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Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Report Description

Bearings are machine elements that are primarily used for reducing friction between moving parts. For instance, in case of a roller bearing, the rolling elements in the bearings withstand the load, allowing the device to spin smoothly. With technological advancements in several industry verticals such as automotive, construction, and oil and gas, the applications and functionalities of bearings are evolving continuously. High end technologies such as smart bearings facilitate manufacturers to monitor bearing operations constantly.
 
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
 
This market research study analyzes the bearing market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
 
By geography, the market has been segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the product type, which include unmounted ball bearings, plain bearings, roller bearings and others. It also segments the market on the basis of components as balls, rollers, cages, rings and others. Based on end use, the market is segmented into motor vehicles, aerospace equipment, power transmission equipment, construction machinery, farm and gardening machinery, oilfield machinery and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
 
For better understanding of the bearing market, we have given a detailed analysis of the supply chain. A detailed Porter’s five forces analysis has been given for a better understanding of the intensity of the competition present in the market. Furthermore, the study comprises a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
 
The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and the recent developments in the field of bearing industry. Major market participants profiled in this report include SKF Group, Schaeffler Group, The Timken Company, NTN Corporation, JTEKT Corporation, and NSK Ltd. among others.
 
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
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
 
Bearing Market: By geography
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Preview Analysis

Global bearing market was valued at USD 75.91 billion in 2014, growing at a CAGR of 7.7% from 2014 to 2020. Bearings are machine elements that are primarily used for reducing friction between moving parts. For instance, in case of a roller bearing, the rolling elements in the bearings withstand the load, allowing the device to spin smoothly. With technological advancements in several industry verticals such as automotive, construction, and oil and gas, the applications and functionalities of bearings are evolving continuously. High end technologies such as smart bearings facilitate manufacturers to monitor bearing operations constantly.
 
The global bearing market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). The bearing market is primarily driven by increasing demand from automotive industry. The increase in the global production of motor vehicles has substantially raised the demand for automotive bearings. In addition, rising demand from steel industry, railways and defense and aerospace industry has also contributed to the growth of bearing market globally. The need for energy efficiency in process industries has also augmented the worldwide demand for bearings significantly.
 
Geographically, Asia Pacific led the bearing market in 2014 and the region is expected to continue its dominance in 2020. The region’s dominance is due 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 the growth of bearing market. Europe and North America followed Asia Pacific in the global bearing market to collectively account for more than 40% of the global market revenue share.
 
The bearing market is segmented on the basis of product type into - unmounted ball bearings, plain bearings, roller bearings and others. Among all, unmounted ball bearings were holding the highest market revenue share in 2014 and are expected to remain so during the forecast period. Demand for unmounted ball bearings is attributed to their wide range of applications in motor engines, automotive wheels, railway coaches, hard drives and consumer durables. Unmounted ball bearings segment is closely followed by roller bearings segment.
 
Based on components, the global bearing market is divided into balls, rollers, cages, rings and others. The application segment of the bearings decides the number and size of these components. In 2013, balls as components held the highest share in the bearing market. Rollers which includes rolling elements such as tapered rollers, cylindrical rollers and needle rollers were the second largest components used in 2013.
 
The bearing market is further segmented by end use into motor vehicles, aerospace equipment, power transmission equipment, construction machinery, farm and gardening machinery, oilfield machinery and others. Bearing applications in motor vehicles held the highest revenue share in 2013. With the increase in production of motor vehicles across the globe, the demand for automotive bearings has grown substantially. Aerospace equipment is analyzed to be the fastest growing application segment for bearings and is expected to attain a significant growth in the recent future.

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