MARKET OVERVIEW
Roller Bearings are bearings that use rolling elements, such as cylinders or balls, to reduce friction between moving parts and support radial and axial loads. Roller bearings are widely used in various applications, including automotive, industrial machinery, and construction equipment, due to their high load-carrying capacity, durability, and resistance to wear and tear. The growing demand for high-performance and reliable roller bearings is expected to drive the growth of the roller bearings market in the coming years. The high cost of roller bearings and the increasing adoption of alternative technologies, such as magnetic bearings, are major restraints in the roller bearings market.
MARKET SCOPE
The "Global Roller Bearings Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the roller bearings market with detailed market segmentation by product type, end-user, and geography. The report provides key statistics on the market status of the leading roller bearings market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global roller bearings market is segmented into cylindrical, tapered, needle, spherical, and others.
- Based on end-user, the roller bearings market is segmented into automotive, electrical, construction, agriculture, and others.
MARKET DYNAMICS
Drivers:
- An increase in the usage of heavy machinery in the construction industry and high demand for application-specific bearings are the major factors that drive the growth of the roller bearings market.
- The growing automobile sector heavily demands the roller bearing that fuels the growth of the market.
- Furthermore, the rising need for roller bearing in agriculture, construction, and electrical industry is expected to drive the growth of the roller bearing market.
Restraints:
- High installation costs and complex maintenance operations may hamper the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The roller bearings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the roller bearings market in these regions.
IMPACT OF COVID-19 ON ROLLER BEARINGS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the roller bearings market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from roller bearings market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the roller bearings market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Brammer (RUBIX Group)
- C and U Group
- JTEKT Corporation
- NBI Bearings
- NSK Ltd.
- NTN Corp.
- RCB Bearing Incorporated
- Schaeffler Technologies AG and Co. KG
- SKF Group
- The Timken Company