Sliding Bearing Market

Sliding Bearing Market Size (2023 to 2028)

The global sliding bearing market was worth USD 0.87 billion in 2022 and is anticipated to reach a valuation of US$ 1.29 billion by 2028 and is predicted to register a CAGR of 6.37% during 2023-2028.

Market Drivers:

The global sliding bearing market is supported by the rising need for extended efficiency, increasing railway development projects, and the growing call for light rail & metros with urbanization. Moreover, the increasing potential for freight transport between the countries has prompted the necessity for custom-designed cars. This needs modification within the bogies to sustain such heavy loads. These modifications will cause the need for a greater number of sliding bearings, which can consequently grow the interest in sliding bearings.

Market Restraints:

The industry faces a possible threat from the opposite bearing types, which may handle loads from any direction. Hydrodynamic bearings can handle radial loads; however, they're unable to touch axial load and are vulnerable to failure. However, the gradual transition of combustion engines to electrical vehicles additionally poses a heavy threat, as a lesser range of bearings would be needed due to electrical motors replacement IC engines. Raw materials account for about 60% to 62% of the bearing manufacturer’s revenue. Alloy or high-grade steel is typically used to manufacture bearings, which exposes the industry to the volatility of worldwide steel prices. most components of the bearing like an inner ring, outer ring, rolling element, and cage are made from steel, aside from the seals.

Impact of COVID-19 on the Sliding Bearings Market:

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Market Recent Developments:

• Schaeffler India Limited introduced the launch event of locally manufactured Current Insulated Bearings. This sets a replacement precedent for the industry as Schaeffler India became the primary and only manufacturer in India to develop Current Insulated Bearings locally because the company introduced the merchandise.
• The word ‘hybrid’ is employed in engineering to explain a system where two various technologies are combined together. Igus® has now achieved this goal with a new type of economical hybrid roll and slide linear bearing.
• A brand-new slide bearing style with water lubrication and galvanic coupling prevents tribocorrosion while not furthering electricity. But so far, the fact that metal parts corrode once they inherit contact with water has been a serious obstacle.

SLIDING BEARING MARKET REPORT COVERAGE:

Market Segmentation:

Sliding Bearing Market - By Application:

• Engine
• Brakes
• Bogie
• Interior
• Exterior

The Bogie segment leads the sliding bearing marketplace for the railway, by application, during the review period. One bogie consists of varied components like a wheelset, stabilizer, bolster, dampers, swing links, and tilting mechanisms. Together one bogie has 10-12 units of sliding bearings, and because the bogie may be a basic requirement for all locomotives, EMUs, DMUs, coaches, wagons, metros, and high-speed trains, the demand for sliding bearings would be more during this application.

Sliding Bearing Market - By Bearing Type:

• Linear
• Thrust
• Radial
• Angular contact
• Others

Sliding Bearing Market - By Material:

• Metallic
• Non-metallic

The metallic sliding bearing segment is predicted to steer the market during the outlook period as metallic bearings can bear the high load and withstand heat. It's utilized in critical application areas like engine components like crankshaft, rod, camshaft, and valves (inlet and exhaust); wheelsets; and a few exterior components. The metallic sliding bearing will still dominate the market in the future due to its superior performance in withstanding heat and harsh environments.

Sliding Bearing Market - By Railway Type:

• Locomotive
• Diesel Multiple Unit (DMU)
• Electric Multiple Unit (EMU)
• Coach
• Wagon
• Light and Metro rail
• High-speed train

Market Reginal Analysis:

The Global Sliding Bearing Market Report includes the segmentation of regions:

• North America - U.S., Canada
• Europe - Norway, Germany, Sweden
• Asia Pacific - China, India, Japan
• Latin America - Brazil, Mexico, Argentina
• Middle East and Africa - Middle East, Africa

North America is expected to record significant growth over the foreseen period thanks to favourable government initiatives for the security of autos and passengers. Moreover, a stable economy, advanced technology, and a hike in interest for bearings from various industry verticals like aerospace & defence, and power are likely to further raise the market growth in North America. Asia Pacific is projected to steer the global sliding bearing market during the foreseen phase thanks to its higher demand for railways compared with other regions like Europe and the Americas. Moreover, the railway network extension plans by regional governments have also spurred interest in locomotives, wagons, and coaches. Also, the country-level projects to make public transportation more convenient and reduce traffic congestion will grow the demand for this market. As an example, the Chinese government has invested an estimated USD 148 billion to deploy more metros within the cities of Baotou, Urumqi, and Xiamen. Similar quite efforts are observed in other Asian countries like India, Japan, and Thailand. Therefore, all these future interests in the railways will lead to the installation of plain bearings for various applications. of these factors have resulted in the growth of the sliding bearing market within the region. NTN Corporation, THK, Longxi Bearing Group, and MinebeaMitsumi are a number of the key players serving the demand within the regional market.

Market Key Players:

1. Canam Group Inc.
2. Trelleborg AB
3. Ekspan Limited
4. Epic Polymer Systems Corp.
5. Freyssinet Limited
6. Granor Rubber & Engineering Pty. Limited
7. Gumba GmbH & Co. KG
8. KantaFlex (India) Private Limited
9. Mageba SA
10. Metal Engineering & Treatment Co. Pvt. Ltd.
11. RJ Watson, Inc.
12. Structural Rubber Products
13. Cosmec Inc.
14. Voss Engineering, Inc.
15. Zaoqiang Dacheng Rubber Co., Ltd.