Bearings Market To Witness Huge Growth By 2026
Category: #headlines  By Ronak Bora  Date: 2021-11-22
  • share
  • Twitter
  • Facebook
  • LinkedIn
Bearings Market To Witness Huge Growth By 2026

Global bearings market is slated to observe momentous business growth over the coming years owing to the rising sales of preowned and new vehicles across the globe. Additionally, the escalating vehicle sales, when coupled with the expanding market for electric as well as connected vehicles, would greatly fuel the demand for bearings within production of vehicles and related accessories.

Meanwhile, the bearings market is also slated to witness notable growth from the aviation sector. Bearings are extensively used in the aerospace industry as they find numerous applications across a diverse array of airplane components. Adding to the fact, the surging number of aircrafts across the globe would further amplify the demand for bearings through the analysis timeframe.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/111

Bearings have emerged as an integral mechanical component for the smooth and proper running of machines and automobiles. The industrial heavy machinery sector has emerged as one of the largest consumers of the product followed by the automobile industry.

Global bearings market is anticipated to reach annual revenues of over USD 70 billion by 2026.Europe has emerged as a profitable revenue terrain over the years due to the growing demand for the product from western European countries like France, Germany, and the U.K. These countries have a large market for light and passenger vehicles in the region.

Europe hosts a wide presence of various automobile companies like BMW, Mercedes-Benz, Audi, Ferrari, Volkswagen, Bentley, Volvo, and Porsche. The robust automobile sector in the region steers the demand for bearings to reduce friction and to ensure smoother rotation of various moving parts required for automobile manufacturing.

In order to promote the sale of EVs, governments across the globe are offering incentives to encourage both, the vehicle manufacturer as well as the buyer. As per reliable sources, in September 2020, the government of India announced its plan to provide USD 4.6 billion as incentives to the companies setting up an advanced battery manufacturing unit, as it aims to promote the use of EV and reduce its dependence on oil.

With respect to the application spectrum, bearings find extensive usage in the vast mining and construction industry. An economic improvement over the years has driven the demand for industrial, commercial, and residential infrastructure. Reforms in various mining policies over the years have further supported developments in the mining sector in developing nations.

Leading bearing suppliers are frequently entering into strategic alliances, acquisitions, and mergers in order to increase their customer base and achieve a competitive edge. For instance, in 2019, U.S.-based RBC bearings - a prominent international manufacturer of advanced precision bearings and components for aerospace, defense, and industrial sector announced the acquisition of Swiss Tool Systems AG for USD 33.9 million. The transaction aims at expanding RBC Bearing’s product portfolio as well as its geographical reach.

leading players operating in the bearings market include Brammer PLC, NTN Corporation, HKT Bearings Ltd., The Timken Company, and SKF among various others.

Request for a Customization of this research report @ https://www.decresearch.com/roc/111

Partial Chapter of the Table of Content

Chapter 4.    Bearings Market Product Insights

4.1.    Bearings market share by product, 2019 & 2026

4.2.    Ball bearing

4.2.1. Global ball bearings demand, by region, 2016 - 2026

4.2.1.1.    Global deep groove ball bearings (DGBB) demand, by region, 2016 – 2026

4.2.1.2.    Global other ball bearings demand, by region, 2016 - 2026

4.3.    Roller Bearings

4.3.1. Global roller bearings demand, by region, 2016 - 2026

4.3.1.1.    Global split roller bearings (SRB) demand by region, 2016 – 2026

4.3.1.2.    Global tapered roller bearings (TRB) demand by region, 2016 – 2026

4.3.1.3.    Global other roller bearings demand, by region, 2016 - 2026

Chapter 5.    Bearings Market Application Insights

5.1.    Bearings market share by application, 2019 & 2026

5.2.    Automotive

5.2.1. Global automotive bearings demand, by region, 2016 - 2026

5.3.    Agriculture

5.3.1. Global agriculture bearings demand, by region, 2016 - 2026

5.4.    Electrical

5.4.1. Global electrical bearings demand, by region, 2016 - 2026

5.5.    Mining & Construction

5.5.1. Global mining & construction bearings demand, by region, 2016 - 2026

5.6.    Railway & aerospace

5.6.1. Global railway & aerospace bearings demand, by region, 2016 - 2026

5.7.    Automotive Aftermarket

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/bearings-market-report

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

U.S. Oil and Gas Analytics Market 2025 By Trends, Outlook & Growth Forecast
U.S. Oil and Gas Analytics Market 2025 By Trends, Outlook & Growth Forecast
By Ronak Bora

U.S. oil & gas analytics market forecast will be driven by large scale deployment of data gathering tools including sensors, IIoT and IoT, facilitating requirement for smart analytical platforms. Increasing investments in upstream oil and gas exp...

Coiled Tubing Market Covid-19 Impact To 2026
Coiled Tubing Market Covid-19 Impact To 2026
By Ronak Bora

The coiled tubing market is slated to grow at an exponential rate over the coming years attributing to shifting focus towards the selection of novel drilling techniques to encourage well operation, which is subsequently expected to positively influen...

Cryogenic Tanks Market Future Scope, Revenue, Top Trends, Growth Opportunity & Regional Outlook To 2026
Cryogenic Tanks Market Future Scope, Revenue, Top Trends, Growth Opportunity & Regional Outlook To 2026
By Ronak Bora

Expanding LNG trade and its burgeoning demand owing to a paradigm shift toward gas based electricity generation has enabled the global cryogenic tanks market to carve a lucrative map for itself in the energy industry in the years to come. In fact, as...