Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Resource from: Research and Markets Likes:240
Dec 09,2014
DUBLIN, December 8, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/zzxc9z/bearing_market) has announced the addition of the "Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Global bearing market was valued at USD 75.91 billion in 2014, growing at a CAGR of 7.7% from 2014 to 2020. Bearings are machine elements that are primarily used for reducing friction between moving parts. For instance, in case of a roller bearing, the rolling elements in the bearings withstand the load, allowing the device to spin smoothly. With technological advancements in several industry verticals such as automotive, construction, and oil and gas, the applications and functionalities of bearings are evolving continuously. High end technologies such as smart bearings facilitate manufacturers to monitor bearing operations constantly.
The global bearing market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). The bearing market is primarily driven by increasing demand from automotive industry. The increase in the global production of motor vehicles has substantially raised the demand for automotive bearings. In addition, rising demand from steel industry, railways and defense and aerospace industry has also contributed to the growth of bearing market globally. The need for energy efficiency in process industries has also augmented the worldwide demand for bearings significantly.
Geographically, Asia Pacific led the bearing market in 2014 and the region is expected to continue its dominance in 2020. The region's dominance is due to increasing production of motor vehicles in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to the growth of bearing market. Europe and North America followed Asia Pacific in the global bearing market to collectively account for more than 40% of the global market revenue share.
The bearing market is segmented on the basis of product type into - unmounted ball bearings, plain bearings, roller bearings and others. Among all, unmounted ball bearings were holding the highest market revenue share in 2014 and are expected to remain so during the forecast period. Demand for unmounted ball bearings is attributed to their wide range of applications in motor engines, automotive wheels, railway coaches, hard drives and consumer durables. Unmounted ball bearings segment is closely followed by roller bearings segment.
Based on components, the global bearing market is divided into balls, rollers, cages, rings and others. The application segment of the bearings decides the number and size of these components. In 2013, balls as components held the highest share in the bearing market. Rollers which includes rolling elements such as tapered rollers, cylindrical rollers and needle rollers were the second largest components used in 2013.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market overview
Chapter 4 Global Bearing Market Analysis, by Product Type
Chapter 5 Global Bearing Market Analysis, by Components
Chapter 6 Global Bearing Market Analysis, by End use
Chapter 7 Global Bearing Market Analysis and Forecast, by Geography
Chapter 8 Company Profiles
Companies Mentioned:
Asahi Seiko Co., Ltd.
Brammer PLC
C&U Group
Daido Metal Company Ltd.
Danaher Corp.
GGB Bearing Technology
Harbin Bearing Group
JTEKT Corporation
NSK Ltd.
NTN Corporation
RBC Bearings
Rexnord Corporation
SKF Group
Schaeffler Group
The Timken Company
ThyssenKrupp AG
Wafangdian Bearing Co. Ltd
For more information visit http://www.researchandmarkets.com/research/zzxc9z/bearing_market
(Research and Markets)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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BRIEF INTRODUCTION
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