Global Bearings Market Size And Market Growth Opportunities
The Business Research Company’s Bearings Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, September 29, 2022 /EINPresswire.com/ — According to ‘Bearings Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the bearings market is expected to grow to $158.78 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%. An increase in demand for electric vehicles is expected to propel the bearings market growth going forward.
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The bearing market consists of sales of bearings by entities (organizations, sole traders, and partnerships) that are used in a variety of industries to decrease friction between moving elements by supporting the relative motion. Bearings refer to a machine component that consists of rolling elements that minimize friction, carry weights, and direct the movement and position of moving machine parts.
Global Bearings Market Trends
Technological advancement is a key trend gaining popularity in the market. According to the bearings market analysis, manufacturers are focused on the use of customized bearings to fulfill their shifting needs as new technologies and digitalization become more widely adopted. For instance, in June 2020, AB SKF, a Sweden-based bearing and seal manufacturing company, developed an SKF bearing assist app that simplifies the task of mounting and replacing bearings. The app contains product information, including bearing a designation, bearing type and suffix descriptions, dimensions, and illustrations. This minimizes installation costs and time while also eliminating the inconvenience of improper mounting, extending the bearings’ service life.
Global Bearings Market Segments
The global bearings market is segmented:
By Bearing Type: Unmounted Bearing, Mounted Bearing
By Material: Metal, Plastic, Ceramics
By Application: Automotive, Agriculture, Electrical, Mining and construction, Railway and Aerospace, Automotive Aftermarket, Others
By Distribution Channel: Online, Offline
By Geography: The global bearings market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.
Read more on the global bearings market report here
Bearings Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides bearings global market forecast, overviews and analyzes market size and growth for the bearings global market, bearings global market share, bearings global market segments and geographies, bearings global market players, bearings global market leading competitor revenues, profiles and market shares. The bearings market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Bearings Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Harbin Bearing Manufacturing Co. Ltd, HKT Bearings Ltd, Igus, JTEKT Corporation, MinebeaMitsumi Inc, Nachi-Fujikoshi Corp, NSK Ltd, NTN Corporation, RBC Bearings Inc, Rexnord Corporation, Schaeffler AG, SKF Group, Saint-Gobain, Oiles Corporation, Rubix Group International Limited, SNL Bearings Limited, and Tenneco Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
Looking for something else? Here is a list of similar reports by The Business Research Company:
Ceramics Global Market Report 2022
Aerospace Bearings Market Report 2022
Precast Construction Global Market Report 2022
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