The North America bearings market size is predicted to touch USD 25 billion mark by 2022 and its growth is driven by the expansion of manufacturing industry.
— As per Global Market Insights Inc.,” The bearings market share worth USD 79 billion in 2014, is forecast to exceed USD 140 billion by 2022, growing at a CAGR of 7.5% over the period of 2015-2022.”
Bearings find myriad applications across mining & construction, agriculture, railway & aerospace, automotive, and electrical industries. The bearings market share worth USD 40.6 billion in 2014 in the automotive industry, is predicted to reach USD 71 billion over the period of 2015-2022. Growing need for lightweight & high performing automobiles and disc drives has resulted in enhanced use of small and light weight bearings in automobiles. The bearings application in the agriculture industry is forecast to grow at a CAGR of 7% due to the computerization of farming activities in emerging economies. Moreover, technological innovations, ability to operate at extreme temperatures, substantial weight reduction, and high speed is predicted to drive the demand for bearings across the railways and aerospace industry.
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Amongst the various types of bearings such as ball bearings and roller bearings available in the industry, the ball bearings market is forecast to reach USD 62.1 billion by 2022, leading the product landscape over the period of 2015-2022. Ball bearings have small surface contact which helps in reducing friction. It also spins smoothly and hence can be used with radial loading and thrust. The roller bearings market is projected to reach USD 51 billion by 2022 due to its growing use across heavy load settings.
The Asia Pacific bearings market share worth USD 36 billion in 2014, is expected to reach USD 68 billion by 2022, owing to the rapid infrastructure growth and industrialization. The Europe bearings market worth USD 18 billion in 2014, is anticipated to touch USD 32 billion by 2022. The North America bearings market size is predicted to touch USD 25 billion mark by 2022 and its growth is driven by the expansion of manufacturing industry. Furthermore, enhanced sales of high value bearings and custom built bearings are predicted to drive the regional growth over the coming years. The U.S. bearings market is anticipated to touch USD 25.1 mark by 2022.
Key market players include Brammer PLC Company, Timken Company, HKT Bearings Ltd, NSK Global, Schaeffler Group, SKF, Minebea Company Limited, JTEKT Corporation, RBC Bearings Inc, C&U Group, and NTN Corporation. The industry participants will try to increase their market share through new product launches, market penetration, mergers & acquisitions, and R&D investments.
Browse key industry insights spread across 160 pages with 100 market data tables & 59 figures & charts from the report, “Bearings Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/bearings-market-report
Glimpse of Table of Content (ToC)
Chapter 4 Bearings Market Product Insights
4.1 Global bearings market share by product, 2014 & 2022
4.2 Ball Bearings
4.2.1 Global ball bearings demand, by region, 2012 - 2022
22.214.171.124 Global deep groove ball bearings (DGBB) demand, by region, 2012 - 2022
126.96.36.199 Global other ball bearings demand, by region, 2012 - 2022
4.3 Roller Bearings
4.3.1 Global roller bearings demand, by region, 2012 - 2022
188.8.131.52 Global split roller bearings (SRB) demand by region, 2012 - 2022
184.108.40.206 Global tapered roller bearings (TRB) demand by region, 2012 - 2022
220.127.116.11 Global other roller bearings demand, by region, 2012 - 2022
Chapter 5 Bearings Application Insights
5.1 Bearings market share by application, 2014 & 2022
5.2.1 Global automotive bearings demand, by region, 2012 - 2022
5.3.1 Global agriculture bearings demand, by region, 2012 - 2022
5.4.1 Global electrical bearings demand, by region, 2012 - 2022
5.5 Mining & Construction
5.5.1 Global mining & construction bearings demand, by region, 2012 - 2022
5.6 Railway & Aerospace
5.6.1 Global railway & aerospace bearings demand, by region, 2012 - 2022
5.7 Automotive Aftermarket
5.7.1 Global automotive aftermarket bearings demand, by region, 2012 - 2022
5.8.1 Global bearings demand in other applications, by region, 2012 - 2022
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/bearings-market-report
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