Global Conveyor Bearings Market: by Type (Ball, Roller), Material (Steel, Plastic, Rubber, Others), Distribution Channel (Online, Offline), End User (Automotive, Aerospace, Marine, Oil & Gas, Robotics, Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)
The conveyor bearings market size is estimated to register a modest CAGR of 5% during the forecast period (2021-2027). The rising automation in the industrial sector, including the automotive and food & beverage industry, has been driving the demand for conveyor bearings across the globe. Moreover, the continuous rise in R&D spending by the market players to diversify its applications in untapped businesses is further expected to improve its consumption across the globe. However, the rising prices of steel worldwide are expected to raise the product price and hamper the market growth.
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Conveyor bearings are an essential component of any conveyor system across several industrial sectors, including food & beverages and mining. Among the types of conveyor bearings available in the market, there is the widespread use of rollerball conveyors and ball-bearing conveyors across the globe. Also, idler rollers with bearings, conveyor belt bearings, and ball bearings for conveyor rollers are expected to foresee new investment opportunities, owing to the change in trend in the global industrial sector to meet the updated production demand. The conveyor bearings for rollers are widely used in food and e-commerce facilities.
Rising adoption of conveyor bearing in robotics and automated guided vehicles
Rapid growth in the competitive scenario worldwide, considering the rising demand for robotics post-pandemic, is continually intending for manufacturing and supply chain process optimization. The increasing automation in industrial facilities minimizes workers’ direct contact at the worksites and enhances production capacity. These machines handle material handling capacities, production time optimization, reduce human error, increase workers’ safety, high production capacities, and improve repeatability. Such benefits increase the need for robotics in the market across warehouses, automotive facilities, and other plants. Rendering to the International Federation of Robotics (IFR), over 2.7 million robots worked in factories globally in 2020. Such benefits raise the demand for the robots and parallel increase the demand for conveyor bearings to further improve robotics productivity and efficiency.
The COVID-19 pandemic prevalence has positively impacted the conveyor bearings companies’ revenue due to the imposed lockdown and shutdown facilities regulations. However, the post-pandemic has widely increased in the global manufacturing output, which is estimated to lead to the additional need for the conveyor bearings to the end-users. The players are also investing in material advancement to globally minimize the conveyor bearings price and further influence its consumption in the end-use market.
The report outlines the global conveyor bearings market study based on type, material, distribution channel, and end user.
Based on the type, the conveyor bearings market has been segmented into –
Based on the material, the conveyor bearings market has been segmented into –
Based on the distribution channel, the conveyor bearings market has been segmented into –
Based on the end user, the conveyor bearings market has been segmented into –
Conveyor Bearings Market by Distribution Channel, 2018-2025 (USD Billion)
Based on the geographical viewpoint, the global conveyor bearings market has been segmented into five geographical regions: Asia Pacific, North America, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific held the largest market share for the conveyor bearings, followed by Europe and North America. Moreover, Europe is estimated to project the highest CAGR globally during the forecast period.
Key Global Conveyor Bearings Market Competitors Includes –
The global conveyor bearings market is highly fragmented, with the presence of a large number of small players across the globe. The vital conveyor bearings manufacturers operating in the global market are –
1. Ansell Limited 2. Top Glove Corporation 3. Honeywell International Inc. 4. Supermax Corporation 5. 3M Company 6. Hartalega Holdings 7. W.W. Grainger, Inc. 8. Kimberly-Clark Corporation 9. Protective Industrial Products, Inc. 10. Riverstone Holdings Ltd 11. Saf-T-Gard International, Inc. 12. Superior Glove Works Ltd 13. Lakeland Industries, Inc. 14. Lindström Oy 15. Marvel Gloves Industries
The conveyor bearings market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the conveyor bearings market aspects.
The conveyor bearings market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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