February 16, 2022 06:38 ET | Source: Research and Markets Research and Markets

Dublin, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The "Global Bearings Market, By Product, By Material, By Industry, By Industrial, By Size, Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering. The global bearings market held a market value of USD 76,418.9 Million in 2020 and is forecasted to reach USD 120,054.1 Million by the year 2027. The market is expected to register a CAGR of 6.7% during the forecast period. Increasing utilization of bearing in motor, the demand for automotive electrification, government initiatives to drive the manufacturing sector, and increasing demand for bearings in energy-efficient cars are anticipated to boost the market growth. Also, bearings are used in all kinds of machines and equipment, such as household appliances, aerospace & defense equipment, farm machines, and automobile parts, among others. This wide range of applications is also estimated to boost market growth. Despite the driving factors the increasing sales of counterfeit products are estimated to hinder the market growth. During the COVID-19 pandemic, the market experienced a decline in growth due to supply chain disruptions. The automotive sector, which is one of the largest consumers of bearings also faced losses, which negatively hampered the market growth. Growth Influencers:

Increasing demand for bearings in energy-efficient cars Modern automobiles, including cars, are aiming towards achieving maximum vehicle uptime, a better total cost of ownership, and utilization. Bearings are one of the most vital components for the performance enhancement of all the rotating parts. They also have applications in achieving lower system noise. The modern bearings are far more technologically advanced and refined as compared to the traditional bearings. They are increasingly being used in the manufacturing of modern powertrains, which are fuel-efficient as well as lead to lesser emissions. This is estimated to fuel the market growth. Government initiatives to drive the manufacturing industry Globally, most nations have favorable government regulations and policies to manufacture safe products. For instance, the regulatory framework in India is supported by 3 government institutions - the Ministry of Heavy Industries & Public Enterprises, the Bureau of Indian Standards, and the Ministry of Labour & Employment. The country also has favorable policies, such as the National Policy on Safety, Health & Environment at Workplace 2009 and National Capital Goods Policy 2016, among others. These help in setting standards & compliance on safety, health & environment. They also help in promoting exports, increase domestic production, technology improvement, mandatory standardization of machines & equipment by adopting ISO, reduce sub-standard imports through standardization, and skill development. All these factors support the manufacturing sector, hence boosting the market growth.

On a regional basis, the global bearings market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific region held the largest market share of around 48% owing to the presence of manufacturing facilities of various companies in the region. The Europe region held the second largest market share owing to the presence of many end-users in countries such as Germany and France, among others. Competitive Landscape

Key players operating in the global bearings market include SKF, Schaeffler India Limited, Timken India Ltd., NRB Bearings Limited, National Engineering Industries Ltd (NEI), SB Industries Private Limited, JTEKT India Limited, NTN Corporation, THB Bearings Co. Ltd, Menon Bearings Ltd, and Other Major Players. Major 6 players in the market hold about37% of the market share. These players are involved in mergers & acquisitions, product launches, and collaboration, among others. For instance, in August 2021, NTN Corporation announced the development of a low torque plastic bearing which is expected to contribute to lower fuel consumption in automobiles by reducing the torque by 30%, as compared to the conventional bearings. The global bearings market report provides insights on the below pointers:

The global bearings market report answers questions such as:

Key Topics Covered: Chapter 1. Research Framework 1.1. Research Objective 1.2. Product Overview 1.2.1. Market Segmentation 1.2.2. Market & Segment Definitions 1.3. Research Methodology 1.3.1. Supply Side (Revenue Analysis) 1.3.2. Demand Side (Spending Analysis) 1.3.3. Data Heads Tracked 1.3.3.1. Quantitative Research 1.3.3.2. Qualitative Research 1.3.4. List of Primary & Secondary Sources 1.3.4.1. Sample Size 1.3.4.2. Sample Distribution 1.3.5. Market Size Estimation 1.3.5.1. Assumption for the Study 1.3.5.2. Data Triangulation Chapter 2. Executive Summary: Global Bearings Market Chapter 3. Introductio 3.1. Automotive 3.2. Heavy Equipment 3.3. Railways 3.4. Machine Tools Chapter 4. Global Bearings Market Overview 4.1. Industry Value Chain Analysis 4.1.1. Software/ Hardware Developers 4.1.2. Operator 4.1.3. Platform Provider 4.1.4. End-users 4.2. Technology Lifecycle 4.3. Porter's Five Forces Analysis 4.3.1. Bargaining Power of Suppliers 4.3.2. Bargaining Power of Buyers 4.3.3. Threat of Substitutes 4.3.4. Threat of New Entrants 4.3.5. Degree of Competition 4.4. PEST Analysis 4.5. Market Dynamics and Trends 4.5.1. Growth Drivers 4.5.2. Restraints 4.5.3. Challenges 4.5.4. Key Trends 4.6. Competition Dashboard 4.6.1. Market Concentration Rate 4.6.2. Company Market Share Analysis (%), 2020 4.6.3. Competitor Mapping 4.7. Impact Assessment of Covid-19 Chapter 5. Global Bearings Market Analysis, By Product 5.1. Key Insights 5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 5.2.1. Ball Bearings 5.2.1.1. Deep Groove Ball Bearings 5.2.1.2. Self-Aligning Ball Bearings 5.2.1.3. Angular-Contact Ball Bearings 5.2.1.4. Thrust Ball Bearings 5.2.2. Roller Bearings 5.2.2.1. Tapered Roller Bearings 5.2.2.2. Spherical Roller Bearings 5.2.2.3. Cylindrical Roller Bearings 5.2.2.4. Needle Roller Bearings 5.2.3. Mounted Bearings 5.2.4. Linear Bearings 5.2.5. Slide Bearings 5.2.6. Jewel Bearings 5.2.7. Frictionless Bearings Chapter 6. Global Bearings Market Analysis, By Size 6.1. Key Insights 6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 6.2.1. 30 to 40 mm 6.2.2. 41 to 50 mm 6.2.3. 51 to 60 mm 6.2.4. 61 to 70 mm 6.2.5. 70 mm & above Chapter 7. Global Bearings Market Analysis, By Material 7.1. Key Insights 7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 7.2.1. Specialty Steel Alloys 7.2.2. Plastic 7.2.3. Ceramics Chapter 8. Global Bearings Market Analysis, By Industry 8.1. Key Insights 8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 8.2.1. Automotive 8.2.1.1. OEM 8.2.1.2. Aftermarket 8.2.2. Industrial 8.2.2.1. Agriculture 8.2.2.2. Railway 8.2.2.3. Mining 8.2.2.4. Aerospace 8.2.2.5. Machine Tools 8.2.2.6. Others Chapter 9. Global Bearings Market Analysis, By Industrial 9.1. Key Insights 9.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 9.2.1. OEM's 9.2.2. Aftermarket Chapter 10. Global Bearings Market Analysis, By Geography 10.1. Key Insights 10.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 10.2.1. North America 10.2.1.1. The U.S. 10.2.1.2. Canada 10.2.1.3. Mexico 10.2.2. Europe 10.2.2.1. The U.K. 10.2.2.2. Germany 10.2.2.3. France 10.2.2.4. Spain 10.2.2.5. Russia 10.2.2.6. Rest of Europe 10.2.3. Asia Pacific 10.2.3.1. China 10.2.3.2. India 10.2.3.3. Japan 10.2.3.4. Australia & New Zealand 10.2.3.5. ASEAN 10.2.3.6. South Korea 10.2.3.7. Rest of Asia Pacific 10.2.4. South America 10.2.4.1. Argentina 10.2.4.2. Brazil 10.2.4.3. Rest of South America 10.2.5. Middle East & Africa 10.2.5.1. U.A.E. 10.2.5.2. Saudi Arabia 10.2.5.3. South Africa 10.2.5.4. Israel 10.2.5.5. Rest of Middle East & Africa Chapter 11. North America Bearings Market Analysis 11.1. Key Insights 11.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 11.2.1. By Product 11.2.2. By Size 11.2.3. By Material 11.2.4. By Industry 11.2.5. By Industrial 11.2.6. By Country/Region Chapter 12. Europe Bearings Market Analysis 12.1. Key Insights 12.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 12.2.1. By Product 12.2.2. By Size 12.2.3. By Material 12.2.4. By Industry 12.2.5. By Industrial 12.2.6. By Country/Region Chapter 13. Asia Pacific Bearings Market Analysis 13.1. Key Insights 13.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 13.2.1. By Product 13.2.2. By Size 13.2.3. By Material 13.2.4. By Industry 13.2.5. By Industrial 13.2.6. By Country/Region Chapter 14. South America Bearings Market Analysis 14.1. Key Insights 14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 14.2.1. By Product 14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 14.2.1. By Product 14.2.2. By Size 14.2.3. By Material 14.2.4. By Industry 14.2.5. By Industrial 14.2.6. By Country/Region Chapter 15. Middle East & Africa Bearings Market Analysis 15.1. Key Insights 15.2. Market Size and Forecast, 2017 - 2027 (US$ Mn) 15.2.1. By Product 15.2.2. By Size 15.2.3. By Material 15.2.4. By Industry 15.2.5. By Industrial 15.2.6. By Country/Region Chapter 16. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook) 16.1. SKF 16.2. Schaeffler India Limited 16.3. Timken India Ltd. 16.4. NRB Bearings Limited 16.5. National Engineering Industries Ltd (NEI) 16.6. SB Industries Private Limited 16.7. JTEKT India Limited 16.8. NTN Corporation 16.9. THB Bearings Co. Ltd 16.10. Menon Bearings Ltd 16.11. Other Major Players For more information about this report visit https://www.researchandmarkets.com/r/1t5r9w