“Mounted bearings market”
Mounted Bearings Market by Product (Ball Bearing, Roller Bearing), Market Channel (OE Market, Aftermarket), Housing Block (Feather Block, Flange Block, Rework Block), Equipment, Use Industry final and region
According to the new market research report “Mounted bearings market By Product (Ball Bearing, Roller Bearing), Market Channel (OE Market, Aftermarket), Housing Block (Flange Block, Flange Block, Tensioner Block), Equipment, End-Use Industry, and Region – Forecast world until 2027″, Published by MarketsandMarkets™, the global Mounted Bearings Market size is expected to grow from USD 1.4 Billion in 2022 to USD 1.8 Billion by 2027, growing at a CAGR of 5.6%.
Thanks to the extensive research and development activities of the major players in the market, products such as sensor bearings, self-aligning bearings, connected bearings and self-lubricating bearings are being launched. Also, the increasing adoption of sensors in industrial automation as well as motion control systems. They are the lifeline between the data collected through physical systems and the communication link that transmits the data to monitoring facilities or the cloud. Sensors are used to monitor bearing performance, as a failed bearing can lead to costly downtime. Smart sensor technology provides early indication of any potential issues by assessing bearing condition such as vibration as well as temperature information. It has applications in bulk material handling conveyors typically found in industries such as aggregates, mining, grain handling as well as cement as well as the food and beverage sectors as well than air handling.
Browse the in-depth table of contents at “Mounted bearings market”
218 – Tables
82 – Numbers
273 – Pages
The COVID-19 pandemic is expected to have a slight impact on the mounted bearings market. Mounted bearings have enormous potential in the process industry, paper industry and furniture industry. Companies such as Greenply, Action Tesa and Asahi Glass rely heavily on mounted bearings for material transfer and handling. The impact of COVID-19 will be higher on larger bearings and lower on smaller bearings as production and sales in discrete industries like cement, mining, etc. have been slow lately due to lockdowns around the world.
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Food & Beverage Segment Expected to Have Largest Market During Forecast
The food and beverage industry is estimated to be the largest mounted bearing market by type of end-use industry owing to the industry’s sustained growth, rising equipment adoption, and the increasing automation of food processing and packaging. Equipment such as gearbox and transmission, fans and blowers, conveyors and mixer drives are used in the food processing and packaging industry. The demand for such equipment is expected to increase due to increasing automation, development of advanced equipment, and efforts to increase production efficiency and reduce errors in the food processing industry. Custom or specific mounted bearings are widely used in the food industry.
Ball bearing segment is expected to be the fastest growing market over the forecast period
Mounted ball bearings consist of rolling elements that separate the inner and outer rings of a bearing. These bearings provide smooth operation, high speed movement and reduced friction and can support radial and axial loads. Mounted ball bearings are developed for different applications, load types and speeds. The mounted ball bearing segment is expected to grow at a significant rate in the coming years. Asia-Oceania is expected to be the largest and fastest growing regional market over the forecast period. Market growth here is driven by sustained growth in the food and beverage and agriculture sectors.
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Asia-Oceania is expected to be the largest market during the forecast
China is the largest automotive market in the world. OEMs such as Toyota, Honda, Volkswagen, Daimler and Nissan have large-scale production bases in the country. The growing focus on innovation has encouraged OEMs to cater to a wide range of consumer preferences in the region.
An increasing focus on infrastructure development to cater to the growing population would represent a suitable business environment for manufacturers in the steel, cement and metal processing sectors. As a result, industrial machinery producers would see significant growth opportunities after 2020 as the region’s economy rebounds. Major economies are expected to present economic plans to stimulate the growth of small and medium-sized enterprises to combat the downward economic trend due to the COVID-19 pandemic.
Major players in the Mounted bearings market are SKF (Sweden), Schaeffler (Germany), Timken (USA), NSK (Japan) and NTN (Japan).
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