Bearings for Mechanical and Electrical Products Market

Date: 2016-05

Bearings are basically mechanical components which helps certain mechanical parts rotate easily with low friction. Bearings can be classified into ball bearings, plain bearings, roller bearings, fluid bearings, magnetic bearings, jewel bearings and flexure bearings. Out of these, roller bearings and balls bearings are the major product segments accounting for more than 60% of the market size. These bearings are used in different applications such as, oil & gas industry, aerospace, mining industry, power generation, food processing, agriculture, commercial applications and automotive industry. Automotive industry which includes both two and four wheeler is the major end user for roller bearings.

Rolling bearings consist of rings with inner ring and outer ring, rolling balls and cage. The cage separates the rolling elements at regular intervals, holds them in place and allows them to rotate freely. Rolling bearing can be classified as ball and roller bearings, where ball bearings are in point contact with raceway and roller bearings are in linear contact with the raceway. Ball bearings are used in high speed applications. With respect to load the complete ecosystem of bearings can be classified into two types, such as radial and axial. Along with the above classifications, the report also analyzes the market by motion of the bearing such as axial rotation, spherical rotation, linear motion, hinge motion and others.

As of 2013, the roller bearings market was around $45 billion and is expected to grow at a CAGR of 8% from 2014 to 2020. The global bearings market is expected to reach $120 billion by 2020 with a CAGR of 7.1% from 2014.

The emerging demand for bearings in automotive, aerospace and railway industries is the major driving factor of the market. The increasing year on year automotive sales will have direct impact on the future market of bearings as they play vital role in either two or four wheeler vehicles. Aerospace as of now is the smallest market but is expected to grow at a high CAGR in the next 5 years.

By geography the market has been classified into Americas, APAC, Europe and RoW and is further analyzed by major countries in each region. Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2013 are provided.

Few of the companies that are profiled in this report include:
Schaeffler Group,
SKF Limited

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