Bearing Market Global Industry Insights, Consumption and Research to 2024
Deerfield Beach, FL -- (SBWIRE) -- 02/24/2017 -- Bearing Market: Overview
Bearing is an essential part of machinery which helps to reduce the friction of motion and increases the smoothness of machine. Bearings are widely use in automotive industry which helps to increase the speed of vehicle. Bearing reduces the friction between fixed and moving machine parts. However, it requires consistent maintenance to prevent early failure. The desperate need for energy-efficient vehicles and the expanding demand for bearings from the defense and aerospace industry increase the importance of bearing.
Bearing Market: Growth Factors
Bearing market is mainly driven by growing automotive market across the world. Strong growth of automotive sector in Asia Pacific region is expected to further drive the demand for bearing market through forecast period. The rising demand across various application sectors such as industrial, railways and aerospace sector is expected to witness a substantial growth during the forecast period. Development of seal technologies, light weight elements in high performance bearings and lubrication technologies gives some market growth opportunities.
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The report covers forecast and analysis for the bearing market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2014 to 2020 based on revenue (USD Billion). The report also offers detailed competitive landscape of the global bearing market. It includes company market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the bearing market based on product, application segment and region. On the basis of product, the global bearing market is segmented into ball bearing, plain bearing and roller bearing. The ball bearing product segment of bearing market is the fastest growing segment of bearing market through the forecast period due to its advantages like smaller surface contact and less friction.
Bearing Market: Regional Analysis
Automotive, agriculture, electrical, mining & construction, railway & aerospace and other applications are the key applications involved in the bearing market. Bearing applications in motor vehicles that is automotive held the highest revenue share in 2014. Major regional segments analyzed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This report also provides further bifurcation of region on the country level. Major countries analyzed in this reports are U.S., Germany, France, UK, China, Japan, India, and Brazil. Asia Pacific was the dominating region in the global market of bearing in 2014 due to booming automobile industry in this region. Asia Pacific is followed by Europe and North America.
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Bearing Market: Competitive Players
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Wafangdian Bearing Co. Ltd, Rexnord Corporation, NTN Corporation, C&U Group, The Timken Company Brammer PLC, Schaeffler Group, SKF Group, JTEKT Corporation, and The Timken Company NSK Ltd.
This report segments the global bearing market as follows:
Global Bearing Market: Product Segment Analysis
Global Bearing Market: Application Segment Analysis
Mining & Construction
Railway & Aerospace
Global Bearing Market: Regional Segment Analysis
Middle East & Africa
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