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.
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.
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.
