 Europe Bearings market share analysis 2022
- 4.2.3 Asia Pacific Bearings market share analysis 2022
- 4.2.4 Latin America Bearings market share analysis 2022
- 4.2.5 MEA Bearings market share analysis 2022
- 4.3 Vendor adoption matrix, 2022
- 4.4 Top player overview
- 4.5 Strategy Dashboard
Chapter 5 Bearings Market, By Products
- 5.1 Key products trends
- 5.2 Ball bearings
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.2.2 Market estimates and forecast by region, 2018 - 2032
- 5.3 Roller bearings
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.3.2 Market estimates and forecast by region, 2018 - 2032
Chapter 6 Bearings Market, By Application
- 6.1 Key composition trends
- 6.2 Automotive
- 6.2.1 Market estimates and forecast, 2018 - 2032
- 6.2.2 Market estimates and forecast by region, 2018 - 2032
- 6.3 Electrical
- 6.3.1 Market estimates and forecast, 2018 - 2032
- 6.3.2 Market estimates and forecast by region, 2018 - 2032
- 6.4 Mining & Construction
- 6.4.1 Market estimates and forecast, 2018 - 2032
- 6.4.2 Market estimates and forecast by region, 2018 - 2032
- 6.5 Railway & Aerospace
- 6.5.1 Market estimates and forecast, 2018 - 2032
- 6.5.2 Market estimates and forecast by region, 2018 - 2032
- 6.6 Others
- 6.6.1 Market estimates and forecast, 2018 - 2032
- 6.6.2 Market estimates and forecast by region, 2018 - 2032
Chapter 7 Bearings Market, By Region
- 7.1 Bearings market region insights
- 7.2 North America
- 7.2.1 Market estimates and forecast, 2018 - 2032
- 7.2.2 Market estimates and forecast by product, 2018 - 2032
- 7.2.3 Market estimates and forecast by application, 2018 - 2032
- 7.2.4 U.S.
- 7.2.4.1 Market estimates and forecast, 2018 - 2032
- 7.2.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.2.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.2.5 Canada
- 7.2.5.1 Market estimates and forecast, 2018 - 2032
- 7.2.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.2.5.3 Market estimates and forecast by application, 2018 - 2032
- 7.3 Europe
- 7.3.1 Market estimates and forecast, 2018 - 2032
- 7.3.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.4 Germany
- 7.3.4.1 Market estimates and forecast, 2018 - 2032
- 7.3.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.5 UK
- 7.3.5.1 Market estimates and forecast, 2018 - 2032
- 7.3.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.5.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.6 France
- 7.3.6.1 Market estimates and forecast, 2018 - 2032
- 7.3.6.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.6.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.7 Italy
- 7.3.7.1 Market estimates and forecast, 2018 - 2032
- 7.3.7.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.7.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.8 Russia
- 7.3.8.1 Market estimates and forecast, 2018 - 2032
- 7.3.8.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.8.3 Market estimates and forecast by application, 2018 - 2032
- 7.3.9 Spain
- 7.3.9.1 Market estimates and forecast, 2018 - 2032
- 7.3.9.2 Market estimates and forecast by product, 2018 - 2032
- 7.3.9.3 Market estimates and forecast by application, 2018 - 2032
- 7.4 Asia Pacific
- 7.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.4.4 China
- 7.4.4.1 Market estimates and forecast, 2018 - 2032
- 7.4.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.4.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.4.5 India
- 7.4.5.1 Market estimates and forecast, 2018 - 2032
- 7.4.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.4.5.3 Market estimates and forecast by application, 2018 - 2032
- 7.4.6 Japan
- 7.4.6.1 Market estimates and forecast, 2018 - 2032
- 7.4.6.2 Market estimates and forecast by product, 2018 - 2032
- 7.4.6.3 Market estimates and forecast by application, 2018 - 2032
- 7.4.7 Australia
- 7.4.7.1 Market estimates and forecast, 2018 - 2032
- 7.4.7.2 Market estimates and forecast by product, 2018 - 2032
- 7.4.7.3 Market estimates and forecast by application, 2018 - 2032
- 7.5 Latin America
- 7.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.5.3 Market estimates and forecast by application, 2018 - 2032
- 7.5.4 Brazil
- 7.5.4.1 Market estimates and forecast, 2018 - 2032
- 7.5.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.5.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.5.5 Mexico
- 7.5.5.1 Market estimates and forecast, 2018 - 2032
- 7.5.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.5.5.3 Market estimates and forecast by application, 2018 - 2032
- 7.6 Middle East & Africa
- 7.6.1 Market estimates and forecast, 2018 - 2032
- 7.6.2 Market estimates and forecast by product, 2018 - 2032
- 7.6.3 Market estimates and forecast by application, 2018 - 2032
- 7.6.4 Saudi Arabia
- 7.6.4.1 Market estimates and forecast, 2018 - 2032
- 7.6.4.2 Market estimates and forecast by product, 2018 - 2032
- 7.6.4.3 Market estimates and forecast by application, 2018 - 2032
- 7.6.5 South Africa
- 7.6.5.1 Market estimates and forecast, 2018 - 2032
- 7.6.5.2 Market estimates and forecast by product, 2018 - 2032
- 7.6.5.3 Market estimates and forecast by application, 2018 - 2032
Chapter 8 Company Profiles
- 8.1 Brammer PLC
- 8.1.1 Business overview
- 8.1.2 Financial data
- 8.1.3 Product landscape
- 8.1.4 Strategic outlook
- 8.1.5 SWOT analysis
- 8.2 C&U Group Company Limited
- 8.2.1 Business overview
- 8.2.2 Financial data
- 8.2.3 Product landscape
- 8.2.4 Strategic outlook
- 8.2.5 SWOT analysis
- 8.3 Daido Metal Company Limited
- 8.3.1 Business overview
- 8.3.2 Financial data
- 8.3.3 Product landscape
- 8.3.4 Strategic outlook
- 8.3.5 SWOT analysis
- 8.4 Harbin Bearing Manufacturing Co., Ltd
- 8.4.1 Business overview
- 8.4.2 Financial data
- 8.4.3 Product landscape
- 8.4.4 Strategic outlook
- 8.4.5 SWOT analysis
- 8.5 HKT Bearings Ltd.
- 8.5.1 Business overview
- 8.5.2 Financial data
- 8.5.3 Product landscape
- 8.5.4 Strategic outlook
- 8.5.5 SWOT analysis
- 8.6 JTEKT Corporation
- 8.6.1 Business overview
- 8.6.2 Financial data
- 8.6.3 Product landscape
- 8.6.4 Strategic outlook
- 8.6.5 SWOT analysis
- 8.7 Luoyang LYC Bearing Company Limited
- 8.7.1 Business overview
- 8.7.2 Financial data
- 8.7.3 Product landscape
- 8.7.4 Strategic outlook
- 8.7.5 SWOT analysis
- 8.8 Minebea Company Limited
- 8.8.1 Business overview
- 8.8.2 Financial data
- 8.8.3 Product landscape
- 8.8.4 Strategic outlook
- 8.8.5 SWOT analysis
- 8.9 NBI Bearings Europe
- 8.9.1 Business overview
- 8.9.2 Financial data
- 8.9.3 Product landscape
- 8.9.4 Strategic outlook
- 8.9.5 SWOT analysis
- 8.10 NSK Global
- 8.10.1 Business overview
- 8.10.2 Financial data
- 8.10.3 Product landscape
- 8.10.4 Strategic outlook
- 8.10.5 SWOT analysis
- 8.11 NTN Corporation
- 8.11.1 Business overview
- 8.11.2 Financial data
- 8.11.3 Product landscape
- 8.11.4 Strategic outlook
- 8.11.5 SWOT analysis
- 8.12 RBC Bearings Inc.
- 8.12.1 Business overview
- 8.12.2 Financial data
- 8.12.3 Product landscape
- 8.12.4 Strategic outlook
- 8.12.5 SWOT analysis
- 8.13 Rexnord Corporation
- 8.13.1 Business overview
- 8.13.2 Financial data
- 8.13.3 Product landscape
- 8.13.4 Strategic outlook
- 8.13.5 SWOT analysis
- 8.14 Schaeffler Group
- 8.14.1 Business overview
- 8.14.2 Financial data
- 8.14.3 Product landscape
- 8.14.4 Strategic outlook
- 8.14.5 SWOT analysis
- 8.15 SKF
- 8.15.1 Business overview
- 8.15.2 Financial data
- 8.15.3 Product landscape
- 8.15.4 Strategic outlook
- 8.15.5 SWOT analysis
- 8.16 The Timken Company
- 8.16.1 Business overview
- 8.16.2 Financial data
- 8.16.3 Product landscape
- 8.16.4 Strategic outlook
- 8.16.5 SWOT analysis