Global Anti-friction Bearing Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

Technavio has published a new report on the global anti-friction bearing market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--The global anti-friction bearing market is projected to grow to USD 48.48 billion by 2021, at a CAGR of more than 4% over the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global anti-friction bearing market for 2017-2021. Based on the product type, the market is divided into ball bearing and roller bearing segments.

 
Anti-friction bearings are used to eliminate friction between contacting surfaces. They restrict the motion of rotating components inside the stationary components and supports the load imposed on the shaft. The growing demand for commercial aircraft is expected to drive the global anti-friction bearings market.

Technavio’s research study segments the global anti-friction bearing market into the following regions:

  • APAC
  • EMEA
  • Americas

Anti-friction bearing market in APAC

APAC dominated the anti-friction bearing market in 2016, holding over 45% of the overall global shares. It is expected to retain its market dominance over the forecast period, driven by the rising demand from the automotive, railway, wind, textile, manufacturing, and industrial sectors,” says Anju Ajaykumar, a lead analyst at Technavio for tools and components research.

Japan, China, Australia, India, South Korea, Taiwan, and Singapore are the key revenue contributors to the market in the region. The booming construction sector in India and Indonesia is expected to propel the demand for construction equipment further, increasing the demand for anti-friction bearings.

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Anti-friction bearing market in EMEA

The recovering economy increased customer spending, and fixed investments have boosted the manufacturing, construction, and automotive sectors in EMEA. The growth and expansion in these sectors are expected to propel the demand for anti-friction bearings in the region. Many European nations have various railway projects in the pipeline, which is expected to boost the market growth greatly. The emergence of alternative power sources is will also create a significant demand for anti-friction bearings.

Anti-friction bearing market in the Americas

The anti-friction bearing market in the Americas is projected to be worth USD 12.41 billion by 2021. The US automotive industry will be the largest contributor to the anti-friction bearing market in the region,” says Anju.

Similarly, Mexico is also experiencing multiple automotive investments by manufacturers such as BMW and Audi, which will significantly impact the market segment. The aerospace industry is the other major end-user segment, where bearings are primarily used in the main shaft and for reduction gears (auxiliary drive system).

The top vendors in the global anti-friction bearing market highlighted in the report are:

  • JTEK Corporation
  • NSK
  • NTN
  • Schaeffler
  • SKF
  • Timken

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global anti-friction bearing market is projected to grow to USD 48.48 billion by 2021, at a CAGR of more than 4% over the forecast period, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com