The mounted bearing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Mounted Bearing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The mounted bearing market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to industrialization, expansion of heavy industries, increasing investments, increasing machinery loads and speeds, and growing demand for specialized bearings.
The mounted bearing market size is expected to see strong growth in the next few years. It will grow to $2.00 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising population, increasing use of automation and robotics, growing emphasis on environmentally friendly and sustainable practices, and rise of electric vehicles and globalization of manufacturing . Major trends in the forecast period include advanced materials and coatings, smart and connected bearings, electrification of transportation, automation and robotics and demand for application-specific solutions.
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Scope Of Mounted Bearing Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Mounted Bearing Market Overview
Market Drivers –
The rising demand for electric vehicles is expected to propel the growth of the mounted bearing market going forward. Electric vehicles (EVs) refer to automobiles powered partially or entirely by electricity stored in batteries. The adoption of electric vehicles is driven by their environmental benefits and lower operating costs, making them a compelling choice for consumers and businesses. Mounted bearings are essential in electric vehicles, supporting critical functions such as motor operation, drivetrain efficiency, wheel rotation, and overall vehicle performance. For instance, in April 2024, according to the Global EV Outlook 2023 report published by the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales rose by 3.5 million in 2023 compared to 2022, marking a 35% increase year-on-year. Therefore, the rising demand for electric vehicles is driving the growth of the mounted bearing market.
Market Trends –
Major companies operating in the mounted bearing market focus on developing innovative products, such as spherical roller bearings, to enhance performance and meet the increasing demand for high-precision, durable bearings in various industries. Spherical roller bearings refer to a type of roller bearing that can accommodate both radial and axial loads and are specifically designed to handle heavy loads and misalignments. For instance, in September 2021, AB SKF, a Sweden-based bearing and seal manufacturing company, launched a new spherical roller bearing designed explicitly for continuous steel casting operations. These bearings are engineered to withstand extreme conditions in steel manufacturing, such as high temperatures, high static loads, and contamination from scale, dust, and water. These new bearings help address the operational challenges of extreme conditions in steel manufacturing, which can result in costly unplanned equipment downtime, and represent the company’s ongoing effort to drive innovation.
The mounted bearing market covered in this report is segmented –
1) By Product Type: Ball Bearing, Roller Bearing
2) By Equipment: Ball Mill Drives, Fans And Blowers , Gearboxes And Transmissions, Conveyors , Crushers , Mixer Drives , Other Equipment
3) By Housing Block Type: Plummer Block, Flanged Block, Take-Up Block, Other Housing Block Types
4) By Sales Channel: Original Equipment Manufacturers, Aftermarket
5) By End User: Food And Beverages, Agriculture, Construction And Mining, Automotive And Transportation, Chemical And Pharmaceutical, Energy, General Industrial And Machinery, Pulp And Paper
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Regional Insights –
North America was the largest region in the mounted bearing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mounted bearing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the mounted bearing market are JTEKT Corporation, SKF AB , NSK Ltd. , Rexnord Corporation, Regal Beloit Corporation, The Timken Company, Wafangdian Bearing Group Corporation, Rexnord Industries LLC, Altra Industrial Motion Corp., Baldor Electric Company, Peer Bearing Company, Kaman Industrial Technologies Corporation, NRB Industrial Bearings Limited, Aurora Bearing Company, IKO International Inc., Mageba SA, Climax Metal Products Company, Scheerer Bearing Corporation, ISB Industries, Dalton Bearing Service Inc., IPTCI Bearings, Moline Bearing Company, Hudson Bearings, FYH Bearing Units USA Inc., Cixing Group Co. Ltd
Table of Contents
1. Executive Summary
2. Mounted Bearing Market Report Structure
3. Mounted Bearing Market Trends And Strategies
4. Mounted Bearing Market – Macro Economic Scenario
5. Mounted Bearing Market Size And Growth
…..
27. Mounted Bearing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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