DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Bearings Market by Type, By Bearing Outer Diameter and Others, By Application - Global Opportunity and Forecasts, 2014-2022" report to their offering.
The global bearings market size was estimated at $78,779 million in 2014. It is estimated to be valued at $140,792 million in 2022, registering a CAGR of 7.5% during the forecast period.
The global bearings market is driven by increase in the demand for bearings in the automotive industry, as the implementation of bearings helps reduce wear and tear caused by friction. The manufacturing industry exhibits the highest demand for bearings. Moreover, ongoing developments in the automotive sector is a major factor that fuels the adoption of bearings in the global market. The adoption of bearings is the highest among automotive industries in countries in the Asia-Pacific region such as India, China, Japan, and South Korea. This trend is expected to significantly supplement the bearings market growth due to rapid mechanization.
The other major drivers of the market are high demand for bearings in the defense & aerospace industry and growth in need to reduce energy expenses. Moreover, increase in demand for aerospace equipment in emerging economies such as India, China, Russia, and Japan is expected to boost the bearings market growth. However, the imminent growth of bearings is estimated to be detrimental for the market growth, as this is projected to lower the demand for after-sales facilities.
Replacement of bearings is the only possible after-sales operation for bearing suppliers. Therefore, the advent of technologically advanced bearings is expected to hamper the productivity for manufacturers in the near future.
- C&U Group
- Federal Moghul Holding Corporation
- JTEKT Corporation
- NKE Austria GmbH
- NSK Ltd.
- NTN Corporation
- Schaeffler AG
- SKF AB
- THK Company
- TIMKEN Company
Key Topics Covered:
CHAPTER 1. INTRODUCTION
CHAPTER 2. EXECUTIVE SUMMARY
CHAPTER 3. MARKET OVERVIEW
CHAPTER 4. BEARINGS MARKET, BY BEARING TYPE
CHAPTER 5. DEEP GROOVE BALL BEARINGS MARKET, BY BEARING OUTER DIAMETER
CHAPTER 6. BEARINGS MARKET, BY APPLICATION
CHAPTER 7. BEARINGS MARKET, BY GEOGRAPHY
CHAPTER 8. COMPANY PROFILES
For more information about this report visit http://www.researchandmarkets.com/research/thql46/bearings_market