Bearings market size set to increase by USD 13,022.13 million from 2022 to 2027: Growth opportunities led by AB SKF, ASAHI SEIKO Co. Ltd., and Bharat Forge Ltd. – Technavio

NEW YORK, Feb. 15, 2023 /PRNewswire/ — The bearings market size is forecast to increase by USD 13,022.13 million from 2022 to 2027, at a CAGR of 2.97%, according to the recent market study by Technavio. The report includes historic market data from 2017 to 2021. In 2017, the parcel sortation market was valued at USD 76,615.67 million. The growth of the market will be driven by the Strong demand for high-quality bearings, the growing adoption of automation in the manufacturing process, and APAC acting as a market enabler. Charts and data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including AB SKF, ASAHI SEIKO Co. Ltd., Bharat Forge Ltd., C and U Americas, HKT BEARINGS Ltd., JTEKT Corp., Luoyang JCB Bearing Technology Co. Ltd., LYC Bearing Corp., MinebeaMitsumi Inc., myonic GmbH, NACHI FUJIKOSHI Corp., NBI Bearings Europe SA, NSK Ltd., RBC Bearings Inc., Regal Rexnord Corp., Schaeffler AG, THB Bearings Co. Ltd., The Timken Co., Wafangdian Guangyang Bearing Group Co. Ltd., and NTN Corp.

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Key benefits for industry players & stakeholders – 

  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
  • It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
  • Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by segment product (anti-friction bearings, magnetic bearings, and other bearings), end-user (automotive industry, heavy industry, ARS industry, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Segmentation by Product (Inclusion/Exclusion)

  • Anti-friction bearings
    •  Anti-friction bearings reduce the friction between the rotating or moving parts of equipment, such as shafts, axles, and wheels. The demand for anti-friction bearings is growing with the rise in core manufacturing processes in the industrial segment and automotive industries, as these bearings find extensive use in all industries, such as automotive, aerospace, railways, wind generation, and defense. The growth in wind power capacity also contributes to the growing demand for anti-friction bearings as different parts of wind turbines use various types of bearings such as shaft, gearbox, generator, and yaw and pitch systems.

Related Reports:

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  • The industrial chain drives market share is expected to increase to USD 824.75 million from 2022 to 2027, at a CAGR of 3.59%. Furthermore, this market research extensively covers segmentation by end-user (industrial sector and agricultural sector) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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What are the key data covered in this bearings market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the bearings market between 2023 and 2027
  • Precise estimation of the bearings market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the bearings market industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of bearings market vendors

Bearings Market Scope

Report Coverage

Details

Page number

170

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 2.97%

Market growth 2023-2027

USD 13,022.13 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.56

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 56%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AB SKF, ASAHI SEIKO Co. Ltd., Bharat Forge Ltd., C and U Americas, HKT BEARINGS Ltd., JTEKT Corp., Luoyang JCB Bearing Technology Co. Ltd., LYC Bearing Corp., MinebeaMitsumi Inc., myonic GmbH, NACHI FUJIKOSHI Corp., NBI Bearings Europe SA, NSK Ltd., RBC Bearings Inc., Regal Rexnord Corp., Schaeffler AG, THB Bearings Co. Ltd., The Timken Co., Wafangdian Guangyang Bearing Group Co. Ltd., and NTN Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global bearings market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global bearings market 2017 – 2021 ($ million)
  • 4.2 Product Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)
  • 4.3 End-user Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

  • 6.1 Market segments
    • Exhibit 30: Chart on Product – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Product – Market share 2022-2027 (%)
  • 6.2 Comparison by Product 
    • Exhibit 32: Chart on Comparison by Product
    • Exhibit 33: Data Table on Comparison by Product
  • 6.3 Anti-friction bearings – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Anti-friction bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Anti-friction bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Anti-friction bearings – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Anti-friction bearings – Year-over-year growth 2022-2027 (%)
  • 6.4 Magnetic bearings – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Magnetic bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Magnetic bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Magnetic bearings – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Magnetic bearings – Year-over-year growth 2022-2027 (%)
  • 6.5 Other bearings – Market size and forecast 2022-2027 
    • Exhibit 42: Chart on Other bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 43: Data Table on Other bearings – Market size and forecast 2022-2027 ($ million)
    • Exhibit 44: Chart on Other bearings – Year-over-year growth 2022-2027 (%)
    • Exhibit 45: Data Table on Other bearings – Year-over-year growth 2022-2027 (%)
  • 6.6 Market opportunity by Product 
    • Exhibit 46: Market opportunity by Product ($ million)

7 Market Segmentation by End-user

  • 7.1 Market segments
    • Exhibit 47: Chart on End-user – Market share 2022-2027 (%)
    • Exhibit 48: Data Table on End-user – Market share 2022-2027 (%)
  • 7.2 Comparison by End-user 
    • Exhibit 49: Chart on Comparison by End-user
    • Exhibit 50: Data Table on Comparison by End-user
  • 7.3 Automotive industry – Market size and forecast 2022-2027 
    • Exhibit 51: Chart on Automotive industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 52: Data Table on Automotive industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Chart on Automotive industry – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Automotive industry – Year-over-year growth 2022-2027 (%)
  • 7.4 Heavy industry – Market size and forecast 2022-2027 
    • Exhibit 55: Chart on Heavy industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 56: Data Table on Heavy industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 57: Chart on Heavy industry – Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on Heavy industry – Year-over-year growth 2022-2027 (%)
  • 7.5 ARS industry – Market size and forecast 2022-2027 
    • Exhibit 59: Chart on ARS industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 60: Data Table on ARS industry – Market size and forecast 2022-2027 ($ million)
    • Exhibit 61: Chart on ARS industry – Year-over-year growth 2022-2027 (%)
    • Exhibit 62: Data Table on ARS industry – Year-over-year growth 2022-2027 (%)
  • 7.6 Others – Market size and forecast 2022-2027 
    • Exhibit 63: Chart on Others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 ($ million)
    • Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)
    • Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)
  • 7.7 Market opportunity by End-user 
    • Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 71: Chart on Geographic comparison
    • Exhibit 72: Data Table on Geographic comparison
  • 9.3 APAC – Market size and forecast 2022-2027 
    • Exhibit 73: Chart on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 74: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 75: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.4 Europe – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.5 North America – Market size and forecast 2022-2027 
    • Exhibit 81: Chart on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 82: Data Table on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 83: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027 
    • Exhibit 85: Chart on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 86: Data Table on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 87: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 89: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 90: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 91: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 China – Market size and forecast 2022-2027 
    • Exhibit 93: Chart on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 94: Data Table on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 95: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.9 US – Market size and forecast 2022-2027 
    • Exhibit 97: Chart on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 98: Data Table on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 99: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.10 Japan – Market size and forecast 2022-2027 
    • Exhibit 101: Chart on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 102: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 103: Chart on Japan – Year-over-year growth 2022-2027 (%)
    • Exhibit 104: Data Table on Japan – Year-over-year growth 2022-2027 (%)
  • 9.11 Germany – Market size and forecast 2022-2027 
    • Exhibit 105: Chart on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 106: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 107: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 108: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.12 Canada – Market size and forecast 2022-2027 
    • Exhibit 109: Chart on Canada – Market size and forecast 2022-2027 ($ million)
    • Exhibit 110: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
    • Exhibit 111: Chart on Canada – Year-over-year growth 2022-2027 (%)
    • Exhibit 112: Data Table on Canada – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 116: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 117: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 118: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 119: Matrix on vendor position and classification
  • 12.3 ASAHI SEIKO Co. Ltd.
    • Exhibit 120: ASAHI SEIKO Co. Ltd. – Overview
    • Exhibit 121: ASAHI SEIKO Co. Ltd. – Product / Service
    • Exhibit 122: ASAHI SEIKO Co. Ltd. – Key offerings
  • 12.4 Bharat Forge Ltd.
    • Exhibit 123: Bharat Forge Ltd. – Overview
    • Exhibit 124: Bharat Forge Ltd. – Business segments
    • Exhibit 125: Bharat Forge Ltd. – Key offerings
    • Exhibit 126: Bharat Forge Ltd. – Segment focus
  • 12.5 C and U Americas
    • Exhibit 127: C and U Americas – Overview
    • Exhibit 128: C and U Americas – Product / Service
    • Exhibit 129: C and U Americas – Key offerings
  • 12.6 HKT BEARINGS Ltd.
    • Exhibit 130: HKT BEARINGS Ltd. – Overview
    • Exhibit 131: HKT BEARINGS Ltd. – Product / Service
    • Exhibit 132: HKT BEARINGS Ltd. – Key offerings
  • 12.7 JTEKT Corp.
    • Exhibit 133: JTEKT Corp. – Overview
    • Exhibit 134: JTEKT Corp. – Business segments
    • Exhibit 135: JTEKT Corp. – Key news
    • Exhibit 136: JTEKT Corp. – Key offerings
    • Exhibit 137: JTEKT Corp. – Segment focus
  • 12.8 Luoyang JCB Bearing Technology Co. Ltd. 
    • Exhibit 138: Luoyang JCB Bearing Technology Co. Ltd. – Overview
    • Exhibit 139: Luoyang JCB Bearing Technology Co. Ltd. – Product / Service
    • Exhibit 140: Luoyang JCB Bearing Technology Co. Ltd. – Key offerings
  • 12.9 LYC Bearing Corp.
    • Exhibit 141: LYC Bearing Corp. – Overview
    • Exhibit 142: LYC Bearing Corp. – Product / Service
    • Exhibit 143: LYC Bearing Corp. – Key offerings
  • 12.10 MinebeaMitsumi Inc.
    • Exhibit 144: MinebeaMitsumi Inc. – Overview
    • Exhibit 145: MinebeaMitsumi Inc. – Business segments
    • Exhibit 146: MinebeaMitsumi Inc. – Key news
    • Exhibit 147: MinebeaMitsumi Inc. – Key offerings
    • Exhibit 148: MinebeaMitsumi Inc. – Segment focus
  • 12.11 myonic GmbH
    • Exhibit 149: myonic GmbH – Overview
    • Exhibit 150: myonic GmbH – Product / Service
    • Exhibit 151: myonic GmbH – Key offerings
  • 12.12 NACHI FUJIKOSHI Corp. 
    • Exhibit 152: NACHI FUJIKOSHI Corp. – Overview
    • Exhibit 153: NACHI FUJIKOSHI Corp. – Business segments
    • Exhibit 154: NACHI FUJIKOSHI Corp. – Key news
    • Exhibit 155: NACHI FUJIKOSHI Corp. – Key offerings
    • Exhibit 156: NACHI FUJIKOSHI Corp. – Segment focus
  • 12.13 NBI Bearings Europe SA 
    • Exhibit 157: NBI Bearings Europe SA – Overview
    • Exhibit 158: NBI Bearings Europe SA – Product / Service
    • Exhibit 159: NBI Bearings Europe SA – Key offerings
  • 12.14 NSK Ltd.
    • Exhibit 160: NSK Ltd. – Overview
    • Exhibit 161: NSK Ltd. – Business segments
    • Exhibit 162: NSK Ltd. – Key offerings
    • Exhibit 163: NSK Ltd. – Segment focus
  • 12.15 NTN Corp.
    • Exhibit 164: NTN Corp. – Overview
    • Exhibit 165: NTN Corp. – Business segments
    • Exhibit 166: NTN Corp. – Key offerings
    • Exhibit 167: NTN Corp. – Segment focus
  • 12.16 RBC Bearings Inc.
    • Exhibit 168: RBC Bearings Inc. – Overview
    • Exhibit 169: RBC Bearings Inc. – Business segments
    • Exhibit 170: RBC Bearings Inc. – Key news
    • Exhibit 171: RBC Bearings Inc. – Key offerings
    • Exhibit 172: RBC Bearings Inc. – Segment focus
  • 12.17 Regal Rexnord Corp.
    • Exhibit 173: Regal Rexnord Corp. – Overview
    • Exhibit 174: Regal Rexnord Corp. – Business segments
    • Exhibit 175: Regal Rexnord Corp. – Key news
    • Exhibit 176: Regal Rexnord Corp. – Key offerings
    • Exhibit 177: Regal Rexnord Corp. – Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 178: Inclusions checklist
    • Exhibit 179: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 180: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 181: Research methodology
    • Exhibit 182: Validation techniques employed for market sizing
    • Exhibit 183: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 184: List of abbreviations

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