Bearing Market analysis is
covered in this latest research report that aims to help those taking daily
business decisions by providing market trends information, competitive
landscape scenario, forecasts and more. Bearings market size is expected to
exceed over USD 142 billion by 2022, as it will grow over 7.6% in the coming
years. This product is an essential mechanical component for proper and smooth
running of vehicles and machineries.
The
industrial heavy machinery sector is the largest end user market, followed by
automobile sector which can’t run without this product. The future growth of
this market will come with an increase in requirement in aerospace and railway
sectors. Asia Pacific is the greatest and fastest rising market in this sector,
followed by China. Asia Pacific market was USD 36 billion in 2014 and is
projected to gain USD 68 billion by 2022 with a CAGR of 8% between years
2015-2022.
Request for a sample of this research report
Increase in number of commuters
taking advantage of public transportation is likely to be the key facet of rise
in demand. Substantial growth is expected in this market because of high
requirement for tapered roller components in wheels, gearboxes and journal
applications along with ceramic coated ones used in traction-motor. They have
small surface contact thus help in reducing friction which makes vehicle run
smoothly and hence its demand can’t fall in future. It has a rising growth with
approximately 42% of the overall share in 2014 and is expected to enjoy 78% in
the coming year.
The market
trends seem to be promising in future. Automotive bearing market is projected
to get significant gains with projection of USD 71 billion at a CAGR of 7.3%.
An upsurge will be seen in agricultural sector as it is likely to grow with a
CAGR of 7% because of economic recovery and improved performance.
Machineries used for agriculture are
also estimated to contribute in the elevation of this market. But yes, it is
worth to notice the importance of the roller variety. They are mainly used when
load enduring capacity is more important than speed. As per the market report,
roller range is estimated to touch USD 51 billion up to 2022.
It is anticipated that Europe will
achieve USD 32 billion by 2022 which was USD 18 billion earlier in 2014. One
more example of rising market for this product is North America which is
expected to get USD 25 billion by 2022. Bearing market share is highly
productive.
Make an inquiry for purchasing thisreport
The list of top most companies includes
Timken, NSK Global, SKF, Schaeffler Group, JTEKT and NTN Corporation and these
companies are contributing almost 60% of overall industry share. However,
counterfeiting is a major problem which can be challenging to this market in
near future. It is a problem faced by many industries and is a threat for them.
Bearings
Industry Insights:
1
Industry segmentation
2
Industry Size and forecast
3
Industry ecosystem analysis
4
Industry Impact forces
4.1
Growth drivers
4.2
Industry pitfalls & challenges
5
Growth potential analysis
6
Porter’s analysis
7
Company market share analysis, 2014
8 PESTEL analysis
About Global Market Insights:
Global Market
Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and
industry research reports offer clients with penetrative insights and
actionable market data specially designed and presented to aid strategic
decision making. These exhaustive reports are designed via a proprietary
research methodology and are available for key industries such as chemicals,
advanced materials, technology, renewable energy and biotechnology.
No comments:
Post a Comment