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Pulished Date February, 2020
ID: 9240
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Global Bearings for Mechanical and Electrical Products Market Segmentation Based on products type (Ball Bearings, Plain Bearings, Roller Bearings, Fluid Bearings, and Others), Application (Oil & Gas Industry, Aerospace Industry, Mining Industry, Power Generation, Food Processing, Agriculture, Commercial Applications, Automotive Industry, and Others), and Region - Size, Trends, Forecast (2020 – 2025)

Pulished: February, 2020
ID: 9240
Pages: 180

Bearings for Mechanical and Electrical Products Market Analysis (2020 – 2025)

The global bearings in the mechanical and electrical products' market is expected to grow in a significant way during the forecast period.

Bearings are mechanical components that are exceptionally engineered to which helps the machine to isolate in desired directions with low friction and extreme speed. A machine can carry heavy loads with ease and high efficiency with the help of these bearings. These bearings have a plethora of applications in both mechanical and electrical equipment such as automobiles, refrigerators, ceiling fans, and many other products. Among various types of bearings, ball bearings are the most common. These bearings are engineered to minimize rotational friction and carry radial & axial loads.

The growth of this market is attributed to the usage of these bearings in various machinery, starting from automobile parts, farm tools, and household appliances to defense and aerospace. Also, the rising demand for bearings with lower maintenance requirements, higher efficiency, and longer service life are the drivers of the growth of the market. Additionally, the need for specialized bearing solutions that can meet various industry-specific requirements and challenges in production, such as, rising application of high capacity products in wind turbines is to catapult the demand, which is projected to fuel the market growth. The wind turbines require these bearings to enhance their performance and reliability, reduce lubricant consumption, and increase energy production.

The manufacturers of these bearings are continually working on improvising the product designs to maximize performance and energy efficiency. For that, they use unique materials for raceways, rolling elements, and cages as well as redesigned raceway profiles. Additionally, the technological developments in seal and lubrication technologies and the utilization of lightweight materials in high-performance products, are creating enormous opportunities for the manufacturers. Also, integrating the electro-mechanical features straight into these bearings will help in the improvement of performance and size & cost reductions.

Recent Developments

• Emerson Electric Company (EMR), an American multinational corporation headquartered in Ferguson, Missouri, United States, has received a hold from Oppenheimer. It was said that corporate insider sentiment is neutral on the stock by recent corporate insider activity of 47 insiders.

• Timken Company, an American manufacturer of bearings, and related components and assemblies has acquired Fulton Companies, a global group of companies known for industrial and commercial heating systems. Sokolovich said that the addition of the Diamond Chain operation to the Fulton plant would add about 130 jobs.

Drivers and Restraints of Bearings for Mechanical and Electrical Products Market

The rising demand for bearings with high-performance has resulted in manufacturers amalgamate advanced sensor units in their products. These sensor units assist in digital monitoring of axial movement, acceleration, deceleration, rotation speed, and load-carrying capacity of the product which is one of the major drivers for the growth of the global bearings in the mechanical and electrical product's market.

Moreover, the advancements Industrial Internet of Things (IIoT), has encouraged the espousal and the constant monitoring of connected equipment and machinery which influenced the bearings market positively.

And the demand for the specialized bearing solutions that can reach various industry-specific requirements and challenges in production like, rising application of high capacity products in wind turbines are fuelling the global bearings in mechanical and electrical products market growth.

As it is easy to estimate the flaws in smart bearings before they occur, manufacturers add considerable value by declining the expenses of unexpected downtime, which is projected to surge the adoption of these products in the future.

Market Segmentation of Bearings for Mechanical and Electrical Products Market

Based on products type

  • Ball Bearings
    • Deep Groove Bearings
    • Others
  • Plain Bearings
  • Roller Bearings
    • Split Bearings
    • Tapered Bearings
    • Others
  • Fluid Bearings
  • Others

 Based on Application

  • Oil & Gas Industry
  • Aerospace Industry
  • Mining Industry
  • Power Generation
  • Food Processing
  • Agriculture
  • Commercial Applications
  • Automotive Industry
  • Others

In the application segmentation of the global market, the automotive segment has acquired the largest market share, owing to the increase in vehicle production around the world. Moreover, the demand for vehicles with technological advancements is escalating, thus, leading to an increase in vehicle manufacturing that needs instrumented products.

Bearings for Mechanical and Electrical Products Market Region-wise analysis

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

In the regional segmentation of the global business, Asia Pacific bearings in mechanical and electrical products market is anticipated to grow very fastly in terms of sales, accounting the value of over USD 60 billion by 2025. Developing countries like China and India are one of the major markets, and the sales in these countries are foreseen to catapult over the foreseeable years stimulated by the rapid expansion of machinery and motor vehicle production coupled with a strong aftermarket for industrial equipment and motor vehicle repair. Additionally, the sturdy construction and mining equipment market in India is estimated to facilitate growth through 2025.

The European bearings in mechanical and electrical products market is estimated to witness positive growth during the forecast period. The growth of this regional business is attributed to sustainable economic growth and increased investment fro the developments of these bearings. 

In the North America bearings in mechanical and electrical products market, the demand is driven by the significant productions of motor vehicles and a healthy fixed investment nature, increased sales of high-value bearings, such as large-diameter, custom-built bearings used in heavy machinery and wind turbines. The rapid development of city infrastructures is positively influencing the overall growth in the Middle East and Africa bearings in the mechanical and electrical product's market.

Key Players of Bearings for Mechanical and Electrical Products Market

  • Altra Industrial Motion
  • Antifriction Bearings Corporation (ABC) Bearings Limited
  • Asea Brown Boveri (ABB)
  • Emerson Electric Company
  • Fujian Longxi Bearing (Group) Corp., Ltd
  • Harbin Bearings
  • Kaydon Corporation
  • Luoyang LYC Bearing Co., Ltd
  • Nippon Seiko K.K.(NSK)
  • RBC Bearings
  • Rexnord corporation
  • Schaeffler Group
  • Svenska Kullagerfabriken Aktiebolag (SKF Limited)
  • Timken Company
  • Wafangdian Bearing

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Bearings for Mechanical and Electrical Products Market, By Product Type                      

                                6.1.1 Ball Bearings          

                                6.1.2 Plain Bearings        

                                6.1.3 Roller Bearings      

                                6.1.4 Fluid Bearings        

                                6.1.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.6 Y-o-Y Growth Rate Analysis              

                                6.1.7 Market Attractiveness Index           

                6.2 Bearings for Mechanical and Electrical Products Market, By Application                           

                                6.2.1 Oil & Gas 

                                6.2.2 Aerospace

                                6.2.3 Mining      

                                6.2.4 Power Generation

                                6.2.5 Food Processing   

                                6.2.6 Agriculture              

                                6.2.7 Commercial Applications  

                                6.2.8 Automotive            

                                6.2.9 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.10 Y-o-Y Growth Rate Analysis           

                                6.2.11 Market Attractiveness Index        

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product Type   

                                7.2.3 By Application       

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product Type   

                                7.3.3 By Application       

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product Type   

                                7.4.3 By Application       

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product Type   

                                7.5.3 By Application       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product Type   

                                7.6.3 By Application       

8. Key Player Analysis                                    

                8.1 Altra Industrial Motion                          

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Antifriction Bearings Corporation (ABC) Bearings Limited                       

                8.3 Asea Brown Boveri                  

                8.4 Emerson Electric Company                  

                8.5 Fujian Longxi Bearing (Group) Corp., Ltd                        

                8.6 Harbin Bearings                        

                8.7 Kaydon Corporation               

                8.8 Luoyang LYC Bearing Co., Ltd                              

                8.9 Nippon Seiko K.K.(NSK)                         

                8.10 RBC Bearings                           

                8.11 Rexnord Corporation                           

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • The segment-level analysis in terms of by type, application, end-use, along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development

  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

Global Bearings for Mechanical and Electrical Products Market By Region, From 2020-2025 ( USD Billion )

Global Bearings for Mechanical and Electrical Products Market By Product Type, From 2020-2025 ( USD Billion )

Global Ball Bearings Market By Region, From 2020-2025 ( USD Billion )

Global Plain Bearings Market By Region, From 2020-2025 ( USD Billion )

Global Roller Bearings Market By Region, From 2020-2025 ( USD Billion )

Global Fluid Bearings Market By Region, From 2020-2025 ( USD Billion )

Global Bearings for Mechanical and Electrical Products Market By Application, From 2020-2025 ( USD Billion )

Global Oil & Gas Market By Region, From 2020-2025 ( USD Billion )

Global Aerospace Market By Region, From 2020-2025 ( USD Billion )

Global Mining Market By Region, From 2020-2025 ( USD Billion )

Global Power Generation Market By Region, From 2020-2025 ( USD Billion )

Global Food Processing Market By Region, From 2020-2025 ( USD Billion )

Global Agriculture Market By Region, From 2020-2025 ( USD Billion )

Global Commercial Applications Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Market By Region, From 2020-2025 ( USD Billion )

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