Exhibiting a CAGR of 3.0% between 2018 and 2028, the global roller bearings market is expected to reach USD 26.71 Bn by 2028, as against USD 21.05 Bn in 2018. Roller bearings are one of the earliest known types of rolling element bearing and are increasingly used in heavy machinery and equipment. Fortune Business Insights in a new report, titled “Roller Bearings Market Size, Share and Global Trend By Product Type (Tapered, Spherical, Cylindrical, Others), By Application (Automotive, Industrial Machinery, Aerospace, Others) and Geography Forecast till 2028” entails current roller bearings market trends between 2018 and 2028. Several manufacturing facilities and automotive firms use roller bearing material to improve the efficiency and performance of machinery and vehicles.
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Nowadays, industries are installing high-end and expensive equipment to ensure smooth functioning of their day-to-day operations. Against this backdrop, the demand for these bearings will fuel, which in turn, will augment the roller bearings market growth. As per the requirements, industrial firms use different types of roller bearings such as tapered, cylindrical, spherical, and needle, favoring the roller bearings market demand.
The rising number of offshore wind farms is expected to moderately push the market to grow in the foreseeable future.
1. By Product Type
- Others (Thrust, Needles)
2. By Application
- Industrial Machinery
- Others (Railway)
3. By Region
- North America (The U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
For more information in the analysis of this report, visit http://www.globenewswire.com/news-release/2019/09/03/1909744/0/en/Roller-Bearings-Market-to-Cross-US-26-71-Bn-by-2028-SKF-Timken-and-Schaeffler-to-Focus-on-Introducing-Smart-Bearings-and-Minimize-Chances-of-Operational-Breakdown-Fortune-Business-.html
Rising Demand for Heavy Machinery to Favor Growth of Cylindrical Roller Bearings Segment
The cylindrical roller bearings segment covered the highest share in the global market in 2018. The demand for these bearings is expected to rise on account of their rising adoption across industries such as aerospace and automotive. Cylindrical roller bearings are used in heavy machinery to carry and handle heavy radial loads at high speed and performance. The roller bearings market size is anticipated to further expand with the increasing use of tapered roller bearings. These bearings are primarily designed to handle axial and radial forces at the same time. These are integrated into defense and medical equipment to accommodate combined loads. In the world of bearings, spherical roller bearings are likely to gain prominence owing to their numerous properties. These bearings have the ability to easily mount and erect, are highly reliable, and can withstand shock loads. Furthermore, these bearings are largely used in international markets and expanding its geographical presence to all the industries, especially in aerospace and automotive. The rising application of these type of bearings is expected to drive the market growth in the forecast period.
- NTN Bearing Corporation
- NSK Ltd.
- THE TIMKEN COMPANY
- Schaeffler Technologies AG & Co. KG
- IKO International, Inc. / Nippon Thompson Co., Ltd.
- JTEKT Corporation (Koyo)
- Luoyang Huigong Bearing Technology Co., Ltd.
- LYC Private Limited
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Table of Content
5. Global Roller Bearings Market Analysis, Insights and Forecast, 2015-2028
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecasts
5.2.1. By Product Type (Value and Volume)
184.108.40.206. Others (Thrust, Needles)
5.2.2. By Application (Value)
220.127.116.11. Industrial Machinery
18.104.22.168. Others (Railway)
5.2.3. By Geography (Value)
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Middle East and Africa
184.108.40.206. Latin America
6. North America Roller Bearings Market Analysis, Insights and Forecast, 2015-2028
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Product Type (Value and Volume)
220.127.116.11. Others (Thrust, Needles)
6.2.2. By Application (Value)
18.104.22.168. Industrial Machinery
22.214.171.124. Others (Railway)
6.2.3. By Country (Value)
126.96.36.199. United States
7. Europe Roller Bearings Market Analysis, Insights and Forecast, 2015-2028
7.1. Key Findings / Summary
7.2. Key Policies and Regulations
7.3. Market Size Estimates and Forecasts
7.3.1. By Product Type (Value and Volume)
188.8.131.52. Others (Thrust, Needles)
7.3.2. By Application (Value)
184.108.40.206. Industrial Machinery
220.127.116.11. Others (Railway)
7.3.3. By Country (Value)
18.104.22.168. Rest of Europe
8. Asia Pacific Roller Bearings Market Analysis, Insights and Forecast, 2015-2028
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecasts
8.2.1. By Product Type (Value and Volume)
22.214.171.124. Others (Thrust, Needles)
8.2.2. By Application (Value)
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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