DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/kxf5w4/bearing_market) has announced the addition of the "Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Global bearing market was valued at USD 75.91 billion in 2014, growing at a CAGR of 7.7% from 2014 to 2020
The global bearing market is expected to witness a substantial growth during the forecast period. This is due to its increasing demand across various application sectors such as automotive, industrial, railways, and aerospace sector. The increase in automobile production worldwide is stimulating the growth in demand for bearings and associated components.
In addition, the need for energy efficiency in process industries has also augmented the worldwide demand for bearings significantly. Automotive is the highest revenue generating application segment in this market. Aerospace equipment segment is analyzed to be the fastest growing application segment in the bearing market.
Adoption of high end technologies such as smart bearings is also creating new opportunities for the bearing manufacturers globally. However, shrinking after sales market is acting as a restraining factor for the growth of bearing market, especially in automotive application segment.
The rapid development of city infrastructures in the Middle East and Asia Pacific region is also influencing the growth of overall bearing market. Asia Pacific is analyzed to dominate the global bearing market throughout the forecast period. The region's dominance is attributed to increasing production of motor vehicles in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to growth of bearing market.
Major market participants profiled in this report include SKF Group, Schaeffler Group, The Timken Company, NTN Corporation, JTEKT Corporation, and NSK Ltd. among others.
Scope of the Report
Bearing Market: By product type
- Unmounted ball bearings
- Plain Bearings
- Roller Bearings
- Others
Bearing Market: By components
- Balls
- Rollers
- Cages
- Rings
- Others
Bearing Market: By end use
- Motor vehicles
- Aerospace equipment
- Power transmission equipment
- Construction machinery
- Farm and garden machinery
- Oilfield machinery
- Other machinery
Companies Mentioned
- Asahi Seiko Co., Ltd.
- Brammer PLC
- C&U Group
- Daido Metal Company Ltd.
- Danaher Corp.
- GGB Bearing Technology
- Harbin Bearing Group
- JTEKT Corporation
- NSK Ltd.
- NTN Corporation
- RBC Bearings
- Rexnord Corporation
- SKF Group
- Schaeffler Group
- The Timken Company
- ThyssenKrupp AG
- Wafangdian Bearing Co. Ltd
For more information visit http://www.researchandmarkets.com/research/kxf5w4/bearing_market
