Home / Automotive & Transportation / Bearings Market By End-use Application (Industrial Heavy Machinery, Automotive, Electronics and Electrical, Aerospace, and Other End-use Applications), By Type (Plain Bearings, Ball Bearings, Roller Bearings, and Others) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023

Bearings Market By End-use Application (Industrial Heavy Machinery, Automotive, Electronics and Electrical, Aerospace, and Other End-use Applications), By Type (Plain Bearings, Ball Bearings, Roller Bearings, and Others) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023

Published: Jun 2016 | Report Code: 57951-06-16

Revival of the construction industry post economic slowdown is one of the major factors driving the global bearings market. Increased industrial production and agricultural mechanization coupled with the growing demand from aerospace and automotive sectors is also influencing the market demand. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.3% during the forecast period 2016 – 2023. However, issues such as lack of product differentiation resulting in price wars and profit crunching pose moderate challenge to the market growth. The global bearings market  is expected to expand at a CAGR of 7.3% from 2016 to 2023, exceeding US$ 141.3 Bn by 2022.

Bearings Market

Report Scope

This report analyzes the global bearings market in terms of product types, end-use application, and geography. On the basis of product types, the market is segmented into plain bearings, ball bearings, and roller bearings among others. Similarly, on the basis of end-use application, the market for bearings is further classified into industrial heavy machinery (construction and mining, and agriculture), automotive, electrical and electronics, and aerospace among others. The geographical distribution of the global bearings market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Bearings Market

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Bearings Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global bearings market.

Target Audience

  • Industry Investors
  • Bearings Manufacturers
  • Industrial Equipment Manufacturers
  • End-users

USP and Key Offerings

The report titled “Global Bearings Market- Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global Bearings market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on applications, product types, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading bearings manufacturers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the bearings market
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Value Chain Analysis
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global Bearings market, offering market size and estimates for the period from 2015 to 2022, keeping in mind the above mentioned factors.

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Bearings Market Snapshot

3. Global Bearings Market Analysis
3.1. Global Bearings Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.3.3. Opportunity Matrix
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Market Positioning of Key Industry Participants
3.6.1. Major Strategies Adopted
3.6.2. Analyst Recommendations

4. Global Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
4.1. Tornado Analysis
4.2. Plain Bearings
4.3. Ball Bearings
4.4. Roller Bearings
4.5. Others

5. Global Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
5.1. Tornado Analysis
5.2. Industrial Heavy machinery
5.2.1. Construction and Mining
5.2.2. Agriculture
5.3. Automotive
5.4. Electrical and Electronics
5.5. Aerospace
5.6. Others

6. North America Bearings Market Analysis, 2014 – 2023 (US$ Bn)
6.1. North America Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
6.1.1. Plain Bearings
6.1.2. Ball Bearings
6.1.3. Roller Bearings
6.1.4. Others
6.2. North America Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
6.2.1. Industrial Heavy machinery
6.2.1.1. Construction and Mining
6.2.1.2. Agriculture
6.2.2. Automotive
6.2.3. Electrical and Electronics
6.2.4. Aerospace
6.2.5. Others
6.3. North America Bearings Market Revenue, By Country, 2014 – 2023 (US$ Bn)
6.3.1. U.S.
6.3.1.1. U.S. Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
6.3.1.2. U.S. Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
6.3.2. Canada
6.3.2.1. Canada Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
6.3.2.2. Canada Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)

7. Europe Bearings Market Analysis, 2014 – 2023 (US$ Bn)
7.1. Europe Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
7.1.1. Plain Bearings
7.1.2. Ball Bearings
7.1.3. Roller Bearings
7.1.4. Others
7.2. Europe Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
7.2.1. Industrial Heavy machinery
7.2.1.1. Construction and Mining
7.2.1.2. Agriculture
7.2.2. Automotive
7.2.3. Electrical and Electronics
7.2.4. Aerospace
7.2.5. Others
7.3. Europe Bearings Market Revenue, By Region, 2014 – 2023 (US$ Bn)
7.3.1. U.K.
7.3.1.1. U.K. Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
7.3.1.2. U.K. Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
7.3.2. Germany
7.3.2.1. Germany Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
7.3.2.2. Germany Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
7.3.3. France
7.3.3.1. France Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
7.3.3.2. France Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
7.3.4. Rest of Europe
7.3.4.1. Rest of Europe Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
7.3.4.2. Rest of Europe Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)

8. Asia Pacific Bearings Market Analysis, 2014 – 2023 (US$ Bn)
8.1. Asia Pacific Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
8.1.1. Plain Bearings
8.1.2. Ball Bearings
8.1.3. Roller Bearings
8.1.4. Others
8.2. Asia Pacific Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
8.2.1. Industrial Heavy machinery
8.2.1.1. Construction and Mining
8.2.1.2. Agriculture
8.2.2. Automotive
8.2.3. Electrical and Electronics
8.2.4. Aerospace
8.2.5. Others
8.3. Asia Pacific Bearings Market Revenue, By Country, 2014 – 2023 (US$ Bn)
8.3.1. Japan
8.3.1.1. Japan Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
8.3.1.2. Japan Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
8.3.2. China
8.3.2.1. China Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
8.3.2.2. China Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
8.3.3. India
8.3.3.1. India Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
8.3.3.2. India Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
8.3.4. Rest of Asia Pacific
8.3.4.1. Rest of Asia Pacific Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
8.3.4.2. Rest of Asia Pacific Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)

9. Rest of World Bearings Market Analysis, 2014 – 2023 (US$ Bn)
9.1. Rest of World Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
9.1.1. Plain Bearings
9.1.2. Ball Bearings
9.1.3. Roller Bearings
9.1.4. Others
9.2. Rest of World Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
9.2.1. Industrial Heavy machinery
9.2.1.1. Construction and Mining
9.2.1.2. Agriculture
9.2.2. Automotive
9.2.3. Electrical and Electronics
9.2.4. Aerospace
9.2.5. Others
9.3. Rest of World Bearings Market Revenue, By Region, 2014 – 2023 (US$ Bn)
9.3.1. Latin America
9.3.1.1. Latin America Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
9.3.1.2. Latin America Pacific Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)
9.3.2. Middle-East and Africa
9.3.2.1. Middle-East and Africa Bearings Market Revenue, By Type, 2014 – 2023 (US$ Bn)
9.3.2.2. Middle-East and Africa Bearings Market Revenue, By End-use Application, 2014 – 2023 (US$ Bn)

10. Company Profiles
10.1. GE SKF Group
10.2. NSK Ltd.
10.3. The Timken Company
10.4. Schaeffler Technologies GmbH & Co. KG
10.5. NTN Corporation
10.6. Minebea Co. Ltd.
10.7. Spyraflo, Inc.
10.8. JTKET Corporation
10.9. Federal Mogul Corp.
10.10. Brammer Plc
10.11. NBI Bearings Europe, S.A.
10.12. C&U Group Company Limited

List of Figures

FIG. 1 Global Bearings: Market Segmentation
FIG. 2 Global Bearings Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Bearings Market, By Product Type, 2015 (US$ Bn)
FIG. 5 Global Bearings Market, By End-use Application, 2015 (US$ Bn)
FIG. 6 Global Bearings Market, By Geography, 2015 (US$ Bn)
FIG. 7 Global Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn and % Y-o-Y)
FIG. 8 See-Saw Analysis : Global Bearings Market
FIG. 9 Value Chain Analysis: Global Bearings Industry
FIG. 10 Market Positioning of Key Industry Participants, 2015
FIG. 11 Global Bearings Market Revenue Contribution, By Product Type, 2015 & 2023 (Value %)
FIG. 12 Global Plain Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn)
FIG. 13 Global Ball Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn)
FIG. 14 Global Roller Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn)
FIG. 15 Global Bearings Market Revenue and Growth for Other Products, 2014 - 2023, (US$ Bn)
FIG. 16 Global Bearings Market Revenue Contribution, By End-use Application, 2015 & 2023 (US$ Bn)
FIG. 17 Global Bearings Market Revenue and Growth for Industrial Heavy Machinery Applications, 2014 - 2023, (US$ Bn)
FIG. 18 Global Bearings Market Revenue and Growth for Construction & Mining Applications, 2014 - 2023, (US$ Bn)
FIG. 19 Global Bearings Market Revenue and Growth for Agriculture Applications, 2014 - 2023, (US$ Bn)
FIG. 20 Global Bearings Market Revenue and Growth for Automotive Applications, 2014 - 2023, (US$ Bn)
FIG. 21 Global Bearings Market Revenue and Growth for Electronic and Electrical Applications, 2014 - 2023, (US$ Bn)
FIG. 22 Global Bearings Market Revenue and Growth for Aerospace Applications, 2014 - 2023, (US$ Bn)
FIG. 23 Global Bearings Market Revenue and Growth for Other Applications, 2014 - 2023, (US$ Bn)
FIG. 24 North America Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn) (Y-o-Y %)
FIG. 25 Europe Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn) (Y-o-Y %)
FIG. 26 Asia Pacific Bearings Market Revenue and Growth, 2014 - 2023, (US$ Bn) (Y-o-Y %)
FIG. 27 RoW Bearings Market Revenue and Growth, 2014– 2023, (US$ Bn) (Y-o-Y %)

List of Tables

TABLE 1 Market Snapshot: Global Bearings Market
TABLE 2 Evolution of Bearingss
TABLE 3 Impact Indicators
TABLE 4 Impact Analysis of Drivers and Restraints
TABLE 5 North America Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 6 North America Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 7 North America Bearings Market Revenue, By Country, 2014 - 2023 (US$ Bn)
TABLE 8 U.S. Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 9 U.S. Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 10 Canada Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 11 Canada Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 12 Europe Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 13 Europe Bearings Market Revenue, By End-use Application, 2015 - 2023 (US$ Bn)
TABLE 14 Europe Bearings Market Revenue, By Country, 2014 - 2023 (US$ Bn)
TABLE 15 U.K. Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 16 U.K. Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 17 France Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 18 France Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 19 Germany Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 20 Germany Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 21 Rest of Europe Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 22 Rest of Europe Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 23 Asia Pacific Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 24 Asia Pacific Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 25 Asia Pacific Bearings Market Revenue, By Country, 2014 - 2023 (US$ Bn)
TABLE 26 China Bearings Market Revenue, By Product Type, 2014- 2023 (US$ Bn)
TABLE 27 China Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 28 Japan Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 29 Japan Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 30 India Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 31 India Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 32 Rest of Asia Pacific Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 33 Rest of Asia Pacifc Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 34 Rest of World Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 35 Rest of World Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 36 Rest of World Bearings Market Revenue, By Region, 2014 - 2023 (US$ Bn)
TABLE 37 Latin America Bearings Market Revenue, By Product ype, 2014 - 2023 (US$ Bn)
TABLE 38 Latin America Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)
TABLE 39 Middle-East and Africa Bearings Market Revenue, By Product Type, 2014 - 2023 (US$ Bn)
TABLE 40 Middle-East and Africa Bearings Market Revenue, By End-use Application, 2014 - 2023 (US$ Bn)

On the basis of product type, the global bearings market is categorized into following segments:

  • Plain Bearings
  • Roller Bearings
  • Ball Bearings
  • Others (Jewel Bearing, etc.)

Bearings Market                             

In terms of revenue, ball bearings dominated the global bearings market in the base year of 2015. The segment accounted for over 39% of the global bearings market revenue in the same year. Ball bearings are further classified into thrust ball bearings, angular contact ball bearings, radial deep grove ball bearings, self-aligning ball bearings and wheel hub ball bearing units. Ball bearings have comparatively smaller surface contact, which, in turn helps to minimize friction to a large extent. In addition, their ability to rotate evenly and exhibit continual raceway makes them a preferred choice to be used with radial and thrust loading.  On the other hand, roller bearings are presumed to witness strong growth during the forecast period 2016 – 2023 on account of growing use across heavy load applications. Plain bearing and jewel bearings are also expected to exhibit steady growth over the forecast period.

On the basis of application, the global bearings market is categorized into following segments:

  • Industrial Heavy Machinery
    • Construction and Mining
    • Agriculture
  • Automotive
  • Electronics and Electrical
  • Aerospace
  • Other End-use Applications

The contribution of these applications to the global bearings market in 2015 and 2023 is as shown in the figure below

Bearings Market

As of 2015, the global bearings market was led by the industrial heavy machinery (construction and mining, agriculture) segment in terms of revenue. The segment accounted for over 30% of the global bearings market revenue in the same year and is expected to exhibit steady growth during the forecast period led by the revival of the construction industry post economic recovery. In addition, growing farm mechanization, especially in emerging agrarian economies has favored the market demand.  The automotive was the second largest end-user market, which accounts for around one-fourth of the global market revenue. The market for automotive bearings is expected to be driven by growing demand and production of off-highway and two-wheeler vehicles. Other segments including aerospace and transportation (ex- railway) are all set to witness robust growth over the forecast period 2016 – 2023.

On the basis of geography, the global bearings market is segmented into following regions and countries.

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • United Kingdom
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East and Africa

The contribution of these regions (North America, Europe, Asia Pacific, and RoW) to the global bearings market in 2015 is as shown in the figure below

 

Bearings Market

In the base year of 2015, Asia Pacific was the largest bearings market in terms of both revenue and volume. The region accounted for over 39% of the global bearings market revenue in the same year and is expected to exhibit strong growth led by demand from China. China is currently the largest producer and consumer of bearings in Asia Pacific followed by India. The trend shall prolong and the region is poised to retain its leading position throughout the forecast period 2016 – 2023. The demand for bearings in the region is also attributed to the flourishing construction and industrial sectors. Developed markets including North America and Europe witnessed lackluster growth in recent years due to economic slowdown. However, with markets showing economic stability, the industrial and construction sector in these regions is poised to regain its original growth levels, offering the necessary traction to the market growth.

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