Pune, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The global high voltage motor sleeve bearing market size was valued at USD 2.37 billion in 2022. The market is projected to grow from USD 2.55 billion in 2023 to USD 4.37 billion by 2030, exhibiting a CAGR of 8.0% during the forecast period.
High voltage motor sleeve bearings serve as essential components positioned on both ends of the motor, enabling precise alignment of the axial shaft and ensuring optimal lubrication through hydrodynamic lubrication techniques. These bearings are skillfully crafted from durable or ionized materials, providing an extensive lifespan. Fortune Business Insights presents this information in their report titled "Global High Voltage Motor Sleeve Bearing Market, 2023–2030."
KEY INDUSTRY DEVELOPMENTS:
September 2022: The Timken Company acquired GGB bearing Technology, a division of Enpro. This deal will create diverse product offerings for Timken with special bearing products such sleeve and custom bearings.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 8.0% |
| 2030 Value Projection | USD 4.37 billion |
| Base Year | 2022 |
| High Voltage Motor Sleeve Bearing Market Share in 2022 | USD 2.37 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 152 |
| Segments covered | By Type, By Application, and By Region |
| High Voltage Motor Sleeve Bearing Market Growth Drivers | Growing Renewable Energy Sector and Infrastructure Upgrade Investment to Increase Sleeve Bearings Adoption |
| Urbanization Growth and Demand for Electricity to Surge Demand across Industry |
COVID-19 Impacts:
Market Disruption During Pandemic Led to Low Demand Affecting Market Growth
The global production sector experienced significant disruption as a result of the COVID-19 pandemic, leading to a range of challenges including fluctuating material prices and decreased demand. This had a particularly negative effect on the machinery and manufacturing industry, as demand dwindled and operational costs soared, particularly in densely populated countries such as China, India, and others.
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Drivers and Restraints:
Commercial Infrastructure Development Transforms Urban Landscape
Rapid urbanization in Asian countries is driving the development of commercial spaces and infrastructure. With the United Nations projecting an additional 2.5 billion people in the world's urban population by 2050, concentrated mainly in Asia and Africa, the rising population and infrastructure needs in the renewable industry are expected to drive the demand for electricity generation motors. Consequently, the high voltage motor sleeve bearing market growth is positioned for the forecast period.
However, the emergence of alternative options, such as rolling element bearings and magnetic bearings, present potential obstacles to the revenue growth of the market.
Report Coverage:
The high voltage motor sleeve bearing research report offers an exhaustive analysis of the global market, emphasizing prominent companies, types of equipment, and primary product applications. Moreover, it provides valuable insights into market trends, noteworthy industry advancements, SWOT analysis, and the competitive landscape. Furthermore, the report encompasses numerous factors that have played a pivotal role in driving market growth in recent times.
Market Segmentation:
Small Bearings Segment Driven by High Efficiency and Maintenance-Free Solutions
Based on type, the segment is classified into different sizes, below 100 mm, D 100 - 200 mm, D 200 - 400 mm, D 400 - 600 mm, and above 600 mm.
The smaller size range of bearings, measuring below 100 mm and D 100-200 mm segments are expected to experience significant growth due to introduction of highly efficient and maintenance-free bearings playing a vital role in extending operational time and reducing maintenance costs.
Frame Sizes Below 355mm Driving Segment Through Demand for Small Electric Motor
Based on application, the segment is divided into smaller frame sizes ranging from below frame 355 mm, frame 355 - 560 mm, and above frame 560 mm.
The dominance of frame sizes below 355mm is primarily attributed to their extensive utilization in smaller electric motors, particularly within the electric vehicle industry. Additionally, the increasing demand for high voltage motor sleeve bearings further contributes to the prominence of these frame sizes.
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
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Regional Analysis:
Asia Pacific Set for Exponential Growth as Automation Integration Drives CAGR of 8.5%
Asia Pacific market is poised for remarkable growth, with a projected CAGR of 8.5% over the forecast period. This expansion is primarily attributed to the extensive integration of automation technologies in industrial electrical motors across the region.
Europe, and notably Germany, has established itself as a trailblazer in the automotive industry, boasting well-established and cutting-edge manufacturing clusters dedicated to the development of automotive vehicles.
Competitive Landscape:
Established Players Capitalize on Design Innovation and Expanded Offerings
The significant high voltage motor sleeve bearing market share held by established industry leaders can be attributed to their diverse product portfolios. These key players have recognized the importance of capitalizing on design innovation and expanding their offerings to drive both financial growth and product differentiation. By continuously introducing new and improved products and services, these players have solidified their market position and remained at the forefront of the industry.
List of the Companies Operating in the Market:
- AB SKF (Sweden)
- Schaeffler AG (Germany)
- Miba AG (Austria)
- The Timken Company (U.S.)
- NTN Corporation (Japan)
- Misumi Group Inc. (Japan)
- Igus GmbH (Germany)
- RENK AG (Germany)
- Hunan Sun Technological Corporation (China)
- Shenke Slide Bearing Corporation (China)
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities, and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global and China High Voltage Motor Sleeve Bearing Key Players Market Share/Ranking, 2022
- Global High Voltage Motor Sleeve Bearing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Below 100 mm
- D 100 – 200 mm
- D 200-400 mm
- D 400-600 mm
- Above 600 mm
- By Application (USD)
- Below 355 mm
- Frame 355 – 560 mm
- Above Frame 560 mm
- By Region (USD and Thousand)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America High Voltage Motor Sleeve Bearing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Below 100 mm
- D 100 – 200 mm
- D 200-400 mm
- D 400-600 mm
- Above 600 mm
- By Application (USD)
- Below Frame 355 mm
- Frame 355 – 560 mm
- Above Frame 560 mm
- By Country (USD)
- U.S.
- Canada
- Mexico
- Europe High Voltage Motor Sleeve Bearing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Below 100 mm
- D 100 – 200 mm
- D 200-400 mm
- D 400-600 mm
- Above 600 mm
- By Application (USD)
- Below Frame 355 mm
- Frame 355 – 560 mm
- Above Frame 560 mm
- By Country (USD and Thousand)
- Germany
- UK
- Italy
- Russia
- Rest of Europe
TOC Continued…!
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