Bearings Market to Estimated to Rise with Rapid Growth 2022

Bearings Market

Opportunity Analysis and Industry Forecast, 2016-2023

Global Opportunity Analysis and Industry Forecast, 2014-2022

Introduction • It is estimated to be valued at $140,792 million in 2022, registering a CAGR of 7.5% during the forecast period • Bearings, also referred to as anti-friction components, are modules that reduce resistance and improve the mobility of components • Increase in the use of bearings in heavy machinery, the rise in demand for application-specific bearings, the emergence of sensor bearing units, the surge in prices of steel, growth in the use of counterfeit products, and increase in production of motor vehicles in the emerging nations • Technical developments and innovations drive the growth of the bearings market, globally • Asia-Pacific dominated the global bearings market size in 2014. Moreover, the segment is projected to continue its dominance throughout the forecast period

Key Factors of the Market • Increase in use of bearings in heavy machinery • High demand for application specific bearings • Emergence of sensor bearing units • Increase in price of steel • Increasing use of counterfeit products • Surge in production of motor vehicles in emerging nation

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Key Benefits of the Market • The ball bearings segment dominated the bearing type market in 2014, and is expected to grow at a CAGR of 6.4% during the forecast period • Among outer diameter, the 23mm-32mm outer diameter is projected to create significant growth opportunities for prominent players operating in the global bearings market • Asia-Pacific dominated the global bearings market size in 2014. Moreover, the segment is projected to continue its dominance throughout the forecast period • The U.S. was leading in terms of spending on bearings in 2014. In addition, India, China, and other emerging markets are projected to provide significant opportunities for major players operating in the market

Market Segmentation

Key Players of the Market • • • • • • • • • •

C&U Group Federal Moghul Holding Corporation JTEKT Corporation NKE AUSTRIA GmbH NSK Ltd. NTN Corporation Schaeffler AG SKF AB THK Company TIMKEN Company

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