19 February 2019:
Bearing
Market was million US$ in 2018 and is expected to million US$ by
the end of 2024, growing at a CAGR of between 2019 and 2024.This report studies
the Bearing market size (value and volume) by players, regions, product types
and end industries, history data 2014-2018 and forecast data 2019-2024; This
report also studies the global Bearing market competition landscape, market
drivers and trends, opportunities and challenges, risks and entry barriers,
sales channels, distributors and Porter's Five Forces Analysis.
Global Bearing Market is anticipated to grow at a
significant CAGR in the upcoming period as the scope, product types, and its
applications are increasing across the globe. Bearings, also known as
“anti-friction components”, are modules that decrease resistance and drive the
mobility of components.
The factors that propel the growth of the market include
increasing demand, rapid urbanization & industrialization, product
development & technological innovations, increase in the use of bearings in
heavy machinery, the increase in demand for application-specific bearings, the
emergence of sensor bearing units, surge in production of motor vehicles in the
developing countries. On the other hand, there are factors that may hamper the
growth of the market including as fluctuating prices of raw materials.
Read the full report:
https://www.millioninsights.com/industry-reports/bearing-market-trends/request-sample
The market may be explored by product type, outer diameter,
application, end user, distribution channel, and geography. market may be
explored by product type as roller bearings, unmounted ball bearings, plain
bearings and others. The “ball bearings” segment led the market in 2015 and
will continue to lead in the forecast period. Based on outer diameter, the
market may be classified as 41mm-45mm, 33mm-40mm, 23mm-32mm, 22mm, 10mm-21mm,
6mm-10mm, Below 5mm and Others (>45mm).
The key applications that could be explored in the bearing
market include electrical, automotive, agriculture, railway & aerospace,
mining & construction and others. The “Automotive Segment” segment led the
market in 2016 and will continue to lead in the forecast period. The key
factors that may attributed to the growth of market includes increasing usage
of vehicle and technological advancement.
North America is expected to account a significant share in
the market owing to increasing demand from end user industries. In this region,
US and Canada are key markets for bearing market. Some of the key players that
fuel the growth of the bearing market comprise NSK Ltd., GGB Bearing
Technology, Daido Metal Company Ltd., Asahi Seiko Co., Ltd., Harbin Bearing
Group, ThyssenKrupp AG, The Timken Company, Rexnord Corporation, Danaher Corp.,
NTN Corporation, Brammer PLC, Schaeffler Group, SKF Group, C&U Group, RBC
Bearings, Wafangdian Bearing Co. Ltd. and JTEKT Corporation. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
For detailed
Information of Market Dynamics, Size, Trends, Visit our report at: https://www.millioninsights.com/industry-reports/bearing-market-trends
Bearing Market by
Geographical Regions:-
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
The latest market data for this research include:
•
Overall bearing market size, 2011-2022
•
Bearing market size by product segment,
2011-2022
•
Growth rates of the overall bearing market and
different product segments, 2011-2022
•
Shares of different product segments of the
overall bearing market, 2011, 2017 and 2022
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