Bearing Market was valued at $107.46 billion in 2019, and is projected to reach $143.53 billion by 2027, registering a CAGR of 6%.
Bearings are a kind of mechanical element that supports relative motion and helps to reduce the friction that occurs between moving parts. Bearings are applied in a variety of industries such as automobiles, wind turbines, construction and mining machinery, agricultural equipment, machine tools, etc. It is used in automobiles to ensure the smooth running of other types of vehicles, such as automobiles, electric vehicles (EVs) and large vehicles such as light commercial vehicles and trucks.
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The key players operating in the global bearing market include NSK Ltd., Schaeffler AG, NTN Corporation, SKF, Iljin Bearing, RKB Bearing, JTEKT Corporation, Timken, Wafangdian Bearing Co., Ltd. and THK Co. Ltd.
Key Market Segments
By Type
- Ball Bearing
- Tapered Bearing
By Size
- 30 to 40
- 41 to 50
- 51 to 60
- 61 to 70
- 70 & above
By Distribution Channel
- Original equipment manufacturers (OEMs)
- Aftermarket
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Scope of the Report
The research study analyzes the global Bearing industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Bearing Market Report
1. What was the Bearing Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Bearing Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Bearing Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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