New York, United States, July 18, 2024 (GLOBE NEWSWIRE) -- The Global Mounted Bearing Market Size Expected to Grow from USD 1.48 Billion in 2023 to USD 2.55 Billion by 2033, at a CAGR of 5.59% during the forecast period 2023-2033.
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A roller or ball bearing contained within a housing comprises up a mounted bearing. These machines can be equipped with standard ball bearings, roller bearings, or even grooved bearings, which make mounting easier. Conveyors in food processing lines, the building and mining industries, and other light and heavy industries are among the industries that mostly use them. Technological advancements in bearing materials, lubrication systems, and sealing technologies further enhance the lifetime and performance of mounted bearings. This opens up new channels for innovation and market growth. The recent development of sensor-based mounted heading in cars is expected to have a substantial positive impact on the market for car-mounted orientation. The car-mounted bearing industry sector is likely to grow globally due to growing interest in advanced security measures found in cars, such as the electronically monitored slowing mechanism that often uses sensor-mounted orientation. However, the demand for mounted bearings is not growing as anticipated because of intense competition from producers of inexpensive bearings, an increase in fake goods, the electrification of more vehicles, and fluctuating raw material prices.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the "Global Mounted Bearing Market Size, Share, and COVID-19 Impact Analysis, By Product (Ball Bearing, Roller Bearing), By Equipment (Ball Mill Drives, Fans & Blowers, Gearbox & Transmission, Conveyors, Crushers, Mixer Drives, Others),By End User (Food & Beverage, Agriculture, Farm & Fish, Construction & Mining, Automotive, Chemical & Pharmaceutical, Energy, General Industrial & Machinery, Others),and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ball bearing segment is expected to hold the largest share of the mounted bearing market during the anticipation timeframe.
Based on the product, the mounted bearing market is categorized into ball bearing, and roller bearing. Among these, the ball bearing segment is expected to hold the largest share of the mounted bearing market during the anticipation timeframe. When flat surfaces scrape against one another, the coefficient of friction is higher; however, the balls' spinning motion lowers it. Ball bearings have several benefits, such as enhanced motor performance and a better sealing barrier that keeps lubrication from leaking and foreign objects out of the casing.
The conveyors segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the equipment, the mounted bearing market is categorized into ball mill drives, fans & blowers, gearbox & transmission, conveyors, crushers, mixer drives, and others. Among these, the conveyors segment is expected to grow at the fastest CAGR during the anticipation timeframe. Conveyors are an efficient way to transfer light products as well as large, bulky items. Large conveyor applications in industries require a variety of bearing types, which supports the growth of this market segment for mounted bearings.
The agriculture segment is expected to hold a significant share of the mounted bearing market during the anticipation timeframe.
Based on the end user, the mounted bearing market is categorized into food & beverage, agriculture, farm & fish, construction & mining, automotive, chemical & pharmaceutical, energy, general industrial & machinery, and others. Among these, the agriculture segment is expected to hold a significant share of the mounted bearing market during the anticipation timeframe. It's projected that advances in crop production will keep up with rising food consumption. More and more agricultural goods will be needed to meet the requirements of the growing global population for food, fuel, and industry.
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Asia Pacific is projected to hold the largest share of the mounted bearing market over the anticipation timeframe.
Asia Pacific is projected to hold the largest share of the mounted bearing market over the anticipation timeframe. It is projected that in order to prevent the COVID-19 epidemic's detrimental effects on the economy, major economies would develop economic policies that encourage the growth of small and medium-sized businesses. The Asia-Pacific mounted bearing market would be primarily driven by nations like China and Japan.
Europe is expected to grow at the fastest CAGR growth of the mounted bearing market during the anticipation timeframe. The manufacturing sectors in the region are growing at an exponential pace. The presence of large original equipment manufacturers and first-tier suppliers with sizeable facilities involved in mounted bearing research & development is projected to drive the market for automotive mounted bearings in Europe.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global mounted bearing market are NRB Bearings, IPTCI Bearings, IKO International Inc., Cixing Group Co. Ltd, Bearings Ltd, NTN Corporation, ILJIN Co. Ltd., NSK Ltd, JTEKT Corporation, SKF, The TIMKEN Company, BMI Bearings, Indiana Bearings Pvt Ltd, PBC Linear, ABB Motors, Mechanical Inc, Schaeffler AG, and others.
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Recent Developments
- In July 2022, for electric vehicle (EV) motors, NSK Ltd. created a third-generation ultra-high-speed ball bearing that can operate at more than 1.8 million dmN*1. The new bearing is the quickest grease-lubricated deep groove ball bearing in the world for automotive applications, allowing for increased energy (fuel) economy and a longer driving range.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global mounted bearing market based on the below-mentioned segments:
Global Mounted Bearing Market, By Product
- Ball Bearing
- Roller Bearing
Global Mounted Bearing Market, By Equipment
- Ball Mill Drives
- Fans & Blowers
- Gearbox & Transmission
- Conveyors
- Crushers
- Mixer Drives
- Others
Global Mounted Bearing Market, By End User
- Food & Beverage
- Agriculture
- Farm & Fish
- Construction & Mining
- Automotive
- Chemical & Pharmaceutical
- Energy
- General Industrial & Machinery
- Other
Global Mounted Bearing Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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