Technavio has been monitoring the bearings market and it is poised to grow by USD 10.66 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Bearings Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- The anti-friction bearings are expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Increase in adoption of additive manufacturing is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 3%, the incremental growth of the market is anticipated to be USD 10.66 billion.
- Who are the top players in the market?
- ASAHI SEIKO Co. Ltd., C&U GROUP Ltd., JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG, SKF Group, and The Timken Co. are some of the major market participants.
- What are the key market drivers and challenges?
- Demand for high-quality bearings is one of the major factors driving the market. However, the difficulties in keeping pace with changing customer demand restraints the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ASAHI SEIKO Co. Ltd., C&U GROUP Ltd., JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG, SKF Group, and The Timken Co. are some of the major market participants. The demand for high-quality bearings will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Bearings Market 2020-2024: Segmentation
Bearings Market is segmented as below:
- Anti-friction Bearings
- Magnetic Bearings
- Other Bearings
- North America
- South America
- Heavy Industry
- Other Industries
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Bearings Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The bearings market report covers the following areas:
- Bearings Market Size
- Bearings Market Trends
- Bearings Market Analysis
This study identifies increase in adoption of additive manufacturing as one of the prime reasons driving the bearings market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Bearings Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist bearings market growth during the next five years
- Estimation of the bearings market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the bearings market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of bearings market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Anti-friction bearings – Market size and forecast 2019-2024
- Magnetic bearings – Market size and forecast 2019-2024
- Other bearings – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Automotive Industry – Market size and forecast 2019-2024
- Heavy Industry – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers- Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ASAHI SEIKO Co. Ltd.
- C&U GROUP Ltd.
- JTEKT Corp.
- LYC Bearing Corp.
- NSK Ltd.
- NTN Corp.
- RBC Bearings Inc.
- Schaeffler AG
- SKF Group
- The Timken Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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