Bearings Market

The Bearings Market was valued at USD 108 billion in 2019 and is expected to expand at a rate of 6.5% over the analysis period. The increasing usage of bearing products in several end-use industries, electric vehicles, and rolling mills will fuel the market growth. Also, the ongoing technological innovation helps to improve the efficiency of the products in automotive sector.

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Bearings Market Dynamics

The growth in the bearings market is attributed to the growing concerns towards pollution and global warming, intensified investment, and growing number of projects to produce wind energy. Bearings have the ability to resist high rotating speeds. The usage of bearings in industries provide various exceptional advantages, such as reduce friction among components, possess the ability to perform accurately under varying speeds, less operational wear, and more carrying capacity, which will facilitate the lubrication method. The adoption of bearings across various end use industries such as railways and automotive and the application of heavy machineries in the industries demanding superior performance is a major factor contributing to the market growth. The ongoing technological innovations to develop bearings and growing emphasis of the bearing producers on advancements to cater the demand of several industries are the prime forces surging the market growth.

Type Segment Drivers

Ball Bearings segment is predicted to hold a larger share over the forecast period. The augmenting adoption of these bearings across different industry verticals because of its several advantages, such as high range of operating temperature, low replacement cost, better motor performance, enhanced sealing shield, and easy availability.

Application Segment Drivers

The Automotive segment is expected to expand at a higher rate over the coming years due to the increasing adoption of the bearings in the automotive sector as a result of high durability and high-speed rotation with accuracy. In addition, the growing production and sales of the vehicle because of the rapid industrialization and deployment of advanced technologies to improve the driving experience are some factors fuelling the market growth.

Market Segmentation
Bearings Market by Type
  • Plain Bearings
  • Roller Bearings
  • Ball Bearings
    • Deep Groove Ball Bearings
      • Open
      • Sealed
    • Others
  • Others
Bearings Market by Outer Diameter
  • Below 5mm
  • 6-10mm
  • 10-21mm
  • 22mm
  • 23-32mm
  • 33-40mm
  • 41-45mm
  • Above 45mm
Bearings Market by Application
  • Agriculture
  • Automotive
  • Mining & Construction
  • Electrical
  • Railway & Aerospace
  • Others
Bearings Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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